buying a house: One Homebuying Step You Don’t Want To Skip: Pre-Approval
- 01/16/25 08:23 AM
There’s one essential step in the homebuying process you may not know a whole lot about and that’s pre-approval. Here’s a rundown of what it is and why it’s so important right now. What Is Pre-Approval? Pre-approval is like getting a green light from a lender. It lets you know how much they’re willing to let you borrow for a home. To determine that number, a lender looks at your financial history. According to Realtor.com, these are some of the documents a lender may ask you for during this process: W-2s from the last two years Tax returns from the last … (1 comments)
buying a house: How Mortgage Rates Affect Your Monthly Payment
- 01/10/25 07:02 AM
Experts say rates will come down slightly in the year ahead – but some volatility is expected. So, you shouldn't try to time the market. Instead, it's better to focus on how even a small change impacts your future mortgage payment. As rates come down, even a little bit, your monthly payment on your next home will too. Want to see what this looks like at a different price point? Let’s connect.
Contact us: PHP Houses 142 W Lakeview Ave Unit 1030 Lake Mary, FL 32746 Ph: (407) 641-1531 Fax: (407) 205-1951 email: info@phphouses.com Let’s Connect: Facebook Linkedin Twitter Instagram The information contained, and the opinions expressed, in this article are not intended to be construed as investment … (2 comments)
buying a house: Expert Forecasts for the 2025 Housing Market
- 01/07/25 09:40 AM
Wondering what’s in store for the housing market this year? And more specifically, what it all means for you if you plan to buy or sell a home? The best way to get that information is to lean on the pros. Experts are constantly updating and revising their forecasts, so here’s the latest on two of the biggest factors expected to shape the year ahead: mortgage rates and home prices. Will Mortgage Rates Come Down?Everyone’s keeping an eye on mortgage rates and waiting for them to come down. So, the question is really: how far and how fast? The good news is they’re … (2 comments)
buying a house: What’s Motivating More Buyers To Choose a Newly Built Home?
- 12/26/24 10:12 AM
Planning to buy a home soon? Why not go for something brand-new? Because data shows a lot more buyers are seeing the appeal of new home construction these days – and you may find out it’s what you want too. The National Association of Realtors (NAR), explains that newly built homes accounted for 15% of all homes sold last year. That’s a significant increase, and is actually the highest percentage in 17 years (see graph below): To get a closer look at why so many people are opting for a brand-new home, NAR surveyed recent buyers. And here are the top reasons why … (2 comments)
buying a house: How Home Equity May Help You Buy Your Next Home in Cash
- 12/23/24 09:18 AM
Building equity in your house is one of the biggest financial advantages of homeownership. And right now, homeowners across the country are sitting on record amounts of it. Here’s a look at how that equity could be a game changer for you, and why it’ll flip your perspective from “Why would I move right now?” to “Why wouldn’t I?” Home Equity: What Is It?Home equity is the difference between how much your house is worth and how much you still owe on your mortgage. For example, if your house is valued at $400,000 and you only owe $200,000 on your mortgage, your equity … (4 comments)
buying a house: The Truth About Down Payments [Infographic]
- 12/20/24 06:49 AM
There’s a misconception going around that you have to put 20% of the purchase price down when you buy a home. But the truth is, many people don’t put down that much unless they’re trying to make their offer more competitive. And if you want to give your savings a boost, look into down payment assistance. There are thousands of programs that offer an average benefit of nearly $17,000. To learn more about loan options or down payment assistance programs, connect with a trusted lender and check out downpaymentresource.com.
Contact us: PHP Houses 142 W Lakeview Ave Unit 1030 Lake Mary, FL 32746 Ph: (407) 641-1531 Fax: (407) 205-1951 email: info@phphouses.com Let’s Connect: Facebook Linkedin Twitter Instagram The … (1 comments)
buying a house: What Homebuyers Need To Know About Credit Scores [Infographic]
- 12/14/24 12:02 PM
Data shows 7 out of 10 prospective homebuyers don’t know the minimum credit score required by lenders or that it varies by lender and loan type. According to Experian, the range is anywhere from 500 to 700 for the minimum credit score. That means you don’t need perfect credit to buy a home. Your credit score is important – but that doesn’t mean it needs to be perfect. Work with a lender to learn more about home loan options that may work for you.
