Category: Buying Tips

Auto Added by WPeMatico

How To Determine if You’re Ready To Buy a Home

Written by Marathon Florida Keys Mortgage on July 16, 2024. Posted in Agent Value, Buying Tips, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

If you’re trying to decide if you’re ready to buy a home, there’s probably a lot on your mind. You’re thinking about your finances, today’s mortgage rates and home prices, the limited supply of homes for sale, and more. And, you’re juggling how all of those things will impact the choice you’ll make. While housing market conditions are definitely a factor in your decision, your own personal situation and your finances matter too. As an article from NerdWallet says: “Housing market trends give important context. But whether this is a good time to buy a house also depends on your financial...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

The Price of Perfection: Don’t Wait for the Perfect Home

Written by Marathon Florida Keys Mortgage on July 10, 2024. Posted in Agent Value, Buying Tips, First-Time Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

In life, patience is a virtue – but in the world of homebuying, waiting too long in hopes of finding the perfect home actually isn’t wise. That’s because the pursuit of perfection comes at a cost. And in this case, that cost may be delaying your dream of homeownership. As Bankrate explains: “One of the most common first-time homebuyer mistakes is looking for a home that checks each of your boxes. Looking for perfection can narrow your choices and lead you to pass over good, suitable options for starter homes in the hopes that something better will come along.” The Cost of Holding...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Things To Avoid After Applying for a Mortgage [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on July 5, 2024. Posted in Buying Tips, For Buyers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Mortgage Rates.

Some Highlights There are a few key things you’ll want to avoid after applying for a mortgage to make sure you’re in the best position when you get to the closing table. Don’t change bank accounts, apply for new credit, make any large purchases or transfers, and don’t co-sign loans for anyone. Here’s a good rule of thumb. Always connect with your loan officer before making any financial decisions once you’ve started the mortgage process.

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Homeownership: The Heart of the American Dream

Written by Marathon Florida Keys Mortgage on July 4, 2024. Posted in Buying Tips, Equity, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Everyone’s vision for the future is personal and unique. But for many, common goals include success, freedom, and prosperity — values closely tied to having your own home and the iconic feeling of achieving the American Dream. A recent survey by Bankrate reveals exactly that: homeownership is still a part of the American Dream. The results show, at 78%, that owning a home tops the list, surpassing other significant milestones such as retirement, having a successful career, and more (see below): So, why is buying a home important to so many today? One reason is the financial and physical...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Real Estate Still Holds the Title of Best Long-Term Investment

Written by Marathon Florida Keys Mortgage on July 2, 2024. Posted in Buying Tips, For Buyers, Home Prices, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Mortgage Rates.

With all the headlines circulating about home prices and mortgage rates, you may be asking yourself if it still makes sense to buy a home right now, or if it’s better to keep renting. Here’s some information that could help put your mind at ease by showing that investing in a home is still a powerful decision. According to the experts at Gallup, real estate has been crowned the top long-term investment for a whopping 12 years in a row. It has consistently beat out other investment types like gold, stocks, and bonds. Just take a look at the graph below – it speaks volumes: But why does...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

The Difference Between an Inspection and an Appraisal

Written by Marathon Florida Keys Mortgage on June 27, 2024. Posted in Buying Tips, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

When you decide to buy your first home, you may come across a number of terms and conditions you’re not familiar with. While you may have a general idea of what an inspection is, maybe you’re not sure why you need one or how it’s different from an appraisal. To keep it simple, here’s an explainer of each one and what they mean for you as a homebuyer. Home Inspection Once you’re under contract on a home you’d like to buy, getting an inspection is a key part of the process. An inspection gives you a clear idea of the safety and overall condition of the home – which is important for such a...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Why a Vacation Home Is the Ultimate Summer Upgrade

Written by Marathon Florida Keys Mortgage on June 20, 2024. Posted in Buying Tips, For Buyers, Luxury / Vacation, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Summer is officially here and that means it’s the perfect time to start planning where you want to vacation and unwind this season. If you’re excited about getting away and having some fun in the sun, it might make sense to consider if owning your own vacation home is right for you. An Ameriprise Financial survey sheds light on why people buy a second, or vacation, home (see below): Vacation destination or a place to get away from the stresses of everyday life (81%) – Having a second home to use as a vacation spot can be a special place where you go to relax and take a break from your...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

