Buying a home or car requires good credit, if you are approved with less than ideal credit you will pay a much higher interest rate to compensate. There are some steps that can be taken to improve your credit and prepare you for the home buying process.
Interest rates have remained under 5% for the last decade, these ultra-low rates won’t last but they are also a long ways from average. Home prices are expected to continue rising in 2017 but at a pace much slower than this year’s increases.
According to the US Census, millenials’ rate of homeownership dropped to 36.2% in 2014, however, these numbers are slowly improving. As part of the real estate industry we hope to educate millennials on the benefits of owning a home.
Your job as a Real Estate Agent will be to assist client’s who may have little to no experience in buying a home. Many clients feel that their budget is much higher than they can actually afford or are at least surprised by the added costs and overlooked fees that go along with purchasing a home.
Understanding the difference between a trust deed and a mortgage isn’t a vital piece of knowledge for most homeowners. But for some families, a deed of trust can be a better option. Here’s a look at the differences, and why you might choose one over the other.