You’ve probably heard people throw around the word “equity” when they’re talking about homeownership. You might have heard someone say that owning a home helps you “build equity” or perhaps you heard someone talk about “borrowing against equity.”
But what exactly is equity? And why does it matter?
What Is Equity?Equity is what you own, minus what you owe. It’s the percentage of your home value that belongs to you free and clear.
If your home is wort... read more
Written by Jim Vogel:There are many great reasons a senior would want to move from their long-term home. Maybe they want to downsize, as the upkeep on their family home is becoming too much of a burden. Maybe they want to move closer to family. Maybe they just want a change of scenery. Whatever the reason, many seniors will look to secure a traditional home loan for the new purchase. Here are some things to think about before you do.
Are you even qualified right now?
It may have been a very long... read more
If you’re trying to purchase a home in a competitive market, you need to be able to prove to the seller that you are the right buyer for their home. The housing market in DFW has seen steady growth over the past few years. The demand for housing is high, but a lack of inventory has created an environment where there are too many buyers for the number of available homes. For sellers, this often leads to multiple offers for higher prices, but buyers are discovering that homes only stay on the mar... read more