Nearly 20 percent of U.S. homebuyers paid more than list price in 2020 — and in the final months of last year, the share of homebuyers getting outbid nearly doubled. Most sellers in these transactions garnered 1 to 10 percent higher than their list price (in some cases it was higher). Is it worth outbidding […]
Should You Buy a Foreclosed Home?
Many home buyers look at foreclosed homes as potentially great deals. However, the reality is that buying a foreclosed house can come with downsides that outweigh the initial advantages. The following are some of the factors to consider. What is a foreclosed home? A home becomes foreclosed when the owner has fallen behind on payments […]
Planning for a Home Down Payment
Buying a home is a milestone worth celebrating, but it takes planning and preparation before signing the closing documents to ensure the purchase doesn’t become more of a burden than a blessing. Proper planning involves determining how big of a down payment you need and saving money for that down payment. Here are some pointers […]
What Higher Conforming Mortgage Loan Limits Means to Buyers
As of January 1, 2020, you can now purchase a home property that costs even more money than you originally planned to spend — about five percent higher — with the help of a very popular mortgage product. It could be advantageous for shoppers who need that extra bump to attain the home they really […]
Why Routine Home Buyer Seminars Should Be Part of Your Mortgage Strategy
There’s a lot of misinformation, perpetual myths and urban legends in the mind of your average consumer about getting pre-qualified for a mortgage, shopping for a home and buying the property. Your credit union has an opportunity to straighten things out. How? Through hosting a series of home buyer seminars — whether monthly, quarterly or bi-annually. […]