The #1 Reason People Move: To Be Closer to Family & Friends
source: Keeping Current Matters
Have you ever thought about packing up and moving to be closer to the people who mean the most to you? Maybe you’re tired of long drives to see your family or wish your kids could spend more time with their grandparents. Clearly, a lot of other people feel the same way.
According to recent data from the National Association of Realtors (NAR), the desire to be near family and friends is the #1 reason people move (see graph below):
That’s because moving isn’t just about finding a new house – it’s about living a life where you’re surrounded by the people who matter most. Whether it’s catching up over weeknight dinners, watching your kids play with
The Mortgage Corner With GreenState Credit Union: How to Protect Yourself Against Cyber Security Threats
Obtaining a mortgage or facilitating any financial transaction electronically can expose you to potential cyber security threats. Our team wants to ensure you, your information, and your financial accounts are protected. While technology has improved your ability to manage your financial accounts, including everything from handling daily transactions to applying for a mortgage loan, it has also opened the door to criminals who seek to gain access to your accounts for fraudulent purposes.
In today's digital age, safeguarding your personal information is more important than ever. Here are some essential tips to help you prevent fraud and
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.
The Mortgage Corner with Greenstate Credit Union: 5 Tips to Finding the Right Mortgage Lender
Finding the right mortgage lender can feel like embarking on a quest through a maze of financial jargon and paperwork. All loans are created equal right? Wrong! Similarly, all mortgage lenders are not created equal either. Each of us come with an arsenal of loan programs with different rates and fees, but it’s equally as important that you are comfortable with whom you are getting your financing from. Who is the person behind the desk that is helping you with one of the largest financial investments of your lifetime?
With these five tips, you're sure to emerge victorious, loan in hand and homeownership dreams within reach.
What to Know About the Buyer Representation Agreement
As of July 1, 2024 the NAR (National Association of Realtors) and IAR (Iowa Association of Realtors) put into state law that anyone who wanted to buy a home in the state of Iowa with a REALTOR® must enter a Buyer Representation Agreement with their REALTOR®. The Buyer Representation Agreement ensures that the REALTOR® will act in the best interest of the buyer throughout the home-buying process, providing them with dedicated support, expertise, and advocacy. This agreement must be signed, in person or electronically, by both parties before looking at any homes or properties. By signing this agreement, you will be assured that your REALTOR® is committed to helping you find the right property and
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The Mortgage Corner with GreenState Credit Union: The Process of Buying & Selling a Home at the Same Time
Buying or selling a home can be stressful. It's not just about finding the perfect property to move into or finding the right buyer for your current home; it's about timing it right, qualifying for loans, and managing finances. And when these two significant life events happen simultaneously, the stress can be overwhelming. But don't fret. With the right preparation and guidance, you can navigate through this process smoothly. Here are a few tips to think about as you consider your next home purchase.
Getting Your Finances in Order
The first step in this journey is to get your finances in order. This includes understanding your current
The Mortgage Corner with GreenState Credit Union: October is Financial Planning Month!
Did you know that October is Financial Planning Month? If you haven’t taken stock of your finances lately — specifically your household budget — it’s the perfect time to do so. A good household budget can help you better manage spending and save for your financial goals, like buying a home, paying off debts, or even just taking a much-needed vacation.
Are you ready to update your household budget this month? Take these steps:
Know your after-tax income. Before you can create a smart budget, you need to know how much money you’re bringing in each month after taxes. This will, of course, include your salary, but any extra income should be considered as
There are Plenty of Buyers Active in Today's Market
Source: KCM
Are you holding off on selling your house because you think there aren't any buyers out there? Data proves just how active buyers still are today, even with higher mortgage rates.
The ShowingTime Showing Index is a measure of buyers touring homes. It shows they're actually a lot more active that normal. This proves buyers still want to buy and those who can afford to move today are doing so.
"Interest rate hikes continue to further cut into buyers' purchasing power, although they appear to have adapted to the higher mortgage rate environment..." Danielle Hale - Chief Economist, Realtor.com
If you are thinking of buying don't delay your plan to sell for fear of no one
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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