Buy or Sell with Melinda in Middle Tennessee

GETTING PREQUALIFIED GETTING PREQUALIFIED Why do you need to get prequalified? It is very important in today’s market to get prequalified with a lender of your choosing. I have lenders that I can recommend to you but it is your choice who you decide to work with. Getting prequalified helps you determine your budget on what you want and can afford. You don’t want to be looking at $400,000 homes to find out the payment you want is on a $250,000 home, as well you don’t want to be looking at $200,000 homes getting frustrated when your payment budget could have you looking up to $300,000. As well when you do find the home you like the listing agent will require a copy of your preapproval letter.(You don’t want to miss out on the opportunity to make an offer while waiting to get prequalified.) Please watch video below for more information: www.melindasellsmiddletennessee.com

The Cost of NOT Owning Your Home Owning a home has great financial benefits, yet many continue to rent! Today, let’s look at the financial reasons why owning a home of your own has been a part of the American Dream for as long as America has existed. Zillow  recently  reported  that: “In reality, buying or renting a home is an intensely personal decision, with emotional and even financial considerations that go beyond whether to invest in this one (admittedly large) asset.  Looking strictly at housing market numbers, there is a concrete point at which buying a home makes more financial sense than renting it.” What proof exists that owning is financially better than renting? 1. We recently highlighted the top 5  financial benefits  of homeownership: Homeownership is a form of  forced savings. Homeownership provides tax savings. Homeownership allows you to  lock in your monthly housing cost. Buying a home is  cheaper tha...

The Mortgage Process: What You Need to Know [INFOGRAPHIC] Some Highlights: Many buyers are purchasing a home with a down payment as little as 3%. You may already qualify for a loan, even if you don’t have perfect credit. Take advantage of the knowledge of your local professionals who are there to help you determine how much you can afford. Use the buttons below to share with your Personalization Profile...                 «  Mortgage Rates on FIRE! Home Prices Up in Smoke? The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment deci...

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80% of Renters Believe Homeownership is a Part of Their American Dream According to the latest  Aspiring Home Buyers Profile  by the  National Association of Realtors  (NAR), 82% of surveyed renters desire to own a home in the future, with 80% believing homeownership is a big part of achieving their American Dream. The profile went on to state that 50% of millennials believe that their rent will increase, with 20% believing that an increase in rent will be the catalyst that pushes them to consider buying a home vs. renewing their lease. So, what is holding renters back? What would make renters take the plunge? NAR’s  Chief Economist,  Lawrence Yun believes that, “Housing demand in 2018 will be fueled by more millennials finally deciding to marry and have kids and the expectations that solid job growth and the strengthening economy will push incomes higher.” Yun goes on to warn that, “However, with prices and mortgage rates also...

61% of First-Time Buyers Put Down Less than 6% According to the  National Association of Realtors’  latest  Realtors Confidence Index , 61% of first-time homebuyers purchased their homes with down payments below 6% from October 2016 through November 2017. Many potential homebuyers believe that a 20% down payment is necessary to buy a home and have disqualified themselves without even trying. The median down payment for all buyers in 2017 was just 10% and that percentage drops to 6% for first-time buyers. Zillow Senior Economist  Aaron Terrazas’ recent  comments  shed light on why buyer demand has remained strong, “Looking into 2018, rent is expected to continue gaining. More widespread rent growth could mean home buying demands stay high, as renters who can afford it move away from the unpredictability of rising rents toward the relative stability of a monthly mortgage payment instead.” It’s no surprise that with rents rising, more and mo...

2 Major Myths Holding Back Home Buyers Urban Institute  recently released a  report  entitled, “ Barriers to Accessing Homeownership, ” which revealed that  “ eighty percent of consumers either are unaware of how much lenders require for a down payment or believe all lenders require a down payment above 5 percent.” Myth #1: “I Need a 20% Down Payment” Buyers often overestimate the down payment funds needed to qualify for a home loan. According to the same report: “ Consumers are often unaware of the option to take out low-down-payment mortgages. Only 19% of consumers believe lenders would make loans with a down payment of 5% or less… While 15% believe lenders require a 20% down payment, and 30% believe lenders expect a 20% down payment.” These numbers do not differ much between non-owners and homeowners; 39% of non-owners believe they need more than 20% for a down payment and 30% of homeowners believe they need more than 20% for a down payment. W...