Evaluating Your Wants and Needs as a Homebuyer Matters More Today

Written by Jupiter Florida Mortgage Syndicated User on July 4, 2023. Posted in First Time Home Buyers, For Buyers, Jupiter Florida Mortgage Rates, Jupiter Mortgage, Move-Up Buyers.

When it comes to buying a home, especially with today’s affordability challenges, you’ll want to be strategic. Mortgage rates impact how much it costs to borrow money for your home loan. And, to help offset the higher borrowing costs today, some homebuyers are taking a close look at their wish list and re-evaluating what features they really need in their next home to avoid overextending. As a recent NerdWallet article says:“A pool, for example, may be nice to have, but it may not provide as much day-to-day value as a garage or a space for a home office . . .”While that pool may be appealing,...

Why Homeownership Wins in the Long Run

Written by Jupiter Florida Mortgage Syndicated User on June 28, 2023. Posted in First Time Home Buyers, For Buyers, Jupiter Florida Mortgage Rates, Jupiter Mortgage, Pricing, Rent vs. Buy.

Today’s higher mortgage rates, inflationary pressures, and concerns about a potential recession have some people questioning: should I still buy a home this year? While it’s true this year has unique challenges for homebuyers, it’s important to think about the long-term benefits of homeownership when making your decision.Consider this: if you know people who bought a home 5, 10, or even 30 years ago, you’re probably going to have a hard time finding someone who regrets their decision. Why is that? The reason is tied to how home values grow with time and how, by extension, that grows your own...

Homeownership Helps Protect You from Inflation [INFOGRAPHIC]

Written by Jupiter Florida Mortgage Syndicated User on June 24, 2023. Posted in First Time Home Buyers, For Buyers, Infographics, Jupiter Florida Mortgage Rates, Jupiter Mortgage, Rent vs. Buy.

Some HighlightsWondering if it makes sense to buy a home today even when inflation is high? When other costs go up due to inflation, buying a home helps you keep your monthly housing expense steady.Rents typically increase with inflation. Maybe that’s why, according to a recent survey, 65.1% of landlords say they plan to raise the rent of at least one of their properties within the next 12 months.Especially when inflation is up, having a stable housing payment can be helpful. Connect with a local real estate agent so you can learn more and start your journey to owning a home today.

What Homebuyers Need To Know About Credit Scores

Written by Jupiter Florida Mortgage Syndicated User on June 23, 2023. Posted in First Time Home Buyers, For Buyers, Jupiter Florida Mortgage Rates, Jupiter Mortgage, Move-Up Buyers.

If you’re thinking about buying a home, you should know your credit score’s a critical piece of the puzzle when it comes to qualifying for a home loan. Lenders review your credit to assess your ability to make payments on time, to pay back debts, and more. It’s also a factor that helps determine your mortgage rate. An article from Bankrate explains: “Your credit score is one of the most important factors lenders consider when you apply for a mortgage. Not just to qualify for the loan itself, but for the conditions: Typically, the higher your score, the lower the interest rates and better terms...

Saving for a Down Payment? Here’s What You Need To Know.

Written by Jupiter Florida Mortgage Syndicated User on June 20, 2023. Posted in Down Payments, First Time Home Buyers, For Buyers, Jupiter Florida Mortgage Rates, Jupiter Mortgage, Move-Up Buyers.

If you’re planning to buy your first home, then you’re probably focused on saving for all the costs involved in such a big purchase. One of the expenses that may be at the top of your mind is your down payment. If you’re intimidated by how much you need to save for that, it may be because you believe you must put 20% down. That doesn’t necessarily have to be the case. As the National Association of Realtors (NAR) notes:“One of the biggest misconceptions among housing consumers is what the typical down payment is and what amount is needed to enter homeownership.”And a recent Freddie...

How Owning a Home Grows Your Wealth with Time [INFOGRAPHIC]

Written by Jupiter Florida Mortgage Syndicated User on June 17, 2023. Posted in First Time Home Buyers, For Buyers, Infographics, Jupiter Florida Mortgage Rates, Jupiter Mortgage, Move-Up Buyers, Pricing.

Some HighlightsIf you’re thinking of buying a home this year, be sure to factor in the long-term benefits of homeownership.Over time, homeownership allows you to build equity. On average, nationwide home prices appreciated by 290.2% over the last 32 years.That means your net worth can grow significantly in the long term when you own a home. Reach out to a real estate professional so you can start your homebuying journey today.

Are Home Prices Going Up or Down? That Depends…

Written by Jupiter Florida Mortgage Syndicated User on June 13, 2023. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Jupiter Florida Mortgage Rates, Jupiter Mortgage, Move-Up Buyers, Pricing.

Media coverage about what’s happening with home prices can be confusing. A large part of that is due to the type of data being used and what they’re choosing to draw attention to. For home prices, there are two different methods used to compare home prices over different time periods: year-over-year (Y-O-Y) and month-over-month (M-O-M). Here’s an explanation of each. Year-over-Year (Y-O-Y):This comparison measures the change in home prices from the same month or quarter in the previous year. For example, if you’re comparing Y-O-Y home prices for April 2023, you would compare them...

Real Estate Is Still Considered the Best Long-Term Investment

Written by Jupiter Florida Mortgage Syndicated User on June 7, 2023. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Jupiter Florida Mortgage Rates, Jupiter Mortgage, Move-Up Buyers.

With all the headlines circulating about home prices and rising mortgage rates, you may wonder if it still makes sense to invest in homeownership right now. A recent poll from Gallup shows the answer is yes. In fact, real estate was voted the best long-term investment for the 11th consecutive year, consistently beating other investment types like gold, stocks, and bonds (see graph below):If you’re thinking about purchasing a home, let this poll reassure you. Even with everything happening today, Americans recognize owning a home is a powerful financial decision.Why Do Americans Still Feel So...

Reasons To Own Your Home [INFOGRAPHIC]

Written by Jupiter Florida Mortgage Syndicated User on June 3, 2023. Posted in First Time Home Buyers, For Buyers, Infographics, Jupiter Florida Mortgage Rates, Jupiter Mortgage.

Some HighlightsJune is National Homeownership Month, and it’s a perfect time to think about all the benefits that come with owning your home.Owning a home not only makes you feel proud and accomplished, but it’s also a big step toward having a secure and stable financial future.Are you ready to enjoy all the amazing advantages that come with owning a home? Get in touch with a local real estate agent to start the process today.

The True Value of Homeownership

Written by Jupiter Florida Mortgage Syndicated User on June 2, 2023. Posted in First Time Home Buyers, For Buyers, Jupiter Florida Mortgage Rates, Jupiter Mortgage.

Buying and owning your home can make a big difference in your life by bringing you joy and a sense of belonging. And with June being National Homeownership Month, it’s the perfect time to think about all the benefits homeownership provides. Of course, there are financial reasons to buy a house, but it’s important to consider the non-financial benefits that make a home more than just where you live.Here are three ways owning your home can give you a sense of accomplishment, happiness, and pride. You May Feel Happier and More Fulfilled Owning a home is associated with better mental health and...

Category: First Time Home Buyers