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Does being married matter when you're buying a house?

SARA WATSON - National Homeownership There’s an old-school order to things. Couple meets. Couple marries. Couple buys a house. Couple has kids. But this is 2018. As millennials are increasingly waiting to get married and have children, they may prefer to put a mortgage on it instead of a ring. In fact, a recent marriage and homebuying study from Coldwell Banker showed that one in four couples between ages 18-34 purchased a home together before they got married. When it comes to mortgage loans, however, there are few institutions more old-school than the big...

April 20th, 2018 | First-Time Homebuyers, Home Buying Tips, Credit Report/Repair, Title Insurance, Does being married matter when you're buying a house?

Pre-approved for a home loan? Don’t do these four things.

When purchasing a home, your mortgage pre-approval is based on your current financial situation. That’s why once you are pre-approved, you should avoid making big changes to your finances. Here are several things you’ll want to avoid doing while you’re in the process of financing a home purchase: 1. Taking on more debt. Talk to your lender first before you open any new credit accounts, request a credit line increase or co-sign on a loan. As a general rule, you’ll want to avoid taking on any new debt before you close on your home. 2. Changing your jo...

April 17th, 2018 | Home Buying Tips, Pre-approved for a home loan? Don’t do these four things.

Discount and Origination Points Explained

Do you know the difference between discount points and origination points? These are two important terms any home buyer should understand. Each type of point is equal to one percent of your total loan amount. For example, on a $200,000 loan, one point would be equivalent to $2,000. Discount and origination points, however, do different things. Origination points are paid to loan officers. Some mortgage companies charge origination fees in the form of a point, while others just charge a set amount for originating a mortgage loan. Origination points are generally not tax deductible. ...

April 4th, 2018 | First-Time Homebuyers, Home Buying Tips, Interest Rates, Discount and Origination Points Explained

Make your offer stand out this spring

Ready for the spring home buying season? In today’s strong housing market, multiple offers are the norm in many areas. It’s definitely a seller’s market. Here are some things to keep in mind as you get ready to make an offer on a property: Think twice about making lowball offers. It’s an enduring myth among home buyers: Many people think the only way to make an offer on a home is by making a lowball offer and work up from there to get the best deal possible. But in reality, lowball offers aren’t as effective as you might think unless the property has langu...

March 21st, 2018 | Home Buying Tips, Make your offer stand out this spring

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 in Utah 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 highe...

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

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