Ryan Stelzer / Oxford Home Lending- Lower.com

Mortgage definitions don’t have to be complicated. You can learn some of the most important terms in 10 words or less. Pretty simple, right?

The deed is the physical piece of paper you’ll get after closing day that says you own the property. Keep it in a safe place (like an actual safe)!

Tomorrow we honor our presidents who shaped this nation we call home. Happy Presidents' Day!

This is your reminder that Tax Day is April 15—two months away!

We’re about a month and a half into 2024. How are those homeowner resolutions going?

If it’s time to rethink, reevaluate, and revamp your list, that’s okay! There’s a lot of time left that you can jump back on it.��And, here are just a few ideas if you didn’t put pen to paper before:

- Improve your home’s energy efficiency.
- Focus more on landscaping this year.
- Integrate sustainable practices into everyday tasks.
- Create a home emergency preparedness plan.

We’ve discussed DTI before, but have you figured yours out yet?

First, add up all of your monthly recurring payments, including your rent or house payment, car payment, etc.

Once you have that number, you’ll divide it by your gross monthly income. Remember, that’s a pre-tax number. So, not the amount of money on your check or your direct deposit, but the one on your paystub before any deductions are made.

That’s all there is to it. The number you get will show up as a percentage. And, if you’re thinking about buying a home, lenders will want to see your DTI below 40%. It’s usually a good idea to see it around 36%.

So, where’s your number? If it’s higher, it might be time to think about paying something off so you can qualify for a home loan.

Remember when everyone was putting 20% down? That’s a lot of money considering the average home price in the US was $495,100 just last year.

There aren’t many people who have almost $100K sitting around they can use as a down payment. Good thing nowadays people are putting way less down.

So, what’s the sweet spot? Consider this: The average down payment for first-time homebuyers is around 6% and the minimum you can put down with an FHA loan is 3.5%. It’s a good idea to go above the minimum so you can have a bit more equity in the house starting out. But, you don’t need to drain your savings.

It really comes down to comfortability. Just like your monthly payment, what are you comfortable affording as a down payment? No one wants to be house poor, so it’s best to hold onto enough money for an emergency fund. Make that at least a few months’ worth of expenses.

Rates went up on Friday!

Biggest One-Day Jump in Rates in Over a Year Mortgage rates were crushed by today's jobs report.  Nonfarm payrolls (the main component of the report), came in  significantly higher than expected (353k vs 180k forecast) and were revised up significantly for December (333k versus 216k previously). January's jobs data (t...

Your house is your playground. Go wild.

One of the things that makes homeownership appealing to so many people is the fact that they can customize everything. Right down to the bushes beside your front porch.

Decorate how you want.

Mow how you want.

Landscape and garden how you want.

When it comes to owning your home, you’re the one who has the final say.

Did you know you can turn your 30-year loan into a 25-year without even refinancing?

It’s simple. Just pay more principal. This could be one extra payment a year (only toward principal, though) or divide a monthly mortgage payment by 12 and add that on top of every monthly payment. Again, just make it go toward principal. The more you pay toward the principal, the less you’ll pay toward interest in the long run. And the quicker you’ll be done with your loan.

This program’s for all the first-timers who can’t wait to get into their new home. A little help up front goes a long way. Reach out to me to talk about your options.

We can’t repay everything our military service members do, but this is a start. Helping you get into the home of your dreams is the least I can do.

This one’s for all the people making a difference in our community each and every day. It’s just our way of saying thank you for all you do.

Would you ever do anything without a plan? Ok, maybe some of us do, but when it comes to buying a house, plan it out.

No matter where you are in the process, knowing your next step is crucial. Just be ready.

Be ready to make an offer.

Be ready with your paperwork.

Be ready to make a pivot.

Be ready to win the house.

Reach out today. We’ll talk about where you are in the buying process, and how we can help make it easier.

Your home is an investment in your future. And it’s a big purchase. The last thing you want is buyer’s remorse.

Doing your due diligence is so important. That means knowing everything about the future property and your mortgage.

So, we’re talking surveys, title searches, home inspections, any legal documents, and of course your finances.

We’ll make sure you’re on the right track, talk about your loan options, and get you the best mortgage to match your dream home. We’re with you every step of the way.

Get all the inspections. This one’s a biggie. You’re buying a house and you’re close to the end of the process. Getting an inspection for your future home is a major step.

Now, you could stop at a general inspection if everything checks out. But, if your inspector raises some red flags, it’s best to get someone who specializes in the issue out to your place.

Why? Inspections just cost more money, right? Well, so does fixing a problem you let go because you didn’t know about it. There are all types of inspections—from radon to electrical. You want to know’s going on in your future house. That way, you can fix it if it’s a solvable issue. Or, if it’s something bigger, you can pass on the house. It’s just best to know.

https://nationalmortgageprofessional.com/news/predictions-indicate-mortgage-rates-below-6-and-19-increase-single-family-purchase-origination

Predictions Indicate Mortgage Rates Below 6% and a 19% Increase In Single-Family Purchase Origination Volumes Fannie Mae's Economic and Strategic Research is predicting that mortgage rates will decline in 2024 and mortgage originations will increase. The group is predicting mortgage rates will end the year below 6%. With an expectation of rising home sales, moderating mortgage rates, a downward drift in the...

