1. Schedule the Home Inspection ASAP Your first priority is the home inspection. This is your opportunity to make sure the house is in good condition—roof to foundation. Hire a trusted, licensed inspector who can uncover any issues, big or small. If problems come up, you’ll have the chance to renegotiate or request repairs before […]
1. House Hunting: The Search Begins The first stage is finding the right home—and this part depends entirely on you. Some buyers fall in love with the first house they tour. Others might take a few months to find “the one.” Your timeline will depend on your budget, your wishlist, and how competitive the local
First-Time Buyer Guide to Single-Family Homes, Condos, and Townhomes 💡 Buying your first home? One of the first questions to ask is: what kind of home actually fits your lifestyle?From low-maintenance condos to spacious single-family homes, understanding your options helps you shop smarter and avoid surprises down the road. 1. Single-Family Homes Offer Space and
1. Build 20% Equity in Your Home The key to canceling PMI is hitting that magic number: 20% equity. That means your remaining loan balance is 80% or less of your home’s current value. There are two main ways to build equity: Regular monthly payments (which chip away at your principal) Making extra payments (even one extra payment a
1. A Seller’s Market Means High Demand and Fast Action In a seller’s market, there are more buyers than available homes. This creates competition, drives up prices, and often leads to multiple offers and bidding wars. Homes sell quickly—sometimes above asking price—and buyers need to act fast and come prepared with pre-approval, strong offers, and
1. Work With Your Agent to Price It Right Before anything is signed, you’ll want to discuss your offer strategy with your real estate agent. They’ll look at market trends and recent nearby sales—also known as “comps”—to help you land on a price that’s competitive but fair. In a seller’s market, you may need to
1. A HELOC Works Like a Credit Card, Not a One-Time Loan A HELOC (Home Equity Line of Credit) gives you access to a credit line you can draw from as needed—similar to a credit card. Instead of getting a lump sum upfront like a home equity loan, you: Borrow only what you need, when you need it Make
1. You Borrow Against the Equity in Your Home Home equity is the difference between your home’s current value and what you still owe on your mortgage. A home equity loan lets you borrow a portion of that difference—often up to 80-85% of your equity. But remember: you’re using your home as collateral, which means if you
1. Sellers Love the Certainty of Cash An all-cash offer means you’re not relying on a lender to fund your purchase, which gives sellers one huge advantage: peace of mind. There’s no risk of financing falling through, which can be especially appealing in a competitive market. Your offer could even beat out higher bids—just because it’s
1. A Rate Lock Freezes Your Interest Rate A mortgage rate lock is when your lender guarantees a specific interest rate for a set period, usually 30 to 60 days. This lock-in period protects you from market fluctuations while your loan is being processed. So even if rates jump tomorrow, you’re locked in at today’s
1. Proof of Income Shows You Can Afford the Loan Lenders want to be sure you can comfortably make your monthly payments. To do that, you’ll need to provide: Recent pay stubs (typically last 30 days) W-2 forms (for the last 2 years) Tax returns (especially if you’re self-employed or have side income) These documents help confirm your