Avoid the Rental Trap in 2022

Written by Marathon Florida Keys Mortgage on January 4, 2022. Posted in First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Rent vs. Buy.

Are you one of the many renters thinking about where you’ll live the next time your lease is up? Before you decide whether to look for a new house or another apartment, it’s important to understand the true costs of renting in 2022. As a renter, you should know rents have been rising since 1988 (see graph below): In 2021, rents grew dramatically. According to ApartmentList.com, since January 2021: “. . . the national median rent has increased by a staggering 17.8 percent. To put that in context, rent growth from January to November averaged just 2.6 percent in the pre-pandemic years from...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

How Much Do You Need for Your Down Payment?

Written by Marathon Florida Keys Mortgage on January 3, 2022. Posted in Buying Myths, Down Payments, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

As you set out on your homebuying journey, you likely have a plan in place, and you’re working on saving for your purchase. But do you know how much you actually need for your down payment? If you think you have to put 20% down, you may have set your goal based on a common misconception. Freddie Mac says: “The most damaging down payment myth—since it stops the homebuying process before it can start—is the belief that 20% is necessary.” Unless specified by your loan type or lender, it’s typically not required to put 20% down. According to the Profile of Home Buyers and Sellers from the National...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Expert Insights on the 2022 Housing Market

Written by Marathon Florida Keys Mortgage on December 29, 2021. Posted in For Buyers, For Sellers, Housing Market Updates, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing.

As we move into 2022, both buyers and sellers are wondering, what’s next? Will there be more homes available to buy? Will prices keep climbing? How high will mortgage rates go? For the answer to those questions and more, we turn to the experts. Here’s a look at what they say we can expect in 2022. Odeta Kushi, Deputy Chief Economist, First American: “Consensus forecasts put rates at about 3.7% by the end of next year. So, that’s still historically low, but certainly higher than they are today.” Danielle Hale, Chief Economist, realtor.com: “Affordability will increasingly be a challenge...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

5 Tips for Making Your Best Offer on a Home

Written by Marathon Florida Keys Mortgage on December 28, 2021. Posted in Buying Myths, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

As a buyer in a sellers’ market, sometimes it can feel like you’re stuck between a rock and a hard place. When you’re ready to make an offer on a home, remember these five easy tips to help you rise above the competition. 1. Know Your Budget Knowing your budget and what you can afford is critical to your success as a homebuyer. The best way to understand your numbers is to work with a lender so you can get pre-approved for a loan. As Freddie Mac puts it: “This pre-approval allows you to look for a home with greater confidence and demonstrates to the seller that you are a serious buyer.” Showing...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Key Things To Avoid After Applying for a Mortgage

Written by Marathon Florida Keys Mortgage on December 27, 2021. Posted in Buying Myths, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Once you’ve found your dream home and applied for a mortgage, there are some key things to keep in mind before you close. It’s exciting to start thinking about moving in and decorating your new place, but before you make any large purchases, move your money around, or make any major life changes, be sure to consult your lender – someone who’s qualified to explain how your financial decisions may impact your home loan. Here’s a list of things you shouldn’t do after applying for a mortgage. They’re all important to know – or simply just good reminders – for the process. 1. Don’t Deposit Cash...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

When a House Becomes a Home

Written by Marathon Florida Keys Mortgage on December 23, 2021. Posted in First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

It’s clear that owning a home makes financial sense. But lately, the emotional side of what drives homeownership is becoming increasingly important. No matter the living space, the feeling of a home means different things to different people. Whether it’s a familiar scent or a favorite chair, the feel-good connections to our own homes can be more important to us than the financial ones. Here are some of the reasons why. 1. Owning your home is an accomplishment worth celebrating You’ve put in a lot of work to achieve the dream of homeownership, and whether it’s your first home or your fifth,...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

The Perks of Putting 20% Down on a Home

Written by Marathon Florida Keys Mortgage on December 22, 2021. Posted in Down Payments, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

If you’re thinking of buying a home, you’re probably wondering what you need to save for your down payment. Is it 20% of the loan, or could you put down less? While there are lower down payment programs available that allow qualified buyers to put down as little as 3.5%, it’s important to understand the many perks that come with a 20% down payment. Here are four reasons why putting 20% down may be a great option if it works within your budget. 1. Your Interest Rate May Be Lower A 20% down payment vs. a 3-5% down payment shows your lender you’re more financially stable and not a large credit...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Homebuyers: Be Ready To Act This Winter

Written by Marathon Florida Keys Mortgage on December 20, 2021. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

To succeed as a buyer in today’s market, it’s important to understand which market trends will have the greatest impact on your home search. Danielle Hale, Chief Economist at realtor.com, says there are two factors every buyer should keep their eyes on: “Going forward, the conditions buyers face are primarily dependent on two things: mortgage rates and housing supply.” Here’s a look at each one. Mortgage Rates Projected To Rise in 2022 As a buyer, your interest rate directly impacts how much you’ll pay on your monthly mortgage when you purchase a home. Rates are beginning to rise, and experts...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

2022 Housing Market Forecast [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on December 17, 2021. Posted in First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Infographics, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Pricing.

