Mortgage, Financing, Credit

Mortgage, Financing, Credit

There are currently 97 blog entries related to this category.

January 2024 - MVP - New Year, New Home for Jean-Luc Andriot blog 012624"

Buying a home in 2024? Here are 5 steps to take now.
We can help you get started with a free consultation.

1. Check your credit score
2. Shop for a mortgage
3. Set a budget
4. Make a list of the features you care about most
5. Find a real estate agent you trust

#homebuyertips #firsttimehomebuyer #newyearnewhome #realestateagent #BocaRaton #LuxuryRealtor #BocaRatonLuxuryRealtor #JeanLucAndriot #TopRealtor #BocaRatonPremierProperties #1KW #KellerWilliams #RealEstate #LuxuryRealEstate #KWLuxury #KWLuxuryOfficial

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October 2023 - Jean-Luc Andriot - Blog Post Image for Jean-Luc Andriot blog 100223

If the thought of investing your money into brick and mortar—or perhaps some stylishly-painted siding—excites you, join the club.

Investing in real estate has long been one of Americans' favorite ways to grow their wealth. In fact, over 70% of single-family rental properties are currently owned by individual investors rather than corporations, according to Census data.1

Moreover, a decade's worth of Bankrate surveys has found that Americans often prefer real estate for long-term wealth building over other investments. According to Bankrate's latest survey, for example, Americans have historically embraced real estate, in part, because of the strong return on investment it can offer—especially to investors willing to stick with a property over

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Do you know your credit score. If the answer is no, don’t sweat it for Jean-Luc Andriot blog 080823

There are plenty of ways to get your FICO Score and/or VantageScore for free online. Knowing your credit score is the first step to protecting it. 

In the complex world of personal finance, your credit score is one of the most important numbers that can significantly impact your financial well-being. Whether you're looking to buy a home, get a car loan, or even apply for a credit card, your credit score plays a pivotal role in determining your eligibility and the terms you'll receive. If you're unsure about your credit score, fret not! In this blog, we'll explore the significance of knowing your credit score, how to access it for free online, and why it's the crucial first step toward safeguarding your financial future. 

Understanding Your Credit

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August 2023 - Jean-Luc Andriot - Blog Post Image for Jean-Luc Andriot blog 080223

To avoid buyer's remorse, be sure to consider your future self when shopping for a home.

Most new homebuyers don't regret becoming homeowners. In fact, according to a survey by LendingTree, 80% of recent buyers who successfully overcame a challenging housing market say they're glad they found their current homes.1 But that doesn't mean newly-minted homeowners don't have any regrets about their buying choices.

On the contrary, research shows that even the most-satisfied homeowners would change some aspects of their home purchase if given the opportunity. According to a recent survey by Anytime Estimate, nearly 3 out of 4 buyers who purchased a home in 2021 or 2022 still have a few regrets.2

Some question their decision to move to a neighborhood

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June 2023 - Jean-Luc Andriot - Blog Post Image for Jean-Luc Andriot blog 060123

There’s an old adage in real estate: location, location, location. But ever since the Federal Reserve began its series of inflation-fighting interest rate hikes last year, a new mantra has emerged: mortgage rates, mortgage rates, mortgage rates.

Higher rates had the immediate impact of dampening homebuyer affordability and demand. But this year, we’re seeing further repercussions. While analysts expected listing inventory to swell as sales declined, instead, homeowners have been pushing off plans to sell because they feel beholden to their existing, lower mortgage rates.

So what impact is this reduced demand and low supply environment having on home values? And what can we expect from the real estate market in the coming months and years? Here are

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May 2023 - Jean-Luc Andriot - Boomers Buy the Most Homes for Jean-Luc Andriot blog 050823

As the baby boomer generation enters retirement age, they are now the largest generation of home buyers and sellers. Baby boomers, born between 1946 and 1964, have a significant impact on the real estate market. In this blog post, we will explore why baby boomers are dominating the housing market and what this means for the future of real estate. 

One reason why baby boomers are the largest generation of home buyers and sellers is simply due to their size. According to the U.S. Census Bureau, there are currently around 73 million baby boomers in the United States, making up about one-quarter of the population. As a result, their impact on the housing market is significant.

Another reason why baby boomers are dominating the housing market is that

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May 2023 - Jean-Luc Andriot - How to Become a Homeowner for Jean-Luc Andriot blog 050123

It's not easy being a first-time homebuyer right now. At the end of last year, housing affordability hit an all-time low.1

Additionally, mortgage rates have risen significantly since 2021, while inventory remains tight for many property categories, but especially for starter homes. Even lower-priced condos are harder to snag these days, as investors and downsizers muscle out first-timers by offering stronger, often cash-heavy bids.2

In fact, according to the National Association of Realtors, only 26% of last year's homebuyers were first-timers—the lowest share on record and down from 34% a year prior. This underscores just how steep a hill new buyers are facing.3 As a result, many first-time homebuyers are finding that they need to get creative or

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Mortgage rates are going to change May 1st 2023 for Jean-Luc Andriot blog 042423 If you're looking to buy a home, be aware that mortgages will change next month. Starting May 1st, upfront fees for loans backed by Fannie Mae and Freddie Mac will be adjusted.

Attention homebuyers: If you're planning to purchase a new home, keep in mind that mortgage fees will be changing from May 1st. Starting next month, Fannie Mae and Freddie Mac-backed loans will undergo adjustments in upfront fees due to changes in the Loan Level Price Adjustments (LLPAs). The fees vary depending on a borrower's credit score, downpayment amount, type of home, and more. The upcoming changes are related to credit scores and downpayment sizes, which may result in higher fees for some borrowers with higher credit scores and lower fees for those with lower credit

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January 2023 - MVP - 2023 New Year's Resolutions for home buyers for Jean-Luc Andriot blog 012323

New Year’s Resolutions for Homebuyers
Thinking about buying a home in 2023? Add these resolutions to your list.

1. Check your credit score. This number is essential to landing a mortgage, so it’s important to know where you stand. Many credit card companies and banks allow you to check for free!

2. Pay down debt. The amount of debt you hold affects both your credit score and the amount you are eligible to borrow. The less you owe at the time of purchase, the better!

3. Save up for a down payment. The more you can offer, the more options you’ll have—but don’t forget to set some money aside to cover closing costs and moving expenses.

What else do you need to do to prepare for a home purchase? Reach out for a free consultation.

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January 2023 - Jean-Luc Andriot - Good News for Mortgage Rates in 2023 for Jean-Luc andriot blog 011723

Throughout 2022, mortgage rates climbed rapidly, forcing many homebuyers to rethink their budgets. 
But there’s good news on the horizon in 2023. Experts predict that rates will fluctuate much less this year – and could even trend down.

Visit our latest blog post for details and to find out how home sales and prices will be impacted in the coming year.

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