If you are one of those people who have been thinking about buying a home, but haven’t acted on it, it is time to stop delaying. Waiting any longer to buy a new home can cost you significant money in the short term and long term.

A combination of forbearance extensions, foreclosure moratoriums and increased demand for home purchases led to a housing boom instead of a market crash. Home prices increased across the United States in 2020. This has some asking whether or not we are in the midst of a real estate market bubble.

The ways in which mortgages are applied for, serviced and even terminated have been updated to accommodate the needs of the pandemic. In fact, things are still changing. The team at Peoples Choice Mortgage is here to look at how the mortgage process has adapted to the pandemic.

A lot of people have this false belief that owning a home is never possible because of the wealth disparity between homeowners and renters. However, this disparity is misleading. The reason why this disparity exists is not because only those with wealth can buy homes. The truth is you build wealth through homeownership.

Second homes and investment properties are not the same. They serve different functions and applying for a mortgage on a second home is different than an investment property. What are the differences between them in terms of their function and the mortgage process to buy them?

Rock bottom mortgage rates fueled a real estate boom and higher home prices. What will happen to home prices for the rest of 2021?

One source of confusion when it comes to buying a home or selling a home is all the different outside people you need to evaluate your house. Do you need an appraisal and an inspection? Are they the same thing? What is the difference? The team at Peoples Choice Mortgage is here to clear up the confusion and give you some answers.

Anticipating a brighter economic future, interest rates and thus mortgage rates have begun to increase. In an effort to avoid missing out on mortgage rates that are still near historic lows, many are applying for home loans right now. However, just because you have completed your application or have even received an approval, it doesn’t mean you’re out of the woods, yet. There are still some things you shouldn’t do after your mortgage application.

Low mortgage rates made 2020 great for homeowners in another respect. It presented the opportunity to refinance their mortgages. Where does the refinance market stand in the beginning of 2021?

The changing needs placed on homeowners by the pandemic has caused home buyers to want more room for themselves to work from home, school from home, and exercise from home. Also, more and more home buyers were living with more people. One of the biggest trends of 2020 that will probably continue through this year is the rise in the number of multigenerational homes.

Home sales were up for nearly every market in the nation, including Massachusetts. However, for everyone who bought the house of their dreams, there were just as many wishing they could do the same. That begs the question: why didn’t they? Many people have been sitting on the sidelines because they don’t think they are able to buy a house. However, buying a home isn’t just for the wealthy. Regular people can buy homes too. Here’s how to make it happen ...

2020 is almost done and it is time to set resolutions for 2021. For some, that means taking advantage of historically low mortgage rates and buying a new home. If this applies to you, then the team at Peoples Choice Mortgage have the perfect resolutions to help you buy a new home in 2021.

Getting a mortgage and buying your home only helps your family if you make sure it is protected during your lifetime and beyond. That’s why it’s important to think about how insurance can help you and your family keep your home when tragedy strikes.

Don’t let your lender be a grinch and take away your chance of a new home at the last minute. One of the biggest hidden dangers for those in the middle of applying for a mortgage is making large cash deposits. The team at Peoples Choice Mortgage is here to explain why a large influx of cash during the holidays isn’t necessarily good for your mortgage application.

Many Americans are already behind on their rent and mortgages. In fact, about 3 million Americans already have their mortgage in forbearance. With the pandemic getting worse and not enough stimulus on the way, there’s a good chance that many more will fall behind. If you or someone you know are facing hardship and risk falling behind on your payment, help is available. You have the ability to apply for forbearance for your mortgage, but time is of the essence. Here is what you need to know…

The pandemic has overshadowed everything and the most normal thing about 2020 is the consensus that this year has been abnormal. In fact, a lot of it has been downright horrible. Hundreds of thousands of Americans have lost their lives. Millions of Americans have lost their jobs. Plans have been cancelled and dreams have been deferred. However, while it is impossible to downplay the tragedy of these events, there have been some silver linings to 2020. The team at Peoples Choice Mortgage is here to take an accounting of 2020 and look at the good, the bad, and everything in between.

Some people are assuming that they do not have a high enough credit score to qualify for a mortgage. The good news is that mortgage rates should remain low for the foreseeable future. This gives everyone with less than perfect credit a chance to pursue credit enhancement strategies and still take advantage of low mortgage rates. If you are in this group and need to enhance your credit score, do not fall into the trap of thinking that you should close accounts. When it comes to enhancing your credit score, less is not always more.

Anything this important deserves to be protected properly. That is why homeowners insurance is important. Life is complex and unpredictable. Things go wrong unexpectedly, and when they do, you need to be prepared to fix them. Homeowners insurance helps make you whole if you experience a loss. But, if your coverage is not up to date, then you can be left in a world of financial hurt. Here are some things to consider to make sure your home has the proper coverage.

As we come to the end of 2020 many are wondering what will be in store for the real estate market in 2021. Will the crash that everyone expected in 2020 finally happen? Or, will people continue to buy homes in droves and take advantage of historically low mortgage rates? While nobody has a crystal ball and it is impossible to be absolutely certain, there are some good indicators that 2021 is poised for a housing boom.

Many feared that the economic slowdown due to the pandemic would result in a real estate crash like 2008. Instead, home sales have dramatically increased and so have home prices thanks to historically low mortgage rates. However, with many places considering stricter lockdowns to control the coronavirus it is reasonable to wonder if the red hot housing market can be sustained. Can surging home sales withstand a surging pandemic? We think it can.