Today’s rising home prices have some home buyers hesitant, especially first-time home buyers. However, home prices are not the only things that are rising. Rents are also reaching astronomical levels. In fact, rents are surging faster than home prices in many markets. The reality is that for many it is more affordable to buy a house than rent.

Owning a home is a fundamental component of the American dream. It gives you a place to make long term memories with those you love. It is also one of the best ways to build wealth for you and future generations. There is no reason you should let your credit score get in the way of you buying a house or refinancing your current mortgage.

Not everyone wants to a own a multi-unit property. Not everyone dreams of using real estate as an investment vehicle. However, for those that do, it is worth looking into whether it makes sense to buy a multi-family home first and then consider a single-family home later down the road.

Potential home buyers should be excited by the above data because it looks like more houses will be available on the market in 2022 than last year. This means less bidding wars, a greater chance of finding the perfect house, and possibly an end to skyrocketing prices. The best way to take advantage of this is to be prepared and that means speaking with a mortgage broker.

Dr. King, Jr. rearticulated the American dream to include this promise of equality for all throughout his works and speeches, including his “I Have a Dream” speech. There is a lot we must still do to make his dream and the American dream a reality for all Americans. One small aspect of that is that we need to make sure that everyone can be a homeowner.

A large wave of foreclosures is extremely unlikely. Homeowners have several options when it comes to dealing with their forbearances, and many homeowners have already dealt with their loans. Any foreclosures will not be commonplace, and both buyers and sellers should be confident the real estate market.

There are a lot of aspects to a home buying budget. An important thing to consider regarding home buying budgets is that it’s not necessarily a single budget. While some people are able to buy a house using entirely cash, most people need a mortgage. This means that you need to budget for what it takes to get a mortgage.

Recent studies conducted by Fannie Mae show that many consumers wish they had more education about how to become a homeowner. At Peoples Choice Mortgage, we definitely agree. The home buying process is complicated and education often means the difference between just any old mortgage broker and a true professional.

The bottom line is that 2022 is lining up great for home buyers. Rates will increase, but will still be at an extreme discount compared to historical rates. At the same time, inventory will increase which will mean that it is easier to buy a home without as many bidding wars. This is great news for home buyers. If you want to stop renting and become a homeowner, 2022 is a great year for it.

As we end 2021, it’s important for future home buyers to prepare for the future. We want to make the process easy for you, which is why we broke down these resolutions into three steps. Just know that you don’t have to go through the steps all by yourself. The independent mortgage brokers at People’s Choice Mortgage are here to help you with every step of the process.

Many first-time home buyers assume that once you get pre-qualified for a mortgage that it is all smooth sailing from there. However, the truth is that there is a lot that can happen between pre-qualification and the closing table that can jeopardize your mortgage. The time between pre-qualification and closing is crucial because lenders are still underwriting the home loan.

This winter home buyers are finding themselves in a favorable market. Market rates are still very low, which means that home buyers will save money over the life of a mortgage. At the same time, inventory is about to improve, which means that home prices will level off. Home buyers should take advantage of these conditions before mortgage rates rise.

Back in January, President Biden pushed for a first-time homebuyer tax credit of $15,000. Since then, this recommendation has become its own legislation, the First-Time Homebuyer Act of 2021. Should first-time homebuyers wait for this legislation before buying?

Buying a house at today’s prices means that you benefit from tomorrow’s rising prices. On top of that, the likelihood of rising mortgage rates means your mortgage will be more expensive. Today’s real estate market is thriving all over the nation, but especially in Boston.

The FHFA’s recent decision to raise conforming loan limits is both expected and unprecedented all at the same time. Typically, conforming loan limits are raised each year. However, this usually happens in small amounts to keep up with the cost of living and appreciation. The limit increase for 2022 is much larger than ever before.

The pandemic changed how people thought about their homes and what they wanted in a house. Many of these changes will remain with us long after the virus is gone. The team at Peoples Choice Mortgage is here to look at some of the pandemic home buying trends that have some staying power.

Owning a home is a fundamental component of the American dream. It gives you a place to make long term memories with those you love. It is also one of the best ways to build wealth for you and future generations. There is no reason you should let your credit score get in the way of you buying a house or refinancing your current mortgage.

When the pandemic first made it to America we all thought that it would be here for a few weeks and then life would be back to normal. Over eighteen months later and we are not back to normal. On top of that, new variants like Delta and Omicron keep popping up and changing the course of the pandemic in ways many would not have predicted. As the pandemic changes, so do our public health responses and so does the economy, along with the real estate market.

Today’s real estate market is difficult for home buyers, with COVID-19 changing how we buy homes. Homes available for purchase are limited and there are a lot more buyers than homes on the market. Remember, difficult is not the same as impossible. It just means that you cannot expect to be able to buy a house just because you put in an offer. You will need the patience to succeed in this market.

A new program that was just announced by one of our leading lenders might allow you to kiss mortgage insurance goodbye. This program is unique because it does not require you to pay for mortgage insurance if you put down a ten percent down payment. Not having to carry mortgage insurance for a ten percent down payment is nearly unheard for a traditional mortgage.