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 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. A Home Inspection Is a Professional Check-Up A home inspection is a thorough examination of the property, done by a certified inspector. They assess everything from the roof, plumbing, HVAC, and electrical system, to the foundation and structure. Think of it like a physical exam — but for your future home. The goal? Spot
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
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. 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
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
DTI Measures How Much of Your Income Goes to Debt Your debt-to-income ratio is the percentage of your gross monthly income (before taxes) that goes toward paying your debts. That includes: So if you earn $5,000 a month and $2,000 goes to debt, your DTI is 40%. The lower your DTI, the stronger your financial
Buying a home is one of the biggest financial decisions you’ll ever make — but it doesn’t have to feel overwhelming. At Stairway Mortgage, we’ve developed a simple, clear, and empowering way to guide you every step of the way. We call it the Stairway Process — a 3-step path built to take you from
Getting preapproved is a powerful first step — but what happens after that? At Stairway Mortgage, we don’t just help you get approved. We walk with you, every step, until you’re holding the keys to your new home — and even beyond. Here’s what the journey looks like once your preapproval is in hand. 1.
Applying for a mortgage doesn’t have to be overwhelming — especially when you know what to expect. At Stairway Mortgage, we simplify the process so you feel confident every step of the way. Whether you’re a first-time buyer or a seasoned investor, here’s everything you need to know to get started with ease. 1. It’s