Contact us: PHP Houses 142 W Lakeview Ave Unit 1030 Lake Mary, FL 32746 Ph: (407) 641-1531 Fax: (407) 205-1951 email: info@phphouses.com Let’s Connect: Facebook Linkedin Twitter Instagram The information contained, and the opinions … (3 comments)
buying a house: The Top 2 Reasons To Look at Newly Built Homes
- 12/12/24 06:46 AM
When planning a move, a newly built home might not be the first thing that comes to mind. But with more brand-new homes on the market and builders focusing on smaller, more affordable options, this type of home may just be the key to crossing the homebuying finish line. Here's why a new build is worth considering – and how an agent can help you find one that meets your needs and your budget. 1. More Newly Built Homes Are Available Right NowFirst, let’s break down the types of homes on the market. A newly built home is a house that was just … (2 comments)
buying a house: Should You Sell Your House As-Is or Make Repairs?
- 12/02/24 08:27 AM
A recent study from the National Association of Realtors (NAR) shows most sellers (61%) completed at least minor repairs when selling their house. But sometimes life gets in the way and that’s just not possible. Maybe that’s why, 39% of sellers chose to sell as-is instead (see chart below): If you’re feeling stressed because you don’t have the time, budget, or resources to tackle any repairs or updates, you may be tempted to sell your house as-is, too. But before you decide to go this route, here’s what you need to know. What Does Selling As-Is Really Mean?Selling as-is means you won’t make … (6 comments)
buying a house: Don’t Miss Out on the Growing Number of Down Payment Assistance Programs
- 11/22/24 06:22 PM
With rising home prices and volatile mortgage rates, it’s important you know about every resource that could help make buying a home possible. And one thing you’ll want to be aware of is just how much the number of down payment assistance (DPA) programs has grown lately. Take a look at the graph below to see how many new programs have been added in the last year, according to data from Down Payment Resource: More Programs, More Opportunities for You So, what does this increase mean for you? With more programs available, there’s a higher likelihood that one of them could help … (6 comments)
buying a house: Is Wall Street Really Buying All the Homes?
- 11/19/24 07:57 AM
Let’s be real – buying a home right now is tough. You’re scrolling through listings, rushing to open houses, and maybe even losing out to more competitive offers. Somewhere along the way, you might’ve heard the reason it’s so hard to find a home is because big Wall Street investors are swooping in and snatching up everything in sight. But here’s the thing: that’s mostly a myth. While investors are part of the market, according to Redfin, they’re a relatively small part: Here’s what that means. Five out of every six homes are being purchased by everyday homebuyers like you – not … (2 comments)
buying a house: More Homes, Slower Price Growth – What It Means for You as a Buyer
- 11/13/24 08:14 AM
There are more homes on the market right now than there have been in years – and that could be a game changer for you if you’re ready to buy. Let’s look at two reasons why. You Have More Options To Choose FromAn article from Realtor.com helps explain just how much the number of homes for sale has gone up this year: “There were 29.2% more homes actively for sale on a typical day in October compared with the same time in 2023, marking the twelfth consecutive month of annual inventory growth and the highest count since December 2019.”And while the number of … (3 comments)
buying a house: The Majority of Veterans Are Unaware of a Key VA Loan Benefit
- 11/11/24 07:09 AM
For over 79 years, Veterans Affairs (VA) home loans have helped countless Veterans achieve the dream of homeownership. But according to Veterans United, only 3 in 10 Veterans realize they may be able to buy a home without needing a down payment (see visual below): That’s why it’s so important for Veterans – and anyone who cares about a Veteran – to be aware of this valuable program. Knowing about the resources available can make the path to homeownership easier and keep life-changing plans from being put on hold. As Veterans United explains: “The ability to buy with 0% down is … (1 comments)
buying a house: Q&A: How Do Presidential Elections Impact the Housing Market?
- 11/01/24 08:21 AM
Even if you’re not looking to move right away, you may have questions about how the election will impact the housing market. When we look at historical trends, combined with what’s happening right now, we can find your answers. Based on historical data, mortgage rates decrease in the months before and home prices and sales increase the year after the election. The facts show Presidential elections only have a small and temporary impact on the housing market.
