If you’ve been thinking about buying a home with an FHA loan, there’s some exciting news that could make the process smoother, especially if you’re relying on family for financial help. The Federal Housing Administration (FHA) just announced a significant change to its guidelines that could make it much easier for homebuyers… What Changed? Since…
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Navigating the world of real estate financing can often feel like trying to hit a moving target, especially with the constant fluctuations in mortgage rates. Following is how to break down the often complex relationship between mortgage rates and home buying power, helping you understand how these changes can impact your pursuit of the American…
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Have you ever considered buying a house from a family member? It’s a unique opportunity that comes with its own set of benefits and challenges. Whether you’re purchasing your childhood home from your parents or acquiring a property from a grandparent, understanding the ins and outs of this process is essential for a successful transaction.…
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When it comes to purchasing a home, your monthly income is the most influential factor, surpassing even your credit score and available cash. Understanding how your income impacts your purchasing power is essential for aspiring homeowners. Let’s explore this concept with practical examples and actionable insights. Consider this scenario: You earn $100,000 annually, and based…
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Buying a house today can be an arduous task, especially when you consider the many challenges that families face. One of the most significant challenges is qualifying for a price that is affordable for the family. Heightened interest rates and high housing prices only add to the difficulty. However, there are a few factors that…
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The recent settlement involving the National Association of Realtors regarding real estate agent compensation has the potential to impact both buyers and sellers in the industry. As we move into uncharted territory in the summer of 2024, it’s important to evaluate the possible effects of this change. Historically, the industry has accepted a real estate…
Read MoreBuying a new home while still owning your current home can be a challenging process, especially in today’s market. When you want to purchase a new home without selling your current home first, you may be required to make a contingent offer. A contingent offer means that the purchase of your new home is dependent…
Read MoreAre you considering purchasing a new home, but already own a property and are worried about not having enough income to support two house payments? You’re not alone. This is a common concern for many homeowners who are looking to upgrade their living spaces. However, there are options available to you that can help you…
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