Many first-time home buyers assume that once you get pre-qualified for a mortgage that it is all smooth sailing from there. However, the truth is that there is a lot that can happen between pre-qualification and the closing table that can jeopardize your mortgage. The time between pre-qualification and closing is crucial because lenders are still underwriting the home loan.

This winter home buyers are finding themselves in a favorable market. Market rates are still very low, which means that home buyers will save money over the life of a mortgage. At the same time, inventory is about to improve, which means that home prices will level off. Home buyers should take advantage of these conditions before mortgage rates rise.

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?

Buying a house at today’s prices means that you benefit from tomorrow’s rising prices. On top of that, the likelihood of rising mortgage rates means your mortgage will be more expensive. Today’s real estate market is thriving all over the nation, but especially in Boston.

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.

The pandemic changed how people thought about their homes and what they wanted in a house. Many of these changes will remain with us long after the virus is gone. The team at Peoples Choice Mortgage is here to look at some of the pandemic home buying trends that have some staying power.

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.

When the pandemic first made it to America we all thought that it would be here for a few weeks and then life would be back to normal. Over eighteen months later and we are not back to normal. On top of that, new variants like Delta and Omicron keep popping up and changing the course of the pandemic in ways many would not have predicted. As the pandemic changes, so do our public health responses and so does the economy, along with the real estate market.

Today’s real estate market is difficult for home buyers, with COVID-19 changing how we buy homes. Homes available for purchase are limited and there are a lot more buyers than homes on the market. Remember, difficult is not the same as impossible. It just means that you cannot expect to be able to buy a house just because you put in an offer. You will need the patience to succeed in this market.

A new program that was just announced by one of our leading lenders might allow you to kiss mortgage insurance goodbye. This program is unique because it does not require you to pay for mortgage insurance if you put down a ten percent down payment. Not having to carry mortgage insurance for a ten percent down payment is nearly unheard for a traditional mortgage.

There is a lot that goes into buying a home and mortgage contracts can be confusing. The best way to navigate this process and make sure you have a realistic budget is to work with a true professional. The independent mortgage brokers at Peoples Choice Mortgage are here to help you with every step of the process.

Global economics is very complex and it is hard to precisely predict the fallout of China’s real estate crisis. However, if it does end up freeing up building materials for US home builders then US home buyers will be the big winners. This would allow home buyers to take advantage of low mortgage rates and buy the house of their dreams.

Rock bottom mortgage rates are incredible for current homeowners because they provide an opportunity to refinance their existing mortgages. However, not all homeowners have been able to take advantage of this opportunity. Lenders have been very selective with their mortgage refinance requirements. Fortunately, it looks like good news is on the horizon and more homeowners will be able to refinance their current home loans.

In spite of the record bull run the housing market has seen, the naysayers are still around waiting for signs of a crash. Recently, real estate doomsayers have something new they are pointing to, the Zillow controversy. How concerned should you be about what is happening to Zillow if you are a home buyer or homeowner?

For the past year, homeowners and buyers saw mortgage rates tumble to historic lows and then hover near there to this day. Unfortunately, it looks like this incredible real estate trend is coming to an end. All indications are that mortgage rates are going to start rising and will continue to rise through the end of this year.

Unfortunately for renters, the trends are pretty clear that they should not expect any relief when it comes to rent prices. Fortunately, becoming a homeowner is a great way to get out of the misery of constantly rising rents. While many headlines have been devoted to the difficulties of buying a house in today’s market, the truth is that the market is improving.

Owning a home provides material and immaterial benefits that are truly life changing. That is why we believe that everyone deserves to own a home. Thankfully, trends in home prices mean that this dream is more attainable than ever before. Here is what you need to know about home prices as a home buyer ...

Becoming a homeowner is a cornerstone of the American dream and we firmly believe that everyone should have access to it. That is why we have always gone above and beyond for our clients, whether they are ready to qualify for a mortgage today or need to work to improve their chances for the future. Partnering with The Debt Relief Team is just one more way that we are living up to that commitment …

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?