Taking the Fear out of Saving for a Home

Written by Anna Maria Island Mortgage Mortgage Syndicated User on October 31, 2022. Posted in Anna Maria Island Mortgage, Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Mortgage Anna Maria Island, Move-Up Buyers.

If you’re planning to buy a home, knowing what to budget for and how to save may sound scary at first. But it doesn’t have to be. One way to take the fear out of budgeting is understanding some of the costs you might encounter. And to do that, turn to trusted real estate professionals. They can help you plan your finances and prepare your budget. Here are just a few costs experts say you can expect. 1. Down Payment Saving for your down payment is likely top of mind as you set out to buy a home. But do you know how much you’ll need to save? While each situation is different, there’s a common...

Four Things That Help Determine Your Mortgage Rate

Written by Anna Maria Island Mortgage Mortgage Syndicated User on October 12, 2022. Posted in Anna Maria Island Mortgage, Down Payments, First Time Home Buyers, For Buyers, Interest Rates, Mortgage Anna Maria Island, Move-Up Buyers.

If you’re looking to buy a home, you probably want to secure the lowest interest rate possible for your home loan. Over the last couple of years, that was easier to do as the housing market saw record-low mortgage rates, but this year rates have risen dramatically. If you’re looking for ways to combat today’s higher rates and lock in the lowest one you can, here are a few factors to focus on. Since approval opportunities can vary, connect with a trusted lender for customized advice. Your Credit Score Credit scores can play a big role in your mortgage rate. Freddie Mac explains: “When you...

Saving for a Down Payment? Here’s What You Should Know.

Written by Anna Maria Island Mortgage Mortgage Syndicated User on October 10, 2022. Posted in Anna Maria Island Mortgage, Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Mortgage Anna Maria Island, Move-Up Buyers.

As you set out to buy a home, saving for a down payment is likely top of mind. But you may still have questions about the process, including how much to save and where to start. If that sounds like you, your down payment could be more in reach than you originally thought. Here’s why. The 20% Down Payment Myth If you believe you have to put 20% down on a home, you may have based your goal on a common misconception. Freddie Mac explains: “. . . nearly a third of prospective homebuyers think they need a down payment of 20% or more to buy a home. This myth remains one of the largest perceived...