Wednesday, November 16, 2016 / by Becca Scott
If you are absolutely serious about buying a home, it’s time to get pre-approved for a mortgage! This step in the process is recommended to be taken prior to starting your house hunt. We know that starting off with paperwork isn’t as appealing as jumping into the actual home search, but getting pre-approved will help you tremendously in your hunt! A pre-approval is basically a written statement from a lender stating the lender’s preliminary determination that a borrower would qualify for a particular loan amount. The loan amount and determination is based on income and credit information.
So why is it so important to have one of these before shopping around? Well you wouldn’t want to go to a grocery store without your wallet would you? Getting pre-approved will give you an accurate detail on how much home you can actually afford, which can help narrow down your search. You will also be a much more attractive buyer to sellers, because you have proof tha ...
Friday, October 14, 2016 / by Becca Scott
So you’ve thought about it over and over (and over) again, but you are still on the fence about whether you should continue renting, or start the process of buying your own home. Owning a home is part of the American dream, but it’s a huge step to make, we know! To help you with your decision, we’ve come up with the top 4 benefits of owning a home.
You Will Build Wealth and Equity Over Time
Equity is the amount of money you sell your home for minus what you still owe on it. The amount left over is your home equity. On each of your monthly mortgage payments, a portion of it goes towards reducing the amount you owe on your loan, which in turn increases your equity.
Over time as the interest portion of your mortgage payment decrease, the interest that you pay will eventually be lower than the rent you would have been paying. But instead of throwing money away when renting, you will be continually building wealth!
Wednesday, October 12, 2016 / by Becca Scott
So you’ve determined that owning a home is for you, and you’ve weighed the options of buying an existing home, versus buying a new construction home. Now what? Your next decision will be where you want to live. This may be the most important factor to consider when it comes to buying a home. To help you, we are starting a new series called “Life in Chesterfield,” where we will feature different Chesterfield neighborhoods, offering in depth insights into these communities, so you can determine what is best for you and your family.
To kick off this series, we will be discussing one of the hottest neighborhoods in the area right now, Hallsley! This beautiful new home community is centrally located in Chesterfield County just 3 miles from Route 288 and route 60. As soon as you enter Hallsley, you can see that it is anything but cookie cutter. Homes range from Classical to Georgian, Colonial American, Colonial Re ...