APM BLOG

July 4—also known as Independence Day in the U.S.—celebrates the adoption of the Declaration of Independence.  

You may have known that much, but there is so much more behind this beloved summer holiday, so let’s dive right in!

Do you want to achieve the dream of homeownership but dread the looming down payment you’ll need? Figuring out how to come up with a down payment for a house can seem like a huge hurdle, especially for those with little to no savings.

Believe it or not, there are many, many people who want to see you in the home of your dreams. We know that dream doesn’t always seem attainable. Money can be tight, and a down payment is just one more thing you have to save for.

Interest rates are still attractive, and inventory is creeping up, which means now is a great time to jump into the housing market! Here’s the thing, though. While “Zillowing” has become one of America’s favorite pastimes, actually buying a home isn’t as simple as jumping into the market. Unless you’re a cash buyer. In which case, bravo to you! 

Low interest rates, even lower housing inventory, and tons of competition. That’s today’s housing market in many areas around the country, and that can be frustrating for buyers.

Having been in business for over 25 years and witnessed many real estate cycles, we know how you feel. That’s why APM has focused all its energy on making sure you are in the best possible position to have your offer accepted.

That’s why we developed our Keys on Time™ program. Here’s how it works: You get your loan approved before you shop for a home. That’s right. We will give you full approval of your financing before you ever find a home . . . this is not your average pre-approval!  Once approved, you go shop for your home, secure in the knowledge that your financing is in place. 

It’s a competitive market out there, but did you know there are things you can do to increase the chances your offer will be accepted? We’re not talking about the standard strategies like improving your credit, paying off debt, applying for pre-approval.

We’re talking about programs like APM’s Keys on Time™ (KOT).

The flowers are popping, the rabbits are hopping, and that dark winter sky is in the rearview mirror. That can only mean one thing: spring is finally here!

Your kids may feel more cooped up than usual this year thanks to the pandemic, homeschooling, and a series of winter storms throughout much of the U.S. So dust off your outdoor clothes and head into the sunshine—we’re about to make up for that lost time.

Qualifying for a mortgage when you’re self-employed doesn’t have to be a pain. It all comes down to organization. Whether you’re self-employed, commission-based, or a full-time or hourly employee, lenders are all looking for the same thing when you apply for a mortgage: they want to be sure there is a high likelihood you will be able to pay.

Being self-employed can be amazing! To many it sounds wonderful—you get to be your own boss, set your own hours, and work from anywhere! As many who are self-employed know, it’s not as simple as that (long days, making payroll, and no steady paycheck). There are many perks to entrepreneurship, including that invigorating feeling of creating a business, but some people worry that this path will make it difficult to qualify for big-ticket purchases like a home.  

You may be aware that the mortgage application process differs slightly depending on your type of employment. It’s not that mortgage companies favor a W-2 employee over the self-employed or a full-time employee over someone whose job is commission-based. It simply boils down to differences in verifying employment, income, and job stability.

We’ve all been spending a lot of time at home, but what happens when the home you love no longer meets all your needs? You may feel trapped in the home you have, but that’s not really the case. You do have a few options to consider.

An accessory dwelling unit, or “ADU,” is a fancy phrase for a smaller stand-alone space on your property. They’re oftentimes referred to as guest houses, granny flats, or even pool houses. These modest spaces are functional, livable, and super convenient if you need more room but don’t feel like packing up and moving into a new home entirely.

The reasons to build an accessory dwelling unit are almost as diverse as the units themselves. Maybe your home feels cramped now that you’re trying to work from home while your kids are homeschooling. Maybe you have parents or in-laws who are at that stage where they need a little help but aren’t ready (or you’re not ready) for an assisted facility. The same can be true of college students or adult children who need to save money or perhaps have encountered some career or financial obstacles.

Everyone under one roof. The notion is becoming more and more common nowadays, especially during the pandemic. You have college students who no longer need to live on campus due to remote learning, adult children who are trying to save money, and aging parents who may need assistance but are not comfortable in a nursing home environment right now.

There are many benefits of living in a multigenerational home, not the least of which is the quality time you have with family members that you would otherwise miss out on. This has become particularly relevant during the pandemic, as social distancing and restrictions often prevent loved ones from not only gathering on a regular basis but also on family-focused holidays. This scenario is even more heartbreaking for elderly relatives, especially those in nursing homes whose compromised immune systems mean visitors are often not allowed.

2020 was quite a year in every way, and one where community organizations and charities around the country needed our help more than ever. In addition to very high levels of need due to the economic effects of the pandemic, organizations also had to adapt to how they operate to keep everyone safe.

All of this created a perfect storm, with organizations desperately needing more support than ever. As a company, we’re proud of our team members’ continued efforts and focus on the communities they serve during these challenging times. With their help through donations and nominations, APMCares, our nonprofit, was able to give back in a big way in 2020.

There are times to DIY (do it yourself), and there are times to call in an expert. Buying a home is not the time to try your hand at real estate negotiations. Can you buy a home without an agent? Of course you can—just as you can sell a home without an agent—but those decisions tend to cost you in time, energy and, most of all, money!

Deciding it’s time to buy a home can be exhilarating—but it’s also a little daunting. Taking time to research your options before you begin your home search is often the best place to start. One big factor to consider is whether you need a pre-approval vs. a pre-qualification.

Owning your home provides safety, security, and stability when it comes to your living situation, especially if you have a fixed-rate mortgage. Knowing that your mortgage payment will never increase and a landlord will never ask you to move can do wonders for your psyche—and your sleep!

You know the one thing that can provide even more safety, security, and stability? Paying off your home loan early. The best part is you don’t have to write a massive six-figure check to do this. Making as little as one extra mortgage payment a year can yield big-time results, and savings, as you work towards paying down your principal.

Making extra mortgage payments can be done in a few ways.

Getting into debt can be fun for a moment (hello, last-minute trip to Cabo!), but that debt hangover will last long after those margaritas have made their way out of your system. Once your splurge is over, you’re left with a long-term debt obligation that may grow ever larger, thanks to compounding interest.

Let’s face it, debt is the pied piper that demands you sacrifice current and future wants and needs for past spending. It can also prevent you from achieving your goals if this debt hurts your credit score or results in a high debt-to-income ratio, making it harder to borrow more money.

So, nip that obligation in the bud and get that piper off your back by managing debt effectively.