Closing costs typically are about 3-5% of your new home’s purchase price. This amount may vary, however, based on your home’s location, cost and other factors. Lenders are required to provide a Loan Estimate, which includes information about closing costs, within three days after you apply for a loan. Remember—this is just an estimate. Just… Read More »Estimating Your Closing Costs
Should You Buy or Sell Now? The housing market is always changing, and in recent years, it has become more unpredictable. This has left many potential buyers and sellers wondering whether it is the right time to move. Factors Contributing to Housing Market Volatility Several factors have contributed to the recent volatility in the housing… Read More »Navigating the Volatile Housing Market
Are you contemplating buying a home this year? Taking such a significant leap forward is a crucial milestone. Life-changing events such as marriage, divorce, job opportunities, or just the desire for a better lifestyle often spur this decision. We’re aware that today’s economic climate and inflation worries may have you evaluating your living situation. Even… Read More »How life events can change your housing needs.
Buying a home is one of the most significant investments you’ll make. Low mortgage rates have made it easier for people to afford their dream homes over the last dozen years. In 2023, home mortgage rates have been soaring, causing problems for people who want to buy a house. While higher mortgage rates may discourage… Read More »In a High Mortgage Rate Environment – What Are Your Options to Buy a Home?
What do I need to know about Adjustable-Rate Mortgages? An adjustable-rate mortgage, or ARM, is a home loan with an interest rate that can change periodically. This means that your monthly mortgage payment could go up or down over the life of your loan. ARMs are typically used by borrowers who plan to sell their… Read More »What is an Adjustable-Rate Mortgage?
The national trend of homebuyers seeking out properties in need of renovations has established a firm foothold in the Hudson Valley, where low inventory and a critically-low inventory of turnkey houses, have repositioned the market. As a result of these shifting sands, many homebuyers are pivoting and staking their claim in the American Dream by… Read More »Renovation Loan
Home buyers have several financing options to choose from, and two of the most common are conventional loans and FHA loans. If you’re thinking about buying a home, it’s important to understand the differences between the two loans so you can choose the best mortgage for your needs. How Do Conventional Loans Work? The term… Read More »The Conventional Loan vs. FHA Loans
The annual percentage rate (APR) is a term you’re likely to encounter while reviewing your mortgage options. Thankfully, it’s not difficult to understand—but what is APR exactly? Knowing how the APR works can help compare different loans to help you get the best deal possible. What Is the Annual Percentage Rate? When many people compare… Read More »What is APR and How Does it Affect Your Mortgage?
Closing costs are important fees that you should know about if you are considering applying for a mortgage. These fees vary depending on the lender and are usually 2% to 6% of the amount you are borrowing. By understanding how closing costs work and which fees are typically included, you can save money by going… Read More »Understanding Mortgage Closing Costs
