What is Earnest Money? Earnest money is "Good Faith" money that show's your intent to purchase a home. Typically, homebuyers earnest money will be 1-2% of the purchase price. This is money that could be lost if the buyer defaults on the purchase contract. However, if they uphold their end of the contract, it will go towards … [Read more...] about What is Earnest Money?
First Time Home Buyers
Tips for First Time Home Buyers
Don't Make any Major Purchases Prior to Buying a Home As we have learned from the book "Rich Dad, Poor Dad" there are good debts and bad debts. When it comes to buying your first home, a mortgage is a good debt. Think about prioritizing purchases on appreciating asset over purchases that are depreciating liabilities. It's a … [Read more...] about Tips for First Time Home Buyers
How much Home can I Afford?
Have you talked with a Lender yet? If it's not, you SHOULD. Looking at homes online is merely a dream, and if you're serious about wanting to purchase a home, you first need to get your financing in order. There are numerous reasons as to why. Here are my top five reasons to start with a lender. 5. What if the payment you … [Read more...] about How much Home can I Afford?
10 Things You Should Know BEFORE Buying a Home
So, you’re ready to buy a home! As you gear up for this exciting time in your life, you have probably been told the basics–things like getting pre-approved for financing or not being too critical over cosmetic issues you can easily fixed. But what about those other things–the ones no one ever tells you about, but you ultimately … [Read more...] about 10 Things You Should Know BEFORE Buying a Home
Changing Jobs and the Effects it has on Buying a Home
For most people, changing employers will not impact the ability to qualify for a mortgage loan, especially if you are going to be earning more money. For some homebuyers, however, the effects of changing jobs can spell disaster when it comes to your loan application. Make sure you discuss in great detail with your lender and … [Read more...] about Changing Jobs and the Effects it has on Buying a Home