Some Highlights What does the coming year hold for the housing market? Here’s what experts project for 2022. Mortgage rates are projected to rise and so are home prices. Experts are forecasting buyer demand will remain strong as people try to capitalize on rates and prices before they climb, creating another strong year for home sales. Let’s connect so you can make your best move in the new year. Content previously posted on Keeping Current Matters

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Homebuyers Are Going on a Shopping Spree This Winter

Written by Marathon Florida Keys Mortgage on December 16, 2021. Posted in For Buyers, For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

Black Friday and Cyber Monday are over, which means some shoppers have wrapped up their holiday buying. But there’s still a group of buyers that are very active this holiday season – homebuyers. Experts anticipate the real estate market will see a flurry of activity this winter, and that’s great news for today’s sellers. If you’re planning on listing your home, there’s no need to wait until the spring for better conditions – today’s real estate market is already heating up. Buyers Have Warmed Up to the Idea of Purchasing This Winter The past 18 months brought about significant lifestyle changes...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

What Everyone Wants To Know: Will Home Prices Decline in 2022?

Written by Marathon Florida Keys Mortgage on December 15, 2021. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Pricing.

If you’re thinking of buying a home in today’s housing market, you may be wondering how strong your investment will be. You might be asking yourself: if I buy a home now, will it lose value? Or will it continue to appreciate going forward? The good news is, according to the experts, home prices are not projected to decline. Here’s why. With buyers still outweighing sellers, home prices are forecast to continue climbing in 2022, just at a slower or more moderate pace. Why the continued increase? It’s the simple law of supply and demand. When there are fewer items on the market than there are...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Advice for First-Generation Homebuyers

Written by Marathon Florida Keys Mortgage on December 14, 2021. Posted in Demographics, First Time Home Buyers, For Buyers, Gen Z, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Millennials.

The sense of pride you’ll feel when you purchase a home can’t be overstated. For first-generation homebuyers, that feeling of accomplishment is even greater. That’s because the pride of homeownership for first-generation buyers extends far beyond the homebuyer. AJ Barkley, Head of Neighborhood and Community Lending for Bank of America, says: “Achieving this goal can create a sense of pride and accomplishment that resonates both for the buyer and those closest to them, including their parents and future generations.” In other words, your dream of homeownership has far-reaching impacts. If...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

If You Think the Housing Market Will Slow This Winter, Think Again.

Written by Marathon Florida Keys Mortgage on December 13, 2021. Posted in For Buyers, For Sellers, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

From the opportunity to take advantage of today’s low mortgage rates to changing homeowner needs, Americans have more motivation than ever to buy a home. According to the experts, buyers are making moves right now, creating an unseasonably strong housing market for this time of year. As we wrap up the fall season and move into the winter months, here’s a look at what several industry leaders have to say about the continued momentum in the current market, and what it means as we head into the early part of next year. Lawrence Yun, Chief Economist, National Association of Realtors (NAR) “This...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

A Happy Tail: Pets and the Homebuying Process [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on December 10, 2021. Posted in For Buyers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Some Highlights It’s no secret that we love our furry friends – about 70% of U.S. households have pets. What may come as a surprise is how large a role they play in the homebuying process. Americans spend $1,163 a year on their pets, and nearly half of pet owners say they would move for better accommodations and amenities for their pets. If you’re thinking of adding a furry friend, or if you already have, let’s connect to discuss how you can find a home that meets all your pet’s needs. Content previously posted on Keeping Current Matters

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Two Reasons Why Waiting To Buy a Home Will Cost You

Written by Marathon Florida Keys Mortgage on December 9, 2021. Posted in Buying Myths, First Time Home Buyers, For Buyers, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, Pricing.

If you’re a homeowner who’s decided your current house no longer fits your needs, or a renter with a strong desire to become a homeowner, you may be hoping that waiting until next year could mean better market conditions to purchase a home. To determine whether you should buy now or wait another year, you can ask yourself two simple questions: Where will home prices be a year from now? Where will mortgage rates be a year from now? Let’s shed some light on the answers to both of these questions. Where Will Home Prices Be a Year from Now? Three major housing industry entities are projecting...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Struggling To Find a Home To Buy? New Construction May Be an Option.

