In August, interest rates hit a whopping 7.23% for mortgages, which is the highest they have been since 2001. But if this is your time to purchase a home, then you might not have much flexibility in terms of the timeline. So, what can you do to make your mortgage rates as affordable as possible? One … [Read more...]
Tips for Minimizing Home Maintenance Costs
In a recent post about tips for new homeowners, we mentioned that you will need to get used to maintaining your home. Part of that entails keeping those maintenance costs down as low as you can. For every square foot, you will need to have around $1 to put into maintaining your home each year. … [Read more...]
Could Refinancing Help You Save Money During Inflation?
Thankfully, inflation has been slowing down of late. Nevertheless, the climb in prices we have all experienced over the past few years has left many homeowners scrambling to keep up with their monthly costs. 3 Refinancing Benefits During Inflation Could refinancing your mortgage bring your … [Read more...]
8 Things You Can Save Money on When You Own Instead of Rent
If you will be buying a home for the first time, you might think that means your cost of living will rise. But depending on how you manage things, it could actually fall. Let’s look at some areas where you could potentially save money owning a home instead of renting. Expenses You Can Save When … [Read more...]
How Buying a Home Can Help You Save for Retirement
Often, we hear people ask, “Should I save for retirement or buy a house?” Actually, that question assumes that this is a scenario where you can only do one and not both. Have you considered that purchasing a home could actually help you save for retirement? Here are some reasons why a home is a good … [Read more...]
Tips for Choosing a Mortgage Company for a Jumbo Loan
Purchasing a home with a jumbo loan is not too different from buying one with a conventional loan. But the qualification process is more rigorous, and it is common for jumbo loans to cost more than conforming loans. For that reason, it is extra important to choose the right mortgage company to work … [Read more...]
7 Tips for New Homeowners
If you are right about to buy a new home, you probably are focused mostly on what you need to do to get your keys. You are busy shopping for the perfect house and picking out a suitable mortgage. But it is just as important to think about what you are going to do after you receive your keys and … [Read more...]
8 Advantages of Buying a Home Over Renting
If you are thinking about purchasing a home in the near future rather than continuing to rent, you are making a decision that offers quite a few benefits, financial and otherwise. While renting does have its pros as well as its cons, in this post, we are going to focus on giving you an overview … [Read more...]
Why This is an Ideal Time to Buy a Home in Virginia
We’ve been in a strong seller’s market for a while in Virginia. But if you are thinking about purchasing a home in the near future, this could be an ideal time to make your move. Let’s take a look at the reasons. Virginia REALTORS recently released its 2023 Economic & Housing Market Forecast. … [Read more...]
What Size Down Payment Should You Make?
When you take out a mortgage on a new home, one of the decisions you have to make is the size of your down payment. The type of home loan you choose as well as your qualifications will determine the minimum down payment size. But beyond that, you can certainly decide if you want to pay … [Read more...]
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