You are moving from your current home and want to gift it to a loved one like an adult child. It can’t be that hard, right? Gifting your home to a loved one can be trickier than you may think, but they are doable when researched thoroughly.
Where a school district is located has a significant effect on the property values of nearby homes. School districts with a good reputation attract families with school-aged children, creating a demand for nearby real estate. This demand can drive up property values.
The Wealth of Homeowners
In and of itself, a good school district is not responsible for rising property values. For the most part, good schools tend to be located in neighborhoods that are more affluent and have a higher standard of living. [Read more…]
Is your mortgage company veteran friendly? Veterans have unique needs and requirements than civilians, so your mortgage company needs to be able accommodate them respectfully and efficiently. Here’s why you company should be veteran friendly:
Veterans Have Different Needs
Unlike civilian home buyers, veterans tend to have different and more unique needs. For example, the VA has minimum property requirements (MPR’s) that veterans must meet when looking for a home in order to be eligible for a VA loan. [Read more…]
If you’re in the market for a new home, there’s a lot to consider like price, square footage, number of bedrooms or bathrooms, the layout design and more. But one of the most important factors is the quality of nearby school districts. Even if you don’t have children or don’t plan to have any, school districts should be on every buyer’s radar. [Read more…]
A new home is one of the biggest purchases you can make. So to buy the home you want, it’s a good idea to start saving up early so you can cover the costs of buying a home. To start saving up, opening a savings accounts is a great first step for future homeowners. When you open a savings account, there will be a savings rate associated with that account. What is it and how does it affect you? [Read more…]
As we have previously discussed, if you have a bank levy taken out against you and you have a joint account with your spouse or non-spouse, money will be taken out regardless. However, it can differ depending on your unique situation and the state you live in.
Spouses Typically Share Debt Liability
While spring and summer are the high season for home sales, fall can be a buyer’s market. There are several benefits of buying a home in the off-season, like lower prices and quicker closings.
Higher Availability of Industry Professionals
An advantage of buying a home in the off-season is the greater availability real estate and mortgage professionals. Agents will generally have fewer clients and more time to focus on your home search. Lenders will be more accessible for questions and assistance. Some lenders may even waive some fees during the off-season to encourage borrowers to use their services. [Read more…]
You’ve mastered spotting and avoiding predatory lending, but now that you’re buying a home, you need to be on the lookout for real estate scams. Many of these scams sound legitimate and are often designed to take advantage of new homeowners or those who haven’t done their homework. Remember, if a deal seems too good to be true, it probably is. But with a little preparation and research, you can avoid scams when buying a home. [Read more…]
When you start searching for your dream home, it can be fun to fantasize about buying one of the largest and most extravagant properties in your area. However, your income is likely to dictate the size and lavishness of the home you choose. When you apply for a home loan, the mortgage lender will analyze your assets, liabilities and income to determine if you have the ability to pay off the loan. More specifically, they will look at your discretionary income. [Read more…]