Posts by allanmcnabb
Pros and Cons of Paying Off a Mortgage Early
Soon after signing mortgage loan documents that lock in a 15- or 30-year debt, homeowners dream about paying off the debt early to get rid of the monthly burden. But, even if you could pay the mortgage off early, is it a good idea? When Considering Paying Off a Mortgage Early Paying off a mortgage…
Read MoreHow Do Interest Rates Affect the Housing Market?
Most prospective home buyers work with a mortgage lender to finance a home purchase. In fact, according to a U.S. Census statistic in 2020, 64.8% of current homeowners used a mortgage loan to buy their homes. The mortgage interest rate plays a vital role in most home purchases, often the most significant single investment individuals…
Read MoreHow Long Does It Take to Buy a House?
The time it takes to buy a home can be a long process. According to a December 2021 Bankrate.com article, the average time to close on a home with a conventional mortgage is about 51 days. Having all documentation organized in advance and quickly responding to all lender questions will minimize the time between an…
Read MoreDoes a Kitchen Renovation Improve Your Home’s Value?
One glance at your tired and out-of-date kitchen might suggest that a renovation is necessary. However, when considering kitchen renovations, questions about cost and whether you could recover the renovation costs when you sell the home come to mind. Kitchen Renovation Factors to Consider: Cost The cost of any home improvement will vary depending on…
Read MoreFour Upgrades that Add the Most Value to Your Home
Remodeling and upgrades can help increase the return on investment (ROI) of a home; however, it is unlikely the homeowner will recoup the total cost of most upgrades. Generally, an upgrade project must fix a design or structural flaw to recover the construction cost. A home remodeling project can help increase a home’s value. But…
Read MoreEight Simple Ways to Increase Your Home’s Curb Appeal
Curb appeal is the first impression a potential buyer gets of your home. A home’s curb appeal refers to its attractiveness when viewed from the street and is essential to consider when putting a home on the market for sale. It helps set expectations for potential buyers and positively influences a home’s value and marketability.…
Read MoreHow Much is My Home Worth?
Like most everything, home values are generally subject to the law of supply and demand. However, determining a home’s worth can be difficult due to the current economic conditions, location, comparable area sales, interest rates, and other factors. Knowing a home’s current value means greater control for the homeowner. Why Understanding Home Values is Important…
Read MoreWhat Are the Requirements for Mortgage Pre-Approval?
A pre-approval letter is a document from a lender based on certain assumptions, stating the maximum the lender is willing to lend to purchase a home. When applying for a mortgage pre-approval, the lender typically requires information about your credit, employment, income, debts, and assets to determine your creditworthiness. Documents Needed for Mortgage Pre-Approval Here…
Read MoreWhat is the Difference Between Pre-Qualified and Pre-Approved for a Mortgage?
As you prepare to purchase a new home, you’ll hear the terms “pre-qualified” and “pre-approved.” These are key steps in the mortgage application process. However, there are important differences in the two terms that every homebuyer needs to understand. Briefly, being pre-qualified is a first step in the mortgage process that gives you an idea…
Read MoreStaging Tips: Sell Your Home Faster and For a Higher Price
Staging a home will help it sell faster and for a higher price. However, home staging is more than just cleaning, straightening, and rearranging the furniture. Home staging is a way to showcase your home’s best assets to make it appealing to the broadest range of potential buyers. Think of staging as dressing your home…
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