If you are a first-time homebuyer, you are in for an adventure. There will be days you wake up with a hundred questions—and you can certainly expect plenty of surprises along the way. Going into the process, it is best to do as much research as you can so you understand what to expect. Here are 4 things nobody tells you about buying your first home and getting your first mortgage. 1. You … [Read more...]
What Are “Incurable Defects” in a Home?
When you are thinking about purchasing a home, you need to consider its value and the numerous factors which will affect it both now and in the future. There is no other way to be sure you are making a sound investment. Many defects can be repaired (problems with a roof for example, or an unfinished basement). But there are some defects which are referred to as “incurable” in the real estate … [Read more...]
What Is the Actual cost of Buying a Home?
The first time you think about buying a home, you probably think of the costs in terms of a mortgage. You realize that cannot be the only cost, but it still may be the benchmark in your mind for what you can afford. You look up local mortgage rates in your area, and think, “I actually could pay that off in X years.” But, there are a lot of different costs associated with purchasing a home. So, … [Read more...]
Answers to Commonly Asked Questions About Homeowner’s Insurance
You cannot drive a car without automotive insurance; it is a legal requirement. But what about owning a home? Do you need to insure that? For many new homebuyers, the topic of homeowner’s insurance is a confusing one. You may wonder whether homeowner’s insurance is a legal requirement. You may also wonder what it is needed for and whether it is important. Let’s answer some of the most frequent … [Read more...]
Should You Get a Fixed or Adjustable Mortgage Rate?
There are many financial considerations you will need to weigh when you are applying for a Phoenix, AZ home loan. One of the many questions you will need to answer is this: Should you get an adjustable rate mortgage (ARM), or should you stick with a fixed interest rate? What is a Fixed Mortgage Rate? A fixed interest rate mortgage is one which is predictable. The interest rate at the start of … [Read more...]
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