Home Financing

Home financing is one of the most complicated aspects of buying, building and/or owning a house. There are so many things to consider that it can be overwhelming. We aim to help you navigate your most pressing questions so you can focus on the joy of home ownership. From construction loans and mortgage rates to pricing and hidden costs, we’ll cut through the noise and give you the answers you need from industry experts.

Recent Home Financing Articles:

 

CALL YOUR LENDER BEFORE YOU HOUSE HUNT

Bernie CampanellaIt’s not a big secret that in today’s economy, the lending practices of area banks, mortgage brokers and credit unions seem to change or be under review on a monthly basis. Federal rules and regulations change, local lending practices change, underwriting and appraisal practices are subject to what often seem like arbitrary twi... [Read More]

 

DETERMINE WHAT YOUR HOME IS WORTH

Are you interested in selling your home but not sure what your home is worth? Having an appraisal done will give you that answer. It is important to price your home competitively so that it will sell in a reasonable time period. In determining a property’s current value, an appraiser will consider recent sales of similar homes in the area and will... [Read More]

 

New Home Pricing – What is your price per square foot?

One of the most often asked questions is: “what is your price per square foot”? Lenders, appraisers, real estate agents all use the term “price per square foot” but when you build a new ... [Read More]

 

WHAT CAN I AFFORD?

How much home can I afford to buy?  Knowing your purchasing limit is an extremely important step to take before thinking about building a new home.  Not only is it essential that you know what a lender may identify as your limit, but also understand what your personal limit is.  The key is to contact a mortgage lender, bank, or broker whom... [Read More]

 

Timing is everything, or is it?

Some investors try to time the stock market fluctuations. Buying and selling stock in an attempt to maximize their return. Often these investors guess wrong and end up with a lessor return then if they had left their investments alone. Looking at the big picture long term, approaching your investing with a business as usual approach is generally the safer and wisest course to follow. Trying to time the bottom of the real estate market is also a gamble. Some hold off [Read More]

 

Financing a New Home Purchase

Choosing the perfect home can be one of the biggest decisions you make and deciding how to pay for it is significant as well. There are a few things you can do before you apply for a mortgage. Order a free credit report at www.ftc.gov/freereports and review for accuracy. If there are some mistakes, you can correct them before applying for a loan. You will also want to gather earning statements, rent receipts etc. for the application process.   Som... [Read More]

 

Financing Options to Build a New Home

Can you come up the 20% down payment necessary to build a home?  Most consumers cannot. If you are one of the many people that want to build, but can not come up with the down payment, you have options. Many consumers are struggling with the ability to come up with the down payments required by banks since the recession.  Most banks require the typical 20% down for a construction loan. That is a lot of money to come up with on a $200.000.00 home. There are alternatives available.  If an ind... [Read More]