For the past few years, affordability has been what’s stopped a lot of buyers in their tracks. Maybe it stopped you, too. At some point you probably did the math, looked at the monthly payment, and decided to pause your search and wait for things to get better. But here’s something you may have missed while you’ve been sitting on the sidelines. Over the last year, housing affordability has...
Buying your first home is exciting, but it can also be a little nerve-wrecking because it’s something you’ve never done before. And trying to think of everything you need to do can feel like a lot. But here’s the key. You don’t have to figure everything out on your own. And you don’t have to do it all at once. Just tackle it one thing at a time. Here’s a simple list of 3 main things you...
Mortgage rates have already dropped into the upper 5s twice this year. But after just a few days, they ticked back up into the low 6% range. If you saw that and thought, “Great. I missed it,” you’re not the only one. A lot of buyers are treating the 5s like some kind of magic number. As if moving from 6.1% to 5.99% suddenly changes everything. And from a mindset perspective, it does feel...
Renting can feel like the easier choice right now. There’s no big down payment. No dealing with surprise repairs. And no long-term commitment. But then your rent goes up again. And again. And suddenly the thing that seemed flexible starts looking… expensive, especially considering you’re not building any equity. And once that happens, it’s easy to feel a little trapped in the cycle. That’s...
There’s finally a little good news for anyone who’s been priced out or sitting on the sidelines. Buying a home is getting more affordable. Monthly payments have started to come down, and the squeeze buyers have been feeling for the past few years is slowly loosening. Now, that doesn’t mean everyone can suddenly afford a home, but with how tough the market’s been, the improvement we’re...
Buying a home is one of the biggest purchases you’ll ever make. And homeowner’s insurance is what protects that investment. Think of it as your safety net. NerdWallet explains it: Covers Repairs and Rebuilding Costs: If your home is damaged by fire, storms, or other covered events, it helps pay for repairs and possibly even a full rebuild, if that’s deemed necessary. Protects Your Belongings:...
Would-be homebuyers aren’t sitting on the sidelines because they don’t want to buy. They’re sitting out because they think they can’t. And sometimes, it’s their credit score that’s holding them back. According to a Bankrate survey, 2 out of every 5 (42%) Americans believe you need excellent credit to qualify for a mortgage. That may be why, when renters are asked why they don’t own yet,...
Finding the right home feels exciting – but being pre-approved for your loan is what makes it possible. Whether you’re planning to buy soon or still just thinking about it, getting pre-approved is one of the best moves you can make. Here’s why. 1. What Is Pre-Approval, Really? Pre-approval is much more than a guess. It means a lender has reviewed your finances (things like your income, assets,...
If you’re trying to decide if you’re ready to become a homeowner in the next twelve months, there’s probably a lot on your mind. You’re thinking about your finances, today’s mortgage rates, home prices, the current state of the economy, and more. And, you’re juggling how all of those things will impact the choice you’ll make. It’s a lot. But here’s what you need to remember. While...
There’s a lot of conversation about home prices, mortgage rates, and affordability right now – and those things are important. But if you’re thinking about buying a home, it’s worth remembering something the headlines rarely talk about: people don’t buy homes just for financial reasons. They buy them for their lives. Because while homeownership can absolutely be a smart long-term financial...
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