mortgage payment: Are prices and rates going to continue to rise?
- 08/21/22 05:17 PM
One of the most talked about questions in the real estate market has to do with "Will prices continue to rise now that interest rates have increased dramatically this year?" It is understandable to think that if the Federal Reserve is using interest rate increases to slow consumer demand, that it would also slow homebuyer demand to moderate prices. Unfortunately for would-be homebuyers, it isn't the case. High inflation, strong economic growth, low unemployment, and increased wage growth have been associated with high home price appreciation. In a recent newsletter from First American, Chief Economist, Mark Fleming stated that historically, 90% of total inventory … (3 comments)
mortgage payment: Steps in Home Buying Process
- 08/27/19 07:00 PM
Steps in Home Buying Process The process of buying a home can be different based on the price range and whether a mortgage is needed. While some things are different, others are similar regardless of price, financing or local customs. Each year, the National Association of REALTORS® surveys buyers and sellers who have purchased or sold in the previous twelve months in order to identify the process and steps taken. It provides a lot of information for the people who will be going through the process now and in the near future. 44% of all buyers looked online for properties for sale. This might … (2 comments)
mortgage payment: Invest in Equity Build-up
- 08/19/19 01:28 PM
Equity build-up could be one of the biggest advantages to buying a home. There are two distinct dynamics that take place to make this happen: each house payment applies an amount to reduce the mortgage owed and appreciation causes the value of the home to go up. It is easy to make a projection based on the type of mortgage you get and your estimation of appreciation over the time you expect to own the home. Even conservative estimates can produce impressive results. Let's look at an example of a home with a $270,000 mortgage at 4.5% for 30 years and a total … (0 comments)
mortgage payment: A Lower Payment is Your Choice
- 05/02/14 10:08 AM
A Lower Payment is Your Choice 94% of purchasers last year opted for a fixed-rate mortgage at some of the lowest rates in home buying history. Yet, some of them will pay more in interest than necessary based on the time they’ll own the home. If a person only plans to be in the home a few years, the adjustable-rate can offer significant savings. Not only is the interest rate on the adjustable-rate lower than the fixed in the initial period, amortization on a lower interest rate amortizes faster than a higher interest rate. In the example shown below, a $200,000 … (3 comments)
mortgage payment: The Question Every Cash Buyer Should Answer
- 05/02/14 09:50 AM
The Question Every Cash Buyer Should Answer Paying cash for a home seems like a huge advantage to qualifying for a mortgage and an appraisal. However, for the fortunate few who don’t need a mortgage, there is a question they should answer before they make that decision: Do you think at any point in the future, you might put a mortgage on this property? It’s important because paying cash for a home could affect the ability to deduct the interest if the homeowner should place a mortgage on the home at a later date. Most homeowner’s know they can deduct the … (3 comments)
mortgage payment: Rent or Buy...You Pay for the House You Occupy -
- 01/14/12 06:54 PM
Whether you rent or buy, you pay for the house you occupy. You must live somewhere and there's a price to pay for it. A simple analysis will show you whether it's cheaper to rent or buy.
Some people don't have any choice but to rent because they don't have the means to qualify for a loan. But for those who do have a down payment and good credit, they actually have a choice of whether to rent or buy. In some cases, owning will cost significantly less than renting. Rentals are in high demand in many … (6 comments)
One of the most talked about questions in the real estate market has to do with "Will prices continue to rise now that interest rates have increased dramatically this year?"
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