Saturday, July 31, 2021 / by Capprice Kitchen
Hello! I hope you enjoy my Real Estate Newsletter and find it informative and beneficial. I appreciate you taking the time to read it. If I may assist you with your Amelia Island/Fernandina Beach area real estate goals, please don't hesitate to contact me. I also welcome referrals, and offer referrals in other locations if you know someone that might be in assistance of my services. Thanks so much and have an amazing day!
Amelia Island Real Estate Newsletter Presented by Capprice Kitchen ...
Wednesday, July 28, 2021 / by Capprice Kitchen
Most people need financing to buy a home. Even with a large down payment, you’ll need a loan to make up the rest. Fortunately, in 2021, you have many options. Mortgage guidelines have loosened up in recent years making it easier for most people to secure a loan.
Here are the top home loan types buyers use in 2021.
Conventional loans are the ‘typical loan’ most people think of when talking about a mortgage. Contrary to what most people think, though, you don’t need a 20% down payment. Conventional loans require just 3% down for first time homebuyers and 5% down for subsequent homebuyers.
You do, however, need decent credit. Conventional lenders typically require a credit score of 660+ to secure financing. In exchange for your good credit, you’ll get low rates and fees, and you can cancel any Private Mortgage Insurance once you owe less than 80% of the home’s value.
FHA loans are a government-backed loan. ...
Tuesday, July 27, 2021 / by Capprice Kitchen
Buying and owning your own home is no easy task, and there are moments on everyone's journey when they feel like it's impossible. However, there are plenty of resources available to help make your dream of becoming a homeowner a reality.
The first step you should take when you're ready to consider buying a home is to check your credit score and/or start building your credit. Lenders want to see that you’ve been able to pay back borrowed money on time, and without missing payments or defaulting on a loan. If you have a poor credit score, you'll need to spend the next several months, or even years in some cases, improving it by paying off any debt you currently have and making sure to make all payments on time in the future. This is a great time to find a mortgage loan officer that you trust. They will periodically check in on your progress and make any suggestions to further improve your credit score.
Another way to keep your dream of homeownership alive is to start sa ...
Friday, July 23, 2021 / by Capprice Kitchen
It's been challenging to adjust to a new normal during the COVID-19 epidemic. With residents being asked to continue to stay at home, there are many who have lost their jobs or been asked to work remotely. The mortgage industry has also taken a big hit that has directly affected homeowners, renters, and investors alike.
There are many who are in the final stages of closing on their homes, and for some, the pandemic has made it difficult to efficiently move forward with the process. To help, desktop and exterior- only appraisals are being accepted as long as there is sufficient property information available online - this is not typically the most ideal method of a property appraisal. Potential borrowers can also submit their verification of employment via email, paystub, or bank statement to help streamline the process.
Significant changes have been made during COVID-19 to help homeowners get through "the new normal". tThose who have lost their jobs may be eligib ...
Monday, July 12, 2021 / by Capprice Kitchen
It may come as a shock that many people purchase a home before ever setting foot inside. These buyers may be moving to a new country or city far away, or they may not have the time or resources to visit for a home search before the big move. Not everyone has the option (or the desire) to rent for a few months while they find a permanent home in their new location. Most homebuyers would prefer to purchase a house before they arrive, so they can move their belongings and quickly get settled into their home.
There are a few things you can do to make the process more manageable if you've considered buying a house unseen. The first step is to find a realtor in the area that you can trust. Let them know your circumstances and that you'll need them to help vet potential properties for you. They'll be able to provide you with a link to a virtual tour if it's offered, or schedule a meeting where they can walk you through the house via FaceTime or another video-based app. This will help y ...