Why Buying a Home Makes More Sense Than Renting Today

Written by Emerald Coast Mortgage Syndicated User on May 1, 2023. Posted in Buying Myths, Emerald Coast Mortgage, First Time Home Buyers, For Buyers, Mortgage Emerald Coast, Rent vs. Buy.

Wondering if you should continue renting or if you should buy a home this year? If so, consider this. Rental affordability is still a challenge and has been for years. That’s because, historically, rents trend up over time. Data from the Census shows rents have been climbing pretty steadily since 1988. And, data from the latest rental report from Realtor.com shows rents continue to grow today, even though it’s at a slower pace than we saw at the height of the pandemic:“In March 2023, the U.S. rental market experienced single-digit growth for the eighth month in a row . . . The median asking...

Ways To Overcome Affordability Challenges in Today’s Housing Market [INFOGRAPHIC]

Written by Emerald Coast Mortgage Syndicated User on May 1, 2023. Posted in Emerald Coast Mortgage, First Time Home Buyers, For Buyers, Infographics, Interest Rates, Mortgage Emerald Coast, Move-Up Buyers, Pricing.

Some HighlightsWith so few homes on the market right now, widening the scope of your search to include nearby areas could help you find more options in your budget.You can also work with a trusted lender to consider alternative financing options and search for down payment assistance.If you’ve been searching for a home but are concerned about rising costs, make sure you have a team of trusted real estate professionals for expert advice.

The Three Factors Affecting Home Affordability Today

Written by Emerald Coast Mortgage Syndicated User on May 1, 2023. Posted in Emerald Coast Mortgage, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Mortgage Emerald Coast, Move-Up Buyers, Pricing.

There’s been a lot of focus on higher mortgage rates and how they’re creating affordability challenges for today’s homebuyers. It’s true that rates climbed dramatically since the record-low we saw during the pandemic. But home affordability is based on more than just mortgage rates – it’s determined by a combination of mortgage rates, home prices, and wages.Considering how each one of these factors is changing gives you the full picture of home affordability today. Here’s the latest.1. Mortgage RatesWhile mortgage rates are higher than they were a year ago, they’ve hovered primarily between...

Facts About Closing Costs [INFOGRAPHIC]

Written by Emerald Coast Mortgage Syndicated User on April 1, 2023. Posted in Buying Myths, Emerald Coast Mortgage, First Time Home Buyers, For Buyers, Infographics, Mortgage Emerald Coast, Move-Up Buyers.

What You Should Know About Rising Mortgage Rates

Written by Emerald Coast Mortgage Syndicated User on March 1, 2023. Posted in Emerald Coast Mortgage, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Mortgage Emerald Coast, Move-Up Buyers.

After steadily falling over the winter, mortgage rates have started to rise in recent weeks. This is concerning to some potential homebuyers as the combination of higher mortgage rates and higher prices have made homes less affordable. So, if you’re planning to purchase a home this year, you too may be wondering if now’s the right time to buy or if you should hold off on your search until rates come back down.

One Major Benefit of Investing in a Home

Written by Emerald Coast Mortgage Syndicated User on March 1, 2023. Posted in Emerald Coast Mortgage, First Time Home Buyers, For Buyers, Housing Market Updates, Mortgage Emerald Coast, Move-Up Buyers.

One of the many reasons to buy a home is that it’s a major way to build wealth and gain financial stability. According to Freddie Mac:

Homeownership Builds Your Wealth over Time [INFOGRAPHIC]

Written by Emerald Coast Mortgage Syndicated User on February 1, 2023. Posted in Emerald Coast Mortgage, First Time Home Buyers, For Buyers, Infographics, Mortgage Emerald Coast, Move-Up Buyers, Pricing.

Applying For a Mortgage? Here’s What You Should Avoid Once You Do.

Written by Emerald Coast Mortgage Syndicated User on January 1, 2023. Posted in Buying Myths, Emerald Coast Mortgage, First Time Home Buyers, For Buyers, Mortgage Emerald Coast.

While it’s exciting to start thinking about moving in and decorating after you’ve applied for your mortgage, there are some key things to keep in mind before you close. Here’s a list of things you may not realize you need to avoid after applying for your home loan. Don’t Deposit Large Sums of Cash Lenders need to source your money, and cash isn’t easily traceable. Before you deposit any amount of cash into your accounts, discuss the proper way to document your transactions with your loan officer. Don’t Make Any Large Purchases It’s not just home-related purchases that could disqualify you from...

What You Want To Know If You’re Pursuing Your Dream of Homeownership

Written by Emerald Coast Mortgage Syndicated User on December 1, 2022. Posted in Buying Myths, Emerald Coast Mortgage, First Time Home Buyers, For Buyers, Gen Z, Housing Market Updates, Millennials, Mortgage Emerald Coast, Move-Up Buyers.

If you’re a young adult, you may be thinking about your goals and priorities for the months and years ahead. And if homeownership ranks high on your goal sheet, you’re in good company. Many of your peers are also pursuing their dream of owning a home. The 2022 Millennial & Gen Z Borrower Sentiment Report from Maxwell says: “Many young adults have demonstrated their resolve to embark on the journey toward homeownership soon. More than half of millennials and Gen Zs plan to apply for a mortgage sometime within the next year.” Let’s take a look at why homeownership makes the top of so many...

Why There Won’t Be a Flood of Foreclosures Coming to the Housing Market

Written by Emerald Coast Mortgage Syndicated User on December 1, 2022. Posted in Distressed Properties, Emerald Coast Mortgage, For Buyers, For Sellers, Foreclosures, Mortgage Emerald Coast.

With the rapid shift that’s happened in the housing market this year, some people are raising concerns that we’re destined for a repeat of the crash we saw in 2008. But in truth, there are many key differences between what’s happening today and the bubble in the early 2000s. One of the reasons this isn’t like the last time is the number of foreclosures in the market is much lower now. Here’s a look at why there won’t be a wave of foreclosures flooding the market. Not as Many Homeowners Are in Trouble This Time After the last housing crash, over nine million households lost their homes due to...

Category: For Buyers