If you’ve been putting off buying a home because you thought getting approved would be too hard, know this: qualifying for a mortgage is starting to get a bit more achievable, but lending standards are still strong.
Remember the chatter in the headlines about all the homes big institutional investors were buying? If you were thinking about buying a home yourself, you may have wondered how you’d ever be able to compete with that.
Life can feel a bit unpredictable these days. What’s happening with inflation? The economy? The housing market? But in the middle of all that uncertainty, there’s one thing a lot of people still crave – a place to call their own.
If you’re a first-time homebuyer, you might feel like the odds are stacked against you in today’s market. But there are resources and programs out there that can help – if you know where to look.
A lot of buyers are pressing pause on their plans these days, holding out hope that mortgage rates will come down – maybe even back to the historic-low 3% from a few years ago. But here’s the thing: those rates were never meant to last.
When buying a home, you’re probably thinking about mortgage rates, home prices, your down payment, and maybe even your closing costs. But you may not be thinking about homeowners association (HOA) fees.
If buying a home is on your radar – even if it’s more of a someday plan than a right now plan – getting pre-approved early is still one of the smartest moves you can make.