If you or a loved one have served your country and are now looking to buy a home, you may wonder if you qualify for a VA loan.
VA mortgage loans offer tons of benefits, like no down payment requirements, no private mortgage insurance (PMI) monthly payment, and flexible underwriting guidelines.
Getting a jumbo VA loan, which is a type of VA-backed home loan, offers several great advantages for eligible veterans and their surviving spouses. While there isn’t technically a jumbo VA loan (all VA loans are treated similarly, regardless of loan amount), it’s common to think of the larger loans to be “jumbo” for the sake of discussion.
Buying a home is full of questions. Should we? Shouldn’t we? Can I afford to? Can I afford not to? All these questions are deeply personal, which means their answers will depend on your financial situation and long-term goals.
One of the obstacles that keeps first-time homebuyers out of the housing market is the misconception that they need to have a 20% down payment.
If you're planning to buy a home in a certain neighborhood—perhaps your own?—you can limit your search to online listings. Or you can rethink your strategy and become an amateur detective, locating homes that aren't yet for sale, but may go on the market in a month or two. Here are clues that tell you that a property may be for sale soon. If you're lucky, you may be first in line to discuss a purchase.
When it comes to investments, many people say it’s all about timing. While that’s good advice in theory, there’s simply no way to time the market if you’re purchasing a sizable investment like buying a house. In a perfect world, interest rates and prices would both be low—and this does happen, but not very frequently.
Even if you bought your home recently, property prices may have boosted your amount of home equity. This is because equity is comprised of two numbers: the amount of your mortgage you've repaid, plus any rise in appraised value. If you have over 20% equity in your home, you may be able to tap into your investment with a home equity line of credit (HELOC).
It’s easy to get caught up in the fun of house hunting, but you also need to keep your eyes open for warning signs that the home you’re considering might not be a safe, sound, dependable dwelling.
Thankfully, you can easily spot major red flags. You just have to know what to look for, have the right people on your side (hello, structural engineer, home inspector, real estate agents, and your trusted licensed pest inspector!), and go into your purchase with your eyes wide open.
The American dream is not one size fits all. Some borrowers want to purchase a second home where their family can vacation for part of the year. Buying property as a second home could mean a cabin in the mountains, a beachside bungalow, or anything in between.
Whether you're a first-time or move-up home buyer, you may be considering postponing a purchase if your area's affected by climbing home prices. Or you may be balking at today's mortgage interest rates (more about those later in this newsletter).
You own your primary residence, but you’re thinking about buying a second home. Congrats! Being in a financial position to make that kind of real estate investment is a major accomplishment, and you should be proud of that.
The 4th of July is coming up, celebrating the ratification of the Declaration of Independence in 1776. Are you looking for fun, unique activities for your Independence Day celebration this year?
You know all about fireworks shows and barbecues, so we won’t waste your time with those—but more power to you if you plan to partake! If you’re looking for even more ways to celebrate freedom while embracing the historic nature of this federal holiday, we’ve got you covered.
It’s beginning to look a lot like…vacation time! The skies are blue, the flowers are in full bloom, and summer is before us.
Not everyone comes from money, but there are decisions you can make today to set up future generations for long-term success. And by long-term success, we mean a true financial legacy. One of the easiest ways for the average person to do this is through real estate.
Spring has sprung, and so have home prices in many areas. A drop in the number of homes for sale has fueled a new round of bidding wars in some regions, and more homes are selling for above their asking prices, even with higher mortgage rates. Homes are selling faster, too, with almost 50% of homes selling within two weeks.
We know buying a home can be intimidating. There are so many variables that can go into this big decision. Then there’s what you think you know—and what others think they know. A lot of this information can come from secondhand sources or even “expert” opinions you see on TV or on the internet. These opinions aren’t always wrong, but what they don’t take into account is your specific situation—or the fact that you have APM on your side.
Since hitting a peak in June 2022, home prices have fallen by 3% to 5% on average. While this is the second-biggest home price correction since the 1950s, it's still mild when compared to the 26% drop in prices between 2007 and 2012.
If you’re in need of cash but already have a killer rate on your first mortgage, and you don’t want to pay the high interest rates associated with a credit card, then a home equity line of credit—HELOC for short—may be the perfect solution. HELOCs work by utilizing the equity in your home. You’ve worked hard and consistently made your monthly payment, so why not let all the equity you’ve built up in your home now work for you?
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