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...
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