Home Financing Archives

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.

Must Read Articles About Home Financing :

Searching for That Great Rate: How to Find the Best Mortgage Rate

When it comes to mortgages, there is a lot at stake. Especially for first-time homebuyers. Picking the wrong one can cost you thousands of dollars in interest payments, and negatively impact your financial future. In this article, we’re covering the ins-and-outs of finding the best mortgage, so you can rest easy knowing you made the right decision.

Are There Any Hidden Costs with Building?

Think of a new home estimate with a very low price as an iceberg. Like an iceberg, the misleading price is comprised of two parts: the part that’s visible above the surface and the part that’s hidden below the surface. Some home builders minimize the less obvious expenses just to get your business. Hidden costs may not be visible, but they will still impact your plans.

How to Prepare for Property Taxes When Building a New Home

Purchasing an available, pre-owned home from a real estate listing is much different from building a custom house that includes your most desired amenities, especially when it comes to preparing for your property taxes. Without an exact amount based on historical figures, how will you know how much to save up or roll into your mortgage?

Why New Home Costs Vary When Comparing Square Footage

You’re thrilled to be building a home. Finally you’ll be able to live in your dream house, complete with all the comforts and features you want. You’ve done your basic research, and are starting to get bids. That’s when you run into an unexpected, seemingly-unexplainable puzzle: The cost-per-square-foot conundrum.

Recent Home Financing Articles:

Wooden house cutout in front of decreasing stacks of coins

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 compare properties that have sold in the last six months. This determines an estimate of what a seller might expect to get for their property. T... [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 home you cannot in all fairness compare homes by that criterion. There are numerous opportunities for a homebuyer today to be misled and often confused when trying to sort out the “price per square foot” dilemma. However, there are a number of categories where questions can be asked to help sort out the ... [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 you feel will work in good faith to protect your goals and interests. Using local banks and brokers are the best bet as they are here,... [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 purchasing a home or bu... [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 av... [Read More]