Posts with tag 'Home-buying tips'
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13
Mortgage Application Denied? Take These Steps Next
Buying a new home is exciting! You've checked out available South Bend homes for sale, figured out your down payment, and have a mortgage pre-approval letter from a lender. You finally found the perfect home and it's time to get a mortgage. You apply, get excited, start packing and then you hear the two most dreaded words in the home buying process: "Mortgage Denied."
It happens. If you've been rejected for a loan, it can be jarring, but you can turn it around. The key is understanding the reason(s) why you were turned down, and how to fix any problems.
11
St. Joseph, MI: 5 Condo Considerations
If you're tired of paying rent but would like to pay a bit less than a typical single-family home costs, buying a condo in Saint Joseph, MI can offer the best of both worlds for some buyers. You'll own your unit and will build equity, but outside maintenance will be taken care of. In addition, prices for condos tend to be less than those for single-family homes.
Our real estate agents suggest the following five things to look for if you're thinking about buying a condo:
- What amenities are available?
One advantage of condo living is that you may be able to enjoy amenities that many homeowners don't have. St. Joseph has some high-end condos with water views, so you may be able to have some impressive extras that might not have fit into your budget otherwise. You may also have access to other amenities such as a pool, tennis court, greenspace or fitness center. And if you like to socialize, look for a community that hosts events for its residents at the property's clubhouse.
28
Buying and Selling a Home: How to Bridge the Gap
There may be a point when you're faced with a sudden transition and have to purchase a new property even before you sell your old one. In this scenario, you might wonder if you should apply for a bridge loan to span the gap between the sale and purchase. Our real estate agents explain how bridge loans can ease the transition from one house to another.
What Are Bridge Loans?
Also known as "gap financing," bridge loans are temporary loans used in residential and commercial real estate. They provide a lifeline for buyers who are eager to buy a new home before they've sold their current one. Unless you have enough cash for the down payment, it can be hard to qualify for a loan to finance a new home while you're still saddled with mortgage payments on your current home.
With a bridge loan, you'll use the loan amount as the down payment for your new home, which makes the process go more smoothly. And like home equity loans, HELOCs, and mortgages, your current home will serve as collateral. You can then move into your new home and start focusing on selling the old one.
15
First-Time Buyers: Here Are the Tools That Will Make Your Life Easier
If you've just become a homeowner for the first time, you're probably feeling thrilled, exhilarated, and probably more than a little exhausted. If so, you're far from alone.
Our real estate agents understand the challenges of homeownership, and once you've made it through the homebuying process, it's time to start thinking about the ongoing responsibilities of owning and maintaining your home. These are the tools you'll need now that your home's maintenance is your responsibility.
- Adjustable Crescent Wrench
No need to invest in a whole set of wrenches in every size. Just get a couple of adjustable crescent wrenches, so you can match the jaws to nuts and bolts of any size. Go for a self-ratcheting wrench so you don't have to remove it from the bolt over and over again to tighten it.
9
5 Tips for Multi-Generational Homebuying
When you're looking to buy a home, there are plenty of things to think about. Not the least of which is whether or not you want a home that can accommodate your parents, grandparents, or even your kids years down the road if necessary. We always hope that our elders and children live long, healthy lives, but there are times where they need help from family members.
Our real estate agents understand the challenges to multi-generational homebuyers, so we've put together these five tips for buying with a multi-generational focus.
- Why Consider Multi-Generational Living?
You never really know what's waiting around the corner, but keeping a close eye on what's happening currently with both your family, as well as economic conditions, can help you buy now for later.
Multi-generational homes have been around for decades, but the market crash of 2008 made them a mainstay in the housing industry. As the housing market plummeted, more and more families were forced into single homes. Parents moved in with children, grandparents moved in with grandchildren, and children moved in with both.
All of that to say, know what you may be in for based on your family's dynamics.
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