According to Fannie Mae, 90% of buyers either overestimate the credit score needed to buy a home or don’t know what lenders are actually looking for. That means many potential buyers assume their credit score isn’t good enough, and that can create unnecessary fear or delay. But in reality, the credit score to buy a […]
If you’ve been putting off buying a home in the Triangle area because you thought qualifying would be too difficult, there’s good news: learning how to qualify for a mortgage is becoming a bit easier—without returning to the risky lending practices of the past. Lenders are loosening up slightly for well-qualified buyers, opening the door […]
Have you been keeping an eye on mortgage rates lately? One day they dip, the next they climb again. It’s no wonder so many Triangle area buyers feel unsure about when to jump into the market. The graph below, based on Mortgage News Daily data, shows just how much rates have fluctuated in April—especially compared […]
If you’re a first-time homebuyer in Raleigh, saving up to purchase a home in the Triangle area can feel overwhelming—especially if you think you need to put 20% down. But here’s the good news: that 20% figure is a myth for most buyers. Do You Really Need 20% Down To Buy a Home? Unless your […]
Did you know that almost 80% of first-time homebuyers qualify for down payment assistance, but only 13% take advantage of it? If you’re planning to buy a home, this is a gap worth closing—quickly (see graph below): Here’s what you need to know to make the most of your down payment in today’s housing market. […]
Since the supply of homes for sale is growing and mortgage rates are coming down, you may be thinking it’s finally your moment to jump into the market. To make sure you’re ready, you need to get pre-approved for a mortgage. That’s when a lender looks at your finances, including things like your W-2, tax […]
When you’re ready to buy a home in Raleigh, it’s crucial to plan for all the associated costs, not just the down payment. A significant part of your expenses will be the closing costs. Here’s a comprehensive look at what these costs entail and how you can manage them effectively. What Are Closing Costs? Closing […]