Buying a home is such a momentous accomplishment and you will always remember your first home! So of course, having a positive experience filled with cherished memories is what all first time buyers strive for! Having the right team and tools in place to help you accomplish this is our goal! And we realize that there is not just one path to homeownership... you are not a template and your home buying experience should not be one either. We have a variety of programs and systems in place to help and guide you on your personal home buying journey. Check out all of the tools we have and then contact us to help you best implement them to realize your dream of home ownership.
A mortgage assumption, simply put, is taking over another person’s mortgage with all its terms. This would include the remaining length of the loan, the INTEREST RATE AND PAYMENT, as well as the current balance. With the help of the right professionals, you can identify homes for sale that have assumable loans. Many on the market right now carry rates ranging between 2.25% and 5%. To put that in perspective, if you purchase a home with a $500,000 assumable loan with a 3% interest rate, your principal and interest payment would be $2108. Buying the same home with a current market rate of 7.75% would yield a payment of $3582. That’s a savings of over $1400 per month! With approximately 25% of the real estate market having assumable loans, there are more than enough options to choose from.
Calculate the "break-even" point of renting vs. owning tax savings, and more.
Looking to buy? Gain a better understanding of how much you can possibly afford.
It is so important to continue education as a real estate agent, and I am very proud to share that I have added another certification to my portfolio! I am now a certified loan assumption specialist. What does that mean you may wonder? Following training via the UMe program, I am equipped with the latest tools and resources to help you on both sides of the transaction. If you are buying, I am able to walk you through each step of the process to purchase a home with an assumable loan. For sellers, I am up-to-date on what it takes to certify a home loan as assumable and get your property pending and off the market asap.
First-Time Homebuyer
Laura Jewett | June 13, 2024
First-Time Homebuyer
Inspired Living Real Estate Collective | May 10, 2022
There are a lot of details that go into the purchase of a home that can be intimidating for the seasoned home buyer.
First-Time Homebuyer
Inspired Living Real Estate Collective | April 6, 2022
Most first-time home buyers are worried about making a mistake when taking on a huge financial.
First-Time Homebuyer
Laura Jewett | July 10, 2022
This new program, offered through Home Partners of America.