"I’M GETTING READY TO BUY MY FIRST HOME AND MY PARENTS HAVE OFFERED TO HELP BY GIVING ME MONEY FOR PART OF THE DOWN PAYMENT. WILL I NEED TO DISCLOSE THIS MONEY?" Yes, you’ll need to disclose any large cash gifts that you receive or else your loan may be denied. You can disclose the money by having your parents write what is called a gift letter. The gift letter will need to have the amount of the gift, the relationship of the gifter to the giftee, the address of the property

With rental rates on the rise, if you’ve ever thought about buying a new home and renting out your current home, now may be a great time to do just that. Buying and renting out your home at the same time can be a little bit tricky, however, so you’ll need to plan ahead and make sure this is the right step for you. Why Do You Want to Rent Out Your Home? Many homeowners who opt to rent out their home do so as a way to generate income. According to the latest figures from Zillow

When you make an offer on a home, you wait anxiously to see if it will be accepted. Sometimes you’re lucky enough to hear back within hours. Other times you could wait days or even longer. But once you get that good news that your offer has been accepted, what happens next? There Will Be a Home Inspection. A home inspection needs to be conducted in order to assess the condition of the home for financing needs. This is a stage where issues may come up that require negotiation.

"HAPPILY, WE HAVE A BUYER FOR OUR HOME AND THE PURCHASE HAS BEEN SMOOTH. HOWEVER, THERE’S A DELAY IN CLOSING BECAUSE OF A FINANCING ISSUE. SHOULD WE BE WORRIED ABOUT THIS?" Although most home sales do close on time and without any problems, delays in closing do happen on occasion and as a seller, you’ll just need to bide your time. According to the National Association of Realtors, 76 percent of all existing home sales in 2018 closed on time, while 19 percent were delayed and

With the spring and summer buying season right around the corner, now is a good time to take a closer look at interest rates in terms of how they’ve been trending and what we might see in the next few months. Recent Interest Rate Trends: According to Freddie Mac’s Primary Mortgage Market Survey, the rates on a 30-year fixed-rate mortgage have generally been trending down since the middle of last November. Since reaching a high of 4.94 percent for the week of November 15—which

Since home values have continued to climb over the past couple of years, ensuring that you get a solid home appraisal is very important. To get the best possible appraisal, here are a few key steps you’ll need to take: Be knowledgeable about recent sales information. Recent sales in your area are a key component of your appraisal. In some instances, recent selling prices may have been negatively affected in your neighborhood for a variety of reasons. Ask your real estate agen