As a dog owner, you likely place your pup’s needs right up there with your own. If this is the case, then choosing a new home shouldn’t be an exception. In fact, several studies show that people are placing more and more importance on the happiness and safety of their dogs when it comes to home buying. An article by Time cites a study conducted by SunTrust Mortgage that found that one-third of millennials purchased homes strictly based on their pet ownership.
When purchasing a home with your dog in mind, there are a few factors to remember. In addition to finding a home with enough [...]
We’ve reimagined real estate search with the NEW Homes.com. You can find your perfect home, in the style you love, in the communities you desire, and at the price you need, all while sharing your home search journey with the people you care about most. Check out how Homes.com makes home search simpler than ever with these new features:Homes.com Match
Your personalized homes search tool provides a smarter way to find your ideal first or next home. Just tell us which amenities are “must have” and which are “nice to have” and listings will be assigned a “Match” score based on those parameters. Easily see the homes that best match you by [...]
Lenders use three criteria to decide whether or not to approve a mortgage application. Borrowers must meet minimum standards for credit scores, loan-to-value ratios (LTVs) and debt-to-income ratios (DTIs) in order to be approved. Minimum standards vary by the type of mortgage in which you are applying for and by the lender.
Over the past three years, mortgage lenders have been slowly loosening their standards for mortgages. Understanding the reasons for this trend and the differences among different loan types will help today’s borrowers understand their options.Credit scores, LTVs, and DTIs
The most widely discussed lending standards are FICO scores, the credit [...]
Comps. They’re the one thing that can cause a seller some tense moments as they work with their real estate agent to come up with a price for their home. ‘Comps’ is actually the shortened version of comparisons. Basically, they’re the prices of homes sold in your area in the past 3-6 months. While the concept of a comp is pretty easy to understand, that doesn’t mean that comps are without nuances.
There are several things you need to keep in mind as you use comps to set the price for your home or, in the case of a buyer, use comps to determine whether a home’s price is fair.Comps, CMAs, and Why They’re Important
A CMA is a [...]
The term “mortgage” is a 13th century Middle English word imported from Anglo-French: “mort” is French for death, and “gage” means pledge in Latin. In early Anglo-Norman law, property pledged as security for a loan was usually held by the creditor who could farm it and sell the proceeds — a sneaky form of interest in an era when lending for profit was considered a form of sinful usury. When the debtor finally couldn’t stand watching his wealthy creditor get even richer off his mortgaged land, he found a way to pay off the debt. If he couldn’t find the cash by the time he died, the land would become the creditor’s. Hence the name [...]
A lot of factors affect the homebuying decision. No matter where you choose to move, you want to be comfortable, right? Determining an area’s housing affordability is important information to arm yourself with during the beginning stages of your home buying search. The expenses incurred after the purchase of your home don’t end when you move in, you’ll be responsible for utilities, taxes, and the upkeep of your home. Are your pockets crinkling at the thought of all the expenses? Don’t worry, according to U.S. News and World Report, these are the cities with the best housing affordability. If you’re in the market for a new home, finding one in any of [...]