Mortgage Advice

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Mandy Phillips

Mortgage marketing

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The 1 percent rule is a good standard because it's so easy to remember. Just put aside 1 percent of the total purchase price of your home for home maintenance repairs. A $250,000 home would require you to save $2,500 annually, or about $209 per month. Remember this is a rough estimate that doesn’t consider labor costs or materials, and other factors can contribute to this base price. It is a great starting place to ensure any unexpected expenses can be taken care of without stress.

So you’re getting ready to buy a house. Congratulations! Before you start picking out decor, there’s something you need to consider: Is your budget ready to handle monthly mortgage payments? If you’re not buying with cash, this is an important question to ask. Knowing what can be included in a monthly mortgage payment and how much home you can actually afford are key steps to finding a home that will fit your long-term goals. To get a better grip on what you’re paying, why you’re paying it,...

Home Loans

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a white background with the words 5 tips for determining your budget for buying a home

Understanding your budget for buying a home involves several key steps. Here’s how to go about it: 1. Assess your financial situation! What is your total income, expenses, and savings. 2. Determine your debt-to-income ratio. This is the gross monthly income that goes towards paying debts. The typical goal is 36% or lower. 3. Get pre-approved for a mortgage. This gives you an estimate of how much you can borrow based on your financial profile 4. Calculate your down payment and factor in c...

a white couch sitting in front of a window with the words did you know?

The 1 percent rule is a good standard because it's so easy to remember. Just put aside 1 percent of the total purchase price of your home for home maintenance repairs. A $250,000 home would require you to save $2,500 annually, or about $209 per month. Remember this is a rough estimate that doesn’t consider labor costs or materials, and other factors can contribute to this base price. It is a great starting place to ensure any unexpected expenses can be taken care of without stress.

Homeowners Association

So you’re getting ready to buy a house. Congratulations! Before you start picking out decor, there’s something you need to consider: Is your budget ready to handle monthly mortgage payments? If you’re not buying with cash, this is an important question to ask. Knowing what can be included in a monthly mortgage payment and how much home you can actually afford are key steps to finding a home that will fit your long-term goals. To get a better grip on what you’re paying, why you’re paying it,...

a realtor's guide to selling your home in the next few years, including what do i need to get my home ready?

Getting your house ready to sell involves a combination of cleaning, repairing, and staging to make it as appealing as possible to potential buyers. Here’s a checklist to help you prepare your home for the market: 1. Clean and Declutter 2. Make Necessary Repairs 3. Enhance Curb Appeal 4. Stage the Home As Needed 5. Set the Right Price 6. Prepare for Showings 7. Work with Professionals By following these steps, you can enhance your home’s appeal, attract potential buyers, and potentially ac...

a house with the words did you know? and an arrow pointing up to it

Curb appeal is crucial for several reasons, particularly when it comes to selling a home: 1. First Impressions: Curb appeal is the first impression potential buyers have of a property. A well-maintained exterior can create a positive initial impact, making the home more attractive and inviting. 2. Increased Value: Homes with strong curb appeal often have higher perceived value. Buyers are willing to pay more for a property that looks well-cared-for from the outside, as it suggests that the ...

Successfully managing the sale of your current home and the purchase of a new one requires careful planning and coordination. By understanding these aspects and seeking professional help, you can make the process smoother and less stressful. Know that you’re not alone: 71% of buyers are also, simultaneously, sellers. The key to success on both ends of the deal is having a realtor to guide you through. If you’re feeling overwhelmed or uncertain, the best thing to do is to talk to a pro who can... Feelings, The Key To Success, Professional Help, Key To Success, The Deal, Good Things, Key

Successfully managing the sale of your current home and the purchase of a new one requires careful planning and coordination. By understanding these aspects and seeking professional help, you can make the process smoother and less stressful. Know that you’re not alone: 71% of buyers are also, simultaneously, sellers. The key to success on both ends of the deal is having a realtor to guide you through. If you’re feeling overwhelmed or uncertain, the best thing to do is to talk to a pro who can...

there's why you shouldn't skip the home inspection text on a white background

Skipping a home inspection can be risky for several reasons. Home inspections reveal potential problems that may not be visible during a casual walkthrough. This can include structural issues, electrical or plumbing problems, and issues with the roof or foundation. Identifying issues before purchasing helps you avoid unexpected repair costs. If major problems are found, you might be able to negotiate repairs or a lower purchase price with the seller. Overall, a home inspection is a crucial st...

Preparing your kids for a big move can help ease the transition and minimize stress. Here are some tips to help your children adjust to the change: • Communicate Early: Let your kids know about the move as early as possible. Use age-appropriate language to explain why you’re moving and what they can expect. This helps them process the information gradually. • Involve Them in the Process: Give your children a sense of control by involving them in the moving process. Let them help with pack...

a blue chair sitting in front of a white closet

Home buyers often place a high value on storage for several reason. Ample storage helps keep a home organized, reducing clutter and making it easier to find and access items. Buyers appreciate the ability to neatly store personal belongings, which enhances the home's overall functionality and appeal. Good storage solutions maximize the use of available space. Features like walk-in closets, built-in shelves, and cabinets make a home feel more spacious and efficient, which is particularly appea...

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Buying A Home

Buying Process

Best Investments

Real Estate Professionals

Check In

The Internet

There are several myths about buying a home that can mislead prospective buyers. Some of the most common are listed here. While the internet is a great source of information, it will always serve in your best interest to check in with real estate professionals when you aren’t sure. Being aware of these myths can help you make more informed decisions and avoid common pitfalls in the home-buying process.

a table with two chairs and a plant on it

The time it takes for a home buyer to find a house can vary widely depending on several factors. These can include market conditions, location, price range, and certain personal circumstances. On average, in a balanced market, buyers might find a home within a few weeks to a few months. In highly competitive markets, it might take longer as buyers need to act quickly and may face multiple offers on desirable properties. It’s also not uncommon for buyers to take several months or even over a y...

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Re A

Period

An expired listing isn’t entirely unusual, and some properties may go through more than one listing period before selling. If you’re a seller, an expired listing can be an opportunity to reassess and refine your approach to getting your home sold. If the property is re-listed, there will be a review of feedback from the previous listing period and suggested changes to improve the property’s appeal or pricing. An expired listing often prompts a reassessment of the property’s value and strateg...

Lenders use your credit score to assess your creditworthiness. A higher credit score indicates to lenders that you are more likely to repay your loan on time. This can improve your chances of getting approved for a mortgage. Generally, borrowers with higher credit scores qualify for lower interest rates, which can save you thousands of dollars over the life of the loan. By understanding the role of your credit score and taking steps to maintain or improve it, you can enhance your ability to q...

an email message with the words reminder written in black and white, on a light gray background

Getting final loan approval means you need to keep your finances and credit in line during the underwriting phase. Don’t open new credit lines or make any major purchases until the paperwork is signed, and avoid changing jobs before closing too, if possible.

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