Will Appraisal Waivers Affect Your Homebuying Plans?

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Securing a loan for a home you want to buy requires more than just the right credit score and down payment. Lenders are cautious about what they give out, as they can be hurt by providing mortgages that are larger than the value of the home being purchased. One way they protect themselves is through the appraisal process, a review that helps establish a property’s worth. That process has faced recent challenges due to the demand for homes growing at faster rate than home construction. You may have questions about this process now that there are new rules on appraisal waivers. Instead of waiting for an appraiser to perform an in-person review, you can instead have a desktop-based appraisal of the property take place. This alternative approach can shorten the buying process and even reduce costs, but you may worry about what it does to your ability to receive a loan.

FHL Texas supports prospective homebuyers in many ways. We provide important information for those who are entering the real estate market for the first time, but we also take care of people who are more experienced in property buying and selling. Our guidance can help you make sense of appraisal waivers and their impact on your housing plans. We can also help you determine if this change will affect your interest in refinancing. (more…)

filed under: Home Purchases, Refinancing

Are You Really Prepared For A Second Home Purchase?

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homes for sale Home ownership comes with a variety of benefits. The comfort of feeling in control of your space, the ability to secure stable payments over rising rent prices, and the growth of your equity are all easy to appreciate. After completing the process of buying the property where you reside, you can feel more comfortable with the experience of securing a mortgage and a house. What you should know is that the experience can change when you look to the real estate market for something other than a primary residence. For example, you may have an interest in purchasing a second home, but you can find that doing so makes you feel the way you did when you tried to navigate the housing market for the first time.

With FHL Texas’ support, buying a second property becomes easier. We can help you understand how the rules change with this kind of purchase. Because you have our support, you can secure the right terms for a loan. That means enjoying agreeable terms, and it also means avoiding higher costs that will be added if your loan is believed to be for an investment property. (more…)

filed under: Home Purchases, Second Home

What To Expect From Housing Affordability In 2023

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attractive house home sales conceptHousing affordability can be a serious obstacle for potential buyers, particularly those buyers who do not have a current property to sell. During 2022, property prices and higher interest rates limited people’s purchasing power. However, as we review the market trends at the end of 2022, there are reasons to anticipate better affordability in 2023. Home prices have slowed their climb and even fallen in certain markets. Meanwhile, there are signs that mortgage rates will stabilize this year. As these trends merge, you can have an easier time finding attractive properties at more attractive prices!

FHL Texas helps people at different experience levels secure loans and make purchases. Our guidance can help you make more sense of market changes and help you move forward with buying. Because we provide no-cost pre-approvals, we make it easier to make a successful offer and move into the home of your dreams! (more…)

filed under: First-Time Buyers, Home Purchases

Are You Ready To Become A Homeowner In 2023?

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The new year is days away, but many people are already working out their resolutions for 2023. Many couples and families will look to make this year the one when they pursue homeownership. It can be exciting to think about reaching this milestone, but it can also feel difficult to take on if you lack familiarity with mortgage matters. Are you going to have enough to make a down payment? What kind of terms will you receive for your loan? Is this really a good time to stop renting and commit to buying?

Through guidance from FHL Texas, we can help you navigate the process of becoming a homeowner. Better information and expert guidance on mortgage matters can make your pursuit of homeownership easier. We offer the right information for prospective buyers, including information on loan terms and what kind of offer you should be prepared to make. Through our help, you can even enjoy an expedited buying process, as we offer no-cost preapprovals that help with successful offers. FHL Texas can also provide support for those who want to make this the year they buy a second residence or their first investment property. (more…)

filed under: Home Purchases

We Help With Different Types Of Homebuying

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For many who start to explore the housing market, the goal is to find a property that will serve as their home. Buying offers many benefits over renting, including the stability of mortgage terms and a location you can make your own by renovating and remodeling. Doing so also helps you grow your net worth and build your credit! Of course, there are financial advantages to more than just buying to secure a primary residence. For others who explore the market, the goal will be to pick up a second residence or investment property, with both offering many exciting benefits of their own.

FHL Texas provides guidance for people who different goals when they look at homes for sale. There are different rules that affect purchases that are not meant for primary residences. We can both help you understand what they are and work with you to make sure you are not paying fees that should not be charged to you as part of your purchase. This is just one of many ways in which we go beyond the conventional homebuying path to help people make the most of different real estate and lending opportunities! (more…)

filed under: Home Purchases, Investment Property

Am I Ready To Make A Down Payment On A Mortgage?

