Monday, August 19, 2019 / by Natasha McNealy
Buying a home is proven to be a great financial investment and often has a positive impact on your finances long term. If you are an interested first-time homebuyer, this is what you can expect to do and be prepared for, in the home-buying journey.
1. Preparing Your Finances - this step is absolutely crucial before you go any further in the home searching and buying process. By gathering up all of your finances, you will be able to understand what you can afford to pay each month (you should be able to comfortably pay your mortgage payment each month), have enough for a down payment (around 20%) and pay for closing costs. Your credit score is also very important when it comes to getting a mortgage loan, so if it is something that needs work, make it your priority.
2. Get pre-qualified for a loan - now that you took a look at your finances, it is time to find a loan that is right for you and your budget. Meeting with a lender will allow you to see what your options are, what you qua ...
Monday, July 22, 2019 / by Natasha McNealy
For the second year in a row, our beloved state of Idaho ranked as the country’s best state for homeowners in SmartAsset, a financial technology company’s annual analysis.
Their analysis consists of the following nine metrics in order to determine the best states for homeowners: average price per square foot, the one-year percentage change in value per square foot, median-value-to-median-income ratio, foreclosures per 10,000 homes, average effective property tax rate, median annual property taxes, average closing costs, average homeowners insurance and the burglary rate.
The statistics indicated that the state of Idaho is becoming more attractive and desirable to new residents. Price per square foot saw an increase of 12.12% from 2017 to 2018 and median property taxes were sitting only at $1,408.
Why does an analysis like this matter? Because homeownership is an important milestone and investment in your life. While you may not have thought much about relocat ...