Written by Marathon Florida Keys Mortgage on December 8, 2021. Posted in For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers, New Construction.

There’s no question that the financial benefits of selling a house are outstanding today. Now is truly a great time to list if you’re ready to make a change. But if you do sell your house right now, you may be wondering where you’ll go when you move. With so few homes available to buy right now, you might be considering building a new home as one of your options. But you may be unsure if that’s the way to go. Let’s compare the benefits of a newly built home versus moving into an existing one, and why working with a real estate agent throughout the process is mission-critical to your success...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Why It Just Became Much Easier To Buy a Home

Written by Marathon Florida Keys Mortgage on December 7, 2021. Posted in Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

Since the pandemic began, Americans have reevaluated the meaning of the word home. That’s led some renters to realize the many benefits of homeownership, including the feelings of security and stability and the financial benefits that come with rising home equity. At the same time, many current homeowners have decided their house no longer meets their needs, so they moved into homes with more space inside and out, including a home office for remote work. However, not every purchaser has been able to fulfill their desire for a new home. Here are two obstacles some homebuyers are facing: The...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Tips for Single Homebuyers: How To Make Your Dream a Reality

Written by Marathon Florida Keys Mortgage on December 2, 2021. Posted in Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

If you’re living on your own and looking to buy a home, know that you can make your dream a reality with thoughtful planning and the right team of experts. Research from Freddie Mac shows 28% of all households (36.1 million) are sole-person, and that number is growing. Over the past 40 years, the number of sole-person households has nearly doubled, and that’s a trend that’s expected to continue. According to Freddie Mac: “Our calculation suggests that there will be an additional 5 million sole-person households in the United States by the next decade. This means 42% of the household growth...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

How To Think Strategically as a Buyer in Today’s Market

Written by Marathon Florida Keys Mortgage on December 1, 2021. Posted in Buying Myths, First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

The game of chess can provide incredible lessons to apply to all aspects of life, including the homebuying process. Chess requires you to plan and think about your strategy from the very beginning of the game. The homebuying process, like chess, requires strategy and planning. Here are a few things to keep in mind to ensure your plan is as strong as possible when you begin your home search. Pre-Approval: the Best Opening Play To Make as a Homebuyer It’s important to have a great opening play when you’re buying a home. And the best move you can make when you begin your home search is getting...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Home Is Where the Heart Is More than Ever This Year

Written by Marathon Florida Keys Mortgage on November 30, 2021. Posted in First Time Home Buyers, For Buyers, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

There’s no denying the financial benefits of homeownership, but what’s often overlooked are the feelings of gratitude, security, pride, and comfort we get from owning a home. This year, those emotions are stronger than ever. We’ve lived through a time that has truly changed our needs and who we are, and as a result, homeownership has a whole new meaning for many of us. According to the 2021 State of the American Homeowner report by Unison: “Last year, staying home became a necessity and that caused many homeowners to have renewed gratitude for the roof over their head.” As a nation, we continue...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Reasons To Hire a Real Estate Professional [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on November 26, 2021. Posted in For Buyers, For Sellers, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Some Highlights Whether you’re buying or selling, there are many perks that come from working with a real estate advisor. Real estate professionals are experts at navigating all aspects of the buying and selling process, including negotiating on your behalf. We can also explain today’s market and break down what it means for you. Don’t go at it alone. Let’s connect today so you have advice and an expert to count on each step of the way. Content previously posted on Keeping Current Matters

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

How Smart Buyers Are Approaching Rising Mortgage Rates

Written by Marathon Florida Keys Mortgage on November 24, 2021. Posted in Buying Myths, First Time Home Buyers, For Buyers, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

Last week, the average 30-year fixed mortgage rate from Freddie Mac inched up to 3.1%, and experts project rates will continue rising through 2022: “The 30-year fixed-rate mortgage was 2.9% in the third quarter of 2021. We forecast mortgage rates to increase slightly through the remainder of the year and reach 3.0%, rising to 3.5% for full year 2022.” If you’re thinking of buying a home, here are a few things to keep in mind so you can succeed even as mortgage rates rise. Taking Time Off Can Be Costly Mortgage rates play a significant role in your home search. As rates go up, your monthly...

#marathonflmortgage, #marathonflmortgagerates, #mortgagemarathonfl

Category: For Buyers