Mortgage, Financing, Credit

Mortgage, Financing, Credit

There are currently 86 blog entries related to this category.

September 2022 - Jean-Luc Andriot - Household Expenses  for Jean-Luc Andriot blog 093022

Eager to slash household expenses? Look no further than your unused subscriptions.
It’s easy to get lured by subscription services that seem inexpensive.
But all that money adds up!
According to C+R Research, most consumers spend more than $200 on subscriptions every month (yikes!). And 42% admit that they’re still paying for subscriptions they never use.

Cutting back on subscription services could help you save to meet bigger goals. Sift through your automatic payments to see which ones deserve a goodbye — and you can say hello to improved money management.

Do you have some sneaky ways to save on household expenses? We’d love to hear them!
Share if you dare! 

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September 2022 - Jean-Luc Andriot - Raise Your Credit Score for Jean-Luc Andriot blog 092322

Thinking about buying a home? It’s time to check on your credit score.

A good credit score shows lenders that you are a safe investment.
The higher your score, the lower the rates you’re likely to qualify for.

1. Limit your credit applications
2. Avoid closing old accounts
3. Make future payments on time
4. Pay down credit card balances
5. Fix errors on your credit report

But don’t panic if your rate isn’t there yet! You can improve it through a few key steps, and over time, that score will start to climb!

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September 2022 - Jean-Luc Andriot - Homeowners Insurance for Jean-Luc Andriot blog 090922

Cover your castle day and “knight” with the right homeowners insurance!
Before you purchase or renew your homeowners insurance policy, make sure you get answers to these five important questions.

1- Is the policy limit high enough to cover the cost of rebuilding my home?

2- In the event of a loss, will I be reimbursed for "replacement cost" or "actual cash value"?

3- Are there any gaps in coverage?

4- How would a higher or lower deductibe impact my premium?

5- Do I qualify for any discount?

Being protected is good, but knowing you’ve chosen the best policy for YOU is better!
Reach out for a referral!

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September 2022 - Jean-Luc Andriot - Blog Post Image for Jean-Luc Andriot blog 090622

Mortgage rates have been on a roller coaster ride this year, rising and falling amid inflationary pressures and economic uncertainty. And even the experts are divided when it comes to predicting where rates are headed next.1

This climate has been unsettling for some homebuyers and sellers. However, with proper planning, you can work toward qualifying for the best mortgage rates available today – and open up the possibility of refinancing at a lower rate in the future.

How does a lower mortgage rate save you money? According to Trading Economics, the average new mortgage size in the United States is currently around $410,000.2 Let’s compare a 5.0% versus a 6.0% fixed-interest rate on that amount over a 30-year term.

Mortgage Rate

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What is a HELOC for Jean-Luc Andriot blog 081822

With home values having risen dramatically in the last few years, many homeowners are looking for ways to tap their equity without selling their home or refinancing their primary mortgage. If your home has gained significant value since you purchased it, or you’ve just paid so much of the mortgage down that you’ve got ample equity to work with, a second mortgage on your home might make sense.

Home Equity Lines of Credit (HELOCs) are popular options for homeowners in this very situation. They’re flexible loans which give you a lot of options and time to decide what you want to do with your equity, but they can also be a bit confusing because they don’t work like a more traditional home loan.

HELOCs Are Lines of Credit
The most important thing to

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July 2022 - Jean-Luc Andriot - Animated Video for Jean-Luc Andriot blog 072522

Time isn’t always on your side, especially if you’re trying to time the real estate market.

Some homeowners postponed selling while they waited for prices to hit their peak. Here’s why you shouldn’t wait any longer:

* The market is unpredictable — even experts can’t guarantee what it will do next!
* You could pay more to buy your next home the longer you delay.
* It’s still a great time to sell, but rising mortgage rates are beginning to slow down demand.

You can’t control the real estate market — but you can control when you put your home up for sale.

Contact us to start a conversation about the right time to make your move.

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Home prices are STILL climbing for Jean-Luc Andriot blog 060822

However, the rate of appreciation has begun to slow.


So what does that mean for you?

* Homebuyers: You may find that your income growth outpaces home prices, making homeownership more affordable for you in the future.

* Homeowners: If you’ve been waiting to maximize your sale price, now may be the perfect time to cash out.

Learn more about the current housing market and what it means for you in our new blog post.


 
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June 2022 - Jean-Luc Andriot - Blog Post Image for Jean-Luc Andriot blog 060222

The last two years caught many of us off guard—and not just because of the pandemic. They also ushered in the hottest housing market on record, with home prices rising nationally by nearly 19% in 2021, driven primarily by low mortgage rates and a major supply shortage.1

But while some had hoped 2022 would bring a return to normalcy, the U.S. real estate market continues to boom, despite rising interest rates and decreasing affordability.

So what’s driving this persistent demand? And is there an end in sight?

Here are three factors impacting the real estate market right now. Find out how they could affect you if you’re a current homeowner or plan to buy or sell a home this year.

I MORTGAGE RATES ARE RISING FASTER THAN EXPECTED

Over the

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May 2022 - Jean-Luc Andriot - Post 2

The two terms are often confused because they are so similar. But in reality, they are very different.

- Getting prequalified for a mortgage doesn’t entail a credit check or official documentation. This process simply estimates how much you could qualify to borrow.

- Getting preapproved, on the other hand, requires official documentation; verification of your income, assets, and debts; and a credit check. A preapproval concretely specifies how much you have been approved to borrow.

Getting preapproved gives you clarity on how much you can afford, which makes it important to do before you start your home search.
Once you find a home, it also assures the seller that you’re serious and financially able to buy their home.

Contact us if you’d like

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August 2021 - Jean-Luc Andriot - Post 3

It’s the old supply-and-demand predicament: Home sales in the U.S. continue at a torrid pace, but the availability of listings remains limited. Buoyed by historically low mortgage rates, buyers keep shopping for homes, reducing the available inventory and sparking a rise in home prices across the country.

News website The Atlantic summarized the sizzling home market this way:

“Pick a housing statistic at random, and it’s probably setting an all-time record. Home prices: record high. Inventory: record low. Percentage of homes selling above asking price: record high. Average time on market: record low.”¹

Meanwhile, homebuilders are contending with an increase in material costs and a shortage of labor. These issues come amid an ongoing shortage of

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