Contact us: PHP Houses 142 W Lakeview Ave Unit 1030 Lake Mary, FL 32746 Ph: (407) 641-1531 Fax: (407) 205-1951 email: info@phphouses.com Let’s Connect: Facebook Linkedin Twitter Instagram The information contained, and the opinions expressed, in this article are not intended … (2 comments)
buying a house: How Real Estate Agents Take the Fear Out of Moving
- 10/31/24 02:26 PM
Feeling a bit unsure, or even afraid, to move with everything going on right now? The decision to move shouldn’t be scary, it should be exciting. And the best way to eliminate any fear is to work with a pro. Real estate agents are so much more than just transaction facilitators; they’re trusted guides to help you navigate the complexities of the housing market with confidence and ease. And a great agent can turn what may feel like a daunting process into a manageable—and even enjoyable—experience. That’s why, in a Bright MLS survey, respondents agreed partnering with an agent is essential and helps … (0 comments)
buying a house: Avoid These Top Homebuyer Mistakes in Today’s Market
- 10/30/24 04:51 PM
No one likes making mistakes, especially when they happen in what’s likely the biggest transaction of your life – buying a home. That’s why partnering with a trusted agent is so important. Here’s a sneak peek at the most common missteps buyers are making in today’s market and how a great agent will help you steer clear of each one. Trying To Time the Market Many buyers are trying to time the market by waiting for home prices or mortgage rates to drop. This can be a really risky strategy because there’s so much at play that can have an impact … (4 comments)
buying a house: Debunking Scary Myths About Buying a Home
- 10/25/24 08:01 AM
There are a number of scary myths about homebuying in today’s market. Here’s what you need to know. Prices are not expected to crash, it is possible to buy even with student loan debt, and there are programs that can help you save for a down payment. Don’t let scary myths delay your homebuying plans. Let's connect so you have a pro to help you separate the facts from your fears.
Contact us: PHP Houses 142 W Lakeview Ave Unit 1030 Lake Mary, FL 32746 Ph: (407) 641-1531 Fax: (407) 205-1951 email: info@phphouses.com Let’s Connect: Facebook Linkedin Twitter Instagram The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. … (2 comments)
buying a house: Why Buying Now Is Worth It
- 10/18/24 07:34 AM
You may be torn between buying a home now or waiting. But don’t forget to factor in the equity you’ll gain as prices rise. Experts forecast prices will climb over the next 5 years – and based on those forecasts, you could gain about $90k in equity in that time. So, you could wait, but you’ll miss out on a lot of equity if you do. If you’re ready and able to buy, let’s connect so you can start growing your wealth now.
Contact us: PHP Houses 142 W Lakeview Ave Unit 1030 Lake Mary, FL 32746 Ph: (407) 641-1531 Fax: (407) 205-1951 email: info@phphouses.com Let’s Connect: Facebook Linkedin Twitter Instagram The information contained, and the opinions expressed, … (4 comments)
buying a house: Buying Beats Renting in These Top Cities
- 10/11/24 07:21 AM
Based on a recent study, in 22 of the top 50 metros, the monthly mortgage payment is lower than the rent payment. Make sure you work with a pro who can help you crunch the numbers and see how your city stacks up. This may be your opportunity to forget renting for good. If you want to see which option makes the most sense in our area, let’s do the math together.
Contact us: PHP Houses 142 W Lakeview Ave Unit 1030 Lake Mary, FL 32746 Ph: (407) 641-1531 Fax: (407) 205-1951 email: info@phphouses.com Let’s Connect: Facebook Linkedin Twitter Instagram The information contained, and the opinions expressed, in this article are not intended to be construed as investment … (2 comments)
buying a house: The Top 3 Reasons Affordability Is Improving
- 10/04/24 01:40 PM
Affordability is based on three key factors: mortgage rates, home prices, and wages. And today, it’s improving quickly as rates come down, prices level off, and wages climb. If you put your search on pause because it was too expensive to buy, let’s talk about why now may be the perfect time to jump back in.
Contact us: PHP Houses 142 W Lakeview Ave Unit 1030 Lake Mary, FL 32746 Ph: (407) 641-1531 Fax: (407) 205-1951 email: info@phphouses.com Let’s Connect: Facebook Linkedin Twitter Instagram The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. The author does not guarantee or warrant the accuracy or completeness of the information or … (4 comments)
There’s one essential step in the homebuying process you may not know a whole lot about and that’s pre-approval. Here’s a rundown of what it is and why it’s so important right now.
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