Some buyers want a home but can’t afford a 20% down payment. I understand! On a $500K property, a $25K down payment (5%) is a lot easier than $100K (20%). Lenders require those who put down less than 20% to secure PMI, Private Mortgage Insurance. PMI provides lenders a safety blanket and you flexibility, but can cost up to 2% of your loan annually. I’m here to tell you that you’re not handcuffed forever. Here are a
Many prefer the comfort of investing where they live. But, they reside in areas where real estate prices are prohibitive (e.g., New York City, San Francisco, Washington D.C.). If this is you, long-distance investments in a market like Philadelphia may be the perfect way to diversify your portfolio. Tips to invest from out of state and abroad: 1. Philadelphia Realtor. Hire a Philadelphia expert who has a finger on the pulse of the area. You can look
While the real estate market has slowed during the holidays, it doesn’t have to slow down for you. We may be on the brink of a boom, and this could be your last chance for a great deal before the end of the year! Perfect Conditions 1. Promising Vaccines. Moderna and Pfizer’s vaccines, 94.5% and 95% effectiveness respectively, bode well for a return to pre-crisis economic stability. 2. Limited Inventory. Housing supply is at a 40-year low,
The Fed has pledged to keep the Federal Funds Rate close to 0% for the foreseeable future. Banks have passed along the savings via low mortgage rates and helped create strong market conditions. Now that we’ve covered 2 principal instruments to lock in rates (Part 1) and how to minimize your interest rates (Part 2), the following will explore ways to make these rates work for you. Investment. Philadelphia demand is primed to remain robust with the
Buying a home is one of the most significant purchases made in a lifetime—one that often requires hundreds of thousands of dollars borrowed. A 1% reduction in interest could equate to tens of thousands in savings. Especially in this historically low interest rate environment, the following tips will help minimize your interest rate and maximize your wallet. 1. Healthy Credit. The higher your credit score, the more likely a lender will offer you superior rates. 2. Low
Mortgage rates have reached record lows. Freddie Mac reported 30-year Fixed Rate Mortgages (FRM) below 3% and 15-year rates below 2.5% (best in 30 years). Lower rates mean reduced monthly payments. We’ll compare 2 mortgages that enable you to lock-in low rates, 15- or 30-Year FRMs. 30-Year Pros: • Payments. Monthly payments more affordable since they’re spread over 30 years. • Purchasing Power. Lower payments make it easier to qualify for a higher-priced home. Cons: • Cost.
The summer sales season is coming to a close. But that doesn’t mean it isn’t a good time to buy a house. In fact, new numbers from the National Association of Realtors show buying conditions have actually improved. For example, in August, homes for sale were on the market longer than they were the month before. According to the report, properties typically remained on the market for 31 days in August, up from 29 days in July.
You need to have some money if you want to buy a house. That’s no surprise. But knowing how much you need is another question. And it’s a question a lot of potential home buyers don’t know the answer to. In fact, a recent survey from Bankrate found that 51 percent of Americans said they didn’t know the required minimum down payment. Another 28 percent said a down payment of 20 percent was necessary to buy a
Helping You Achieve Your Dreams Of Buying A Home Owning a home is one of the most significant life dreams for many. But when it comes to buying a home, every potential buyer seeks something different and unique to their wishes. It is this uniqueness that makes buying a home difficult for many buyers. In the end, the hopes of owning that perfect dream house is what motivates their ambition. The acquisition of private residential property is
What Is Real Estate Investment? As a company that is in the business of real estate investment, we believe that we are your best bet when it comes to turning different opportunities in the real estate market into potential riches. But before you delve into how it can be a source of wealth; we shall help you understand what real estate investing is and what it is all about. From an academic viewpoint, real estate is defined
The Ultimate Guide To Hiring A Reputable Realtor in Philadelphia Buying or selling a property is risky – make a mistake, and you could end up with huge losses. Whereas selling or buying the right way gives you value for your money. With high stakes likes these in play, it’s imperative that you make sure you are selling, buying or investing in real estate the right way. To that end, you need to partner with a reputable
Amazing Article About Realtor Philadelphia (And If You Looking To Buy A House In Philadelphia Just Call Us Now: (267) 666-0666 🙂 ) When You’re Looking for the Best Realtor Philadelphia Has to Offer – You’re a Philadelphia resident in search of a home. You know that the best way to find the right house is with a realtor. A realtor is a crucial factor in ensuring you find a home that is best for you and for your