For people in mortgage, we hear a lot of talk about interest rates. And, if you’re looking to buy a house, you probably hear a lot about them, too.

But is it really the most important aspect of buying a house? Not exactly.

To us, what you should really focus on is your monthly payment. That’s a combination of two main factors: home price and interest rate. To get to a monthly mortgage payment you can comfortably afford, we have to take both the cost of your home and the current interest rate environment into account.

Right now you’re probably thinking either “that makes sense” or “but I just want a 3% rate.” You just need to change your perspective a little bit if you’re in the second camp. The truth is, you can have a higher rate and still get a house with a comfortable mortgage payment. It just has to be the right house for your interest rate to get you that magical monthly payment.

We can help with all of it. Just reach out when you’re ready to chat.

Buying a house is one of those things that can put undue pressure on you. Maybe you feel like since all of your friends have houses, so should you. Or your family’s wondering when you’re going to buy one for yourself. All those outside factors shouldn’t matter.

Only buy a house when you are absolutely ready. Sure, we can talk about your finances, you can go through the pros and cons, and consider what it means for your future. And it should feel right. If it doesn’t, maybe it’s not the right time to buy.

Despite what your friends, family, or society says, it’s your choice because it’s your money. You’re going to be the one making the payment every month. It will be your name on the title. So, you should have full confidence in your purchase.

We can help get you pre-approved for a purchase price, which would mean you’ve got a monthly payment you’re comfortable with. Then, it’s up to you to find it. Only if you’re ready, though.

Here’s to homeowners. It’s your space. You can do whatever you want. Feel like painting a wall? Do it. Want to make that room into your own studio? Go for it. Do all the hosting. Get all the plants. Cook all the food. Your house, your rules.

Best advice we can give to new homeowners? Make yourself a journal specific to your house. This can be a document on your computer, a three ring binder, or even a note on your phone. Just something to keep important information.

When’s the last time the furnace filter was changed? What was the exact color you painted the back hallway? What was the type of flooring you put into the basement? Who’d you use to take care of that plumbing problem? Those types of things are great to have a record of. And not just for you. If you ever sell the house, the next homeowner will appreciate having so much helpful information all in one spot.

Being a homeowner means a lot of different things. All at the same time.

So, you got the house! Now what? We know you’re so ready to move in, but take a beat. There might be some things you want to do before there are moving boxes all over the place.

1. Finish up those big projects. Maybe your HVAC needs replaced, or you’re doing a kitchen remodel right away. Take advantage of the time you have the house while you’re not living in it to take care of anything major. If you wait, it can be a bit of a nuisance for you or contractors to navigate all of your stuff.

2. Paint! Now’s a great time while your house is empty to update any wall colors to match your vibe.

3. While you should have a final walkthrough to see that everything is as it should be, sometimes doing a deep clean before you get into the house is a good idea. Not to say that the house won’t be clean, but when else will you have the opportunity when it’s completely empty? Grab you vacuum, broom, and sponges to get every nook and cranny.

The first 30 days of homeownership are so important. What other questions do you have about getting into your new house?

Closing day! Do a couple hand stretches because you’ll be signing a lot of papers. It’ll be worth it though, trust us.

This is a big step toward getting your home!

Your first 30 days as a homeowner are so important. To us, it starts even before you get your keys.

You want everything in tip-top shape when you’re ready to move in. So, you need to set up your utilities. This includes services like electric, gas, water, and internet. Simply ask the seller or your agent who services your area and specific house. Some utilities will just have one provider. Others, like internet might offer you some choices.

Pick what works best for you and let them know your timeline for closing and moving in. That way, everything is set up when you finally call your new house home.

Check out how ClientConnect™ works to see if it’s right for you and your lead funnel. We’re ready to contact your pipeline and pass off warmed leads right to you. Just reach out to chat next steps.

If you’re a real estate agent in my network (even if you’re not), let’s figure out if ClientConnect™ is right for you. Our team of experts boasts 11% lead conversion. It’s all about getting in front of your leads at the right time. That’s what our team specializes in. Let’s chat how it can help you.

Let us help you with ClientConnect™. Our team is ready to make your business even easier. Just reach out and we’ll get you and your pipeline onboarded.

This is a huge question. And sure, it’s a personal matter between you, your family, your dog, etc. But, we can also lend a hand.

Would we love to help you buy your home? Of course! It’s what we do best. But, we’ll also be the ones to tell you NOT to buy a house. If the numbers don’t work out, then it just doesn’t make sense. Same thing if it doesn’t feel right to you.

Buying a house is a big step to take, and an even bigger investment. Also, it’s probably the single biggest purchase you’ll make in your life. All that to say, there’s a lot to consider. We’ll help you talk it through, check out your numbers, and see what kind of loan option makes the most sense.