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        <title>Real Estate Blog</title>
        <link>https://www.oakridge.net/blog/tags/homebuyer-education/</link>
        <description></description>
<item>
    <guid>https://www.oakridge.net/blog/the-mortgage-corner-with-greenstate-credit-union-back-to-school-back-to-financial-basics.html</guid>
    <link>https://www.oakridge.net/blog/the-mortgage-corner-with-greenstate-credit-union-back-to-school-back-to-financial-basics.html</link>
        <author>carl.ericson@oakridge.realestate (Oakridge Real Estate)</author>
        <title>The Mortgage Corner with Greenstate Credit Union: Back to School &amp; Back to Financial Basics</title>
    <description> <![CDATA[ 



The Mortgage Corner with Greenstate Credit Union: Back to School &amp; Back to Financial Basics


As the kids head back to school and routines return, it's also a great time for a financial check-in—especially when it comes to your home goals. Whether you're already a homeowner or thinking about making a move, a quick mortgage review can help keep you on track.


Mid-Year Financial Check-In:


Let’s make sure your mortgage or homebuying plans are still aligned with your goals:






Already Own?








Review your current mortgage—could refinancing lower your payment or help fund other priorities like home improvements or college tuition?






Check in on your home’s equity—there may be more there than you think. Could you use that equity to upgrade into new home?








Thinking About Buying?








Fall is a great time to start planning. With less competition than summer and motivated sellers, you might find the right deal.






Review your credit, savings, and loan pre-qualification options—so you’re ready when the perfect home pops up.








Back to School = Fresh Start


The school year reset is a great time to organize not just backpacks, but budgets and long-term plans. Whether you’re preparing for a first home, upgrading for more space, or making the most of your current mortgage, we are here to guide you every step of the way.


Contact one of our mortgage lenders at www.greenstate.org/mortgage to help you get started 


NMLS 401238


 


 
 ]]> </description>
    <pubDate>Tue, 12 Aug 2025 10:38:00 -0500</pubDate>
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    <guid>https://www.oakridge.net/blog/the-power-of-being-pre-approved-as-a-buyer-in-todays-market.html</guid>
    <link>https://www.oakridge.net/blog/the-power-of-being-pre-approved-as-a-buyer-in-todays-market.html</link>
        <author>carl.ericson@oakridge.realestate (Oakridge Real Estate)</author>
        <title>The Power of Being Pre-Approved as a Buyer in Today's Market</title>
    <description> <![CDATA[ 
The Power of Being Pre-Approved as a Buyer in Today's Market


Article from Keeping Current Matters







If you’re buying a home this spring, today’s housing market can feel like a challenge. With so few homes on the market right now it is essential to have a firm grasp on your homebuying budget. You’ll also need a sense of determination to find the right house and act quickly when you go to put in an offer. One thing you can do to help you prepare is to get pre-approved.


To understand why it’s such an important step, you need to know what pre-approval is. As part of the process, a lender looks at your finances to determine what they’d be willing to loan you. From there, your lender will give you a pre-approval letter to help you understand how much money you can borrow.


Freddie Mac explains it like this:




“A pre-approval is an indication from your lender that they are willing to lend you a certain amount of money to buy your future home. . . . Keep in mind that the loan amount in the pre-approval letter is the lender’s maximum offer. Ultimately, you should only borrow an amount you are comfortable repaying.”




Basically, pre-approval gives you critical information about the homebuying process that’ll help you understand how much you may be able to borrow so you have a stronger grasp of your options. And with higher mortgage rates impacting affordability for many buyers today, a solid understanding of your numbers is even more important.


Pre-Approval Helps Show You’re a Serious Buyer


That’s not the only thing pre-approval can do. Another added benefit is it can help a seller feel more confident in your offer because it shows you’re serious about buying their house. And, with sellers seeing a slight increase in the number of offers again this spring, making a strong offer when you find the perfect house is key.


As a recent article from the Wall Street Journal (WSJ) says:




“If you plan to use a mortgage for your home purchase, preapproval should be among the first steps in your search process. Not only can getting preapproved help you zero in on the right price range, but it can give you a leg up on other buyers, too.”




Bottom Line


Getting pre-approved is an important first step when you’re buying a home. It lets you know what you can borrow for your loan and shows sellers you’re serious. Connect with a local real estate professional and a trusted lender so you have the tools you need to purchase a home in today’s market.


