Airbnb Owners Look for Liquidity
During this time of decreased travel, owners of Airbnb and other rental properties are looking to liquidate their assets. This may create the opportunity for good deals within an already low interest rate environment. With the rise of virtual open houses, you can see a higher variety of properties using less time, allowing you to get a greater feel for the market in your local...How Should You Prepare to Buy Your First Home?
Buying your first home and getting a home mortgage loan is a big step in any new homeowner’s life. Here are some things to help you prepare and avoid unnecessary stress during the home buying process. Have a budget in mind: Prepare a budget that includes home owners association fees, insurance, taxes, and of course the cost of your home mortgage loan payments. Having this budget will give you a starting point on what type of home you want to buy. Find a trustworthy real estate agent: Having an agent you can trust will relieve stress in the home buying process. Your agent should have your best interests at heart and be an extension of you during this process. Make time to do some research: Researching the location of where you want to live is very important. In addition to the information your agent supplies you, do some personal research. Figuring out what type of home, the fees that come with it, and other determining factors will make you more confident in your decision. Establish loan parameters: In addition to figuring out your budget, you need to determine how much money you will take out via a home mortgage loan. Determining which type of home mortgage loan you prefer is also necessary during this step. Contacting a loan officer to help discuss your home loan options during this time could help provide clarity as well. ...Fort Myers Mortgage Company Tips for Balance During Pandemic
Working from home is causing workers nationwide to feel the pressure to be constantly available. The responsibilities of everyday life (paying your mortgage, cleaning the house, etc.) remaining constant and the addition of homeschooling and caring for the sick or elderly are weighing heavy on Americans during this trying time. Being able to balance working from home and the ever-growing home life responsibilities has many people feeling burnt-out. In order to feel happier and more energetic with all these restrictions on us, its important to designate time during the day and space within your home for yourself. Not every room and every hour of the day should be associated with work, but instead time needs to be taken to relax and recharge. In addition it’s important to take care of yourself through hydrating, eating well, exercising, and engaging with other people unrelated to work. When the work day is over it’s important to unplug and not have your mind in a constant state of worrying about work. Staying happy and healthy during this pandemic will help us all get...Signs Emerging Americans Ready to Re-enter Housing Market
Until recently, the vast majority of lender’s home mortgage application volume has come from home loan mortgage refinances due to the low mortgage rates. Now, lenders are seeing a rise in purchase mortgage applications despite the mortgage interest rates still being at historic lows. Mortgage lenders are choosing to offer higher mortgage rates for refinances because of their inability to sell home mortgage refinance loans to Fannie Mae and Freddie Mac. When it comes to home mortgage purchase applications it’s a different story. For the third straight week the volume of home mortgage purchase loans has increased showing how ready the American public is to re-enter the housing...Homeowners Less Stressed than Renters
The United States Census considers households that spend at least 35% of their monthly income on housing costs (mortgage, utilities, taxes, and other homeownership costs) to be “cost-burdened”. A decade ago, this figure accounted for 29% of homeowners in the United States. Today this number is much lower, falling to 21%. Compare this to the number of cost-burdened renters (40.6%) and the difference is nearly 19%. Many people believe that renting is the more affordable option in today’s market, but this simply isn’t the case as these numbers show. The typical rent payment across the country has risen sharply, while the average mortgage payment has gone down making it more affordable to own your home than it is to rent. If you’ve been thinking about purchasing your own home, this could be the perfect time to make the move. Historically low interest rates combined with rising rent payments make this a logical time to purchase a...Connect With Us
