Featured photo credit: https://www.nationalguard.com/careers/ground-forces The VA loan is one of the most powerful home buying tools available to those who qualify. A few benefits of the VA home loan are an option for ZERO down payment, no Private Mortgage Insurance, and lenient credit qualifications. There are specific criteria to qualify for the VA home loan, …
With mortgage interest rates at a level not seen for over a decade (see chart below), the question of whether to wait for interest rates to fall is creeping in. This is not unreasonable, however, it does beg the question. Are rates actually high? If you take a look at the chart below, you can …
Housing inventory is one of the factors that can dramatically affect the temperature of the real estate market. Less inventory means potentially more competition and higher prices. Whether you’re a buyer or currently in the seller market, this can determine your strategy. Like most investments or assets, housing inventory can fluctuate anytime. This is why …
What do you do when you move away in process of buying a home during a worldwide pandemic, finding yourself in a hotel which you can't leave? Benchmark never quits.
Have you told yourself that you’re too _____ to buy a home? The blank could be almost anything. Whether you think you’re too broke, too poor, or your credit score is too low, are you allowing an invisible script to prevent you from attaining your dream of owning your own home? Just a side note: …
The current market is not the same one that existed only three months ago. Open houses are not as “open” as they were, and COVID 19 has impacted every aspect of the real estate market. We got with JD Tomlin, a realtor with the JD Tomlin Team (est. 2010) in the DFW area, to discuss …
It’s no secret that realtors work hard to create a great home finding process for their clients. For top notch realtors, this has not really changed. Restrictions have been put in place to ensure that visiting homes is done safely, and inline with the CDC’s recommendations. When home sellers have multiple people wanting to look at the house, Realtors will often try to access the house without their clients, providing a walk-through video, as well taking note of things the homebuyer may want to know about. This requires a lot of trust in your realtor partner, and borrowers may need to be ready to potentially purchase a house without actually stepping foot inside of it.
Home inventory helps predict whether it’s a “Seller’s Market” or a “Buyer’s Market.” When there are too many houses for sale, the buyer has the advantage. When there are not enough houses, sellers have the advantage. Home inventory changes based on location, so good advice in one city, may be harmful in another. No matter what inventory level your area is seeing, the important thing to note is that houses are still selling, people are still moving, and you can too! Ask your local Benchmark Loan Officer to connect you with one of their trusted realtor partners to get started today!
The team you work with matters! The industry has changed a lot, and working with an expert who can navigate the changing guidelines is more important than ever. Lenders today are dealing with constraints that have taxed the entire industry with challenges, including long wait times on appraisals. In some cases, some lenders are just not sending funds to close their loans. Ultimately, how long is the home buying process taking? Overall, transaction times haven’t changed very much. Benchmark has a team dedicated to making sure loans close quickly, efficiently, and on time.
If you are looking for your first, or next, home, you will likely tour several before finding "the one." Before you let yourself be swept off your feet, stay grounded and take a closer look. While you will want to get a professional inspection, it's a good idea to get a good idea on your own. Doing so may save the cost of a professional, if significant issues are discovered, or if the home needs more work than you are willing to take on.
