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Tired of renting? 6 signs you’re ready to buy your first home

Housing Wire

A homebuyer’s guide to a competitive housing market. 3 underrated mortgage products to consider. And unfortunately, prices are only going to continue to rise as the housing market remains strong. A monthly mortgage, on the other hand, doesn’t usually increase for homeowners with fixed-rate mortgages.

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6 Homebuying and Mortgage Tips for Retirees

Realtor.com

And older boomers (aged 66 to 74) scooped up an additional 14% of the market during the same period, according to a recent report from the National Association of Realtors®. You need to make sure the person you’re working with is aware of local transfer taxes and closing costs.” Watch your debt-to-income ratio.

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Is Now a Good Time to Buy a Home?

Realty Biz

With changes in the housing market, you might question whether it is a good time to buy a house. What happens in the housing market is important, but your financial situation and whether you are ready to buy a home should be more influential in your decision. Don't assume the national headlines apply to your local market.

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8 Common Misconceptions That First-Time Home Buyers Have

Realty Biz

A fixed-rate mortgage is stable for 15 to 30 years, but rents may increase on average as much as 5% per year. . Money spent on a mortgage each month is building equity in something you’ll eventually own, and is a foundational means to growing wealth. Student Loan Debt Must Be Paid off.

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Mastering Mortgage Basics: 10 Key Concepts Every Homebuyer Should Know

Redfin

The interest rate and term length determine the amount of your monthly payments. What are the different types of mortgages? When considering mortgage options, it’s important to understand the different types available. How is a mortgage rate determined? What are closing costs?

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What is PMI and Do You Need to Pay it?

Redfin

When you apply for a mortgage , your lender may ask if you’re going to put up 20% of the home’s sale price as a down payment. Depending on your local housing market , this can be a significant amount that not every homebuyer can afford. What is PMI? . Your loan type can also affect PMI requirements.

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15 Mortgage Questions to Ask Lenders Before Buying a House

HomeLight

To help you understand exactly what you’re getting into, we’ve created a comprehensive guide that answers the most common mortgage questions buyers have for lenders about the mortgage process. Debt-to-income ratio After looking at how much money is flowing into your household, you’ll want to write down your monthly debts.