Many homebuyers have substantial value on their 401k. They can use up to 60% of the value of their 401k for their down payment and/or closing costs on their home purchase. The amount used from their 401k is not used for their debt to income ratio calculations.
The housing market has skyrocketed where many homebuyers are priced out of buying a home. Many homebuyers are leaving their state to other states with affordable housing to realize their dream of homeownership become a reality.
This article covers the new construction mortgage guidelines for home buyers: Many homebuyers can no longer afford to purchase a new home due to skyrocketing home prices. However, those who are buying new construction homes still have a chance of becoming homeowners. This only holds true if lumber and other building material prices have not […]
To compete with motivated cash buyers, you may have to offer a little more. Just make sure you can afford the mortgage. And don’t get caught up in the bidding and overpay.
In this article, I provide a step-by-step guide for first-time buyers and answer common questions concerning a home purchase in the Chicago area.
Mortgage lenders will work with homeowners if they lose their jobs. Lenders have a workout department where they can work on repayment and/or forbearance plan for unemployed homeowners
More and more homebuyers are gravitating towards a townhome purchase versus a single-family home during today’s booming housing market
This article covers Should You Sell Before You Buy Your New Home Purchase Advice on whether you should sell before you buy your new home: Very few home buyers can afford to qualify for two mortgages at the same time If you currently own a home and want to know whether you should sell your […]
Home inspections are not required. Home Appraisals are required by lenders. However, a home inspection is highly recommended and worth the investment for homebuyers.
First-time homebuyers need to hire an experienced realtor who is not just accessible 24/7 but who knows the area where the subject property is located.