What Type of Mortgage is Right for Me?

When our parents were buying their first home, there was only one way to finance the purchase. You would walk down to the local bank and ask for a 30-year mortgage. That's how our parents and grandparents were able to buy a home. Many of us spent our childhood there.

Things sure have changed.  The average homeowner moves every 7-10 years. Either because of a new career opportunity or a change in lifestyle can significantly affect the way people manage their property. Depending on your needs, there are a number of mortgage options you might consider, each with its own pros and cons, spending some time to fully understand the options is the best way to choose the right loan for your needs.

While loan programs and terms vary, the most common are:

• Conventional - A conventional...

Why You Should Invest In Real Estate Early

It's important to know why you should invest in Real Estate at an early age and know the impact it can have on your wealth. According to an Urban Institute study, homeowners who purchase a house before age 35 are better prepared for retirement at age 60.

The good news is, our younger generations are strong believers in homeownership.

According to a Freddie Mac survey,

“The dream...

Real Estate Equity

83% of Wealth comes from Equity. 

Real estate equity is a large contributor to wealth. It is important to have a strategy to get you the wealth that you desire. 

Over the past few decades, people's way of view when it comes to homeownership has changed. Unlike previous generations, like our grandparents, who bought a home with a 30-year mortgage and celebrated the day they made their last payment, today’s home buyers rarely stay in their home that long. Some move across the country, overseas, or is choosing a smaller home. As a result, the way mortgages are viewed has changed as well and often buyers are not building the equity in their homes the way it used to.

But there are benefits to building equity and paying down the loan, here are just a few:

• Flexibility...

Homes Are More Affordable Today, Not Less Affordable

The National Association of Realtors (NAR) releases a monthly Housing Affordability Index. The latest index shows that home affordability is better today than at almost any point over the last 30 years! House prices have substantially increased over the last several years.

It’s not, however, just the price of a home that matters. It's important you have someone to support you to see how mortgage, price, affects the affordability equation.

Mortgages

Mortgage rates have fallen by over a full percentage point since December 2018. Another major...

Have You Outgrown Your Home?

Many homeowners are surprised when they suddenly realize that the “perfect” home of just a few years ago no longer suits their needs. From an expanding family to an empty nest, it’s common for a home to no longer feel like the same way it used to be and be the right fit. If you’re unsure if you’ve reached the point where a move is warranted, here are a few signs you’ve outgrown your home:

More Kids than Rooms or More Rooms than Kids

Having kids is a life-changing experience. With that said, life changes and our homes must change, too.

Clutter or Lack of Storage

Do you need more closet or...

2020 Forecast Continues To Show Good Appreciation

We are going to answer the questions that continue to rise around where home prices will head in 2020. The latest forecast from CoreLogic shows continued appreciation at 5.4% over the next year:

...

2020 Pantone Color of the Year – Classic Blue

Drum roll please – Pantone has chosen Classic Blue as their color of the year. What do you think?

Over the past couple of years, bold and bright colors as wall decors or even as throw pillows have been all over designer magazines and new homes style. This year, Pantone has chosen a fresh Classic Blue to inspire homeowners and designers in 2020.

Classic Blue has this timeless and cool elegance vibe into it. Think of your favorite sneaker or school binder and you’ll be right on track. Described as a calming, familiar azure, Classic Blue is an uncomplicated, straightforward tone intended to provide a “neutral” backdrop for modern color palates and urban chic styling.

This Classic Blue paired with light...

Year-Over-Year Rental Prices on the Rise

It has been reported that 2020 is projected to be a strong year for homeownership due to rental prices going up next year according to the Freddie Mac Forecast,

“We expect rates to remain low, falling to a yearly average of 3.8% in 2020.”

If you’re currently renting, 2020 is definitely a great time to think about making a jump into homeownership while mortgage rates are going to be low.

As noted in the ...

Buying A Bigger House: Is It Within Your Budget?

At this time of year, many people come together to celebrate the season. It’s also the time when many homeowners realize their homes are not big enough to host all of their guests and loved ones. 

You may have enough equity in your current home to move up.

According to the Q3 2019 U.S. Home Equity & Underwater Report by ATTOM Data Solutions,

“14.4 million residential properties in the United States were considered equity rich, meaning that...