Real Estate Tips

Quick tidbits of advice and ideas about real estate.

Found 131 blog entries about Real Estate Tips.

Many homebuyers don't know they can take a second mortgage on their homes. The first loan, the primary mortgage, is taken while purchasing a property. A second mortgage is a type of mortgage that lets you borrow against the value of the same property while your first loan is not fully paid. 

Knowing how second mortgages work can be beneficial in the future, especially when you need quick cash for an emergency, school fees, debt, and more. In this article, we’re going to break down how second mortgages work and when you might consider getting one.

What is a Second Mortgage?

A second mortgage is a type of subordinate mortgage obtained while a primary mortgage is still in effect. In cases of default, the proceeds from the home’s liquidation

444 Views, 0 Comments

If you want to purchase a house for the first time but don’t have enough money for a down payment, getting a state or local down payment assistance program might be the best option.

We’re going to look at what down payment assistance programs are all about and how you could qualify for one.

What is Down Payment Assistance? 

Down payment assistance is any funding option or program that makes it easier for homebuyers to get the money they need for a down payment. Both public and government agencies offer these programs, usually as grants. They typically work by either providing the buyer the funds to cover the down payment or waiving the down payment requirements. 

Most of the time, you need to meet some specific income requirements to

614 Views, 0 Comments

When you envision the process of selling your home and buying a new property, you likely imagine synchronizing the sale with the purchase so that both close at nearly the same time. Only a fortunate few homeowners enjoy this level of perfect serendipity. What usually happens instead is that either your buyer or the seller of your new home will complete their transaction well ahead of the other—in fact, one of the transactions may not have even begun before the other closes! With this possibility in mind, let’s examine the options available to you as you work to juggle the many complexities you and your buyer may face.

The advantage to being the seller whose home sells before you’ve purchased a new home is that you won’t have to be responsible for

1,188 Views, 0 Comments

When you are preparing to purchase a home, it’s worth considering whether a single-family home or a condominium (or condo) will best suit your needs. Today, we’ll discuss the pros and cons of condos, who they’re best suited to, and how HOAs can both complicate and streamline your life as a condo owner. Read on for everything you need to know about condos.

Are You a Condo Candidate?

For first-time homebuyers searching for lower down payment options, condominiums can serve as an equity-building stepping stone toward traditional home ownership. Retirees looking for a way to downsize may also benefit from selling their larger homes and purchasing a condo for their golden years. Condominiums may also be constructed in urban centers, giving

741 Views, 0 Comments

Buying mortgage points is a way to secure a lower interest rate during the home buying process. It can save you several thousands of dollars in interest over the life of the loan and lower your monthly mortgage payment. Check out this nifty guide to learn how they’re calculated so you can assess if purchasing mortgage points makes sense for your situation.

Mortgage Points: What are they?

Mortgage points, also known as discount points, are fees you pay your lender to reduce your interest rate when you purchase homes or refinance. You’ll give your mortgage lender cash upfront to reduce your interest rate for the life of the loan. 

Should You Buy Discount Points?

If you have the budget for buying points, the decision often comes down to

1,336 Views, 0 Comments

Do you have plans to purchase a retirement house? It doesn’t matter if you’ve already retired or still have a long way to go before retiring. The perfect time to plan for your future home is now. 

This article will break down essential details that you’ll need to consider before buying your retirement home.

Should you buy before or after retiring?

Purchasing a retirement home well before retirement age has many benefits. Firstly, it’s easier to qualify for a mortgage while still having a job and the income to pay expenses. Secondly, you could put the house up for rent for profit –or at least to cover the monthly mortgage of the second home. 

Buying a home after retiring also has its perks. First, if you’re not sure where you want to

1,426 Views, 0 Comments

When you’re ready to sell your home, time is quite literally money. In this competitive seller’s market, you can capture the attention of buyers by taking simple steps to boost curb appeal. The following suggestions from our team are tried-and-true methods to ensure your home is snapped up as swiftly as possible.

Take a Photo to Gain Perspective

We view our homes through our own personal lens. This lens is colored by our emotions, experiences, expectations, and preferences. To help homeowners overcome this hurdle, we recommend taking a photo from the street. This type of photo will be the style prospective buyers will first encounter and will capture the first impression your home will make during tours and open house events. 

View the

1,666 Views, 0 Comments

Did you know that you could save thousands of dollars if you prepare your credit before applying for a mortgage? Your credit score is one of the most critical factors that determine your mortgage interest rate and which home loan program you qualify for.

This article will show you how you can get your credit in top shape for your upcoming mortgage.

1.) Learn where your credit scores stand.

First off, know that your credit score doesn’t have to be perfect to buy a home. Several loan programs allow buyers with credit scores in the low 500s to purchase a home. However, you should be aware that with low credit scores typically come paying higher interest rates.

Because of this, we recommend you begin by checking your credit scores so that

2,093 Views, 0 Comments

If you think that buying a house with bad credit is impossible, we have good news! It may be more complex, but it can be done!

But before you go house hunting, it's essential that you review your financial situation. Homeownership involves unexpected expenses that may be hard to cover if you're financially unstable. 

Let's look at how lenders understand a bad credit score, the loan options available for struggling credit, and the average credit requirements for getting approved for a loan.

What Is Considered A Bad Credit Score?

When it comes to conventional home loans, mortgage lenders can set their own credit score requirements. Because credit scores are used to determine risk, they essentially set the maximum risk they are willing to

1,626 Views, 0 Comments

One of the greatest aspects of being a homeowner is the freedom to upgrade and remodel your home as you please. While renters are usually limited to personalizing their homes with potted plants and artwork, homeowners can rearrange the very walls of their properties.

Still, as you begin your search for a home to purchase, keep in mind that not all remodeling undertakings will repay your investments equally. The worst time to discover that you’ve chosen the wrong projects is when you’re ready to put your home up for sale. To help you avoid common cash-consuming mistakes, our team did the math, read the statistics, and we’re ready to share our top ten projects that could lower your home value.

1.) DIY Projects (Above Your Ability)

DIY

2,558 Views, 0 Comments