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Category: Move-Up

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The Case for Putting 20% Down on Your Next Home

Written by The Villages FL Mortgage Syndicated User on . Posted in Affordability, Buying Tips, Downsize, For Buyers, Move-Up, The Villages FL, The Villages FL Mortgage.

If you’re planning to buy your next home soon, you’ve probably heard the old rule about saving 20% for your down payment.The truth is, you usually don’t have to. Plenty of loan options let qualified buyers put down much less. But a lot of repeat buyers are choosing to put down 20% anyway.So, why are they if they don’t have to?Two reasons. They know a bigger down payment pays off, and after years in their current house, they’ve built up enough equity that it’s finally possible.Repeat Buyers Put More Money DownAccording to the National Association of Realtors (NAR), the typical repeat buyer...

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Why So Many People Are Thankful They Bought a Home This Year

Written by The Villages FL Mortgage Syndicated User on . Posted in Downsize, First-Time Buyers, For Buyers, Move-Up, The Villages FL, The Villages FL Mortgage.

Homebuyers are weighing their options right now, and they certainly have a lot on their minds. With everything going on in the job market, the economy, and more – there’s a lot to think about these days. And maybe that’s making you wonder if it really makes sense to buy a home right now.But here’s what many recent buyers would tell you: even with all that, making a move is worth it. And this is why they’re thankful they went ahead and took the plunge already. Life doesn’t wait for better market conditions. So, your decision shouldn’t be about trying to time the market...

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Why You Don’t Need To Be Afraid of Today’s Mortgage Rates

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

Mortgage rates have been the monster under the bed for a while. Every time they tick up, people flinch and say, “Maybe I’ll wait.” But here’s the twist. Waiting for that perfect 5-point-something rate could end up haunting your wallet later.The Magic NumberAccording to the National Association of Realtors (NAR):“. . . a 30-year fixed rate mortgage of 6% would make the median-priced home affordable for about 5.5 million more households—including 1.6 million renters. If rates were to hit that magic number, it’s likely that about 10%—or 550,000—of those additional households would buy a home...

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Equity Can Make Your Move Possible When Affordability Is Tight [INFOGRAPHIC]

Written by The Villages FL Mortgage Syndicated User on . Posted in Affordability, Equity, Infographics, Move-Up, The Villages FL, The Villages FL Mortgage.

Some HighlightsDid you know the equity you have in your current house can help make your move possible?Once you sell, you can use it for a larger down payment on your next home, so you’re borrowing less. Or, you may even have enough to be an all-cash buyer. The typical homeowner has $298,000 in equity. If you want to find out how much you have, connect with a local real estate agent for a Professional Equity Assessment Report.

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