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Author: Key Largo Mortgage Syndicated User

The Benefits of Using Your Equity To Make a Bigger Down Payment

Written by Key Largo Mortgage Syndicated User on . Posted in Affordability, Equity, For Buyers, Home Prices, Key Largo Mortgage, Key Largo Mortgage Rates, Mortgage Rates.

Did you know? Homeowners are often able to put more money down when they buy their next home. That’s because, once they sell, they can use the equity they have in their current house toward their next down payment. And it’s why as home equity reaches a new height, the median down payment has too. According to the latest data from Redfin, the typical down payment for U.S. homebuyers is $67,500—that’s nearly 15% more than last year, and the highest on record (see graph below): Here’s why equity makes this possible. Over the past five years, home prices have increased significantly, which has...

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Why an Agent Is Essential When Buying a Newly Built Home

Written by Key Largo Mortgage Syndicated User on . Posted in Agent Value, Buying Tips, For Buyers, Key Largo Mortgage, Key Largo Mortgage Rates.

For some buyers, there’s a misconception that newly built homes aren’t made to last or fall short of the quality you can find in older homes. Unfortunately, this is turning some buyers away from what may be one of their best options in today’s housing market. As Builder Online says: “As resale inventory remains limited and the price spread between new and resale homes narrows, new homes are increasingly an attractive value proposition for buyers, with incentives such as rate buydowns a way to help address ongoing affordability challenges.” So, is there any merit to the myth? Let’s break...

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Florida Mortgage | Reasons To Move in Today’s Shifting Market

Written by Key Largo Mortgage Syndicated User on . Posted in Key Largo Mortgage, Key Largo Mortgage Rates.

Reasons To Move in Today’s Shifting Market | You have 3 key opportunities if you’re looking to move this fall. Inventory is growing, homebuilders are motivated to sell, and mortgage rates have come down from their recent peak. Let’s connect if you want more information. NMLS ID 1834853 #floridamortgage #floridamortgagerates #floridamortgagecompany

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Why a Condo Could Be Your Perfect First Home

Written by Key Largo Mortgage Syndicated User on . Posted in For Buyers, Key Largo Mortgage, Key Largo Mortgage Rates.

If you’re looking to break into homeownership but the price of single-family homes has you second-guessing, you might want to consider a condominium (condo) or townhome. These types of homes often come with a lower barrier to entry – and that can help you start to build equity and enjoy the benefits of owning a home sooner. Since they’re usually smaller than single-family homes, they can be easier on your wallet. While it’s not always the case, smaller square footage usually comes with a smaller price tag too. As a result, according to the latest data from Realtor.com, condos...

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Florida Mortgage | Home Inspections for Sellers: How To Prepare

Written by Key Largo Mortgage Syndicated User on . Posted in Key Largo Mortgage, Key Largo Mortgage Rates.

Home Inspections for Sellers: How To Prepare | Wondering how to get your house ready for the inspection? You may want to do some select repairs before listing to get ahead. To decide what’s worth tackling, you need expert advice. Let’s chat so you know what to prioritize. NMLS ID 1834853 #floridamortgage #floridamortgagerates #floridamortgagecompany

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Buying Beats Renting in These Top Cities

Written by Key Largo Mortgage Syndicated User on . Posted in For Buyers, Infographics, Key Largo Mortgage, Key Largo Mortgage Rates, Rent vs. Buy.

Some Highlights Based on a recent study, in 22 of the top 50 metros, the monthly mortgage payment is lower than the rent payment. Make sure you work with a pro who can help you crunch the numbers and see how your city stacks up.  This may be your opportunity to forget renting for good. If you want to see which option makes the most sense in your area, connect with a local agent.

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Florida Mortgage | Buy Now, or Wait?

Written by Key Largo Mortgage Syndicated User on . Posted in Key Largo Mortgage, Key Largo Mortgage Rates.

Buy Now, or Wait? | You may be tempted to wait until mortgage rates come down even more. But here’s what you need to know. If you wait, you’ll have to compete with all those other people when you go to buy your next home. You have a chance to get ahead of the other buyers right now. Let’s connect and make it happen. NMLS ID 1834853 #floridamortgage #floridamortgagerates #floridamortgagecompany

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How Much Does It Cost To Sell My House?

Written by Key Largo Mortgage Syndicated User on . Posted in Agent Value, For Sellers, Key Largo Mortgage, Key Largo Mortgage Rates, Selling Tips.

If you’re toying with the idea of selling your house, you’re probably wondering how much it’ll cost. To be honest, the final number will depend on several factors like the offer you accept, if you help with your buyer’s closing costs, how many repairs you tackle, and more. So, to give you a ballpark of what to expect, here’s some information on a few of the expenses you’ll want to be ready for (see graph below): But here’s something that puts those costs into perspective. Most homeowners today have a substantial amount of equity built up in their homes, and that means they stand to make...

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Two Reasons Why the Housing Market Won’t Crash

Written by Key Largo Mortgage Syndicated User on . Posted in Economy, Inventory, Key Largo Mortgage, Key Largo Mortgage Rates.

You may have heard chatter recently about the economy and talk about a possible recession. It’s no surprise that kind of noise gets some people worried about a housing market crash. Maybe you’re one of them. But here’s the good news – there’s no need to panic. The housing market is not set up for a crash right now. Real estate journalist Michele Lerner says: “A housing market crash happens when home values plummet due to a lack of demand for homes or an oversupply.” With that definition in mind, here are two reasons why this just isn’t on the horizon. 1. Demand for Homes Is Higher...

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Why Now’s Not the Time To Take Your House Off the Market

Written by Key Largo Mortgage Syndicated User on . Posted in For Sellers, Key Largo Mortgage, Key Largo Mortgage Rates, Selling Tips.

Has your house been sitting on the market longer than expected? If so, you’re bound to be frustrated by now. Maybe you’re even thinking it’s time to pull the listing and wait to see what 2025 brings. But what you may not realize is, the decision to hold off could actually cost you. Here’s a look at why staying the course could be the smarter move. Other Sellers Are Pulling Back. Should You Hold Off Too? According to recent data from Altos Research, the number of withdrawals is increasing – that means more sellers are opting to pull their listings off the market right now. And this isn’t...

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