Why Pre-Approval Is Key for Homebuyers in 2022

Written by Ocala Mortgage Syndicated User on January 25, 2022. Posted in First Time Home Buyers, For Buyers, Mortgage Ocala, Move-Up Buyers, Ocala Mortgage.

You may have heard that it’s important to get pre-approved for a mortgage at the beginning of the homebuying process, but what does that really mean, and why is it so important? Especially in today’s market, with rising home prices and high buyer competition, it’s crucial to have a pre-approval letter prior to making an offer. Here’s why. Being intentional and competitive are musts when buying a home this year. Pre-approval from a lender is the only way to know your true price range and how much money you can borrow for your loan. Just as important, being able to present a pre-approval letter...

With Mortgage Rates Climbing, Now’s the Time To Act

Written by Ocala Mortgage Syndicated User on January 20, 2022. Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Mortgage Ocala, Move-Up Buyers, Ocala Mortgage.

Last week, the average 30-year fixed mortgage rate from Freddie Mac jumped from 3.22% to 3.45%. That’s the highest point it’s been in almost two years. If you’re thinking about buying a home, this news may have come as a bit of a shock. But the truth is, it wasn’t entirely unexpected. Experts have been calling for rates to rise in their 2022 projections, and the forecast is now becoming a reality. Here’s a look at the projections from Freddie Mac for this year: Q1 2022: 3.4% Q2 2022: 3.5% Q3 2022: 3.6% Q4 2022: 3.7% As the numbers show, this jump in rates is in line with the expectations...

Achieving the Dream of Homeownership

Written by Ocala Mortgage Syndicated User on January 18, 2022. Posted in First Time Home Buyers, For Buyers, Mortgage Ocala, Ocala Mortgage.

Homeownership has long been considered the American Dream, and it’s one every American should feel confident and powerful pursuing. But owning a home is also a deeply personal dream. Our home provides us with safety and security, and it’s a place where we can grow and flourish. Today, we remember the legacy of Dr. Martin Luther King, Jr. Many of us will remember his passion and determination for the causes he championed, including his famous “I Have a Dream” speech in 1963. As we reflect on his message today, it may inspire your own dream of homeownership. And if so, know you’re not alone....

Two Ways Homebuyers Can Win in Today’s Market

Written by Ocala Mortgage Syndicated User on January 13, 2022. Posted in First Time Home Buyers, For Buyers, Mortgage Ocala, Move-Up Buyers, Ocala Mortgage.

If your goal is to purchase a home this year, you might be looking for any advantage you can get in today’s sellers’ market. While competition is still fierce for homebuyers, there are ways you can win and secure the home of your dreams, even in a hot market. Act Early and Save The earlier you act this year, the more affordable your purchase will be. That’s because experts project mortgage rates will rise as we move deeper into 2022. According to Freddie Mac, the average 30-year fixed-rate mortgage is expected to be 3.5% by year’s end. Experts forecast home prices will rise as well. That means...

Why Inflation Shouldn’t Stop You from Buying a Home in 2022

Written by Ocala Mortgage Syndicated User on January 12, 2022. Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Mortgage Ocala, Move-Up Buyers, Ocala Mortgage, Pricing.

If you’re following along with the news today, you’re probably hearing a lot about record-breaking home prices, rising consumer costs, supply chain constraints, and more. And if you’re thinking about purchasing a home this year, all of these inflationary concerns are likely making you wonder if you should wait to buy. Investopedia explains that during a period of high inflation, prices rise across the board. And while home prices aren’t immune from this increase, here’s why inflation shouldn’t stop you from buying a home in 2022. Homeownership Offers Stability and Security Home prices have...

How To Hit Your Homebuying Goals This Year [INFOGRAPHIC]

Written by Ocala Mortgage Syndicated User on January 8, 2022. Posted in Down Payments, First Time Home Buyers, For Buyers, Infographics, Mortgage Ocala, Move-Up Buyers, Ocala Mortgage.

Some Highlights If you’re looking to buy a home, you may want to put these items on your to-do list to ensure you hit your goals. It’s important to start working on your credit and saving for a down payment early. When you’re ready to begin your search, work with a real estate professional and get pre-approved so you know how much you can borrow. Connect with a real estate advisor so you have the guidance you need to achieve your homebuying goals this year. Content previously posted on Keeping Current Matters

Avoid the Rental Trap in 2022

Written by Ocala Mortgage Syndicated User on January 5, 2022. Posted in First Time Home Buyers, For Buyers, Mortgage Ocala, Ocala Mortgage, Rent vs. Buy.

Are you one of the many renters thinking about where you’ll live the next time your lease is up? Before you decide whether to look for a new house or another apartment, it’s important to understand the true costs of renting in 2022. As a renter, you should know rents have been rising since 1988 (see graph below): In 2021, rents grew dramatically. According to ApartmentList.com, since January 2021: “. . . the national median rent has increased by a staggering 17.8 percent. To put that in context, rent growth from January to November averaged just 2.6 percent in the pre-pandemic years from...

5 Tips for Making Your Best Offer on a Home

Written by Ocala Mortgage Syndicated User on December 29, 2021. Posted in Buying Myths, First Time Home Buyers, For Buyers, Mortgage Ocala, Move-Up Buyers, Ocala Mortgage.

As a buyer in a sellers’ market, sometimes it can feel like you’re stuck between a rock and a hard place. When you’re ready to make an offer on a home, remember these five easy tips to help you rise above the competition. 1. Know Your Budget Knowing your budget and what you can afford is critical to your success as a homebuyer. The best way to understand your numbers is to work with a lender so you can get pre-approved for a loan. As Freddie Mac puts it: “This pre-approval allows you to look for a home with greater confidence and demonstrates to the seller that you are a serious buyer.” Showing...

When a House Becomes a Home

Written by Ocala Mortgage Syndicated User on December 24, 2021. Posted in First Time Home Buyers, For Buyers, Mortgage Ocala, Move-Up Buyers, Ocala Mortgage.

It’s clear that owning a home makes financial sense. But lately, the emotional side of what drives homeownership is becoming increasingly important. No matter the living space, the feeling of a home means different things to different people. Whether it’s a familiar scent or a favorite chair, the feel-good connections to our own homes can be more important to us than the financial ones. Here are some of the reasons why. 1. Owning your home is an accomplishment worth celebrating You’ve put in a lot of work to achieve the dream of homeownership, and whether it’s your first home or your fifth,...

The Perks of Putting 20% Down on a Home

Written by Ocala Mortgage Syndicated User on December 23, 2021. Posted in Down Payments, First Time Home Buyers, For Buyers, Mortgage Ocala, Move-Up Buyers, Ocala Mortgage.

If you’re thinking of buying a home, you’re probably wondering what you need to save for your down payment. Is it 20% of the purchase price, or could you put down less? While there are lower down payment programs available that allow qualified buyers to put down as little as 3.5%, it’s important to understand the many perks that come with a 20% down payment. Here are four reasons why putting 20% down may be a great option if it works within your budget. 1. Your Interest Rate May Be Lower A 20% down payment vs. a 3-5% down payment shows your lender you’re more financially stable and not a large...

Category: First Time Home Buyers