4 Things Every Renter Needs To Consider

Written by Ocala Mortgage Syndicated User on November 16, 2021. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Mortgage Ocala, Ocala Mortgage, Rent vs. Buy.

As a renter, you’re constantly faced with the same dilemma: keep renting for another year or purchase a home? Your answer depends on your current situation and future plans, but there are a number of benefits to homeownership every renter needs to consider. Here are a few things you should think about before you settle on renting for another year. 1. Rents Are Rising Quickly Rent increasing each year isn’t new. Looking back at Census data confirms rental prices have gone up consistently for decades (see graph below):If you’re a renter, you’re faced with payments that continue to climb each...

VA Loans: Helping Veterans Achieve Their Homeownership Dreams

Written by Ocala Mortgage Syndicated User on November 12, 2021. Posted in Buying Myths, Down Payments, For Buyers, Mortgage Ocala, Ocala Mortgage, Time-sensitive.

The purpose of Veterans Affairs (VA) home loans is to provide a pathway to homeownership for those who have sacrificed so much by serving our nation. As the Veterans Administration says of the program: “The objective of the VA Home Loan Guaranty program is to help eligible Veterans, active-duty personnel, surviving spouses, and members of the Reserves and National Guard purchase, retain, and adapt homes in recognition of their service. . . .” For over 75 years, VA home loans have provided millions of veterans and their families the opportunity to purchase their own homes. 2020 Data on VA...

What’s Happening with Home Prices?

Written by Ocala Mortgage Syndicated User on November 11, 2021. Posted in For Buyers, For Sellers, Housing Market Updates, Mortgage Ocala, Ocala Mortgage, Pricing.

Many people have questions about home prices right now. How much have prices risen over the past 12 months? What’s happening with home values right now? What’s projected for next year? Here’s a look at the answers to all three of these questions. How much have home values appreciated over the last 12 months? According to the latest Home Price Index from CoreLogic, home values have increased by 18.1% compared to this time last year. Additionally, prices have gone up at an accelerated pace for each of the last eight months (see graph below):The increase in the rate of appreciation that’s shown...

Two Graphs That Show Why You Shouldn’t Be Upset About 3% Mortgage Rates

Written by Ocala Mortgage Syndicated User on November 9, 2021. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Mortgage Ocala, Move-Up Buyers, Ocala Mortgage.

With the average 30-year fixed mortgage rate from Freddie Mac climbing above 3%, rising rates are one of the topics dominating the discussion in the housing market today. And since experts project rates will rise further in the coming months, that conversation isn’t going away any time soon. But as a homebuyer, what do rates above 3% really mean? Today’s Average Mortgage Rate Still Presents Buyers with a Great Opportunity Buyers don’t want mortgage rates to rise, as any upward movement increases your monthly mortgage payment. But it’s important to put today’s average mortgage rate into perspective....

Experts Project Mortgage Rates Will Continue To Rise in 2022

Written by Ocala Mortgage Syndicated User on November 4, 2021. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Mortgage Ocala, Move-Up Buyers, Ocala Mortgage, Pricing.

Mortgage rates are one of several factors that impact how much you can afford if you’re buying a home. When rates are low, they help you get more house for your money. Within the last year, mortgage rates have hit the lowest point ever recorded, and they’ve hovered in the historic-low territory. But even over the past few weeks, rates have started to rise. This past week, the average 30-year fixed rate was 3.14%. What does this mean if you’re thinking about making a move? Waiting until next year will cost you more in the long run. Here’s a look at what several experts project for mortgage rates...

Renters Missed Out on $51,500 This Past Year

Written by Ocala Mortgage Syndicated User on November 2, 2021. Posted in First Time Home Buyers, For Buyers, Mortgage Ocala, Ocala Mortgage, Pricing, Rent vs. Buy.

Rents have increased significantly this year. The latest National Rent Report from Apartmentlist.com shows rents are rising at a rate much higher than the three years leading up to the pandemic: “Since January of this year, the national median rent has increased by a staggering 16.4 percent. To put that in context, rent growth from January to September averaged just 3.4 percent in the pre-pandemic years from 2017-2019.” Looking back, we can see rents rising isn’t new. The median rental price has increased consistently over the past 33 years (see graph below):If you’re thinking of renting...

The Mortgage Process Doesn’t Have To Be Scary [INFOGRAPHIC]

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

Some Highlights Applying for a mortgage is a big step towards homeownership, but it doesn’t need to be one you fear. Here are some tips to help you prepare. Know your credit score and work to build strong credit. When you’re ready, lean on your agent to connect you with a lender so you can get pre-approved and begin your home search. Any major life change can be scary, and buying a home is no different. Let’s connect so you have an advisor by your side to take the fear out of the equation. Content previously posted on Keeping Current Matters

Knowledge Is Power When It Comes to Appraisals and Inspections

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

Buyers in today’s market often have questions about the importance of getting a home appraisal and an inspection. That’s because high buyer demand and low housing supply are driving intense competition and leading some buyers to consider waiving those contingencies to stand out in the crowded market. But is that the best move? Buying a home is one of the most important transactions in your lifetime, and it’s critical to keep your best interests in mind. Here’s a breakdown of what to expect from the appraisal and the inspection, and why each one can potentially save you a lot of time, money,...

There Are More Homes Available Now than There Were This Spring

Written by Ocala Mortgage Syndicated User on October 29, 2021. Posted in For Buyers, For Sellers, Housing Market Updates, Mortgage Ocala, Move-Up Buyers, Ocala Mortgage.

There’s a lot of talk lately about how challenging it can be to find a home to buy. While housing inventory is still low, there are a few important things to understand about the supply of homes for sale as we move into the end of the year. The Number of Homes for Sale Usually Peaks in the Fall In the residential real estate market, trends generally follow a predictable and seasonal pattern. Typically, the number of homes available for sale (or active monthly listings) peaks in the fall. But in a chapter where so little feels normal, the question becomes: should we expect a fall peak this year? If...

Looking To Move? It Could Be Time To Build Your Dream Home.

Written by Ocala Mortgage Syndicated User on October 29, 2021. Posted in For Buyers, For Sellers, Mortgage Ocala, Move-Up Buyers, New Construction, Ocala Mortgage.

While today’s supply of homes for sale is still low, the number of newly built homes is increasing. If you’re ready to sell but have held off because you weren’t sure you’d be able to find a home to move into, newly built homes and those under construction can provide the options you’ve been waiting for. The latest Census data shows the inventory of new homes is increasing this year (see graph below):With more new homes coming to the market, this means you’ll have more options to choose from if you’re ready to buy. Of course, if you do consider a newly built home, you’ll want to keep timing...

Category: For Buyers