Category Archives: Home Buying
How to Brace for Increasing Housing Prices: A Guide for Homeowners and Renters
Have you noticed your insurance bills skyrocketing lately? If so, you’re in good company. According to Policygenius, the average home insurance premium rose by 21% between May 2022 and May 2023. Combine this with increasing housing prices, property taxes, and high interest rate debt, and it’s no wonder why so many Americans are struggling in… (read more)
Posted In: Guest Blog, Home Buying
Stay or Go? – Home Equity vs Mortgage
Flashy new homes decked out with the latest design trends. You’re spotting them as you cruise through your city. You’re seeing them while idly scrolling Zillow. And they are definitely making an appearance on your favorite HGTV shows. It’s easy to feel like you’re missing out when you see a slick new construction. Could a… (read more)
Posted In: Home Buying, Lending
Is This a Good Time to Buy a House?
Is this a good time to buy a house? You might be worried about interest rates that are still high, or maybe you heard that housing inventory is low. While those are factors, a lot more goes into determining if you’re ready than just the current housing market. Purchasing a house is a significant milestone… (read more)
Posted In: Home Buying, Lending, Lending
Buying a House in 2024 – How to Make the Most of Your Mortgage
If you’re already searching, you probably know that buying a house in 2024 is a stressful prospect. Interest rates are still high at the moment as the Federal Reserve continues efforts to minimize inflation. And while we’ve heard that rates are likely to drop during the year, the question of when and how much is… (read more)
Posted In: Home Buying, Lending
Hidden Costs of a DIY Home Remodel
Gloves? Check. Safety goggles? Check. Hammer hanging off of your carpenter jeans? Check. You’re ready to fulfill your HGTV dreams and dive into a much-needed DIY home remodel project. You’re going DIY with this because A) it will save on the cost, and B) you’ll have fun doing it. You’ve carefully budgeted for your project,… (read more)
Posted In: Home Buying, Lending, Tips For Managing Finances
How This Rising-Rate/Low Inventory Housing Market Is Right For You
With the housing market on a proverbial roller coaster, it’s hard to know whether to buy a house now or wait until interest rates decline. In a recent study from Fannie Mae, 79% of those who responded stated that it’s a bad time to buy a house. However, it doesn’t all need to be doom and… (read more)
Posted In: Home Buying, Mortgage
Five Reasons to Use a Credit Union for your Mortgage
If you know anyone who has recently tried to buy a house, you know what a challenge it can be. Due to the economy, interest rates are climbing, and it isn’t easy to find a reasonable interest rate in this market. While there are many options for acquiring a mortgage, people often overlook that their… (read more)
Posted In: Home Buying, Mortgage
The Ultimate Mortgage Abbreviation Cheat Sheet
Here’s a little trade secret: financial institutions LOVE acronyms. No, not LOL and FOMO, but more like FICO and LTV. Not to worry. At FFCCU (that’s Firefighters Community Credit Union, BTW), we’ve compiled the ultimate list of mortgage abbreviations and mortgage acronyms that you might come across when applying for and filling out all the… (read more)
Posted In: Home Buying, Mortgage
What’s the Best Choice: Paying off a Mortgage or Investing?
Are you wondering if paying off your mortgage early or investing is a better choice in the current economic climate? Nichole Coyle, Certified Financial Planner™, has some answers to help guide your decision. Why It May Make Sense to Pay off Your Mortgage Early: 1. You have a high-interest rate and refinancing to a lower… (read more)
Posted In: Guest Blog, Home Buying, Mortgage, Tips For Managing Finances
8 Documents You Need for a Mortgage Application
In this competitive market, you may be rushing to finish a mortgage application to secure the house of your dreams. However, if you want to get ahead, you’ll need to collect the correct documents, so your process is as smooth as possible. Here are eight documents you need for a mortgage application. 1. Tax Returns,… (read more)
Posted In: Home Buying
