The cost of waiting to buy a home

Thinking of waiting another year or two to buy a home? If home prices and mortgage rates increase in the next year or two, home buyers could end up with significantly less buying power than they have today. Today’s mortgage rates are near historic lows. But they aren’t expected to stay that way. Various housing groups and economists are predicting mortgage rates will rise to between 4.5% and 5% by the end of the year. The National Association of Realtors also is expecting home prices to increase in 2018 by an average of 3.2 percent nationally, with the highest appre...

March 7th, 2018 | First-Time Homebuyers, Home Buying Tips, Home Values, Interest Rates, The cost of waiting to buy a home

Your tax refund could help you purchase a home

Are you getting a tax refund this year? According to the IRS, the average U.S. tax refund is more than $3,000. While big tax refunds make it a popular time of year to purchase big-ticket items such as large-screen television sets, we’d like to remind you of another use for that money: As a downpayment on a home. If you’ve already saved some money toward a downpayment, your tax refund could help boost your downpayment fund. Haven’t started saving yet? This year’s refund can also help you jump-start a downpayment savings account. One of the biggest home buying myths...

February 26th, 2018 | First-Time Homebuyers, Home Buying Tips, Your tax refund could help you purchase a home

The VA Home Loan Program: It’s Flexible

The VA home loan program has many benefits. One you may not know about: There’s no specific waiting period after a short sale to apply for a VA loan. Other home loan programs have waiting periods of three or more years after a short sale to apply for another mortgage.A short sale is when you sell your home for less than the balance remaining on your mortgage. Short sales can provide a way for families with real estate issues to get a fresh start and avoid foreclosure. But selling your home via a short sale can make purchasing another home right away difficult.The VA home loan program has...

September 29th, 2017 | VA Loans, First-Time Homebuyers, Home Buying Tips, No Down Payment, The VA Home Loan Program: It’s Flexible

Your Home Buying Team

Buying your first home? Here are three real estate professionals who will play a big role in your leap from renting to owning your own home:Mortgage loan officer. Before you look at a single home, you should get pre-approved for financing from a reputable mortgage company. Once you’re pre-approved, you can begin your home search. By visiting with a lender first, you’ll know how much home you can reasonably afford and you’ll be able to make legitimate offers on any homes that meet your criteria.Real estate agent. There’s a reason that nearly 90 percent of home ...

September 23rd, 2017 | Home Inspection, Home Buying Tips, First-Time Homebuyers, Real Estate Agents, Appraisals, Title Insurance, Your Home Buying Team

Should You Take Advantage of Lower Mortgage Rates?

Have you checked mortgage rates lately? Fixed mortgage rates have been hitting a low for the year. Whether you’re a home buyer, homeowner or home seller, the dip in mortgage rates could be a benefit to you.Today’s low mortgage rates also have made home ownership more affordable than it has been in years. Whether you’re thinking about buying your first home, making a move to a large one or purchasing a second home or rental, low mortgage rates can stretch your purchasing power.Thinking about refinancing? It’s no surprise that refinancing activity has incre...

September 19th, 2017 | Refinance, Interest Rates, Should You Take Advantage of Lower Mortgage Rates?

The fall home buying and selling season starts soon

When it comes to real estate, the summer home-buying season is the busiest, with many families wanting to be settled in their new homes before school starts. This year, however, home buying and selling activity is expected to remain strong through the last quarter of the year throughout the Salt Lake City area and all of Utah.If you’re thinking of selling your home in late summer or early fall, know that there likely will be a smaller group of potential buyers than there were in June and July. However, those purchasing homes in the fall are often more serious, which can more than make up...

September 12th, 2017 | Home Buying Tips, Home Selling Tips, Home Decorating, The fall home buying and selling season starts soon

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