Pre-Qualification

What's Going On with Mortgage Rates?

What's Going On with Mortgage Rates?

Mortgage rates have been increasing lately. It can be very frustrating as a prospective home buyer, but there is good reason for it. This blog post explains why interest rates are increasing, who is responsible for causing these rates to increase and why it isn't the worst thing ever (albeit frustrating). While rates were bumped a couple of times at the end of 2016, we're expecting them to be raised more than once in 2017. If you're worried that these rising interest rates are going to keep you from buying, don't fret- the increase is pretty nominal on an average house, but I would certainly recommend talking to mortgage lender about your borrower power before you file your taxes next month. A good lender can suggest some things that can have a big affect on your borrowing power later down the line. As always, remember me if you're interested in buying or selling residential, investment or commercial real estate in Charleston!

Are You Still Renting? STAHHP!

Are You Still Renting? STAHHP!

The Charleston are's population has been burgeoning. Everyone knows it. It's partly due to the fact that our little city is so livable, but it is also due to the heavy influx of industry that we're currently seeing. I think new industry should be welcomed with open arms to strengthen our local communities. However, when you experience an influx of new residents, you will certainly see an affordable housing shortage. That has been the case here in Charleston recently. Unfortunately, house prices have skyrocketed and that has made many millennials unable to buy. They have to resort to renting and the rental rates in the area have been increasing just as aggressively as home prices. Today's post is about why it is impractical to continue renting in today's market. I know it isn't easy to buy a home, so we will follow the previous statements up with some information on how you CAN buy a home more easily than you think you can.

First-Time Buyers Sacrifice Conveniences

First-Time Buyers Sacrifice Conveniences

I know I write an awful lot about millennials. But, I'm a millennial and millennials are quickly becoming the most potent group of consumers the world has ever seen. Just look at contemporary marketing or product design and you will see that everyone is aiming their volleys at us millennials. Whether you love us or hate us, we're here to stay. And we're starting to buy houses. Unfortunately, many millennials carry an astounding amount of student loan debt, which is hindering their ability to purchase their preferred homes. Fortunately, millennials are willing to sacrifice a number of things in order to get themselves into houses and achieve that American dream. This post discusses a number of sacrifices that millennials are willing to make in order to purchase their first home. Remember me if you're interested in buying or selling residential, commercial or investment real estate in Charleston, SC!

This is How to Calculate Your Monthly Mortgage Payment

This is How to Calculate Your Monthly Mortgage Payment

Calculating your mortgage is a little bit more complex than just figuring out the principal and interest. Most shoppers do not figure their insurance and taxes into the equation when considering buying a property. The old acronym for your total monthly obligation is PITI (principal, interest, taxes and insurance). This blog post walks your through the process of how to figure out your entire monthly mortgage obligation (minus utilities, etc.). Remember me if you're interested in buying or selling residential, commercial or investment real estate in Charleston, SC!

Want to Buy a House? Please Get Pre-Approved.

Want to Buy a House? Please Get Pre-Approved.

Buying a house can be a very confusing process. Getting a mortgage can also be a very confusing process. One way to increase your chances of success in both of these endeavors is to go speak to a mortgage lender early in the process and get a "pre-approval" letter or a "pre-qualification" letter. As a buyer, you will want to talk to your lender very early in the process to make sure you can even qualify for a mortgage and to also learn how much home you can afford. Knowing your limits from the very beginning will make your experience much less disappointing. Another primary reason to get one of these letter is that almost every single seller and their listing agent will require you to submit one of these letters with your offer in order to even consider your offer. The reason they do this is because they want to know that you've spoken to a mortgage lender and that you are prepared and capable of buying their home. I have see many, many transactions fall apart because the buyer did not speak to their mortgage lender early in the process only to be greatly disappointed when they are refused a mortgage or can not afford as much as they expected after finding their dream home. Remember me if you're interested in buying or selling residential, commercial or investment real estate in Charleston, SC.