BLOG

Use Your Tax Refund Toward Home Buying Costs

Blog posted On January 23, 2025

Tax season is right around the corner! If you’re expecting a sizeable tax refund on the horizon and want to invest in your homeownership future, here’s something you might not have considered: using your tax refund to buy your home. You’d be surprised at the ways you can utilize your tax refund for home buying success, so let’s tackle a few of those options right now.

The Perks of Home Buying in the Winter Season

Blog posted On January 16, 2025

When most people think of the best season to buy a home, summer comes to mind. Likely, there’s an understandable reluctance to moving when there’s snow on the ground. However, is it not worse to move in 80-90 degree heat, with the sun beating down relentlessly while moving heavy boxes and furniture? In the colder season, moving will keep you warm, and you likely won’t be affected by the cold as much as you’d think. There’s also less competition to contend with and more time to work with your agent. And best of all, your negotiation power has much more weight in the winter. Still not convinced? Let’s walk through some of the perks of home buying this winter.

Real Estate Lessons From It’s a Wonderful Life

Blog posted On January 02, 2025

Considered one of the greatest films of all time and certainly amongst the best holiday movies, It’s a Wonderful Life released in 1946 and despite nearing its 80^th anniversary, its themes of family and friendship have resounded powerfully throughout each ensuing decade. The film is especially relevant to today’s housing market; much of the movie’s plot revolves around affordable homes, ditching landlords like Mr. Potter, and in George and Mary Bailey’s case, taking on a fixer-upper home. The real estate market has fluctuated plenty since Frank Capra’s beloved picture dropped in theaters, but the dream of homeownership is ever-present in the film, one that George Bailey believes everyone deserves, regardless of their situation.

2025 Housing Trends: How to Financially Prepare for the Market Shifts Ahead

Blog posted On December 20, 2024

Now that 2025 is nearly upon us, it’s time to take a look at predictions for the next year, especially concerning the housing market and how it affects buyers. We’d also like to share some financial tips on how best to prepare for potential market shifts on the horizon. We want to help set you up for home buying success in the new year!

What the Rising Age of First-Time Home Buyers Means for the Real Estate Market

Blog posted On December 13, 2024

According to the National Association of Realtors’ 2024 Profile of Home Buyers and Sellers report, the average age of first-time home buyers has reached 38 years old, a jump from the year prior (35 last year). Let’s decode some of the reasons the median age has jumped up and how this statistic affects the current state of the real estate market.

Are Sellers Pulling Back? Examining Recent Inventory Challenges

Blog posted On October 31, 2024

Is it true that some sellers are throwing in the towel? Due to the rising mortgage rates of last year and this year, the percentage of price cuts for homes have risen. Along with the price-cut increase, listings are also receding, which has led to this surge of sellers calling it quits. Thankfully, there are loan programs out there that can benefit sellers and buyers alike.

A Bountiful Autumn: What to Expect with Seasonal Mortgage Trends

Blog posted On October 04, 2024

The end of summer heralded a shift in the real estate market. The recent Fed rate cut announcement caused ripples throughout the industry, cutting the benchmark interest rate by 0.5%. Home buyers and real estate professionals alike have been celebrating as this announcement marked the first rate reduction in four years. After a languid summer and a dragging housing market, this economic shift has aligned perfectly with the changing season. Autumn has now been injected with buying energy, and potential home buyers may finally feel ready to leap off the sidelines into the golden leaves of homeowning.

CMG Financial Raises Conforming Loan Limits to $802,650 ahead of FHFA’s Increase

Blog posted On September 27, 2024

CMG Financial has increased its agency conforming loan limits to $802,640, a 4.71% increase from this past year’s limits. Though the Federal Housing Finance Agency (FHFA) has not officially announced the new conforming loan limits, CMG wanted to give home buyers early access in an effort to ease some of their affordability challenges.

How Falling Interest Rates Could Reignite the Housing Market

Blog posted On September 20, 2024

With mortgage rates tumbling to their lowest levels in recent times, priced-out potential home buyers may start to hope again. Due to the recent lower-trending rates, refinance applications jumped starting in August. Now, with the Fed beginning its long-awaited rate cuts, home buyers could be in luck in the coming months.

Down Payment Costs Rise by 15% Annually: Here’s How to Keep Yours Low

Blog posted On September 06, 2024

According to Redfin, home buyers are now putting down an average of $67,000, which marks a nearly 15% increase compared to a year ago. This put the typical home buyer’s down payment at a whopping 18.6% of the purchase price, the highest level in over ten years. With this recent surge, prospective homeowners, realtors, and lenders alike are all wondering what this means for the future. And how can we still succeed in the home buying market despite record highs?

How to Spot and Avoid Real Estate Scams as a Home Buyer

Blog posted On August 29, 2024

Buying a home is probably one of the biggest financial investments you’ll make in your life, making you an appealing target for hackers and fraudsters. From wire fraud to email fraud to solicitation calls, there are several ways people might try to get your personal information and/or money. So in this blog, we’ll explore some of the most common real estate scams and how to avoid them.

The Importance of a Real Estate Agent in Today's Market

Blog posted On August 22, 2024

A staple of the mortgage industry is the need for a REALTOR® during your home buying (or selling!) process. Many potential homeowners are questioning whether utilizing a real estate agent is even needed these days, believing they can just save the money and do the legwork themselves. Fortunately, there are still a multitude of reasons to work with a REALTOR® — why don’t we tackle a few of them?

