Posted by Pamela Crawford on 3/17/2019

Let's face it – there are many risks that you may face during the homebuying journey. From submitting an offer on a house that ultimately proves to be a poor investment to failing to obtain a mortgage due to a bad credit score, there are various issues that may prevent you from achieving your desired results. Lucky for you, we're here to help you focus on the task at hand and eliminate potential risks as you search for your ideal residence.

Now, let's take a look at three tips to help you avoid risks throughout the homebuying journey.

1. Set Realistic Homebuying Expectations

How you search for a home may determine whether you are successful or unsuccessful. For example, if you evaluate houses that fall outside your price range, you may struggle to find a home that you can actually afford. On the other hand, if you establish realistic homebuying expectations from the get-go, you may be able to streamline your house search.

Think about where you want to live and how much you can afford to pay for a home. Also, you should consider home must-haves and wants. With this information at your disposal, you can avoid the risk of missing out on an opportunity to acquire a residence that matches your expectations.

2. Get a Mortgage

Getting pre-approved for a mortgage is pivotal. Because if you obtain a mortgage today, you can enter the housing market with a budget and narrow your house search accordingly. Perhaps most important, a mortgage enables you to avoid the temptation to pursue homes that be priced beyond your budget.

Consult with banks and credit unions, and you can learn about a broad array of mortgage options. Then, you can select a mortgage and kick off your search for your dream residence.

3. Work with a Real Estate Agent

Problems may arise at any point during the homebuying journey. And if you're unsure about how to address these issues, it may be tough for you to acquire your ideal residence. Fortunately, if you hire a real estate agent, you may be able to identify and address homebuying problems before they escalate.

A real estate agent understands the housing market and is happy to share his or her expertise with you. This housing market professional can teach you about the differences between a buyer's and seller's market, help you prepare a homebuying strategy and much more.

Let's not forget about the assistance that a real estate agent can provide as you get ready to submit an offer on your dream home, either. A real estate agent will help you craft a competitive homebuying proposal. Furthermore, he or she will negotiate with a seller's agent on your behalf and do everything possible to ensure you can acquire your dream residence at a budget-friendly price.

Take control of the homebuying journey – use the aforementioned tips, and you can limit risk as you search for your ideal house.




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Posted by Pamela Crawford on 3/10/2019

Buying a home tops your long-range goals list, but are you ready? As a first-time buyer, you have loads of questions and concerns. After all, a home loan is an obligation for years into the future. You want to make savvy decisions and be comfortable that you’ve negotiated the best deal. On top of that, learning all about credit scores, how to pre-qualify and the difference between pre-qualification and pre-approval. And what are options and closing costs?

Fannie Mae, the Federal National Mortgage Association (FNMA) government-sponsored enterprise (GSE) that serves the mortgage industry, knows what you need to know about buying a house. They’ve put together a course for new homebuyers called HomePath Ready Buyer Education Program.

Enroll now

The online course lets you attend from the comfort of your sofa. After completion, a “graduate” may qualify for assistance up to three percent of the closing cost of purchasing a qualified HomePath property. You won’t end up with an education loan either. Tuition is just $75, and Fannie Mae says it could even reimburse your tuition during closing on your new home. Now that’s a deal!

What you learn

Because the course design has new buyers in mind, you’ll learn to determine how much you can afford to buy and ways to figure out what home is best for you. Making the deal and learning about down-payment options will get you on your way. Finally, you’ll learn to avoid the pitfalls, and all the navigate the paperwork required to close the deal.

How long does it take?

The entire course is nine 30-minute sessions, so along with the quiz at the end (no final exam though), the total class takes about four to five hours. Designed to be intuitive and self-directed, you can work your way through the course over a few evenings, on your lunch hour, or even during your morning commute (provided you’re not the driver, of course!).

How you benefit

In addition to the three percent closing cost assistance and tuition reimbursement, your Certificate of Completion may qualify you up to take advantage of the First Look program. By giving first-time homeowners an exclusive "first look" at newly-listed foreclosed properties, this innovative program serves new home seekers and promotes neighborhood stabilization.

Fannie Mae relies on real estate professionals to follow through on the home-buying process. For more information, express your interest in the HomePath program to your real estate professional.





Posted by Pamela Crawford on 3/3/2019

Dotting the I's and crossing the T's on a home loan application may seem like a daunting task, regardless of whether you're a first-time or experienced homebuyer. However, those who know what to expect when they fill out a home loan application may be better equipped than others to obtain a home loan that matches or exceeds their expectations.

When it comes time to fill out a home loan application, you'll need to provide a variety of information, including:

1. Personal Information

Allocate the necessary time and resources to provide as much personal information as possible on your home loan application. That way, you can make it easy for a lender to create a file for all of your home loan information.

Typically, your lender will ask for your Social Security number, date of birth, current housing information and school information. Provide accurate personal information at all times, and if you're uncertain about how to answer certain questions, consult with a home loan expert for additional support.

2. Employment Information

Where have you worked, and how much have you earned while you've worked for various companies in the past? As you complete your home loan application, you'll need to provide employment information to verify your current and past employment and income.

Usually, a lender will want you to provide the names, addresses and telephone numbers for any employers over the past two years. This will allow a lender to verify employment as part of the home loan application process.

