Interest rates are projected to increase steadily heading into 2019. The higher your interest rate, the more money you end up paying for your home and the higher your monthly payment will be. Here’s an infographic that shows how much your monthly payment can go up for a $250,000 purchase. Keep in mind, today’s average home price in the Portland metropolitan area is $385,000. Wondering … Continue reading The Cost of Waiting [INFOGRAPHIC]
Recently, Freddie Mac published an Insight Report titled Nowhere to go but up? How increasing mortgage rates could affect housing. The report focused on the impact the projected rise in mortgage rates might have on the housing market this year. Many believe that an increase in mortgage rates will cause a slowdown in purchases which would, in turn, lead to a fall in house values. Ultimately, however, prices are determined … Continue reading Freddie Mac: Rising Mortgage Rates DO NOT Lead to Falling Home Prices
Don’t wait until you’re ready to move to start preparing financially to buy a home. If you’re like the vast majority of home buyers, you will finance your purchase with a mortgage loan. By preparing in advance, you can avoid the common delays and roadblocks many buyers face when applying for a mortgage. The requirements to secure a mortgage may seem overwhelming, especially if you’re … Continue reading The Home Buyer’s Guide to Getting Mortgage Ready
Get Your Credit Score in Shape Before Buying a Home How strong is your credit? Cleaning up your credit is essential before you make any major financial moves. Having a bad score can hurt your chances of being able to open a credit card, apply for a loan, purchase a car, or rent an apartment. It is especially important to have clean credit before you … Continue reading Get Your Credit Score In Shape….
No matter if you’re in a buyer’s or seller’s market, there are a few critical steps you can take to make a smarter purchase. Since buying a home is likely the biggest single investment you will ever make, being prepared will help you make a better purchase. Here are our best tips to buying a home. Know your buying power What is your buying power? … Continue reading How to Buy a Home: 5 Tips and Tricks from Real Estate Insiders
[If you missed Part 1, click here to read it first] 3. MANAGE YOUR EXPECTATIONS Many frustrations in life happen when something goes differently than what we expected. The same holds in Real Estate. When you begin your home search, think about your lifestyle- what you have and need now, and what you’ll want and need in your next home. And when will that be? … Continue reading How to Buy a Home…. Part 2
The real estate market is always changing- and what you may have experienced the last time you searched for (and bought) a home…. might not be the way it works today. Being a first time homebuyer can be especially scary…asking your parents how they bought their last home… might not be how today’s market works. Or consulting with an out-of-state friend who works in Real … Continue reading How to Buy a Home… part 1