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Buying

First or fifth home we have all resources here when buying a home.

Found 22 blog entries about Buying.

The 3 Biggest Non-Financial Benefits of Owning a Home

Friday, September 22nd, 2023 at 8:00am.
Oakridge Real Estate

The Three Biggest Non-Financial Benefits of Owning a Home

The 3 Biggest Non-Financial Benefits of Owning a Home

Source: KCM

Buying and owning your own home can have a big impact on your life. While there are financial reasons to become a homeowner, it’s essential to think about the non-financial benefits that make a home more than just a place to live.

Here are three of the top non-financial reasons to buy a home.

According to Fannie Mae, 94% of survey respondents say “Having Control Over What You Do with Your Living Space” is a top reason to own.

Your home is truly your own space. If you own a home, unless there are specific homeowner association requirements, you can decorate and change it the way you like. That means you can make small changes or even do big renovations to make your home

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How Your Equity Can Power Your Next Move

Tuesday, September 19th, 2023 at 2:29pm.
Oakridge Real Estate

How Your Equity Can Power Your Next Move | Oakridge Real Estate

How Your Equity Can Power Your Next Move

Source: KCM

When you live in a home for such a significant amount of time, it’s natural for you to experience changes in your life while you’re in that house. As those life changes and milestones happen, your needs may change. And if your current home no longer meets them, you may have better options waiting for you.

Consider the Equity You’ve Gained

And, if you’ve been in your home for more than a few years, you’ve likely built-up substantial equity that can fuel your next move. That’s because you gain equity as you pay down your loan and as home prices appreciate. And, the longer you’ve been in your home, the more you may have gained. 

Data from the Federal Housing Finance Agency (FHFA)

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The Mortgage Corner With GreenState Credit Union: What is an Escrow Analysis?

Friday, September 8th, 2023 at 11:25am.
Oakridge Real Estate

What is an Escrow Analysis? Greenstate Credit Union & Oakridge Real Estate

The Mortgage Corner With GreenState Credit Union: What is an Escrow Analysis? 

To understand what an escrow analysis is, we must first understand what an escrow account is. 

An escrow account is an account established at the time of mortgage closing to hold the property taxes and insurance premiums. When an escrow account is established the monthly payment due from the borrower will include the actual loan principal and interest, plus the monthly equivalent of the property taxes and insurance premium for the home. When the taxes and insurance items are due, they are paid by the mortgage lender from the homeowners’ escrow account. 

 

Now that we have that understanding, let’s walk through what an escrow account analysis is. 

An escrow

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Two Things to Know About Your Annual Tax Bill

Wednesday, August 9th, 2023 at 8:37am.
Oakridge Real Estate

Two Things to Know About Your Annual Tax Bill | Oakridge Real Estate

Two Things to Know About Your Annual Tax Bill

It is that time of year when everyone in the Cedar Valley will be receiving their tax bill in the mail. Did you know that your tax "bill" is a bill that doesn't necessarily need to be paid? More times than not your property taxes are tied into your monthly mortgage payment, known as escrow. Before sending in any payment make sure to check with your lender to see if you have this tied into your mortgage payment. 

Want to save a little money on your property taxes? Then you need to apply for a Homestead Tax Credit! A Homestead Tax Credit could grant you up to $200 a year that can be put toward property taxes. This can be done online or by going to your county assessor's office. This is only applicable

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What Homebuyers Need to Know About Credit Score

Sunday, July 2nd, 2023 at 10:30am.
Oakridge Real Estate

What Homebuyers Need to Know About Credit Score

What Homebuyers Need to Know About Credit Score

Article from KCM

If you’re thinking about buying a home, you should know your credit score’s a critical piece of the puzzle when it comes to qualifying for a home loan. Lenders review your credit to assess your ability to make payments on time, to pay back debts, and more. It’s also a factor that helps determine your mortgage rate. An article from Bankrate explains:

 “Your credit score is one of the most important factors lenders consider when you apply for a mortgage. Not just to qualify for the loan itself, but for the conditions: Typically, the higher your score, the lower the interest rates and better terms you’ll qualify for.”

