Mike May, Realtor 804.731.0111 Mike May, Realtor 804.731.0111
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Buyer Information

Posts filed under Buyer Information


Tax Return Depressing? Owning a Home Could Help
Posted Fri, Apr 21st 2017 10:58 am
Many Americans got some depressing news last week; either their tax return was not as large as they had hoped or, in some cases, they were told they owed additional money to either the Federal or...

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Home Mortgages: Rates Up, Requirements Easing
Posted Thu, Apr 13th 2017 3:03 pm
The media has extensively covered the rise in mortgage interest rates since last fall (from 3.42% last September to the current 4.1% according to Freddie Mac). However, a less covered aspect of t...

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The ‘REAL’ News about Housing Affordability
Posted Thu, Apr 6th 2017 2:27 pm
Some industry experts are claiming that the housing market may be headed for a slowdown as we proceed through 2017, based on rising home prices and a potential jump in mortgage interest rates. On...

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What Are the Experts Saying about Mortgage Rates?
Posted Thu, Mar 23rd 2017 10:42 am
Mortgage interest rates have risen over the last few months and projections are that they will continue their upswing throughout 2017. What impact will this have on the housing market? Here is wh...

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Which Homes Have Appreciated the Most?
Posted Thu, Mar 16th 2017 3:13 pm
Home values have risen dramatically over the last twelve months. The latest Existing Home Sales Report from the National Association of Realtors puts the annual increase in the median existing-ho...

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Before You Pay Cash for a Home
Posted Tue, Mar 7th 2017 11:15 am
The National Association of REALTORS® reports in its 2016 Profile of Home Buyers and Sellers that 12% of all buyers paid cash for their home. Before paying cash for a home, a buyer should decide i...

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Mortgage Rates Impact on 2017 Home Values
Posted Thu, Mar 2nd 2017 11:06 am
There is no doubt that historically low mortgage interest rates were a major impetus to housing recovery over the last several years. However, many industry experts are showing concern about the ...

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Not Available for All Buyers
Posted Tue, Feb 28th 2017 2:22 pm
Lenders regularly publish mortgage rates but they may not be available for all buyers. Imagine that the mortgage payment based on an advertised rate influenced a buyer to make an offer on a home. ...

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The Impact of Homeownership on Family Health
Posted Thu, Feb 23rd 2017 12:21 pm
The National Association of Realtors recently released a study titled 'Social Benefits of Homeownership and Stable Housing.’ The study confirmed a long-standing belief of most Americans: “Owni...

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What Would You Give?
Posted Thu, Feb 16th 2017 2:12 pm
Yogi Berra said he’d give his right arm to be ambidextrous. While most first-time home buyers are not going to that extreme, it is interesting to see what sacrifices are being made according to the...

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Boomers Are Staying In-Place
Posted Tue, Jan 24th 2017 12:58 pm
There seems to have been an accepted progression for homeowners going from starter home, to gradually moving into one’s dream home, then, downsizing after becoming an empty nester and finally, into...

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Will Housing Affordability Be a Challenge in 2017?
Posted Thu, Jan 19th 2017 1:42 pm
Some industry experts are saying that the housing market may be heading for a slowdown in 2017 based on rising home prices and a jump in mortgage interest rates. One of the data points they use i...

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Millionaire to Millennials: Buy a Home!!
Posted Thu, Jan 5th 2017 1:17 pm
Last week, CNBC ran an article quoting self-made millionaire David Bach explaining that not purchasing a home is "the single biggest mistake millennials are making"because buying real estate is "...

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Learn with Liz: Mortgage Lending 101
Posted Wed, Dec 28th 2016 3:58 pm

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Learn with Liz: Knowing When You’re Ready
Posted Wed, Dec 14th 2016 12:45 pm
By: realtor.com

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5 Reasons Why Homeownership Is a Good Financial Investment
Posted Thu, Dec 1st 2016 10:46 am
According to a recent report by Trulia, “buying is cheaper than renting in 100 of the largest metro areas by an average of 37.7%.” That may have some thinking about buying a home instead of signi...

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It Isn't Final Until It's Funded
Posted Tue, Nov 29th 2016 12:02 pm
Mortgage approval isn’t final until it’s funded.  Things can change prior to the loan being closed that can affect a pre-approval such as changes in the borrowers’ financial situation or possibly, ...

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A Cost to Consider
Posted Tue, Nov 8th 2016 2:12 pm
Homeownership, part of the American Dream: a home of your own where you can feel safe, raise your family, share with your friends and enjoy life. The benefits are easily recognizable but maintenanc...

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How Historically Low Interest Rates Increase Your Purchasing Power
Posted Thu, Oct 20th 2016 10:49 am
According to Freddie Mac’s latest Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at 3.47%. Rates have remained at or below 3.5% each of the last 16...

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Waiting to Buy...WHY?
Posted Tue, Oct 4th 2016 12:41 pm
Some people wait to buy a home until they have 20% down payment to avoid paying the mortgage insurance which is required by lenders when the loan-to-value ratio is greater than 80%, with the exce...

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