We all can agree, there’s no place like home for the holidays, but often times, our housing payments can come with a price tag. Homeowners and renters: what would you do without a mortgage or rental payment the first month of 2019? Pay off your Christmas presents? Apply it towards other bills? Put it in savings? Take a much needed...
The first step was buying your first house, and you felt the benefits: your credit score continues to increase, and during tax season, you can write off 12 months of interest and keep a huge chunk of cash to yourself, not to Uncle Sam. You feel the pride of home ownership as you pull into your driveway each evening. Now, ask yourself, is there...
How often do we make a 30-year commitment? A partner? Our children? A career? For majority of us, 30 years sounds like an eternity. In terms of purchasing a home, a 15-year loan is a bit more comforting over a 30-year: lower interest rates, and of course, cutting the time frame of paying off your mortgage in half. On the flip side, the downfall of...
Platinum Home Mortgage‘s CEO, William Giambrone, met with Congress for the 3rd time this year. Representing the Community Home Lenders Association, William’s goal is help support Congress and other federal agencies implement new strategies to make housing and the American Dream more affordable and accessible to all. Some of the topics...
One of the many perks to home ownership: building equity. According to CNBC, today’s homeowners have the highest amount of total accumulated equity in their homes ever recorded, sitting at $5.8 trillion. With home values steadily on the rise, homeowners built an average of $14,700 alone within the last year and have about $113,900 available...
Homeowner AND mortgage insurance?! What’s the difference and why are you paying for both? To put it in layman’s terms, one protects the house and the other protects the mortgage. Read on for mortgage insurance and homeowners insurance explained: What is mortgage insurance? Mortgage insurance is a small percentage added to your monthly...
One of the many factors of what makes certain cities and neighborhoods “hot markets” is the school district, and that very factor also plays a role in purchasing a home for many Americans looking to start a family or already have children. After losing bidding wars on hot homes in desirable neighborhoods, so many throw in the towel and resort...
In an age with the world at our fingertips, its no surprise that artificial intelligence is dabbling into many industries we used to depend on actual human interaction. The latest is home iBuyers, real estate companies that instantly buy homes for cash then are placed back on the market. Since Opendoor started it all in 2014, iBuyers in real...
It comes to no surprise that 98% of consumers shop on Amazon (at least sometimes), and 48% of them have an Amazon Prime account. Now, Amazon users aren’t just using the retail giant to purchase the fast, 2-day shipping of everyday items. Some say Amazon has taken complete control over the lives of consumers (and the world), others argue that...
When shopping for a home loan, buyers are usually focused on 2 things: what’s my rate going to be and how much is the mortgage insurance. However, in a lot of scenarios when qualifying for both FHA and Conventional, the real monthly payment can be close to the same. Then, what would you focus on next? The down payment, or more importantly, how...
Pinching pennies. Milking a dollar out of every dime. Live within your means. Whatever you want to call it! The fact that majority of Americans are spending 37% of their income on housing makes the popular saying, “freedom is priceless,” kind of an oxymoron, doesn’t it? Your own space comes with a pretty hefty price tag. Using...
The struggle is real for Americans seeking to buy their first home. Saving for a down payment still holds the number 1 spot for obstacles when looking to purchase a home. Let’s face some of the facts: 70% of renters cite the down payment as a greater barrier to home ownership than debt, job security and qualifying for a mortgage 20% down...
The average homeowner pays $2,197 a year in real estate property taxes annually, tacking on about $183 to their monthly mortgage payment. However, the average property tax payment can be 5x higher than the average in states such as New Jersey, New York, and Illinois. View the median highest and lowest property taxes in the graph...
President Donald Trump’s “Tax Cuts and Jobs Act” was officially signed into law on December 22, 2017 with 4 goals in mind: 1. tax relief for middle class 2. simplify the tax code 3. grow the American economy 4. avoid adding to national debt While that all sounds fine and dandy, many Americans are still confused and afraid of the...
With inventory low right now, what’s better? Buying a home you kind of like, or buying a home of your dreams? With a HomeStyle® (Fannie Mae) or 203k (FHA) renovation loan, it doesn’t matter if you purchase the mediocre property on the block, or in other words, like it a lot or a little. You can get a property in your price range...
There’s no better feeling than handing over the keys to a well-deserved family or individual of your community—especially if they felt the American Dream of home ownership was never in the cards. Regardless if you lock your office door each day, knowing you helped make good change in someone’s life, working with the wrong lender can still...
Who cares what social media millennials use most? Why is that all we ever hear about? Has anyone actually taken the time to figure out who a millennial is? Sometimes, people forget that millennials watched their parents take a beating in the real estate market, and it doesn’t take a rocket scientist to figure out why they delayed the beginning...
Debt. Majority of us have it, sadly. With life’s milestones we want to accomplish, it’s almost inevitable: buying a car, education, marriage, furniture for your new home, etc. Are these milestones or life events keeping you from buying a home? Lowering your DTI seems easier said than done, right? The number one way to keep debt low...
There are two types of movers: prepared and well… not so prepared. Regardless, moving is a royal pain. It’s costly and stressful! What do I need to take? What do I need to throw away? Which moving companies are trustworthy? Use the guides below for tips on how to make your move as smooth as possible: Let PHMC pay for your moving...
Adults working full time in the United States report working an average of 47 hours per week (almost 6 days a week)! How do we keep our sanity? VACATION & TOYS are always a great place to start. Sorry kids, these 16 toys are for adults this time! • For your cabin in the woods 🌲: 1. Outdoor hot tubs Who doesn’t want a hot...
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