Why More People Are Buying Multi-Generational Homes Today

Written by Hialeah FL Mortgage Syndicated User on January 22, 2025. Posted in Buying Tips, For Buyers, Hialeah FL Condo Financing, Hialeah FL Mortgage, Hialeah FL Mortgage Rates.

Today, 17% of homebuyers are choosing multi-generational homes — that’s when you buy a house with your parents, adult children, or even distant relatives. What makes that noteworthy is that 17% is actually the highest level ever recorded by the National Association of Realtors (NAR). But what’s driving the recent rise in multi-generational living?Top Benefits of Choosing a Multi-Generational HomeIn the past, homebuyers often opted for multi-generational homes to make it easier to care for their parents. And while that’s still a key reason, it’s not the only one. Right now, there’s another powerful...

The Truth About Credit Scores and Buying a Home

Written by Hialeah FL Mortgage Syndicated User on January 15, 2025. Posted in Buying Tips, For Buyers, Hialeah FL Condo Financing, Hialeah FL Mortgage, Hialeah FL Mortgage Rates.

Your credit score plays a big role in the homebuying process. It’s one of the key factors lenders look at to determine which loan options you qualify for and what your terms might be. But there’s a myth about credit scores that may be holding some buyers back.The Myth: You Need To Have Perfect CreditAccording to Fannie Mae, only 32% of potential homebuyers have a good idea of what credit score lenders actually require. That means two-thirds of buyers don’t actually know what lenders are looking for – and most overestimate the minimum credit score needed.The Reality: Perfect Isn’t NecessaryBut...

What To Save for When Buying a Home

Written by Hialeah FL Mortgage Syndicated User on January 10, 2025. Posted in Agent Value, Buying Tips, For Buyers, Hialeah FL Condo Financing, Hialeah FL Mortgage, Hialeah FL Mortgage Rates.

Knowing what to budget for when buying a home may feel intimidating — but it doesn’t have to be. By understanding the costs you may encounter upfront, you can take control of the process.Here are just a few things experts say you should be thinking about as you plan ahead.1. Down PaymentSaving for your down payment is likely top of mind. But how much do you really need? A common misconception is that you have to put down 20% of the purchase price. But that’s not necessarily the case. Unless it’s specified by your loan type or lender, you don’t have to. There are some home loan options that require...

Get Ready To Buy a Home in 2025

Written by Hialeah FL Mortgage Syndicated User on January 4, 2025. Posted in Buying Tips, For Buyers, Hialeah FL Condo Financing, Hialeah FL Mortgage, Hialeah FL Mortgage Rates, Infographics.

Some HighlightsIf buying a home is on your goal sheet this year, here’s how to make it happen.Focus on improving your credit, planning for your down payment, getting pre-approved, and prioritizing your wish list.But first, connect with a trusted agent and lender so you have expert advice every step of the way.

New Year, New Home: How To Make It Happen in 2025

Written by Hialeah FL Mortgage Syndicated User on January 2, 2025. Posted in Buying Tips, For Buyers, Hialeah FL Condo Financing, Hialeah FL Mortgage, Hialeah FL Mortgage Rates.

This is the time when a lot of people take a moment to reflect and set their goals for this year. And as you picture what you want your 2025 to look like, one thing that may pop into your mind is the vision of you in a new home. But how do you get there? And where do you start?Here’s some advice that can help you get the ball rolling. Focus on Your WhyTo lay the foundation, you need to focus on your why. While the dollars and cents are important, so is the driving force behind your desire to move. Maybe you need more space for a growing family, want to sell so you can downsize, or are finally...

Simple Steps To Help You Save for Your First Home

Written by Hialeah FL Mortgage Syndicated User on January 1, 2025. Posted in Buying Tips, First-Time Buyers, For Buyers, Hialeah FL Condo Financing, Hialeah FL Mortgage, Hialeah FL Mortgage Rates.

Turning a dream into reality starts with one thing: a plan. And if buying your first home is on your list of goals, now’s the perfect time to put a plan in motion to help you save.And the best part? Reaching your savings goal doesn’t mean making huge sacrifices overnight – small, consistent steps can get you there over time. Here are a few strategies that can help speed up the process.Step 1: Build a Budget That Works for YouKnowing where your money’s going is the first step to saving more of it. Take some time to track the money you’ve got coming in and going out. This helps you spot areas...

The Biggest Perks of Buying a Home This Winter

Written by Hialeah FL Mortgage Syndicated User on December 19, 2024. Posted in Buying Tips, First-Time Buyers, For Buyers, Hialeah FL Condo Financing, Hialeah FL Mortgage, Hialeah FL Mortgage Rates.

Waiting for perfect market conditions often means missing out. Because what you may not realize is, if you’re ready and able to buy, this time of year could actually give you an edge. Here’s why. As the weather cools down, the housing market can too – and that works in your favor.You Likely Won’t Feel as RushedHomes tend to take a little longer to sell during this time of year. Data from the National Association of Realtors (NAR) shows the average time a house sits on the market jumps up during the winter months (see the green bars in the graph below):This is partly because fewer buyers are...

The Top 2 Reasons To Look at Newly Built Homes

Written by Hialeah FL Mortgage Syndicated User on December 13, 2024. Posted in Buying Tips, First-Time Buyers, For Buyers, Hialeah FL Condo Financing, Hialeah FL Mortgage, Hialeah FL Mortgage Rates, Inventory.

When planning a move, a newly built home might not be the first thing that comes to mind. But with more brand-new homes on the market and builders focusing on smaller, more affordable options, this type of home may just be the key to crossing the homebuying finish line. Here’s why a new build is worth considering – and how an agent can help you find one that meets your needs and your budget. 1. More Newly Built Homes Are Available Right NowFirst, let’s break down the types of homes on the market. A newly built home is a house that was just built or is under construction. On the other hand,...

How Co-Buying a Home Helps with Affordability Today

Written by Hialeah FL Mortgage Syndicated User on November 27, 2024. Posted in Buying Tips, For Buyers, Hialeah FL Condo Financing, Hialeah FL Mortgage, Hialeah FL Mortgage Rates.

Buying a home in today’s market can feel like an uphill battle – especially with home prices and mortgage rates putting pressure on your budget. If you’re feeling stuck, co-buying could be one way to help you get your foot in the door. Freddie Mac says:“If you are an aspiring homeowner, buying a home with your family or friends could be an option.”But there are some things you’ll want to consider first. Let’s explore why co-buying is gaining popularity right now among some buyers and see if it may make sense for you too.What Is Co-Buying?Co-buying means buying a home with someone like...

Don’t Miss Out on the Growing Number of Down Payment Assistance Programs

Written by Hialeah FL Mortgage Syndicated User on November 22, 2024. Posted in Agent Value, Buying Tips, For Buyers, Hialeah FL Condo Financing, Hialeah FL Mortgage, Hialeah FL Mortgage Rates.

With rising home prices and volatile mortgage rates, it’s important you know about every resource that could help make buying a home possible. And one thing you’ll want to be aware of is just how much the number of down payment assistance (DPA) programs has grown lately. Take a look at the graph below to see how many new programs have been added in the last year, according to data from Down Payment Resource:More Programs, More Opportunities for YouSo, what does this increase mean for you? With more programs available, there’s a higher likelihood that one of them could help you reach your homeownership...

Category: Buying Tips