Monday, December 23, 2024 / by Vanessa Saunders
They Could Be the Sweetener You Need to Seal the Deal!
Imagine buying a home and not being stuck with today’s sky-high interest rates. Sounds dreamy, right? Welcome to the world of assumable loans, a secret weapon for both buyers and sellers in a challenging market. But what are they, and why should you care? Let’s dive in.
What Is an Assumable Loan?
Think of it as the ultimate hand-me-down, but instead of your cousin’s old sweater, you’re inheriting a mortgage with a better interest rate. Assumable loans let a buyer take over the seller’s existing mortgage, including that oh-so-attractive lower interest rate. FHA and VA loans are the most common types, but here’s the catch: not every loan is assumable, and the process can be a bit tricky without the right guidance.
Why Should Sellers Care?
Are you sitting on an FHA or VA loan with an enviably low interest rate? That’s not just a benefit for you—it’s a golden ticket for your ! ...
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Tuesday, November 19, 2024 / by Vanessa Saunders
PITI: The Key to Smart Home Buying in New Hampshire
Buying a home is one of the most exciting—and sometimes overwhelming—experiences of your life. But before you start picking out paint colors and dreaming of backyard barbecues, it’s essential to understand a critical piece of the home-buying puzzle: PITI.
What is PITI, you ask? Let’s break it down and show you why understanding this term can make all the difference in finding the perfect home that fits your budget and your lifestyle. But before you start picking out paint colors and dreaming of backyard barbecues, it’s essential to understand a critical piece of the home-buying puzzle: PITI. If you’re new to the process, check out our guide to Navigating the Home-Buying Process for a complete overview
What Is PITI?
PITI stands for Principal, Interest, Taxes, and Insurance, and it’s the total monthly cost of owning a home. While many people focus solely on their mortgage paymen! ...
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new hampshire, real estate, buying a home, new hampshire homes, local market expertise, new hampshire broker, real estate expert, home buying process, buyer agent, home buying journey, finding a home, mortgage moments, financing
Friday, August 23, 2024 / by Vanessa Saunders
Mortgage Rate Shifts and Your Buying Potential
In the world of homebuying, even minor shifts in mortgage rates can have a big impact on your purchasing power. With factors like economic trends, job markets, and decisions by the Federal Reserve all playing a role, mortgage rates can change in ways that directly affect your monthly payments. A slight uptick in rates could lead to higher payments, potentially narrowing your options when it comes to choosing your next home.
Being aware of how these rate changes influence your budget is essential as you plan your home purchase. Curious about how different rates might affect what you can afford? Let’s dive into how mortgage rates can shape your homebuying experience in New Hampshire.
Dispelling Common Homebuying Myths
Myth 1: Home Prices Are Set to Plummet
Some are waiting for a price crash to get a better deal, but today’s market dynamics are different. With limited housing supply in New Hampshire, a significant price drop H ...
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new hampshire, real estate, lakes region, buying a home, local market expertise, new hampshire homes, real estate market, real estate guidance, new hampshire broker, home buying process, real estate expert, buyer agent, finding a home, home buying journey, mortgage moments
