It is important to figure out if myths are correct and if they are serving you well before you hold on to them. First-time home buyers should heed this lesson. Some of the more prevalent myths about first-time home buyers in today’s market are false and harm first-time home buyers.

One of the hard parts about doing anything the first time is that you do not know enough to know what you do not know. First-time home buyers often have to face this exact problem. Applying for a home loan and buying a house can be overwhelming without help. The team at Peoples Choice Mortgage is here to give you all the help you need and make buying a house as simple as possible.

Can you increase your offer and still qualify for a home loan? Is there anything you can do other than increasing your offer that will make it more likely you will successfully close on the home? These are all complicated and important questions in a market as competitive as today’s. However, no matter how tough it is for home buyers, by focusing on the 3 Ps (patience, planning, and professionals) you can buy the house of your dreams.

A mortgage can be described as a financial transaction, which includes a promise to repay a large debt. It comes with official documentation and is regulated by the government. While some people say the mortgage process is a headache, the loans can help you own your dream home.

However, homeownership is a massive undertaking, so you must be prepared to find a lender you can trust. Mortgages come in different varieties, including options ideal for low-income borrowers. Before you sign to get that mortgage, here are some of the things to keep in mind, presented below by People’s Choice Mortgage.

Not everyone wants to a own a multi-unit property. Not everyone dreams of using real estate as an investment vehicle. However, for those that do, it is worth looking into whether it makes sense to buy a multi-family home first and then consider a single-family home later down the road.

Dr. King, Jr. rearticulated the American dream to include this promise of equality for all throughout his works and speeches, including his “I Have a Dream” speech. There is a lot we must still do to make his dream and the American dream a reality for all Americans. One small aspect of that is that we need to make sure that everyone can be a homeowner.

Recent studies conducted by Fannie Mae show that many consumers wish they had more education about how to become a homeowner. At Peoples Choice Mortgage, we definitely agree. The home buying process is complicated and education often means the difference between just any old mortgage broker and a true professional.

As we end 2021, it’s important for future home buyers to prepare for the future. We want to make the process easy for you, which is why we broke down these resolutions into three steps. Just know that you don’t have to go through the steps all by yourself. The independent mortgage brokers at People’s Choice Mortgage are here to help you with every step of the process.

Back in January, President Biden pushed for a first-time homebuyer tax credit of $15,000. Since then, this recommendation has become its own legislation, the First-Time Homebuyer Act of 2021. Should first-time homebuyers wait for this legislation before buying?

The FHFA’s recent decision to raise conforming loan limits is both expected and unprecedented all at the same time. Typically, conforming loan limits are raised each year. However, this usually happens in small amounts to keep up with the cost of living and appreciation. The limit increase for 2022 is much larger than ever before.

Owning a home is a fundamental component of the American dream. It gives you a place to make long term memories with those you love. It is also one of the best ways to build wealth for you and future generations. There is no reason you should let your credit score get in the way of you buying a house or refinancing your current mortgage.

Owning a home is a fundamental component of the American dream. It gives you a place to make long-term memories with those you love. It is also one of the best ways to build wealth for you and future generations. There is no reason you should let your credit score get in the way of you buying a house or refinancing your current mortgage.

While buying a single-family home at today’s mortgage rates is still a great bargain, there is another type of home purchase that has not gotten as much attention as it should. The truth is that multifamily homes are a great option, especially in today’s market, and they should be considered by even first-time home buyers. So, what are the benefits of buying a multifamily property?

Many potential home buyers end up self-selecting themselves out of the home buying process long before they ever hear a lender say no. All of the above reasons why renters do not think they can be home buyers are never a dead end. At worst, they are speed bumps. This is especially true for credit scores. It might shock you, but the reality is that you don’t need perfect credit to get a mortgage.

Buying a house is a big deal, but if you do it armed with the right knowledge and the right support, you have nothing to fear. The team at Peoples Choice Mortgage is here to give first-time home buyers the tools you need to be fearless.

As of now, the number of homeowners in a forbearance program is about 1.6 million. Most of these forbearances will expire in the near future, which will require the homeowners to go into an exit plan. What are forbearance exit plans and what options do homeowners have?

The federal government moratorium was set to expire at the end of July and President Biden did not extend it over fear of his legal ability to do so. Instead, President Biden asked Congress to extend it. The situation seemed bleak as Congress was unable to come to an agreement and instead left on their planned recess. Thankfully, the CDC stepped in and extended the eviction moratorium themselves.

The number of COVID cases are rising in every state in the nation, and in some places, in dramatic fashion. The first major surge that occurred in 2020 caused a series of dominoes to fall that impacted all aspects of our lives, including the real estate market. What lessons can we learn from the last year of the pandemic and what will this latest surge mean for home buyers and homeowners?

In the lead up to 2008, many people were buying homes hand over fist because lenders were willing to provide mortgages to almost anyone. That is not happening today. Lenders are being much more selective. If you look at today’s successful mortgage applicants it is clear that high credit scores have value when applying for a mortgage.

Many are under the assumption that you have to have 20% for a down payment in order to qualify for a mortgage. This is not true. There are a lot of mortgage programs where you do not need a 20% down payment. However, while you don’t need a 20% down payment, it is helpful.