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The leap from renter to homeowner can seem like a large one, particularly if you are not sure what to make of the housing market or unsure what it will take to secure a mortgage. Fortunately, help is available, which means you gain the benefits of insight and experience on matters that can prove difficult to navigate on your own. One area of concern FHL Texas can help you explore is the matter of your down payment. You can be surprised at what kind of terms you can secure even when you have a smaller down payment, which means the opportunity to own a home may be easier to attain than you anticipate!

Our support has helped many first time homebuyers secure their first properties, and we also support those who are looking into more complicated purchases like those interested in acquiring second homes or investment properties. In addition to helping you understand what to anticipate from the housing market and different lenders, we can help you appreciate the positive long-term impact of owning a home. (more…)

filed under: First-Time Buyers, Home Purchases

The Benefits Of Buying A Home Over Renting

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If your time with your current lease is almost up, you can dive right into the search for another rental space, or you can explore the advantages to buying a home. There are benefits to making the transition to home ownership, but it can be an intimidating to make the leap from renting. Even if you feel that the time is right, you can have questions about the mortgage market and what kind of terms will come with yours.

FHL Texas has experience with people in different life stages who are looking for different things from the real estate world. In addition to helping people move from one owned property to another, we assist first-time buyers who are ready to stop renting. There are market trends that can reassure you that this is the right time to make a purchase. There are also advantages to owning a home for your long-term financial health that can make your property purchase beneficial at any time! (more…)

filed under: Home Purchases

Should Market Trends Affect My Interest In Buying A Home?

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Housing trends change in a number of ways, and it can be difficult to look at the market from the outside and determine just how those changes affect your plans to buy a home. The movement of interest rates, both local and larger housing price fluctuations, and shifts in supply and demand all play a role in the mortgages and home prices you see. For potential buyers who remember volatile times like the 2008 crash of the housing market, committing to a mortgage can be daunting. However, they may be surprised at the benefits of owning even at times when the market feels less stable. Recent changes in interest rates and a drop in housing prices have occurred, but this remains a beneficial time to make a purchase, particularly when you factor how the recent drop in home values and other Fall 2022 trends have affected matters for buyers.

FHL Texas knows that buyers look for homes in Texas for many reasons, and we know some people will need to buy even when they are unsure of what is happening with the market. Whether you are trying to buy your first house or need to move from your current location to somewhere new, we can help you navigate mortgage matters and secure a great space! Our help includes no-cost pre-approvals that make it easier to move forward with your offer and secure the home you want for your family. (more…)

filed under: Home Purchases

Long-Term Advantages To Owning A Home

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How will the move from renting your living space to owning your residence affect you? You can feel an immediate sense of pride in your status as a homeowner, and you can enjoy the stability of being so firmly set in where you live. A home can also offer more space, including outdoor spaces, that are yours to enjoy and maintain as you see fit. These comforts aside, there are also real financial benefits to home ownership that you should consider. In the long term, the growing equity in your home can raise your worth and provide real value in your later years. You can also take advantage of opportunities like refinancing and reverse mortgages at the appropriate times, which can help you set aside money and improve your financial standing.

The leap from renting to owning can be appealing, but it can also be intimidating for a first time buyer. Whether you are looking to secure your first mortgage or you are already a homeowner, FHL Texas can make buying easier. We offer support through no-cost preapprovals that help you move forward with an offer, guidance on what to expect from your mortgage terms, and general assistance to make sure your big move is the right one. (more…)

filed under: First-Time Buyers, Home Purchases

Early Mortgage Guidance During Your Home Search

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As exciting as it is to start the search for your new home, it is important to gather the right information early in the process. This means more than just exploring neighborhoods and looking at what properties are available, as you should also look into matters like pricing trends, changes in interest rates, and your own financial health. Financial matters can be more difficult to assess than the fitness of a home for your family. Fortunately, you can count on FHL Texas to provide important early guidance!

Families ready to make a home purchase can meet with us to learn how their credit history, their proposed down payment, and available loan terms will impact them. This expert guidance can give you important insight into the market, your loan options, and how you can proceed on the path to becoming a homeowner. Our support can be especially helpful to people who are trying to become first time homeowners, but it can be smart to receive expert guidance on the current housing market even if you have already been through this process. (more…)

filed under: Home Loan, Home Purchases