Check out our other blog posts below for additional buying education


  





 ]]> </description>
    <pubDate>Fri, 12 May 2023 08:00:00 -0500</pubDate>
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<item>
    <guid>https://www.oakridge.net/blog/the-biggest-homebuyer-myth-when-buying-a-home.html</guid>
    <link>https://www.oakridge.net/blog/the-biggest-homebuyer-myth-when-buying-a-home.html</link>
        <author>carl.ericson@oakridge.realestate (Oakridge Real Estate)</author>
        <title>The Biggest Homebuyer Myth When Buying a Home</title>
    <description> <![CDATA[ 



The Biggest Homebuyer Myth When Buying a Home








The biggest myth we see with homebuyers: You need 20 down payment to purchase a home. A recent survey by the NAR (National Association of Realtors) showed that 44 of people who purchased a home in 2022 put less than 20 down.






For years, the idea of having to save up 20 of a home's purchase price for a down payment has been ingrained in many people's minds. However, this is no longer the case. While a 20 down payment may have been the norm in the past, there are now many options available for homebuyers to purchase a home with a much smaller down payment.






In fact, some programs allow for as little as 3 down payment for a conventional loan, and there are also government-backed loans such as FHA and VA loans that offer low down payment options as well. Additionally, there are down payment assistance programs available in many areas that can help homebuyers with their down payment and closing costs. It's important to note that a smaller down payment may result in higher monthly mortgage payments or additional mortgage insurance costs, but for many, the ability to purchase a home sooner rather than later is worth it.






Ultimately, it's important for homebuyers to do their research and speak with a trusted local lender to explore all of their options and find the best solution for their individual situation. The myth that a 20 down payment is necessary to buy a home is just that - a myth. Don't let it hold you back from achieving your dream of homeownership.


Check out our other blog posts below for additional buying education


  






 ]]> </description>
    <pubDate>Mon, 01 May 2023 15:00:00 -0500</pubDate>
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<item>
    <guid>https://www.oakridge.net/blog/balancing-your-wants-needs-as-a-homebuyer-this-spring.html</guid>
    <link>https://www.oakridge.net/blog/balancing-your-wants-needs-as-a-homebuyer-this-spring.html</link>
        <author>carl.ericson@oakridge.realestate (Oakridge Real Estate)</author>
        <title>Balancing Your Wants &amp; Needs as a Homebuyer </title>
    <description> <![CDATA[ 



Balancing Your Wants &amp; Needs as a Homebuyer


Article from Keep Current Matters


Though there are more homes for sale now than there were at this time last year, there’s still an undersupply with fewer houses available than in more normal, pre-pandemic years. The Monthly Housing Market Trends Report from realtor.com puts it this way: 


“While the number of homes for sale is increasing, it is still 43.2 lower than it was before the pandemic in 2017 to 2019. This means that there are still fewer homes available to buy on a typical day than there were a few years ago.”


The current housing shortage has an impact on how you search for a home this spring. With limited options on the market, buyers who consider what’s a necessity versus what’s a nice-to-have will be more successful in their home search.


The first step? Get pre-approved for a mortgage. Pre-approval helps you better understand what you can borrow for your home loan, and that plays an important role in how you’ll put your list together. After all, you don’t want to fall in love with a home that’s out of reach. Once you have a good grasp on your budget, the best way to prioritize all the features you want and need in a home is to put together a list.


Here’s a great way to think about them before you begin:




Must-Haves: If a house doesn’t have these features, it won’t work for you and your lifestyle.


Nice-To-Haves: These are features you’d love to have but can live without. Nice-to-haves aren’t dealbreakers, but if you find a home that hits all the must-haves and some of these, it’s a contender.


Dream State: This is where you can really think big. Again, these aren’t features you’ll need, but if you find a home in your budget that has all the must-haves, most of the nice-to-haves, and any of these, it’s a clear winner.




Finally, once you’ve created your list and categorized it in a way that works for you, discuss it with your real estate agent. They’ll be able to help you refine the list further, coach you through the best ways to stick to it and find a home in your area that meets your needs.


 


Bottom Line


Prioritizing what you need in a home is a critical first step the buying process. This will allow for you to stay focused and on track for the home you want


 


Check out our other blog posts below for additional buying education


  
 ]]> </description>
    <pubDate>Thu, 16 Mar 2023 08:00:00 -0500</pubDate>
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