When you’re ready to buy a home, you may come across many different options of who to work with to finance your house. Among all of the other factors you may be focused on such as closing the deal and packing up to move, you likely don’t want to have to stress about your mortgage. Therefore, a local lender is a wise and beneficial choice; here are the main benefits of working with a local mortgage lender! What are the top advantages of using mortgage lender near you? Lenders in your local area can
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Buying a home is a huge moment in your life, and for your bank account. In all the excitement, it is helpful to have some clarity and guidance to assure you are heading in the right direction. The Gray Team of Direct Mortgage Loans is always available to answer your questions and guide you through the process. Contact us to begin working with a member of our team. In addition, here are 6 things everyone must know BEFORE they buy their first home. Loan Type When buying a home, you will most likely take out a mortgage
It’s no secret that mortgage interest rates have risen significantly in the last couple of weeks, but that doesn’t mean you need to abandon your plans to refinance or purchase a home. Interest rates can change at any time and are driven by market forces such as economic news and inflation. Moreover, although rates are on the rise it’s important to compare interest rates from a long-term point of view. The chart below, from Freddie Mac, compares mortgage interest rates throughout history. Based on this data, mortgage rates are still considerably low compared to decades
Finding the right home for your family is one of the elements to consider while house hunting. Here are six tips to help you find a family-friendly neighborhood. Read Reviews: See what neighbors and the community have to say about the area. One way to do this is by looking for signs of a family-friendly neighborhood such as playgrounds, well-lit streets, and a quiet environment. Research School District: Conduct research on local school districts and educational programs in the area. Find out more about school statistics by using websites like GreatSchools.org which provide specific information about schools in
The Federal Housing Finance Agency (FHFA) recently made a statement that upfront fees for specific high-balance and second-home loans were going to increase beginning April 1, 2022. If you are considering buying a home, then doing so prior to the change may be smart. Here is everything you need to know about the increase in upfront FHFA fees. Announcement Breakdown The FHFA new pricing framework will take place on April 1, 2022; increasing the upfront fees for any high-balance and second home loans sold to Fannie Mae and Freddie Mac. The fee increase will
A reliable lender is like a four-leaf clover, hard to find and lucky to have! But buying a home requires more than just luck, you need a knowledgeable Loan Officer to help guide you through the homebuying process. Learn how you could luck out by purchasing a home this season! Low-Interest Rates While rates are constantly changing in the housing market, interest rates remain historically low!* Your mortgage payment consists of four components: principal, interest, taxes, and insurance. It’s important to take advantage of today’s rates to secure a lower interest rate before they
Whether you are looking to increase the value of your home or make your space more functional, consider all elements that go into remodeling your home. Learn more by reviewing our top home remodeling tips below! 1. Plan What are your overall home goals? Envision the end goal for your home and create a detailed plan BEFORE starting the remodeling process. According to Family Handyman, consider the condition of your neighborhood and research which renovations will yield a higher return on investment. Planning is key for a successful house remodel, so be sure to take the necessary preparation
The moving process can seem like an overwhelming and stressful task to many. Check out these moving tips & tricks to prepare for the big day and take the stress out of moving! 1. Create a Moving Checklist Before packing, consider making a moving checklist to keep track of what rooms and items you plan on packing first. Since the moving process can take time, creating a checklist is a great way to remember what items have been packed already so you’re not digging through boxes! 2. Declutter Go through all your items and
The 2022 tax season is officially here, as of January 24th! Now, the Internal Revenue Service will begin accepting and processing federal tax returns for the year 2021. Whether you plan on filing taxes on your own or with an accountant, it is important to ensure you are readily prepared this season. Here are 5 MUSTS to be prepared for tax season! 1. Important Documents As we know, filing taxes requires documentation. It is a smart idea to start gathering tax documents now. Since many documents, such as W-2s and 1099s, may be digitally delivered, consider creating a digital folder to store important documentation. Some important documents to
Creating a monthly home budget is crucial to achieving your financial goals. A monthly home budget compares and tracks your income and expenses. This allows you to plan how much you could spend or save each month. Check out some of our budgeting tips below to help you start saving for your dream home today! Set a Financial Goal Start off by setting a realistic short-term or long-term goal. Create a budget that will allow you to save for your home’s down payment, while giving wiggle room for unexpected expenses. Note: There are a variety of mortgage