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How Homeownership May Just Help Your Retirement

[fa icon="calendar'] Nov 18, 2016 2:46:25 PM / by Eustis Mortgage posted in mortgage news, homeownership, retirement

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Owning a home is one of the greatest investments you’ll make in your lifetime. Owning that home for a long period of time, however, may just ensure that you get the most out of your prior investment. According to a recent study by Urban Institute, leveraging the equity of your home at an older age can significantly grow your retirement funding, as retirees can then sell their homes for a profit or use their home equity line of credit to increase personal funds. After all, the housing market is one of the nation’s greatest investment arenas, making older American homes highly valuable assets in today’s market.

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Why Aren't Buyers Motivated to Buy in Such a Great Market?

[fa icon="calendar'] Apr 13, 2016 1:47:02 PM / by Eustis Mortgage posted in homeownership, first time homeowner, buying vs. renting

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More first-time buyers are motivated by emotional factors rather than financial factors when making the decision to buy a home, a report found.

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203K Streamline and Standard Loans

[fa icon="calendar'] Apr 12, 2016 3:35:49 PM / by Eustis Mortgage posted in standard loans, homeownership, tips, 203K Streamline, loans

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The Federal Housing Administration (FHA) 203k loans are immensely popular renovation loan products available to well-qualified borrowers looking to purchase either a fixer-upper or a home that just needs one or two additions to be “perfect”.

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Renovation Loan Candidates

[fa icon="calendar'] Apr 12, 2016 3:14:30 PM / by Eustis Mortgage posted in loan candidate, homeownership, tips, renovation

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In your house hunting journey, you’ve likely encountered a property that’s perfect in every way — except for that one thing. Maybe it’s a slightly (or really) outdated kitchen, one too few bedrooms, or some minor to moderate termite-induced damage to the sill plate. Here in central Louisiana, wet basements are quite common and a home inspector will likely discover black mold and other allergens as a result.

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Understanding Renovation Loan Payments

[fa icon="calendar'] Apr 12, 2016 2:57:45 PM / by Eustis Mortgage posted in homeownership, tips, loan payments, renovation

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Payments on your renovation loans really aren’t fundamentally different from a conventional mortgage payment. Each month, a portion of the monies allocated will go to paying down the principal amount borrowed, another portion will go to paying interest over the lifetime of the loan. A portion of the original borrowed amount will be held in escrow to pay the various contractors and vendors who are working on your renovation and construction project.

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The Biggest Homebuying Concerns and How To Get Over Them

[fa icon="calendar'] Apr 12, 2016 2:56:04 PM / by Eustis Mortgage posted in homeownership, tips, first time homeowner

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Buying a home is a major financial decision. There’s no doubt about it. You have to carefully consider your financial readiness, mitigate any potential loss in value if the housing market takes a turn, prepare for unexpected expenses (houses need care and feeding, too!) and, even after all that planning and preparation, homebuyers wake up in the middle of the night fearful they’ve made the wrong decision.

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Why Now Is The Best Time For A Renovation Loan

[fa icon="calendar'] Apr 12, 2016 2:30:58 PM / by Eustis Mortgage posted in homeownership, housing market, real estate market

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Do you have a home improvement project that you’ve had in your sights for a while, but something is holding you back — like the perception of a flat real estate market?

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Homeowner Expenses that Renters Don't Know About

[fa icon="calendar'] Apr 12, 2016 12:03:21 PM / by Eustis Mortgage posted in homeownership, expenses, first time homeowner, buying vs. renting

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Homeownership is, for many, the culmination of the American Dream and a major rite of passage. We’ve written many times on this very blog that the fastest path to building financial wealth is — you guessed it — owning a home.

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