What You Need To Know About Today’s Down Payment Programs

Written by Marathon Florida Keys Mortgage on June 19, 2024. Posted in Buying Tips, First-Time Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

There’s no denying it’s gotten more challenging to buy a home, especially with today’s mortgage rates and home price appreciation. And that may be one of the big reasons you’re eager to look into grants and assistance programs to see if there’s anything you qualify for that can help. But unfortunately, many homebuyers feel like they don’t know where to start. A recent Bank of America Institute study asked prospective buyers where they lack confidence in the process and need more information. And this is what topped the list: 53% said they need help understanding...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Worried About Mortgage Rates? Control the Controllables

Written by Marathon Florida Keys Mortgage on June 18, 2024. Posted in Buying Tips, Economy, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Mortgage Rates.

Chances are you’re hearing a lot about mortgage rates right now. You may even see some headlines talking about last week’s Federal Reserve (the Fed) meeting and what it means for rates. But the Fed doesn’t determine mortgage rates, even if the headlines make it sound like they do. The truth is, mortgage rates are impacted by a lot of factors: geo-political uncertainty, inflation and the economy, and more. And trying to pin down when all those factors will line up enough for rates to come down is tricky. That’s why it’s generally not worth it to try to time the market. There’s too much at...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Savings Strategies Every First-Time Homebuyer Needs To Know

Written by Marathon Florida Keys Mortgage on June 11, 2024. Posted in Buying Tips, First-Time Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

If homeownership is on your goal sheet for your future, you’re probably working on your savings. And a big priority is making sure you’ve got a plan in place for things like your closing costs, down payment, and more. Here are a few strategies that can help speed up that process. Budget and Track Your Expenses: To start, create a detailed budget that tracks the money you’ve got coming in and the money going out. This’ll give you a better look at your finances as a whole. Cut Down on Unnecessary Spending: Now that you have your budget sheet done and you know how you’re spending your...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Top Reasons To Own a Home [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on May 31, 2024. Posted in Buying Tips, For Buyers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Some Highlights Buying a home has powerful financial and non-financial benefits. It creates more stability, helps grow your net worth, and gives you an undeniable sense of pride. While today’s market can be challenging for buyers, use these reasons to remind you of why homeownership is so worthwhile. When you’re ready to enjoy all the amazing advantages that come with owning a home, get in touch with a local real estate agent.

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

The Biggest Mistakes Buyers Are Making Today

Written by Marathon Florida Keys Mortgage on May 30, 2024. Posted in Buying Tips, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Buyers face challenges in any market – and today’s is no different. With higher mortgage rates and rising prices, plus the limited supply of homes for sale, there’s a lot to consider. But, there’s one way to avoid getting tripped up – and that’s leaning on a real estate agent for the best possible advice. An expert’s insights will help you avoid some of the most common mistakes homebuyers are making right now. Putting Off Pre-approval As part of the homebuying process, a lender will look at your finances to figure out what they’re willing to loan you for your mortgage. This gives...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

How Do Climate Risks Affect Your Next Home?

Written by Marathon Florida Keys Mortgage on May 28, 2024. Posted in Buying Tips, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Climate change is impacting where people buy homes. As the experts at the National Association of Realtors (NAR) explain: “Sixty-three percent of people who have moved since the pandemic began say they believe climate change is—or will be—an issue in the place they currently live.” If you’re planning to move, climate change is something you might want to consider, no matter where you are. A recent study from Realtor.com helps put the growing impact climate change is having on real estate into perspective (see below): So, how can you be sure your investment is safe from the elements? For...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

How VA Loans Can Help You Buy a Home

Written by Marathon Florida Keys Mortgage on May 27, 2024. Posted in Buying Tips, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

For over 80 years, Veterans Affairs (VA) home loans have helped millions of veterans buy their own homes. If you or someone you know has served in the military, it’s important to learn about this program and its benefits. Here are some key things to know about VA loans before buying a home. Top Benefits of VA Home Loans VA home loans make it easier for veterans to buy a home, and they’re a great perk for those who qualify. According to the Department of Veteran Affairs, some benefits include: Options for No Down Payment: Qualified borrowers can often purchase a home with no...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Worried about Home Maintenance Costs? Consider This

