Saving for a down payment is a key step in the homebuying process, and it’s not the only piece you need to include in your budget. Another factor that’s important to plan for is the closing costs required to obtain a mortgage.
What Are Closing Costs?
According to Trulia,
“When you close on a home, a number of fees are due. They typically range from 2% to 5% of the total cost of the home, and can include title insurance, origination fees, underwriting fees, document preparation fees, and mor...
One important factor in a healthy real estate market is consumer confidence in the housing market.
And a new report from financial company Fannie Mae shows consumer confidence in the real estate market has never been higher.
In the report, called the Home Purchase Sentiment Index (HPSI), Fannie Mae gathers several kinds information that indicate a variety of factors that indicate the confidence in the market. Fannie Mae takes all this data and generates a number that represents the curren...
Over the course of the past few years home prices have continued to rise, albeit in some cases a somewhat slower pace, and that is great news for homeowners in Sarasota and around the U.S.
While it's true that rising home prices can be a double edged sword, for homeowners who are not first-time buyers there are strong positives when real estate prices increase.
1. Homeowners Can Afford To Move Into A Better Home
If your home has increased in value and gained equity, this additional valu...
As a homeowner, it’s always tempting to dream about the next big project you’re going to tackle. The possibilities are endless. Should I renovate? Should I refinance? Should I stay? Should I move? The list goes on and on.
In today’s housing market, it’s actually a great time to shift your thoughts toward selling your house and moving up into the home of your dreams. Here’s why:
Inventory is on the rise, but there’s still an overall shortage of houses for sale (less than a 6-month supply fo...
Traditionally summer is a slow season in the Sarasota area for many businesses including real estate. However this summer is currently an excellent time to sell your home.
Demand From Buyers Is Strong
In the most recent Buyer Traffic Index report from the National Association of Realtors illustrates that in most areas of the country demand is strong. Not only does this mean there will be plenty of potential buyers, but those buyers must now compete with each other for fewer homes which can...
Buying a new home is exciting - unfortunately applying for a home loan is not!
It seems like lenders need to know every little detail about you, most banks require at least three pieces of textual evidence to validate each and every field on the mortgage application form. Many home buyers are being told by friends and family that many years ago the process was vastly less difficult when they purchased their home during that time.
Why is there so much more paperwork now when getting a mortg...