Buying a Home in Today's Market Today’s housing market is very competitive. As a potential home buyer, you can increase the odds of being the winning bidder on the home of your dreams with these important tips. Get pre-approved, not pre-qualified. Pre-approval confirms you are able to secure a loan for a set amount based on your verified credit, income and assets. Your lender will provide you with a pre-approval letter that you may include in any offer you make. Know... [read more]

  Making the Most of an Open House Open houses provide an excellent opportunity to view homes in a relaxed atmosphere. You get a feel for the market, can ask the REALTOR questions, and can also ask yourself, “Is this the right home for me”? Help yourself remember specific details by bringing a notebook, a measuring tape and a camera. Pay attention to the neighborhood around the home. Note the location of local amenities like parks, schools, restaurants and... [read more]

What is a Reverse Mortgage? A reverse mortgage is a type of loan available to homeowners age 62 years or older. It’s called a “reverse” mortgage because the lender makes payments to the borrower. With a reverse mortgage, seniors can convert the equity in their home into cash. The product was created to help people with limited income use the accumulated wealth in their homes to cover basic monthly living expenses and pay for health care. That said, there are no... [read more]

Getting a Mortgage When Self-Employed If you are self-employed, it can be a little harder for you to get a mortgage than someone who is an employee of a company that receives a regular paycheck and a Notice of Assessment at the end of the year. If you are self-employed, most lenders will require that you’ve been self-employed for at least two years. Most lenders will also require that you provide the following information: Your personal tax returns for the past two... [read more]

Mistakes Buyers Make in a Seller’s Market The home buying process moves quickly in a Seller’s Market. With sellers asking top dollar, getting multiple offers on their homes and available inventory shrinking, it’s easy for a home buyer to become frustrated. Here are some common mistakes buyers make in a Seller’s Market: Not being pre-approved for a mortgage. Mortgage pre-approval is crucial in a seller’s market. It shows sellers that you are serious... [read more]