Category: News

With housing prices rising in recent years, one quarter of home buyers 23-31 received financial help from friends or family for their down payment and 17 percent of those aged 32-41 also received help according to the National association of realtors. Down payment gifts still need to be documented accurately in a gift letter. If you're in the process of buying a home and receiving financial help from a family member or friend, you maybe asked to provide a gift letter. This document is an essential part of the loan application process and helps ensure that the down payment funds you're using come from legitimate sources. A gift letter is a written statement from the person providing the gift (the giver) stating that they've given you money for the down…

We saw more activity in the market as rates dropped in a volatile business environment. Applications were up 7% and Freddie Mac reported the average rate on the average 30-year fixed mortgage was 6.60% this fell to 6.60% this week down from last weeks rate of 6.73%. In statement by Freddie Mac’s Chief Economist Sam Khater, he said “turbulence in the financial markets is putting significant downward pressure on rates, which should benefit borrowers in the short-term.” And he continued, “our research concludes that homebuyers can potentially save $600 to $1,200 annually by taking the time to shop among multiple lenders.” Check with us about your options as the market is in a period of volatility. You can use our quick analysis our website and we will auto-schedule a review…

With increased borrowing costs, many buyers are seeing their options limited, and you might be considering buying a fixer-upper. We’ve all seen the home make-over shows with amazing before and afters, but is it right for you? Here are a few things to consider: 1. Know Your Limits How much of the work can you do. How much time do you have to put into renovations. Are you prepared to live in a work zone for a while 2. Work Out Costs In Advance Have a contractor walk through the inspection with you and get a written estimate for work he would do. If you are doing the work yourself price the costs of supplies, either way add 15% to the costs because surprises are likely. 3. Check Permitting Costs…