homebuyers Archives - CENTURY 21 MarketLink Realty

The Pandemic Can’t Stop Military Home-Buyers – 5 Reasons VA Loan Usage is Surging

September 17, 2020 By C21 Communications

It comes as no surprise that the rise in COVID-19 cases rocked the housing market in more ways than one. Military homebuyers are facing new challenges in their search for a dream home. Yet, VA loan usage has surged in 2020 and is likely to hit record highs dating back to when the program started in 1944.

The VA loan has always been an attractive and beneficial mortgage option for many military borrowers, but there are a few reasons it is increasing in popularity during the pandemic.

They are safeguarded against foreclosures. One of the most important VA loan benefits during COVID-19 is the protection against foreclosures. Many mortgage lenders have foreclosure avoidance teams to ensure that veterans can keep their homes in times of financial instability, making this an attractive option for homebuyers financially impacted by COVID-19.
Mortgage rates hitting historic lows. Veterans and active-duty homebuyers are taking advantage of lower monthly mortgage payments and the VA loan’s competitive interest rates.
No down payment means more cash. Unlike many other mortgage options, one of the most significant benefits of the VA loan is the ability to purchase a home with $0 down. With financial hardships hitting many families, taking advantage of the no down payment provides more money in the bank and peace-of-mind for military members.
No PMI or monthly mortgage insurance. Unlike other mortgage options, VA loans don’t require either of these recurring, monthly charges. Military homebuyers can expect to save a couple of hundred dollars a month without these fees.
Limits on closing costs. This is to ensure that homeownership is affordable. While other mortgage options tack on fees during the closing, the VA adds another incentive by limiting what the buyer is required to pay.

Regardless of the circumstances, the VA loan is a powerful mortgage option that military homebuyers choose time and time again. Military homebuyers won’t be stopped by these uncertain times, and the VA loan is their key to purchasing the home of their dreams.

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4 Common Open House Mistakes Made by Home Buyers

December 21, 2015 By Casey Danton

When you’re looking for your dream home, how do you ensure that you’re getting exactly what you want? One easy way is to stop by open houses in your neighborhood. It’s easy to make a mistake during the complicated open house process, so here are a few things to avoid when attending an open house.

Don’t get distracted by the current state of the house.

Paint colors, carpets, and cluttered rooms can distract you from the way a home looks. When you enter a home and you don’t initially like the way it is decorated, don’t let it stop you from appreciating the architecture of the house. Ignore what’s inside and imagine it decorated with your furniture and photos.

Don’t believe everything you hear.

The homeowners you interact with may very well be interested in helping you find the right home, but at the end of the day, do your own research. You wouldn’t buy a used car without a history, so treat your potential new home the same way. Make sure you know everything, from past damage, to potential for any new problems in the future.

Don’t forget to ask questions.

On that note, make sure that you ask a LOT of questions. Don’t simply walk into a home and sign on the dotted line — that’s not the best way to make a huge investment. Ask questions about everything, from the current condition of the home, to details about the neighborhood. You’ll want to have as much information as you can before you purchase the house.

Don’t try to figure it out on your own.

Open houses can be confusing, so don’t walk in unprepared. The perfect weapon is having your own CENTURY 21© agent by your side! Agents are trained to attend open houses and see what is going on. They’ll know what to ask and look for even if you don’t.

Most importantly, don’t let an open house overwhelm you; it’s meant to be an easy way to see the home you’re interested in. This list can help you take the first steps in preparing yourself for your open house visits and ensure that you find the perfect place for you and your family.

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We Asked, You Answered: Advice for First-Time Homeowners

November 3, 2014 By CENTURY 21

Buying a home for the first time is exciting, but it can seem overwhelming because there are so many factors to consider. Potential homebuyers must excogitate the price of the home, the mortgage costs, neighborhoods, safety, and more. We posted on our Facebook page asking CENTURY 21 ® Agents for their best advice for first-time homebuyers.

Here are seven pieces of advice:

1. “After you get your mortgage approval, sit down and make a list of needs, must haves and wishes, work with a realtor who can find you your dream home.” —Denise F.

2. “Work with an agent that is experienced with first time homebuyers. There is a lot to know and navigate. A good agent is essential to making the transaction as smooth as possible.” —Toni M.

3. “Put together a really good Real Estate Agent, Mortgage Broker, Attorney team that will take the time to explain the entire process to their client. If they can explain it; they can do it.” —Ronald S.

4. “Work with a knowledgeable agent who cares about his or her clients, not just dollar signs. See your banking institution 1st. Ask a lot of questions. Consider the location. Hire a reputable home inspector! Arm yourself with knowledge and really think before you leap since it is one of the biggest decisions you will ever make. It is a key in avoiding buyers remorse!” -Cheryl C.

5. “Choose a quality agent, practice self-restraint, look at the quality and condition, not just how pretty it is, know your budget and your comfort level and, for heavens sake, if you are going to listen to everyone else’s opinion besides your agents then they should be with you on every showing, not just the house you want to buy!” -Paul S.

6. “I’m not a realtor but I wish someone would have told me to make practice payments. I jumped from $1500 per month to $2400 per month on my first house. The extra $900 wasn’t the big deal as much as everything else, utilities, yard maintenance, etc. I think making 6 months of increased payments while you are still renting, saving that money and putting it as a down payment would have helped me. I try to tell every person wanting to buy a new home that.” -Darin P.

7. “Pre-approval is step number one. Look at homes in your price range. Nothing worse than falling in love with a home you can’t afford.” -Linda Z.

For more great tips, check out our Facebook post and buying advice on our site then find a CENTURY 21® Agent who can help you find your home sweet home.

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We Asked, You Answered: Tips for First Time Homebuyers

April 17, 2014 By CENTURY 21

Buying a home for the first time can be difficult and overwhelming! You have to find a home you can afford and a home that you and your family love. There are so many factors like the price of property taxes, the school district, the crime rate, mortgages, and whether or not the home is a “fixer upper.” We posted a question on our Facebook page asking for your best tips for first-time homeowners. Read advice from CENTURY 21^® Agents and clients.

Here are five tips for buying a home for the first-time:

1. “Be realistic about what you can afford and what the home will look like within your budget. Don’t expect a $150,000.00 home to have all the bells and whistles a $300,000.00 home does.” – Susie F.

2. “Ask your C21^® agent for a reliable & trustworthy lender to get pre-qualified before starting your house hunt.” -Bill C.

3. “Get prequalified. Work with a REALTOR^® to find a great home. Once you find a home you like, visit the neighborhood in the evenings and weekends to see what it is like when more people are around. Check with local police department to find out about crime rates in area. After you have been prequalified, do not do anything that will adversely affect your credit score. Then be prepared to sign and initial a lot of paperwork.” - Audrey M.

4. “Find a GREAT CENTURY 21 Agent, get pre-qualified. Know what you’re looking for, but be ready to give a little if need be on your home expectations list.” -Lisa C.

5. “DON’T buy anything on credit until after you move into your new home.” -Eric G.

For more great tips, check out our Facebook post and buying advice on our site. Buying a home is an exciting milestone in your life. We hope that these tips will help you find your perfect home!