This means your credit score may feel even more

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Why Homeownership Wins in the Long Run

Sunday, July 2nd, 2023 at 8:00am.
Oakridge Real Estate

Why Homeonwership Wins in the Long Run  | Oakridge Real Estate

Why Homeownership Wins in the Long Run

Article from KCM

Today’s higher mortgage rates, inflationary pressures, and concerns about a potential recession have some people questioning: should I still buy a home this year? While it’s true this year has unique challenges for homebuyers, it’s important to think about the long-term benefits of homeownership when making your decision.

Consider this: if you know people who bought a home 5, 10, or even 30 years ago, you’re probably going to have a hard time finding someone who regrets their decision. Why is that? The reason is tied to how home values grow with time and how, by extension, that grows your own wealth. That may be why, in a recent Fannie Mae survey, 70% of respondents say they believe

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5 Factors that Determine Your Credit Score

Wednesday, June 28th, 2023 at 10:24am.
Oakridge Real Estate

5 Factors that Determine Your Credit Score | Oakridge Real Estate

The Mortgage Corner with Greenstate Credit Union - 5 Factors that Determine Your Credit Score 

When it comes to buying a home, your mortgage is an integral step in the process. Your credit score has a direct impact on the interest rate you can obtain, which then determines your monthly payment. Are you curious what impacts your credit score?


There are 5 categories that make up your score, with some weighted more heavily than others.


1. Payment History: Your account payment information, including delinquencies and public records

2. Credit Usage: How much you own on your accounts

3. Credit Age: How long your credit accounts have been established

4. Account Mix: What types of credit accounts do you have, such as revolving and

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Let's Chat About Interest Rates.

Monday, June 19th, 2023 at 3:05pm.
Oakridge Real Estate

Let's Chat About Interest Rates | Oakridge Real Estate

Let's Chat About Interest Rates

When it comes to buying a home a contributing factor is interest rates. Here is something to keep in mind with interest rates....Interest rates are not forever! 

Interest rates will change. When they drop it is a great opportunity to refinance or think about upgrading. Focus on buying a home you love now with the knowledge that you always have the option to refinance.

Working with your Realtor® & lender will help you know when it is the best time to refinance! Oakridge Real Estate is a proud partner with GreenState Credit Union and their amazing team of lenders! Get in touch with a GreenState lender today and see what your options are!

Explore the Oakridge blog for more buying information!

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Market Value Vs. Appraised Value

Sunday, May 28th, 2023 at 9:00am.
Oakridge Real Estate

Market Value vs. Appraised Value | Oakridge Real Estate

Market Value Vs. Appraised Value

Market value and appraised value are both important factors to consider when buying or selling a home. The market value is the estimated price that a buyer would be willing to pay for the property, based on current market conditions. The appraised value is the estimated value of the property as determined by a licensed appraiser. Lenders use the appraised value to determine how much they are willing to lend for the purchase of the home. Both values can impact the price negotiations during a home sale, and it's important to take both into consideration when making a decision.

Market Value: The price a buyer is will to pay for a property.

Appraised Value: The professional opinion of an appraiser on

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Why Buyers Need an Expert Agent by Their Side

Wednesday, May 24th, 2023 at 8:00am.
Oakridge Real Estate

Why Buyers Need an Expert Agent by Their Side | Oakridge Real Estate

Why Buyers Need an Expert Agent by Their Side

Article from Keeping Current Matters

The process of buying a home can feel a bit intimidating, even under normal circumstances. But today’s market is still anything but normal. There continues to be a very limited number of homes for sale, and that’s creating bidding wars and driving home prices back up as buyers compete over the available homes.

Navigating all of this can be daunting if you’re trying to do it alone. That’s why having a skilled expert to guide you through the homebuying process is essential, especially today. Bankrate shares this perspective: 

“Advice and guidance from a professional real estate agent can be invaluable, particularly amid a hot or unpredictable housing

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