Buying a home in the Carolinas for the first time can be a daunting experience. If you are a first time home buyer, remember that knowledge is power. Below, we present 5 key lessons to remember as you start shopping for your first house.
Finding and buying your first home is one of life’s adventures. For first time home buyers, a first home is an excellent financial investment that offers an empty canvas of possibility. Yet what many forget with their first home purchase is that your home, unless it is in the middle of the country, also comes with a neighborhood. As you shop for your first home, you are also shopping for your first neighborhood, and you need to consider the location carefully.
Here are some considerations that can help you choose the right neighborhood when you are buying your first home.
The process of shopping for a home, negotiating a purchase price, applying for a loan, and closing a mortgage loan can be daunting and complicated for even a seasoned home buyer. As a first time home buyer, everything about the process is new and unfamiliar. While your mortgage lender and local credit counselors can help you navigate the path to homeownership, the following do's and don'ts will help you avoid some of the more common mistakes and oversights that can trip you up on your way to buying your first home.
Buying a house is exciting. Alongside the thrill of house hunting comes the anxiety of the unknown. Knowing how to buy a house and find the right mortgage to make your dream a reality are valid concerns. With multiple mortgage options, how do you decide which mortgage is right for you? Although these are good questions, there are answers, and buying a house doesn’t have to be a stressful experience.
Home mortgage options vary from state to state; sometimes, different options exist at a city or county level. In the Carolinas, there are multiple options to help home buyers, including state-specific programs to help first-time home buyers find the perfect house. Some of these programs help first time home buyers afford their new home by offering little or no money down mortgage requirements.
The surging real estate market shows no signs of slowing down, and that creates opportunities and challenges for buyers.
Buying your first home is an exciting time full of many emotions. You are ready to strike out on your own and become a homeowner! This time is also full of lots of important information, and sometimes you can feel a little overwhelmed.
You have been saving and planning, and now it is finally time to start shopping for your first home! We are thrilled for you! But before you hit the real estate listings or start interviewing agents, you have a little math to do.
At Carolina Trust, we pride ourselves in living out the motto, "Putting People Ahead of Profits." To us, this isn't just a tagline for billboards and commercials; it is a service model that we strive to implement through each and every interaction with our members.
As a not-for-profit financial cooperative, we are in business solely to serve. We treat our members like family and take care of their financial needs as if they were our own.
Recently on Living Local Carolina, we had the opportunity to sit down with Carolina Trust Members, Lance and Christy O'Connor. The O'Connors were First-Time Homebuyers who had previously experienced difficulty trying to get a mortgage with another lender. Their experience left them pretty discouraged about purchasing a home for their family. They were referred to Carolina Trust by their realtor, and were hopeful that we could help.
Connie Thompson, VP Mortgage Operations, greeted the O'Connors with open arms and welcomed them into the CTFCU family. She not only got them into their dream home but also made the process super easy with our no sweat mortgage service guarantee.
Check out the O'Connor's Living Local Carolina segment below:
Topics: Home Loans
Buying your first home doesn't have to be a terrifying experience. Surprisingly, however, that's how many perspective homeowners view the process. According to Nerdwallet, millennials, especially, are hesitant to enter into the home-buying arena, even though they'd like to become homeowners and see the value of buying over renting. Most feel they don't yet make enough money to foot a monthly mortgage.
With close proximity to the beach, beautiful weather year-round, and friendly people, the Grand Strand area is an ideal place for many northerners looking to relocate.
On a recent segment of Living Local Carolina, we sat down with Carolina Trust member, Phil Adikes, who recently relocated from New York and built his dream home with the help of the Carolina Trust Mortgage department.
Phil and his wife were initially referred to a lender who offered them a rate much higher than what they were expecting. After doing some research online, Phil realized that Carolina Trust was advertising a rate much lower than the lender he had initially been referred to. With just a few weeks until their closing date, the Adikes were skeptical of restarting the lending process.
However, our mortgage team was able to get the Adikes approved in less than 48 hours at a lower rate. After doing the math, they were able to save approximately $80,000 over the life of their mortgage by using Carolina Trust as their lender.
Check out the Adikes' Living Local Carolina segment below:
Topics: Home Loans