February 10, 2024

Leveraging Your Home Equity is Key When Considering a Move

Advice, Real Estate, Seller, Senior Housing / By Keith LaBrunda - RE/MAX Select

Considering selling your home but unsure due to the current market’s affordability challenges? While it’s true that affordability might be tighter this year, there’s a silver lining: your home equity. An article from Bankrate sheds light on this: “Home equity is the difference between your home’s value and the amount you still owe on your mortgage. It represents the paid-off portion of your home. You’ll start off with a certain level of equity when you make your down payment to buy the home, then continue to build equity as you pay down your mortgage. You’ll also build equity over time […]

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Mortgage Pre-Approval is a Must Have for Buyers This Year

Advice, Buyer, Mortgage, Real Estate / By Keith LaBrunda - RE/MAX Select

Embarking on the journey to homeownership? You might have encountered the term “pre-approval” along the way. Let’s delve into its meaning and its critical role for those aiming to purchase a home in 2024. Understanding Pre-Approval In the homebuying journey, lenders assess your financial health to determine the loan amount you’re eligible for. This evaluation includes reviewing your W-2 forms, tax returns, credit score, bank statements, among other financial documents, as outlined by Investopedia. Following this assessment, lenders issue a pre-approval letter, which Freddie Mac describes as: “A pre-approval is an indication from your lender that they are willing to

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