The Top 2 Reasons To Consider a Newly Built Home

Thinking about buying a home or selling your current one to find a better fit? If so, you might be wondering what's going on with home prices these days. Here's the scoop. The latest national data from Case-Shiller and the Federal Housing Finance Agency (FHFA) shows they’re going up (see Charts) As you can see, home prices were rising for most of 2023. But over the course of December and January, they were virtually flat – which is pretty normal for that time of year. But here's what you need to know now. As of February, when the spring market kicked off, prices were on the rise again. Home Prices Are Going Up in Most of America's Top Cities After seeing a jump in home prices nationally in February, you might be wondering if they’re going up in your area, too. While it depends on where you live, prices are rising in 18 of the top 20 cities Case-Shiller reports on in the monthly price index (see chart below) Most experts also think home prices will keep rising and end the year on a high note. Forbes explain

journey to home ownership

renting versus buying

Navigating the intricate world of mortgages

In todays podcast we throw random questions at #MortgageN3rd and see if we can stump him! Should be fun!

When embarking on the journey of purchasing a home, the mortgage process can often seem like a daunting maze. However, with the right guidance and insight, it can become a manageable and even enjoyable experience. This blog post will dive into the main topics discussed in the Clear to Close podcast episode with Ryan Bolton, providing valuable advice for prospective homebuyers looking to navigate the complexities of home financing. Securing a mortgage is a significant step in buying a home, and preparation is key. The importance of getting pre-approved early cannot be overstated. Pre-approval not only affirms your financial readiness to potential sellers but also sets a clear budget for your property search. Ryan emphasizes that starting the mortgage process early can alleviate the stress of last-minute rushes and potential delays, positioning you as a serious contender in the competitive real estate market. Another vital aspect of the mortgage process is understanding the documentation involved. Accuracy in your financial documents is crucial, as they form the backbone of your loan approval. In the podcast, Ryan breaks down the typical paperwork required and sheds light on why lenders need such detailed information. The discussion covers everything from income verification to sourcing your down payment, underlining the significance of transparent financial history to navigate the regulatory landscape. Ryan also addresses common financial missteps that can hinder the mortgage process. For example, making large purchases or applying for new credit during the loan application can raise red flags for lenders, potentially jeopardizing your approval. By maintaining a stable financial profile and building up reserves, you demonstrate reliability and foresight, which can be instrumental in securing a favorable loan. Contract deadlines are another critical topic covered in the episode. Managing these deadlines is essential to protect your earnest money and ensure that the purchase progresses without a hitch. Ryan suggests setting calendar alerts for key milestones, such as inspection periods and the closing disclosure waiting period. He also advises against closing on a property at the end of the week to avoid potential delays that could disrupt your moving plans. Throughout the podcast, Ryan reiterates the value of proactive planning and the peace of mind that accompanies it. By being well-prepared and two steps ahead, you can transform into a deadline-crushing, home-owning ninja, as Ryan puts it. His expert advice aims to equip you with the knowledge and strategies necessary to navigate the mortgage maze with confidence. In conclusion, the path to homeownership doesn't have to be riddled with obstacles. By following the insights shared in the Clear to Close podcast, prospective buyers can master the mortgage process and enjoy a hassle-free home-buying journey. Remember, knowledge is power, and with Ryan Bolton's expert tips, you're well on your way to unlocking the door to your new home.

In today's podcast we throw random questions at #MortgageN3rd and see if we can stump him! Should be fun!

When it comes to the niche market of horse property financing, the complexity can often be overwhelming for potential investors. Ryan Bolton and his wife, Tiffany Lance, tackle these complexities head-on in the latest episode of their podcast. The couple brings a personal touch to the conversation, with Tiffany's hands-on experience at Horse Haven Ranch offering invaluable insights into the world of equestrian property investment. The podcast begins by unraveling the unique challenges of securing mortgages for sprawling ranches. The couple explains that the value of land often outweighs that of the house on horse properties, making it difficult to secure a loan where the home is not the main asset. This dynamic leads to higher down payment requirements, a hurdle that the Boltons themselves faced when acquiring their ranch in Southern Utah. Ryan’s expert knowledge in real estate finance shines through as he discusses how lenders evaluate the risk of foreclosure and how that impacts the availability of loans for large acreage properties. Delving deeper into agricultural lending, the episode covers the USDA loan program, designed to assist with rural property financing. This federal program is vital for many looking to invest in horse properties, offering 100% financing to qualified applicants in eligible rural areas. However, the Boltons highlight the program's capricious nature, with changing eligibility maps and strict income requirements. They also provide tips for utilizing USDA online tools to determine property eligibility, emphasizing that areas like Dameron Valley and Winchester Hills often qualify for such loans. The conversation takes a turn towards the broader realities of real estate investment, shedding light on the higher stakes involved in fix-and-flips and rental properties. Ryan, leveraging his expertise from Patriot Home Mortgage, discusses the necessity of down payments, contingency planning, and inspections. The episode underscores the importance of being financially prepared for the unexpected expenses that can arise from property renovations and investment ventures. The couple also discusses the role of private money lending in real estate investments, especially when it comes to high-risk properties that traditional lenders may avoid. Ryan shares his experiences in dealing with various financing options, stressing the need for investors to have 'skin in the game' to earn lender trust. The chapter on private money lending is a gold mine of information for those looking to enter the world of real estate investment but may not have the conventional qualifications. Overall, the podcast episode serves as a comprehensive guide for anyone looking to understand the financing and investment strategies surrounding horse properties. The Boltons' firsthand experiences, coupled with Ryan's industry knowledge, provide a unique perspective that can greatly benefit listeners. From USDA loans to the nuances of private money lending, the episode is a testament to the couple's commitment to educating their audience on the multifaceted world of real estate finance.