Smaller Homes, Bigger Opportunities: The Homebuilder Trend Buyers Love

Written by Palm Bay FL Mortgage Syndicated User on January 24, 2025. Posted in Buying Tips, For Buyers, Home Prices, Mortgage Rates, Palm Bay FL Condo Financing, Palm Bay FL Mortgage, Palm Bay FL Mortgage Rates.

It’s no secret that affordability is tough with where mortgage rates and home prices are right now. And that may have you worried about how you’ll be able to buy a home. But, if you don’t need a ton of space, you may find you have more cost-effective options in an unexpected place: new home communities.Builders Are Building Smaller Homes Since smaller homes typically come with smaller price tags, buyers have turned their attention to homes with less square footage — and builders have shifted their focus to capitalize on that demand. As U.S. News notes:“The combination of higher home prices and...

Why More People Are Buying Multi-Generational Homes Today

Written by Palm Bay FL Mortgage Syndicated User on January 22, 2025. Posted in Buying Tips, For Buyers, Palm Bay FL Condo Financing, Palm Bay FL Mortgage, Palm Bay FL Mortgage Rates.

Today, 17% of homebuyers are choosing multi-generational homes — that’s when you buy a house with your parents, adult children, or even distant relatives. What makes that noteworthy is that 17% is actually the highest level ever recorded by the National Association of Realtors (NAR). But what’s driving the recent rise in multi-generational living?Top Benefits of Choosing a Multi-Generational HomeIn the past, homebuyers often opted for multi-generational homes to make it easier to care for their parents. And while that’s still a key reason, it’s not the only one. Right now, there’s another powerful...

When Is the Perfect Time To Move?

Written by Palm Bay FL Mortgage Syndicated User on January 21, 2025. Posted in For Buyers, Home Prices, Mortgage Rates, Palm Bay FL Condo Financing, Palm Bay FL Mortgage, Palm Bay FL Mortgage Rates.

It’s easy to get caught up in the idea of waiting for the perfect moment to make your move – especially in today’s market. Maybe you’re holding out and hoping mortgage rates will drop, or that home prices will fall. But here’s what you need to realize: trying to time the market rarely works. And here’s why.There is no perfect market.No matter when you buy, there’s always some benefit and some sort of trade-off – and that’s not a bad thing. That’s just the reality of it. If you’re not sure you buy into that, think back to the last 5 years in housing. Just a few years ago, mortgage rates hit a...

One Homebuying Step You Don’t Want To Skip: Pre-Approval

Written by Palm Bay FL Mortgage Syndicated User on January 17, 2025. Posted in For Buyers, Home Prices, Palm Bay FL Condo Financing, Palm Bay FL Mortgage, Palm Bay FL Mortgage Rates.

There’s one essential step in the homebuying process you may not know a whole lot about and that’s pre-approval. Here’s a rundown of what it is and why it’s so important right now.What Is Pre-Approval?Pre-approval is like getting a green light from a lender. It lets you know how much they’re willing to let you borrow for a home. To determine that number, a lender looks at your financial history. According to Realtor.com, these are some of the documents a lender may ask you for during this process:W-2s from the last two yearsTax returns from the last two yearsPay stubs from the last 30 daysBank...

The Truth About Credit Scores and Buying a Home

Written by Palm Bay FL Mortgage Syndicated User on January 15, 2025. Posted in Buying Tips, For Buyers, Palm Bay FL Condo Financing, Palm Bay FL Mortgage, Palm Bay FL Mortgage Rates.

Your credit score plays a big role in the homebuying process. It’s one of the key factors lenders look at to determine which loan options you qualify for and what your terms might be. But there’s a myth about credit scores that may be holding some buyers back.The Myth: You Need To Have Perfect CreditAccording to Fannie Mae, only 32% of potential homebuyers have a good idea of what credit score lenders actually require. That means two-thirds of buyers don’t actually know what lenders are looking for – and most overestimate the minimum credit score needed.The Reality: Perfect Isn’t NecessaryBut...

What To Save for When Buying a Home

Written by Palm Bay FL Mortgage Syndicated User on January 10, 2025. Posted in Agent Value, Buying Tips, For Buyers, Palm Bay FL Condo Financing, Palm Bay FL Mortgage, Palm Bay FL Mortgage Rates.

Knowing what to budget for when buying a home may feel intimidating — but it doesn’t have to be. By understanding the costs you may encounter upfront, you can take control of the process.Here are just a few things experts say you should be thinking about as you plan ahead.1. Down PaymentSaving for your down payment is likely top of mind. But how much do you really need? A common misconception is that you have to put down 20% of the purchase price. But that’s not necessarily the case. Unless it’s specified by your loan type or lender, you don’t have to. There are some home loan options that require...

Expert Forecasts for the 2025 Housing Market

Written by Palm Bay FL Mortgage Syndicated User on January 8, 2025. Posted in For Buyers, For Sellers, Forecasts, Home Prices, Mortgage Rates, Palm Bay FL Condo Financing, Palm Bay FL Mortgage, Palm Bay FL Mortgage Rates.

Wondering what’s in store for the housing market this year? And more specifically, what it all means for you if you plan to buy or sell a home? The best way to get that information is to lean on the pros.Experts are constantly updating and revising their forecasts, so here’s the latest on two of the biggest factors expected to shape the year ahead: mortgage rates and home prices.Will Mortgage Rates Come Down?Everyone’s keeping an eye on mortgage rates and waiting for them to come down. So, the question is really: how far and how fast? The good news is they’re projected to ease a bit in 2025....

Time in the Market Beats Timing the Market

Written by Palm Bay FL Mortgage Syndicated User on January 7, 2025. Posted in Equity, For Buyers, Palm Bay FL Condo Financing, Palm Bay FL Mortgage, Palm Bay FL Mortgage Rates.

Trying to decide whether it makes more sense to buy a home now or wait? There’s a lot to consider, from what’s happening in the market to your changing needs. But generally speaking, aiming to time the market isn’t a good strategy – there are too many factors at play for that to even be possible.That’s why experts usually say time in the market is better than timing the market. In other words, if you want to buy a home and you’re able to make the numbers work, doing it sooner rather than later is usually worth it. Bankrate explains why: “No matter which way the real estate market is leaning,...

Get Ready To Buy a Home in 2025

Written by Palm Bay FL Mortgage Syndicated User on January 4, 2025. Posted in Buying Tips, For Buyers, Infographics, Palm Bay FL Condo Financing, Palm Bay FL Mortgage, Palm Bay FL Mortgage Rates.

Some HighlightsIf buying a home is on your goal sheet this year, here’s how to make it happen.Focus on improving your credit, planning for your down payment, getting pre-approved, and prioritizing your wish list.But first, connect with a trusted agent and lender so you have expert advice every step of the way.

New Year, New Home: How To Make It Happen in 2025

Written by Palm Bay FL Mortgage Syndicated User on January 2, 2025. Posted in Buying Tips, For Buyers, Palm Bay FL Condo Financing, Palm Bay FL Mortgage, Palm Bay FL Mortgage Rates.

This is the time when a lot of people take a moment to reflect and set their goals for this year. And as you picture what you want your 2025 to look like, one thing that may pop into your mind is the vision of you in a new home. But how do you get there? And where do you start?Here’s some advice that can help you get the ball rolling. Focus on Your WhyTo lay the foundation, you need to focus on your why. While the dollars and cents are important, so is the driving force behind your desire to move. Maybe you need more space for a growing family, want to sell so you can downsize, or are finally...

Category: For Buyers