You know it’s time—you’re tired of throwing money away in rent and you’re ready for a home of your own. Buying a condo, townhome or house is one of the biggest investments you’ll ever make, and can feel like a daunting decision. Here are 10 tips to ensure that, instead of buyer’s remorse, you’ll be able to rest assured that you got the right home—at the right price—for you.
Buying a home is a complicated process, and many people find the number of factors involved in the process to be overwhelming. Because your mortgage terms will be based on your financial situation at the time you apply, what you do while applying for a mortgage can have a real effect on the mortgage and rate you will actually get. Taking a few precautions while you prepare for your mortgage application—and avoiding several mistakes—may help you get better terms on your loan. The PorchLight Real Estate Group of Denver, Colorado, offers these guidelines.
For people who are in the market for a new home, keeping an eye on rising and falling mortgage rates can become something of an obsession. Right now, home mortgage rates are on the rise, which means anxiety levels for some prospective buyers are also rising. But increasing interest rates for mortgages are not automatically a cause for panic, and they don’t necessarily mean you should keep renting instead of looking for a house to buy. Using data from the national real-estate portal Trulia, the PorchLight Real Estate Group helps to break down the numbers for home buyers and lists some of the factors to consider when home mortgage interest rates are on the rise.