Key Things Buyers Should Consider When Purchasing a Home

Blog posted On August 08, 2024

After years of saving bit by bit, chipping away at debt, and boosting your credit score in preparation for buying a home, you’ve finally gotten to a good place. It’s time to wave goodbye to landlords and purchase your new home! Where do you even begin? It’s such a big life decision, and you want to make sure you find a home that checks your most important boxes while avoiding money-draining surprises. To help you determine your future home with confidence and clarity, let’s look through home buying green and red flags.

5 Strategies for Navigating a Low Affordability Housing Market

Blog posted On August 02, 2024

What are some of the biggest homeownership hurdles holding you back? Well, high interest rates and historically high home prices to start! It’s understandable to ask, “WHY are people buying now, and HOW are people affording homes?” Instead of holding off and continuing to wait for rates to drop, this may be the best time to buy, especially with the help of loan programs like Rate Rebound. According to MarketWatch, buying now is key—once the Fed finally starts cutting interest rates, the lack of home supply will remain, meaning that “high home prices today could soar.” Let’s tackle five strategies that can put you ahead of the game in this low affordability market.

80 Years: The History and Impact of the VA Loan

Blog posted On July 25, 2024

The VA home loan was created through the G.I. Bill, also known as the Servicemen’s Readjustment Act of 1944. Signed into law by President Franklin D. Roosevelt on June 22^nd, this legislation ensured an enduring legacy that continues to provide Veterans with vital resources, fostering a brighter future for generations to come. The VA Loan played a critical role in that development.

5 Tips on How to Financially Prepare for a Home Loan

Blog posted On June 28, 2024

Are you ready to purchase your first home, but overwhelmed with where to begin? The way to set yourself up for success for the home buying process is to consider preparing your finances and getting into the best financial shape possible before applying for a home loan. Let’s walk through some helpful tips to help the process go as smoothly and stress-free as possible.

Glimmers of Hope for Home Buyers Arise as Inventory Inches Up

Blog posted On June 21, 2024

Higher-trending mortgage rates getting you down? Here’s something you can get excited about: according to Realtor.com, there are 35.3% more homes on the market than this time last year. Even more exciting news: there is a rising number of affordable homes hitting the market.

Struggling to Sell Your Home? DON’T Make This Costly Mistake

Blog posted On October 19, 2023

“I’ll wait until next year...” “Maybe when rates fall…” “I can’t afford to buy right now…” High mortgage rates are pushing many people out of the home buying market. With fewer interested buyers, selling a home has become significantly harder than a couple of years ago. If you’re trying to sell now, don’t give up hope. We have ways that can help you save money and still sell your home at top price.

Renovation Loans - How They Can Be Beneficial in the Current Market

Blog posted On September 21, 2023

Roughly half of the American population worries they’ll never own a home. Fewer homes are for sale and more homes are selling over asking price, meaning you’re more likely to be involved in a bidding war and might not be able to afford the homes you like. Many buyers, especially first-time buyers are understandably losing hope. If you feel like you’re one of these people, we’ll tell you a secret hack that most American buyers AREN’T doing that can uncover more options at lower prices. Don’t lose hope just yet!

Why a Mortgage Preapproval is Your First Step in Home Buying

Blog posted On September 07, 2023

Purchasing a home is one of the most significant financial decisions you'll ever make. Whether you're a first-time home buyer or you’ve moved between several homes, the journey can be both exciting and overwhelming. One crucial step that often gets overlooked in the excitement is obtaining a mortgage preapproval.

Exploring Your Mortgage Options When Rates Are Rising

Blog posted On August 31, 2023

Mortgage interest rates tend to be very cyclical. They regularly rise and fall depending on factors like inflation and the general health of the economy. If you’ve found yourself looking for a home when rates are rising, it can seem like the long-term affordability of homeownership is out of reach. However, there are options for home buyers in almost every housing market. This article will look at the viability of options like adjustable-rate mortgages, temporary buydowns, rate locks, and refinancing.

3 Essential Questions Renters Must Ask Before Purchasing a Home

Blog posted On June 23, 2023

For many renters, the idea of transitioning from renting to homeownership can be both exciting and daunting. It's a significant financial and lifestyle decision that requires careful consideration. Before taking the leap, renters should ask themselves several crucial questions to ensure they are ready for the responsibilities and benefits of owning a home. If you’re considering homeownership, consider these three essential questions that you should ask before making the move.

The Best Time of Year to Buy A Home: Insights And Tips

Blog posted On June 02, 2023

As you start shopping for a home, timing can play a crucial role in securing a deal or getting the location you want. While the real estate market fluctuates throughout the year, certain periods offer definite advantages for potential home buyers.

Legislative Proposal to Ban Trigger Leads Offers Consumers Hope of Long-Needed Relief

Blog posted On April 27, 2023

Last week, Rep. Ritchie Torres of New York introduced bill H.R. 2656 in hopes of ending the sale of trigger leads, which could greatly reduce the number of unsolicited calls a consumer receives after applying for a mortgage. Oftentimes, trigger leads cause confusion for buyers because they can come from competing lenders who are asking for personal information. Although this bill is still in the early stages, it’s a good (and far overdue) step in the right direction.

5 Ways to Turn Your Tax Refund into a New Home

Blog posted On February 02, 2023

Tax season is the time of year that most Americans look forward to because they are expecting a refund from Uncle Sam. It may be easy to start daydreaming about a new car, a new wardrobe, or shiny new electronics, but if your goal is to become a homeowner this year, there are several ways that you can leverage your refund to reach your goal and start building wealth.

Here are 5 ways that you can use your tax refund to purchase a home: