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Category: For Buyers

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Balancing Your Wants and Needs as a Homebuyer Today

Written by Hutchinson Island Mortgage Syndicated User on . Posted in First Time Home Buyers, For Buyers, Hutchinson Island Condo Financing, Hutchinson Island Mortgage, Hutchinson Island Mortgage Rates, Move-Up Buyers.

Since the number of homes for sale is low today, it can feel challenging to find one that checks all your boxes. But if you know which features are absolutely essential in your next home and which ones are just nice bonuses, you can land a home that fits your needs. Danielle Hale, Chief Economist for realtor.com, explains it like this: “Focus on the goal you set out for yourself, like your list of must-haves and nice-to-haves and your budget, . . . Stick to that. Be persistent.” So how do you go about creating your list of desired features? The first step is to get pre-approved for your mortgage....

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What You Need To Budget for When Buying a Home

Written by Hutchinson Island Mortgage Syndicated User on . Posted in Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Hutchinson Island Condo Financing, Hutchinson Island Mortgage, Hutchinson Island Mortgage Rates, Move-Up Buyers.

When it comes to buying a home, it can feel a bit intimidating to know how much you need to save and where to find that information. But you should know, you’re not expected to have all the answers yourself. There are many trusted professionals who can help you understand your finances and what you’ll need to budget for throughout the process. To get you started, here are a few things experts say you should plan for along the way. 1. Down Payment As you set your savings goal for your purchase, your down payment is likely already top of mind. And, like many other people, you may believe you...

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Remote Work Trends Mean Flexibility for First-Time Homebuyers

Written by Hutchinson Island Mortgage Syndicated User on . Posted in First Time Home Buyers, For Buyers, Hutchinson Island Condo Financing, Hutchinson Island Mortgage, Hutchinson Island Mortgage Rates.

Today’s low inventory can be challenging for homebuyers, especially if you’re looking to purchase your first home. But if you’re one of many people who work remotely, you may have a great opportunity to use the flexibility you have at work to achieve your homebuying goals this year. In a recent report, Arch Capital Services explains how the ongoing trend of remote work can open up more options for homebuyers: “. . . This will enable those who are able to work from home on a part-time or hybrid basis to move slightly farther away from job centers. . . . For workers who secure full-time remote...

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What’s Happening with Mortgage Rates, and Where Will They Go from Here?

Written by Hutchinson Island Mortgage Syndicated User on . Posted in For Buyers, Housing Market Updates, Hutchinson Island Condo Financing, Hutchinson Island Mortgage, Hutchinson Island Mortgage Rates, Interest Rates, Pricing.

Based on the Primary Mortgage Market Survey from Freddie Mac, the average 30-year fixed-rate mortgage has increased by 1.2% (3.22% to 4.42%) since January of this year. The rate jumped by more than a quarter of a point from just a week ago. Here’s a visual to show how mortgage rate movement throughout 2021 was steady compared to the rapid increase in mortgage rates this year: Just a few months ago, Freddie Mac projected mortgage rates would average 3.6% in 2022. Earlier this month, Fannie Mae forecast mortgage rates would average 3.8% in 2022. As the chart above shows, rates have already surpassed...

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