You also will need to offer copies of your two most recent pay stubs to a lender. This will enable the lender to confirm your current income.

Lastly, if you are self-employed, you likely will need to provide a lender with a profit and loss statement for the past two years.

3. Financial Information

Tax forms, bank account information and asset details are some of the key parts of the financial information section of a home loan application.

Ultimately, the financial information section helps a lender verify if you have any outstanding credit lines, rental property and much more. This information will help a lender make an informed decision about your loan application and determine how much you are eligible to receive toward the purchase of a new house.

If you ever have questions at any stage of the home loan application process, don't hesitate to reach out to a home loan expert for help. This professional will be able to offer comprehensive insights to help you complete a timely, accurate home loan application.

In addition, your real estate agent may be able to put you in touch with various lenders in your area. With this housing market professional at your side, you can learn about different lenders and find one that can help you get the right home loan.

Finalizing a home loan application may seem like an uphill struggle. But if you act as a diligent homebuyer, you should have no trouble reviewing all sections of a home loan application. And as a result, you can provide a lender with relevant information and boost your chances of getting the perfect home loan.




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Posted by Pamela Crawford on 2/24/2019

There are many different ways to upgrade and create the perfect outdoor space. You can upgrade what you already have by adding simple things to it, you can accessorize, or you can overhaul the entire area by starting from scratch. It’s always a good idea to take these three approaches and use a mix of the strategies.    


Go For Durable


Sometimes many different types of patio furniture end up being a little stuffy and high maintenance. While these sets can be beautiful, they may not be practical to suit your needs. If you live in an area where you need to put away your furniture for the fall and winter season because you don’t have use of the outdoors, plan accordingly with the type of outdoor accessories that you buy. 


You’re better off going for value and finding durable, yet stylish furniture that will stand the test of time. Otherwise, you’ll be replacing your furniture every year without fail. Go a bit more traditional than bold and work your outdoor style around that.


Choose Your Colors First


If you start with furniture, you’re left to figure out how to accessorize. There’s no rule that says you can’t find the accessories you want first before you begin to buy furniture. Find your cushions and outdoor rugs first. Then, move on to finding furniture that meshes well with those colors and styles.


Use The Outdoors To Accessorize


Whether you’re replacing your existing patio furniture, or just looking to recreate your space, you can use more than throw pillows and an outdoor rug to accessorize. Find planters that match well with the style you’re looking to achieve. Add in greenery and flowers that will only accent the look. There are a number of options of the types of planters that you can choose from hanging plants to large pots to planters on pedestals. Get creative with your plants and spice up your space. Is your outdoor space near your vegetable garden? Be sure to highlight your hard work and use that as a sort of focal point for your entire outdoor space.


Be Practical


If you’re spending a lot of time outside grilling, you’re going to want a table and chairs available, so there’s no need to truck food in and out of the house each night for dinner. It also would be a good idea o have some storage for food prep items like grilling tools, extra plates, and more just to keep everything you need in one place. These storage items are an important piece to your outdoor space. Whether you are primarily using a deck, patio, or the pool area, thinking practically can really be a big help in decorating.




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Posted by Pamela Crawford on 2/17/2019

If you plan to pursue a house, you likely want to enjoy a seamless homebuying experience. Although you may take extra steps to err on the side of caution as you explore myriad homes, there may be times when it helps to be an aggressive homebuyer.

Ultimately, there are many reasons why you may want to be aggressive and try to accelerate the homebuying journey, such as:

1. You're facing a tight deadline.

If you have only a certain amount of time to buy a house, it may be a good idea to be aggressive. That way, you can accelerate the homebuying journey and acquire your ideal residence before time runs out.

For those who are facing a tight deadline, you may want to stay on top of new houses as soon as they become available. Fortunately, if you work with an expert real estate agent, you can do just that.

An expert real estate agent can keep you up to date about houses that fall within your price range and are located in your preferred cities and towns. As a result, this housing market professional can help you secure your dream house faster than ever before.

2. You discover your dream home and don't want to risk losing it to a rival homebuyer.

If you find a house that fulfills all of your homebuying criteria, there is no need to wait to submit an offer. In fact, if you hesitate, you risk losing your ideal residence to a rival homebuyer.

Of course, when submitting an offer on a house, it pays to be realistic. If you analyze the housing market closely, you can understand a house's current value and submit a competitive proposal right away. As such, you can boost the likelihood of receiving an instant "Yes" from a seller, as well as improve your chances of enjoying a successful homebuying experience.

3. You possess the homebuying confidence and expertise that you need to succeed.

An informed homebuyer should have no trouble assessing the housing market and finding a residence that matches or exceeds his or her expectations. Thus, this homebuyer may be more likely than others to quickly discover a terrific house at a budget-friendly price.

To build your homebuying confidence and expertise, it may be beneficial to collaborate with a real estate agent. This housing market professional can teach you everything that you need to know about purchasing a house. By doing so, a real estate agent will ensure that you can achieve the best-possible results throughout the homebuying journey.

Let's not forget about the housing market insights that a real estate agent can provide, either. A real estate agent can help you differentiate between a buyer's and seller's market, submit a competitive offer on a home and much more. Therefore, with this housing market professional at your side, you can go from homebuyer to homeowner in no time at all.

Ready to start your search for your dream house? Become an informed homebuyer, and you can speed up the homebuying journey.




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