The economic fallout from the orchestrated coronavirus pandemic has been felt in almost every sector of the economy, and the US housing market is no exception. In June 2020, the value of US homes topped out at an impressive $47.7 trillion, but since then there has been a steep decline in both numbers and percentages. According to Redfin, the total value of US homes dropped by $2.3 trillion or 4.9% over the...
by The Offer Company 
Housing inventory was thin going into the pandemic and has remained that way into 2021. Part of the reason is that homeowners who would have put their house up for sale in a normal year, held back. With low interest rates continuing to drive demand and low inventory keeping the market extremely competitive, the simple economic laws of supply and demand have led to rising home prices amidst a...
Buying a home can be a lengthy process. So, it’s understandable that once you’ve provided all the proper documentation to your lender, you feel like you can relax a bit an enjoy the more fun parts of buying a house. But, if you’ve got a big purchase in mind–maybe some new furniture and electronics–think twice. It’s important that once you’ve completed the application and the...
The number of self-employed individuals across the country continues to grow, with an estimated 16 million people opting to be their own boss. While the gig economy is booming and self-employment has become increasingly commonplace, the hurdles faced with obtaining a home mortgage remain. Ask any lender and you’ll learn the stark truth: it’s easier to qualify when you can show a W-2. That...
Applying for a mortgage as a first-time homebuyer seems so simple these days. Upload some information online, hit submit and you’re good, right? Maybe not so fast. There are certain questions you can expect to be asked in one form or another, whether it’s during your online app or in follow up. It’s always best not to be blindsided, so here is a heads up on what you’re likely to be...
Getting your financial house in order before applying for a mortgage includes a lot of things, from saving your down payment to pulling together your paystubs. But one thing that may not be so evident is the need to pay down credit card debit and avoid opening new lines of credit. That’s because too many open lines of credit and balances that are over 30% of your available credit limit can...