Written by Marathon Florida Keys Mortgage on May 21, 2024. Posted in Buying Tips, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

If one of the main reasons you’re hesitant to buy a home is because you’re worried about the upkeep, here’s some information you may find interesting on both new home construction and existing homes (a home that’s been lived in by a previous owner). Newly Built Homes Need Less Upfront Maintenance If you can afford it, you may find a newly built home could help ease your worries about maintenance costs. Think about it, if everything in the house is brand new, it won’t have the wear and tear you may see in an existing home – and that means it’s less likely to need repairs. As LendingTree...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Why a Condo May Be a Great Option for Your First Home

Written by Marathon Florida Keys Mortgage on May 15, 2024. Posted in Buying Tips, First-Time Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Having a hard time finding a first home that’s right for you and your wallet? Well, here’s a tip – think about condominiums, or condos for short. They’re usually smaller than single-family homes, but that’s exactly why they can be easier on your budget. According to the latest data from the National Association of Realtors (NAR), condos are typically less expensive than single-family homes (see graph below): So, if you’re comfortable with a smaller space and want to buy your first home this year, adding condos to your search might be easier on your wallet....

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

The Top 2 Reasons To Consider a Newly Built Home

Written by Marathon Florida Keys Mortgage on May 9, 2024. Posted in Buying Tips, First-Time Buyers, For Buyers, Inventory, Marathon FL Mortgage, Marathon Florida Keys Mortgage, New Construction.

When you’re planning a move, it’s normal to wonder where you’ll end up and what your future home is going to look like. Maybe you’ve got a specific picture of that house in your mind. But unless you came into this process knowing you want to buy a newly built home, you may not have pictured new home construction. A trusted real estate agent can help walk you through these two reasons you may want to reconsider that. 1. Adding Newly Built Homes Could Give You More Options There are two types of homes on the market: new and existing. A newly built home refers to a house that was just built...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Is a Multi-Generational Home Right for You?

Written by Marathon Florida Keys Mortgage on April 25, 2024. Posted in Buying Tips, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Ever thought about living in the same house with your grandparents, parents, or other loved ones? You’re not alone. A lot of people are choosing to buy multi-generational homes where everyone can live together. Let’s check out why they think it’s a good idea to see if it might be a good fit for you, too. Why People Are Choosing Multi-Generational Living According to the National Association of Realtors (NAR), here are just a few key reasons buyers opted for multi-generational homes over the past year (see graph below): Two of the top reasons had to do with aging parents. 27%...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Myths About the 2024 Housing Market [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on April 19, 2024. Posted in Buying Tips, Forecasts, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Tips.

Some Highlights When it comes to the current housing market, there are some myths circling around right now. Some of the more common ones are that it’s better to wait for mortgage rates to fall or prices to crash. But there are others about the supply of homes for sale and down payments. Lean on a real estate professional to help separate fact from fiction in today’s housing market.

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Is It Better To Rent Than Buy a Home Right Now?

Written by Marathon Florida Keys Mortgage on April 17, 2024. Posted in Buying Tips, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Rent vs. Buy.

You may have seen reports in the news recently saying it’s more affordable to rent right now than it is to buy a home. And while that may be true in some markets if you just look at typical monthly payments, there’s one thing that the numbers aren’t factoring in: and that’s home equity. Here’s a look at how big of an impact equity can have and why it’s worth considering as you make your decision. What the Headlines Are Based on The graph below uses national data on the median rental payment from Realtor.com and median mortgage payment from the National Association of Realtors (NAR) to...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Ways To Use Your Tax Refund If You Want To Buy a Home

Written by Marathon Florida Keys Mortgage on April 12, 2024. Posted in Buying Tips, First-Time Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Mortgage Rates.

Have you been saving up to buy a home this year? If so, you know there are a number of expenses involved – from your down payment to closing costs. But did you also know your tax refund can help you pay for some of these expenses? As Credit Karma explains: “If one of your goals is to stop renting and buy a home, you’ll need to save up for closing costs and a down payment on the mortgage. A tax refund can give you a start on the road to homeownership. If you’ve already started to save, your tax refund could move you down the road faster.” While how much money you may get in a tax refund is...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl