The Average Homeowner Gained $64K in Equity over the Past Year

Written by Daytona Beach Mortgage Syndicated User on June 28, 2022. Posted in Daytona Beach Condo Financing, Daytona Beach Mortgage, Daytona Beach Mortgage Rates, For Sellers, Housing Market Updates, Move-Up Buyers, Pricing.

If you own a home, your net worth likely just got a big boost thanks to rising home equity. Equity is the current value of your home minus what you owe on the loan. And today, based on recent home price appreciation, you’re building that equity far faster than you may expect – here’s how it works. Because there’s an ongoing imbalance between the number of homes available for sale and the number of buyers looking to make a purchase, home prices are on the rise. That means your home is worth more in today’s market because it’s in high demand. As Patrick Dodd, President and CEO of...

Things To Avoid After Applying for a Home Loan

Written by Daytona Beach Mortgage Syndicated User on June 28, 2022. Posted in Daytona Beach Condo Financing, Daytona Beach Mortgage, Daytona Beach Mortgage Rates, First Time Home Buyers, For Buyers, Move-Up Buyers.

Once you’ve applied for a mortgage to buy a home, there are some key things to keep in mind. While it’s exciting to start thinking about moving in and decorating, be careful when it comes to making any big purchases. Here are a few things you may not realize you need to avoid after applying for your home loan. Don’t Deposit Large Sums of Cash Lenders need to source your money, and cash isn’t easily traceable. Before you deposit any amount of cash into your accounts, discuss the proper way to document your transactions with your loan officer. Don’t Make Any Large Purchases It’s not just...