09 Aug 2024
By 24hr Mortgage

Exploring Alternative Paths to Homeownership

Home Buyer Tips, ,
Purchasing a home is a significant milestone, and traditional mortgages aren't the only route to achieving this dream. For many homebuyers, especially those who may face challenges with conventional financing, exploring alternative financing options can be a game-changer. We will discuss three creative financing options: rent-to-own, lease-purchase agreements, and shared equity arrangements. Rent-to-Own: Bridging the Gap to Homeownership First and foremost, let's discuss rent-to-own arrangements. This option allows potential buyers to rent a home to purchase it after a set period. During the rental phase, a portion of the monthly rent may go toward the future purchase price. This method…
Read More
16 Jul 2024
By 24hr Mortgage

Understanding Warrantable vs. Non-Warrantable When Purchasing a Condo

Home Buyer Tips, ,
When you're shopping for a condo, there's a bit more on your plate than just the typical homebuying concerns like credit scores, interest rates, and loan programs. A crucial aspect is understanding the role of the Homeowners' Association (HOA) and whether the condo is warrantable or non-warrantable. This distinction can significantly impact your mortgage process and future as a condo owner. Warrantable Condos: What You Need to Know A condo is considered warrantable if it meets the standards set by Fannie Mae and Freddie Mac, the two main government-sponsored entities in the mortgage industry. These entities buy mortgages on the…
Read More
26 Apr 2024
By 24hr Mortgage

Making Homeownership a Reality: Exploring Affordable Housing Initiatives

Home Buyer Tips, ,
In the realm of real estate, the dream of homeownership often feels like a distant horizon for many individuals and families. Skyrocketing property prices, coupled with stagnant wages, have created significant barriers to entry into the housing market. However, amidst these challenges, there is a glimmer of hope in the form of affordable housing initiatives. These strategies aim to break down the financial barriers and make homeownership accessible to a wider range of people. In this blog post, we'll explore some innovative approaches that are reshaping the landscape of affordable housing. 1. Government Subsidies and Grants One of the most…
Read More
12 Apr 2024
By 24hr Mortgage

Find Something Wrong During a Home Inspection? How to Discuss Repairs or Defects with a Seller

Home Buyer Tips, ,
When it comes to selling a home, it is a common belief that once the offer is accepted, there is nothing else to be negotiated. However, issues and obstacles that can arise during the home inspection can be a cause for discussion with the seller. Whether you're currently searching for houses or your offer has already been accepted and you're preparing for the next step, here are some tips in the event that the home inspection isn't up to par. Be Cautious About What You Say Without a doubt, anything that you discuss with the real estate agent regarding the…
Read More
20 Mar 2024
By 24hr Mortgage

Protecting Your Home and Finances: How to Spot Mortgage Scams

Home Buyer Tips, ,
Buying a home is one of the most significant financial investments many of us will ever make. It is crucial to be vigilant against mortgage scams that can threaten your financial security and homeownership dreams. Mortgage scams come in various forms, but with awareness and caution, you can protect yourself from falling victim to fraudsters. Understanding Mortgage Scams Mortgage scams can take many shapes and forms, but they often share common traits aimed at exploiting unsuspecting homeowners or potential buyers. Some of the most prevalent mortgage scams include: Foreclosure Rescue Scams: Fraudsters target homeowners facing foreclosure by offering to help…
Read More
31 Jan 2024
By 24hr Mortgage

First Things First, What To Do Upon Moving Into Your New Home

Home Buyer Tips, ,
If you have purchased a new home and are going to move in soon, what are the first few things that you will need to do upon moving into your new home? Moving can be very stressful, but having a checklist can make your move to a new home effortless. Here are 6 easy steps that can eliminate any frustration and help you feel safe and secure:  Change Your AddressYou will need to change your address for all magazine subscriptions, bills, and other services. You can update your mailing address online or visit your local post office to find out…
Read More