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First-time home buyers

If you’re a first-time home buyer these articles are chock full of advice that will give you the added “edge” when buying your first home. From finding your dream home online, negotiating a purchase contract, securing the best financing, to tips for a stress-free closing, you’ve now found your #1 first-time home buyer resource.

So WELCOME, check things out and visit often…you are well on your way to owning your first home!

Stephen Katz

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Harvard University’s Eric Belsky, who is the Managing Director of the Joint Center of Housing Studies at Harvard University and also serves on the editorial board of the Journal of Housing Research and Housing Policy Debate, shared a paper on homeownership last year. It is entitled – The Dream Lives On: the Future of Homeownership in America and within it he explores five financial reasons he thinks people should keep in mind when shopping for a home. Read More »

Now is the Time for Buyers to Have Cash Ready

posted by Stephen Katz
Friday, November 14, 2014

Recently there was a downturn in existing home sales. Some are speculating that this is a result of fewer individual cash investors. However, this can easily be a great entry point for other buyers, according to the National Association of Realtors. Read More »

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Many are looking at the money in their 401(k) along with the increase in home prices and wondering if they should use some of those funds. Read More »

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How Do You Define Earnest Money?

posted by Stephen Katz
Thursday, October 9, 2014

It is a deposit paid toward the purchase of a home, to illustrate to the seller how serious you are about buying the property. Read More »

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Problems Associated With Excessive Debt

posted by Stephen Katz
Thursday, October 2, 2014

Many Americans, including myself, carry a small and manageable amount of credit card debt. There is nothing wrong with this. It is when you have an excessive level of debt in relation to your monthly income, that you can hurt your chances of getting approved for a mortgage loan. Read More »

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Your Debt-to-Income Ratio (DTI)

posted by Stephen Katz
Tuesday, September 30, 2014

This ratio can make or break your loan approval, as it is one of the largest qualification criteria used for home loan applicants. When you apply for a mortgage, one of the first things the lender will do is check your debt-to-income ratio, or DTI. Read More »

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Mortgage Insurance – What Does it Cost?

posted by Stephen Katz
Thursday, September 25, 2014

There are two basic types of coverage. The first type is private mortgage insurance (PMI) policies, which are applied to conventional home loans. The federal government does not insure Conventional or “regular” loans. The second type is for those borrowers who use government-insured FHA loans. Read More »

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As a home buyer, you should be concerned with the amount of credit card debt you have as it can directly affect your ability to get a home loan. Read More »

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It is important to follow all the steps in the correct order when considering purchasing a house. Inventory is currently tight, which means the market is good for sellers, and a little bit more difficult for buyers. In this market buyers have to be on top of their game when choosing a house; if they wait to make an offer, chances are the house will be gone and under contract with someone else. Read More »

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Smart Tips for First Time Homebuyers

posted by Stephen Katz
Friday, May 9, 2014

As a first time homebuyer, it’s important to take the time to research and plan every step of the home buying process. From confirming that you are financially ready down to making the final offer, here are a few things to keep in mind that may help you along the way. Read More »

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