Buying a Home

VA Loan and Your New Home

Are you thinking about buying a more expensive home? Did you serve our Country and have VA financing benefits? One thing that many buyers don't know is that there is not a cap on financing with your VA loan.  Really?  Yes really.  

With your VA loan, you can get a loan for $424,100 with 100% financing. That is pretty amazing. So what happens if you want to buy a home for more than $424,100.  Out of luck? Have to put the difference down as a down payment? I have great news for you, no you don't.

So here is the concept of how it works:

$424,100 is 100%

Above $424,100, the rule of this is that Veteran needs to pay $0.25 for every $1 above. 

So if you are buying a $600,000 home here is an idea of what the numbers would look like:

Purchase price $600,000

Difference between...

Getting Ready to Buy Your 1st Home

Millenials have a new challenge to buying their first home with increased student debt and less opportunities for earning income. Saving money for a down payment and closing costs have become a real challenge for many first time home buyers. 38.4% of millennials are living at home between the ages of 18-34. 

So what is the solution? The first advice I alway give is your 1st home likely won't be your dream home. The goal is get into the real estate market. Making good decisions is critical with an ideal on your exit strategy. Yes, you need to think about moving when you are buying. That does seem odd right? It is not actually. Will you sell it? Or will you rent it? Why does this matter? It matters because it might impact the type or area that you purcase in. 

The challenge for many first time home buyers...

Getting a Mortgage So You can Buy Your New Home

If you are like most buyers, you will be obtaining a mortgage. It is a critical step in obtaining the keys so you can move into your new home. So what is the big deal? Getting a mortgage is step one of making your dreams come true. 

Florida is number 1 for mortgage denials. This isn't something that we want to be #1 in as it means that buyers and sellers are disappointed and closings don't occur. 17% of applicants get denied. Wow, that is a big number. Imagine that you have found a home you love, you're already decorating in your mind and packing only to hear NO. 

So what do you do if you want to buy a home to have your loan approved?  There are steps to improve your chances of having your loan approved.

  1. Check your credit on a free credit score site like creditkarma.com....

The International Impact on South Florida Real Estate

The International Impact on South Florida Real Estate

The international impact on our South Florida real estate market makes me think of "It's a Small World After All".  If you have been to Disneyworld, that song probably started going in your head.  In South Florida, that is a great theme song for our real estate market.

Florida has become a favorite with International Buyers and is the #1 place that they are investing their money.  

Top States for International purchased

Florida - 22%

California - 15%

Texas - 10%

New York...

The Gloves are Off - Buying versus Renting

It is time to duke it out.  In one corner is renting and in the other corner is buying.  So who will win this battle?  What is the right choice for you?  Here are the things that you need to consider when thinking about Palm Beach County real estate.

1.  Where you are in your life? 

Are you ready for the responsibility of owning a home?  Will you be ready to handle maintenance issues instead of just calling the landlord when something goes wrong.  

2.  How long do you plan to stay?  

A recent study notes that it takes less than 2 years for owning to make sense over renting.  So if you're planning on moving in a year or two, then staying a renter is the better choice.  If you are looking to stay 3-5 years,...

Things to Consider When Buying a Home

There are 4 things to consider when buying a home in Palm Beach, Florida. The 4 things are especially if this is your 1st home, 1st home in a long time or your 1st home in Florida. 

Things to consider when buying a home:

1.  Many buyers think a home inspection is a guarantee or warranty. That is not the case and if you think that you will be shocked after closing. The purpose of the inspection is to find what is visible and defective at that time. If something is hidden, like behind a wall, the inspector is not going to be abie to find the issue most likely. You will want to look at the inspection report so you are aware of the ages of the mechancial items in the house so you know what you will need to plan for as far as repairs or improvements in the future.

2.  Plan for expected and unexpected repairs. If this is your 1st home, you are likely...

Tips For Buying a Home

"Tips For Buying A Home."  The latest real estate show on In WJNO, as hosted by Treu Group Real Estate and Brian Mudd offers Tips for Buying a Home.  In the latest episode, "Tips For Buying a Home," Lisa Treu talks about what you should know before buying your home. If you are buying a home, or in particular, buying your first home, this episode contains essential information that you should know.

"Tips For Buying a Home" includes everything from tips on saving up for a down payment, to advice on building your credit score, and even...

4 Reasons that Can Cause your Deal Not to Close

There are 4 reasons that most deals fall apart and many can be avoided.  During the Contract to Close Phase (the time between when your offer is accepted and closing) is critical to making closing day possible.  

A good general rule of thumb is to first check with your lender before making a change that will impact your financial situation.  Better safe than sorry as they say.  Here are a few things to consider.

1.  Employment - Do not change jobs without getting approval from the lender.  A new job may be ok however if you are changing industries or locations it might impact your mortgage approval.  Certainly don't quit your job.  Thinking that you have your approval and it doesn't matter is a huge mistake.  The lender will do a last minute verification of employment and no job means no loan.  ...

Buying Your 1st Home; 5 Easy Ways to Save Up For a Down Payment!

Buying Your 1st Home, 5 Easy Ways to Save Up For A Down Payment

If you are renting or living at home, the most common reason instead of buying your 1st home is often the deposit.  Many buyers can afford the deposit and have the acceptable credit.  In fact, many buyers would save money as their rent payment is usually higher than the payment if they owned the same home!  A typical buyer will need a minimum of 3 1/2 to 5% minimum as a down payment.  Additionally, there are closing costs that will need to be paid when buying a home.  

So what is someone to do? There are many ways to address the downpayment and closing costs required if you are creative and willing to put buying a home first.  Here are a few suggestions:

  1. Use your tax return to assist with your cost of buying...

Will Increasing Mortgage Rates Impact Home Prices?

Will Increasing Mortgage Rates Impact Home Prices?

There has been some discussion recently on home prices in relation to mortgage rates. Some believe if there is a rapid rise of mortgage rates, home prices should decrease. Logically it makes the most sense for the price of the house to drop when interest rates are rising, but this is not always the case.

This theory of home prices decreasing is typically discussed by future home buyers. As a buyer you would like to think if you are paying higher rates on your mortgage, you should be able to see a decrease in cost somewhere else. Unfortunately, these rates are rising because the economy is in better shape. As the economy succeeds, incomes rise, rates go up, as well as the price of the home.

A recent study by the John Burns Real Estate Consulting found mortgage rates have very...