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

Written by Gulf Breeze Mortgage Syndicated User on January 11, 2022. Posted in Buying Myths, First Time Home Buyers, For Buyers, Gulf Breeze Mortgage, Housing Market Updates, Interest Rates, Mortgage Gulf Breeze, Move-Up Buyers, 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 Much Do You Need for Your Down Payment?

Written by Gulf Breeze Mortgage Syndicated User on January 3, 2022. Posted in Buying Myths, Down Payments, For Buyers, Gulf Breeze Mortgage, Mortgage Gulf Breeze.

As you set out on your homebuying journey, you likely have a plan in place, and you’re working on saving for your purchase. But do you know how much you actually need for your down payment? If you think you have to put 20% down, you may have set your goal based on a common misconception. Freddie Mac says: “The most damaging down payment myth—since it stops the homebuying process before it can start—is the belief that 20% is necessary.” Unless specified by your loan type or lender, it’s typically not required to put 20% down. According to the Profile of Home Buyers and Sellers from the National...

5 Tips for Making Your Best Offer on a Home

Written by Gulf Breeze Mortgage Syndicated User on December 28, 2021. Posted in Buying Myths, First Time Home Buyers, For Buyers, Gulf Breeze Mortgage, Mortgage Gulf Breeze, Move-Up Buyers.

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...

Key Things To Avoid After Applying for a Mortgage

Written by Gulf Breeze Mortgage Syndicated User on December 27, 2021. Posted in Buying Myths, For Buyers, Gulf Breeze Mortgage, Mortgage Gulf Breeze.

Once you’ve found your dream home and applied for a mortgage, there are some key things to keep in mind before you close. It’s exciting to start thinking about moving in and decorating your new place, but before you make any large purchases, move your money around, or make any major life changes, be sure to consult your lender – someone who’s qualified to explain how your financial decisions may impact your home loan. Here’s a list of things you shouldn’t do after applying for a mortgage. They’re all important to know – or simply just good reminders – for the process. 1. Don’t Deposit Cash...

Two Reasons Why Waiting To Buy a Home Will Cost You

Written by Gulf Breeze Mortgage Syndicated User on December 9, 2021. Posted in Buying Myths, First Time Home Buyers, For Buyers, Gulf Breeze Mortgage, Interest Rates, Mortgage Gulf Breeze, Move-Up Buyers, Pricing.

If you’re a homeowner who’s decided your current house no longer fits your needs, or a renter with a strong desire to become a homeowner, you may be hoping that waiting until next year could mean better market conditions to purchase a home. To determine whether you should buy now or wait another year, you can ask yourself two simple questions: Where will home prices be a year from now? Where will mortgage rates be a year from now? Let’s shed some light on the answers to both of these questions. Where Will Home Prices Be a Year from Now? Three major housing industry entities are projecting...

Why It Just Became Much Easier To Buy a Home

Written by Gulf Breeze Mortgage Syndicated User on December 7, 2021. Posted in Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Gulf Breeze Mortgage, Housing Market Updates, Interest Rates, Mortgage Gulf Breeze, Move-Up Buyers.

Since the pandemic began, Americans have reevaluated the meaning of the word home. That’s led some renters to realize the many benefits of homeownership, including the feelings of security and stability and the financial benefits that come with rising home equity. At the same time, many current homeowners have decided their house no longer meets their needs, so they moved into homes with more space inside and out, including a home office for remote work. However, not every purchaser has been able to fulfill their desire for a new home. Here are two obstacles some homebuyers are facing: The...

Tips for Single Homebuyers: How To Make Your Dream a Reality

Written by Gulf Breeze Mortgage Syndicated User on December 2, 2021. Posted in Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Gulf Breeze Mortgage, Mortgage Gulf Breeze.

If you’re living on your own and looking to buy a home, know that you can make your dream a reality with thoughtful planning and the right team of experts. Research from Freddie Mac shows 28% of all households (36.1 million) are sole-person, and that number is growing. Over the past 40 years, the number of sole-person households has nearly doubled, and that’s a trend that’s expected to continue. According to Freddie Mac: “Our calculation suggests that there will be an additional 5 million sole-person households in the United States by the next decade. This means 42% of the household growth...

How To Think Strategically as a Buyer in Today’s Market

Written by Gulf Breeze Mortgage Syndicated User on December 1, 2021. Posted in Buying Myths, First Time Home Buyers, For Buyers, Gulf Breeze Mortgage, Mortgage Gulf Breeze, Move-Up Buyers.

The game of chess can provide incredible lessons to apply to all aspects of life, including the homebuying process. Chess requires you to plan and think about your strategy from the very beginning of the game. The homebuying process, like chess, requires strategy and planning. Here are a few things to keep in mind to ensure your plan is as strong as possible when you begin your home search. Pre-Approval: the Best Opening Play To Make as a Homebuyer It’s important to have a great opening play when you’re buying a home. And the best move you can make when you begin your home search is getting...

How Smart Buyers Are Approaching Rising Mortgage Rates

Written by Gulf Breeze Mortgage Syndicated User on November 24, 2021. Posted in Buying Myths, First Time Home Buyers, For Buyers, Gulf Breeze Mortgage, Interest Rates, Mortgage Gulf Breeze, Move-Up Buyers.

Last week, the average 30-year fixed mortgage rate from Freddie Mac inched up to 3.1%, and experts project rates will continue rising through 2022: “The 30-year fixed-rate mortgage was 2.9% in the third quarter of 2021. We forecast mortgage rates to increase slightly through the remainder of the year and reach 3.0%, rising to 3.5% for full year 2022.” If you’re thinking of buying a home, here are a few things to keep in mind so you can succeed even as mortgage rates rise. Taking Time Off Can Be Costly Mortgage rates play a significant role in your home search. As rates go up, your monthly...

VA Loans: Helping Veterans Achieve Their Homeownership Dreams

Written by Gulf Breeze Mortgage Syndicated User on November 11, 2021. Posted in Buying Myths, Down Payments, For Buyers, Gulf Breeze Mortgage, Mortgage Gulf Breeze, 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...

Category: Buying Myths