a great way to increase your family’s net worth

a great way to increase your family’s net worth

Every three years, the Federal Reserve conducts its Survey of Consumer Finances. The latest survey data covers 2013-2016. The study revealed that the median net worth of a homeowner is $231,400 – a 15% increase since 2013. At the same time, the median net worth of renters decreased by 5% ($5,200 today compared to $5,500 in 2013).

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5 real estate reality tv myths explained

5 real estate reality tv myths explained

Have you ever been flipping through the channels, only to find yourself binging on HGTV? We’ve all been there, watching entire seasons of real estate reality tv shows like “Property Brothers,” “Fixer Upper,” and “Love It or List It,” all in one sitting.

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what you need to know about private mortgage insurance (PMI)

what you need to know about private mortgage insurance (PMI)

Whether it is your first time or your fifth, it is always important to know all the facts when it comes to buying a home. With the large number of mortgage programs available that allow buyers to purchase homes with down payments below 20%, you can never have too much information about Private Mortgage Insurance (PMI).

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your tax refund is the key to homeownership

your tax refund is the key to homeownership

Americans can expect an estimated average tax refund of $3,143 according to the IRS. This is down slightly from the average refund of $3,436 last year. Tax refunds can be considered extra money to use toward larger goals. For anyone looking to buy a home in 2019, this can be a great jump start toward a down payment!

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student loan debt is not a threat to home ownership

student loan debt is not a threat to home ownership

Over the course of the last thirty years, a shift has happened. An entire generation has been raised to believe that a college education (often accompanied with student loan debt) is their key to unlocking opportunities that were not available to their parent’s or grandparent’s generations.

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your first step to buying a house this year

your first step to buying a house this year

In many markets across the country, the number of buyers searching for homes outnumbers the number of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. You can show that you are a serious buyer by getting pre-qualified or pre-approved for a mortgage before starting your search.

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is it time to upgrade your starter home?

is it time to upgrade your starter home?

It may seem hard to imagine that the first home you purchased might not be the home that will allow you to achieve the rest of your dreams. However, first-time home buyers don’t always consider the differences between starter homes and forever homes. A starter home is a great means to enter the market. You spend less now so you can save more and upgrade when the time (and rates) are right. Buying a forever home for your first purchase generally means spending more upfront to care for your needs long term. Both have their advantages, but starter homes are the typical choice for new buyers. This means that admitting your home no longer suits your needs is not only ok, it’s normal.

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do you need 20% down to buy a home? no.

do you need 20% down to buy a home? no.

The Aspiring Home Buyers Profile from the National Association of Realtors (NAR) found that the American public is still somewhat confused about what is required to qualify for a home mortgage loan in today’s housing market. The survey shows that the main reason non-homeowners do not own their own homes is that they believe they cannot afford them.

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