February 28th, 2023
Lots of things go into your interest rate quote.
Let’s go through the different factors that can affect your interest rate.
- Credit Score: The higher your credit score, the lower your interest rate will be in most cases.
-Loan Type: Different kinds of loans have different interest rates. Generally speaking, FHA and VA loans will have lower interest rates than a conventional 30-year loan.
-Loan to Value: If you only need a $100,000 loan to buy a $300,000 home, you’ll get a better interest rate than you would if you needed a $275,000 loan for the same home.
-Property Type: Some properties, like condos and vacation rentals, are seen as a larger risk to the lender. The riskier the loan for the lender, the higher the interest rate will be on your end.
Each of these factors impact your interest rate quote in different ways. Some of these things you have control over, while you don’t have control over others. Want to talk more about interest rates? Send me a DM and let’s chat!
did you know?
What do mortgage rates and inflation have in common? A lot, actually.
Mortgage rates go up when inflation goes up. This is because the Federal Reserve will raise consumer interest rates as a way to decrease the amount of spending happening.
This is what we’re seeing right now. There’s a lot of money flowing in and out of the economy, and the Federal Reserve has raised interest rates to try to slow that.
On the flip side, that means that when inflation goes down, interest rates will go down as well.
Inflation will go down, especially because of the interest rate increases we’ve seen over the past year. So, with that in mind, you can feel confident either buying now and refinancing to a lower rate in the future.
Want to talk more about interest rates and buying a home in this market? Just send me a DM!
Step by step mortgage process
Does the mortgage process scare you?
If it does, you’re not alone. A lot of buyers find the mortgage process complicated and overwhelming. But they just haven’t had a good real estate agent break it down for them!
When you break the process down into steps, you’ll see that it’s not bad at all. Really, it’s a matter of finding a lender you like and sending them your information. From there, your lender will take care of the rest while you work with your real estate agent to find your dream home!
There are a few lenders in our area who are amazing to work with and I highly recommend. Want their contact info? Just send me a DM!
do you need
When you’re closing on a house, you’re offered a ton of different things from home warranties to homeowner insurance to title insurance.
Title insurance is one of those things that buyers get confused about because it seems to just be a backup to a title search, and do you really need both?
Short answer: yes!
Long answer: Title insurance protects you from a bad title for your property. The title says that you’re the legal owner of the property. But sometimes, the title will have issues like…
Any of these things can make your life difficult and expensive. With title insurance, you’ll be covered in the eventuality of something going wrong with your title.
Even if you get a title search, which you should always do, things can and do turn up months after homes have been sold.
Your home is a huge investment, so it’s worth the extra cash for title insurance to protect you from the worst.
February 20th, 2023
One of my favorite things about real estate: equity!
Quick refresher: equity is what you build when you pay your mortgage every month. Basically, it’s the amount you’ll get back in your pocket when you sell your home.
Equity is what makes real estate such an amazing investment. Instead of having the money you pay for housing just disappear each month like it does when you’re renting, that money ends up in your home as equity.
But you don’t have to wait until you sell your home to tap into your equity. With a home equity line of credit (HELOC) and other equity-based loan options, you can put that money to work for you.
Want to talk more about how you can use your equity or about how to build it in the first place? Just send me a DM!
investing in real estate
You know the “how” of investing in real estate.
It’s simple. You follow these steps:
Buy a property
Rent it out OR renovate it for a profit OR rent out a room/level
But during that 3rd step, you also get to take advantage of several other benefits. Investing in real estate can come with tax advantages, can diversify your investments, and build your passive income stream.
Investing in real estate comes with so many benefits, and it’s easy to get started. Just send me a DM to find out how!
Are you the next lucky seller?
Homes have been sold all over town in the past month, but now it’s time for the next seller to succeed.
So let’s get started to get your home sold!
All you have to do is take the first step: send me a DM so we can set up a time to chat.
From there, I’ll send you the Seller Guide (free to download at the link in bio!) and we’ll talk about what needs to happen to get your home sold for top dollar.
I’ll answer all your questions and provide you with all the information you need to succeed and get the most ROI when selling your home in 2023.
Ready to get started? Send me a DM!
#iloverealestate #realtorlove #grandjunction
February 15th, 2023
This is your wakeup call!
Now is the time to wake up and chase those dreams.
You could choose to sleep on them for a while longer… But if you do that, then who knows how many amazing opportunities you’ll be missing out on?
It doesn’t have to take a lot of time or energy to get started on chasing your dreams.
For example, if it’s your dream to own a home in the next year, then you can grab your free copy of the Buyer Guide at the link in my bio. Easy and done!
What are you doing today to chase your dreams? Let me know in the comments so I can cheer you on!
As a new homeowner, it’s critical to protect your peace.
Learning how to maintain a home, pay the mortgage, and keep track of the systems and different things related to your home can be incredibly overwhelming.
One way to help you protect your peace of mind is with a home warranty.
A home warranty covers your home’s systems in case of breakdowns from normal wear and tear. The systems included in a home warranty coverage often include:
So if your washer breaks down the week after you close on your home, you don’t have to scramble to buy a new one. Your home warranty will instead fix it or replace it!
Plus, the seller will commonly pay for a year or two of your home warranty. You can ask your agent to negotiate it into the sale!
I’m gonna let you in on a little secret: even though the news says that the real estate market is changing, it’s actually a great time to buy and to sell.
That’s because real estate is a constant. People are always moving, which means that homes are constantly being bought and sold.
While outside pressures such as inflation, interest rates, and supply and demand change the day to day of the market, the way people need to buy and sell homes stays the same.
Another thing that stays the same is that homes appreciate in value over time. That means that today is the best day to start making your real estate investments.
Whether that means you need to buy your first home or sell your home to get into your dream home, send me a DM!
We can chat all about the real estate market and what you can do to be successful in real estate.
Kauai Alpha Fitt, REALTOR® SRES with Coldwell Banker Distinctive Properties in Grand Junction, Colorado.