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Category: First-Time Buyers

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What Credit Score Do You Really Need To Buy a Home?

Written by The Villages FL Mortgage Syndicated User on . Posted in Buying Tips, First-Time Buyers, For Buyers, The Villages FL, The Villages FL Mortgage.

According to Fannie Mae, 90% of buyers don’t actually know what credit score lenders are looking for, or they overestimate the minimum needed.Let that sink in. That means most homebuyers think they need better credit than they actually do – and maybe you’re one of them. And that could make you think buying a home is out of reach for you right now, even if that’s not necessarily true. So, let’s look at what the data really says about credit scores and homebuying.There’s No One Magic NumberThere’s no universal credit score you absolutely have to have when buying a home. And that means there’s...

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Multi-Generational Homebuying Hit a Record High – Here’s Why

Written by The Villages FL Mortgage Syndicated User on . Posted in Affordability, Buying Tips, First-Time Buyers, For Buyers, The Villages FL, The Villages FL Mortgage.

Multi-generational living is on the rise. According to the National Association of Realtors (NAR), 17% of homebuyers purchase a home to share with parents, adult children, or extended family. That’s the highest share ever recorded by NAR (see graph below):And what’s behind the increase? Affordability. NAR explains:“In 2024, a notable 36% of homebuyers cited “cost savings” as the primary reason for purchasing a multigenerational home—a significant increase from just 15% in 2015.”In the past, caregiving was the leading motivator – especially for those looking to support aging parents. And...

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Is It Better To Rent or Buy a Home?

Written by The Villages FL Mortgage Syndicated User on . Posted in First-Time Buyers, For Buyers, Rent vs. Buy, The Villages FL, The Villages FL Mortgage.

You’ve probably asked yourself lately: Is it even worth trying to buy a home right now?With high home prices and stubborn mortgage rates, renting can seem like the safer choice right now. Or maybe your only choice. That’s a very real feeling. And perhaps buying today isn’t your best move; it’s not for everyone right away. You should only buy a home when you’re ready and able to do it, and if the timing is right for you.But here’s the thing you need to know about renting.While it may feel like a safer bet today – and in some areas might even be less expensive month-to-month than owning – it...

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Two Resources That Can Help You Buy a Home Right Now

Written by The Villages FL Mortgage Syndicated User on . Posted in Affordability, Buying Tips, First-Time Buyers, For Buyers, The Villages FL, The Villages FL Mortgage.

A recent report from Realtor.com says 20% of Americans don’t think homeownership is achievable. Maybe you feel the same way. With inflation driving up day-to-day expenses, saving enough to buy your first home is more of a challenge. But here’s the thing. With the right resources and help, you can still make it happen.There are options that can help make buying a home possible today — even if your savings are limited or your credit isn’t perfect. Let’s explore just two of the solutions that could help get you into your first home no matter the market.1. FHA LoansIf your down payment savings...

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Simple Steps To Help You Save for Your First Home

Written by The Villages FL Mortgage Syndicated User on . Posted in Buying Tips, First-Time Buyers, For Buyers, The Villages FL, The Villages FL Mortgage.

Turning a dream into reality starts with one thing: a plan. And if buying your first home is on your list of goals, now’s the perfect time to put a plan in motion to help you save.And the best part? Reaching your savings goal doesn’t mean making huge sacrifices overnight – small, consistent steps can get you there over time. Here are a few strategies that can help speed up the process.Step 1: Build a Budget That Works for YouKnowing where your money’s going is the first step to saving more of it. Take some time to track the money you’ve got coming in and going out. This helps you spot areas...

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