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New Mortgage Rules: Major Changes for $1M+ Homes Starting December 15, new federal mortgage rules will lower down payments for homes priced over $1M. Buyers will only need a 5% down payment on the first $500K and 10% on amounts up to $1.5M. This reduces the down payment for a $1M home from $200K to $75K. Additionally, first-time buyers can extend amortization to 30 years, easing monthly payments. These changes aim to help buyers, especially in high-priced markets like Vancouver and Toronto. #MortgageNews #RealEstate #HousingMarket #HomeOwnership

The Lyons Den of Mortgage Knowledge. # Understanding Down Payments for Mortgages When it comes to buying a home, one of the most important aspects to understand is the down payment. A down payment is a portion of the total cost of a home that you pay upfront. It's typically expressed as a percentage of the home's price. ## What Does a Down Payment Mean? A down payment reduces the amount of money you need to borrow, which in turn reduces your monthly mortgage payment and the total cost of your loan. It also provides equity in your home from the start. ## What is Required for a Down Payment? The amount required for a down payment can vary. Traditionally, lenders have expected a 20% down payment, but many lenders now offer loans with lower down payment requirements. ## Low or No Down Payment Options Guild Mortgage is one such lender that offers many low or no down payment options. These options can make homeownership more accessible, especially for first-time home buyers. ## Georgia Dream Loan In addition to these options, the Georgia Dream loan is another excellent resource for home buyers. This program offers down payment assistance to eligible buyers, making homeownership a reality for more people. ## Contact Information If you have any questions or need further information about down payments or mortgage options, please don't hesitate to contact me. I'm here to help you navigate the home buying process and find the best mortgage solution for your needs. #mortgage #downpayment #homebuying #GuildMortgage #GeorgiaDream Best Regards, Kade Lyons 706-453-6687 or 503-969-0196 Kade.lyons@guildmortgage.net

𝗛𝗼𝘄 𝗪𝗶𝗹𝗹 𝗖𝗮𝗻𝗮𝗱𝗮’𝘀 𝗡𝗲𝘄 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝘂𝗹𝗲𝘀 𝗜𝗺𝗽𝗮𝗰𝘁 𝗬𝗼𝘂𝗿 𝗡𝗲𝘅𝘁 𝗛𝗼𝗺𝗲 𝗣𝘂𝗿𝗰𝗵𝗮𝘀𝗲? 🏡 With changes coming later this year—including a higher insured mortgage cap and extended amortization periods—buying a home may become more accessible for first-time buyers and those eyeing new builds. But what do these updates mean for your specific plans? In my latest blog post, I break down the key changes and offer insights on how they could affect your home-buying strategy. If you're thinking of purchasing or know someone who is, this is a must-read! 🔗 Check out the blog here to learn more! https://lnkd.in/gJEABchp #RealEstate #TorontoRealEstate

In today’s ever-evolving real estate market, finding the perfect home at the right price can be a challenging endeavor. An adjustable-rate mortgage can be a valuable tool for expanding your buying power in a competitive real estate market. #HomeLoans

What factors influence mortgage consumer decisions, revealing key insights into borrower behavior? Check out this article to find out more 😃 🤔 Questions about buying or selling your home? Email at john@TOliving.com 👩💻 🏠 Start browsing for homes at TOliving.com 🏢

As the President of Clover Mortgage, I know for sure that one of the most important decisions most buyers make when buying a home in Canada is how much cash they are putting down. There's all the difference between the world concerning affordability, mortgage terms, and long-term financial stability between a 5% and a 20% down payment. This guide will delve into both the pros and cons of each option to help in arriving at your decision. Find out more below. https://lnkd.in/gU3rMaus

We talk to hopeful buyers often, and sadly, recent interest rate increases have left many people on the sidelines. It’s understandable, looking at the monthly payments associated with today’s interest rates can be intimidating! A great strategy for getting into your dream home in times of low competition is to prioritize a 2-1 buydown. A 2-1 buydown allows you to pay a lower mortgage rate for the first two years of your loan, which gives you time to refinance when rates do drop again. This approach means you get to shop for homes in a time when buyer competition is very low, while also saving on your monthly payments through a lower interest rate. To learn more about the logistics behind a 2-1 buydown, check out our most recent blog post! Reach out with any questions it brings up. We’re determined to help you achieve your real estate goals, no matter the market. Give us a call to make a plan for your 2025 home goals! #realesate #denverrealestate #robthompsonhomesteam #coldwellbanker #realtor https://lnkd.in/gyQ5Ht7J

Exciting News for Realtors! Introducing the Trade-In Mortgage from Apex Mortgage Group, in collaboration with Calque. This innovative financing solution offers your clients a smooth, stress-free way to transition between homes. What’s the Trade-In Mortgage? It enables homeowners to use the equity in their current home to buy their next home non-contingently. They can move into their new home and then focus on selling their old one without any rush. Key Benefits for Your Clients: Seamless Transition: Buy the next home and move in before selling the old one. Stress-Free Staging: After moving, you can stage and show the old house at its best—no disruptions from daily living. Focused Selling: Clients can focus on finding their dream home while you concentrate on selling the old property without timing pressures. Reduced Costs and Complexity: Avoid duplicate closing costs and hidden fees typically associated with other 'buy before you sell' solutions. 🛡️ Added Security: If the old home doesn't sell within 150 days after the purchase of the new home, Calque will purchase the house at a previously agreed-upon price. This guarantees that your clients will never be left in limbo. Why Realtors Love Working with Us: Provide a more flexible, reliable home transition for your clients. Increase your ability to close more deals by removing the common obstacles of the buying and selling process. Want to learn how the Trade-In Mortgage can revolutionize your clients’ experience? Contact me today! Brandon Dawson Senior Loan Officer, Apex Mortgage Group (937) 280-5457 www.apexmtg.net/bdawson Let’s make home transitions smoother and more secure. Get in touch now to partner with us and start closing more deals together! #bcdmortgage #mortgagebroker #mortgage #hewhome #homeownership #strongertogether #timekillsdeals #savemoney #tradeinmortgage #finance #equity 

Legal & General Ignite data reveals trends among UK first-time buyers, including an increase in older buyers, larger average loan sizes, and longer mortgage terms. In Q1 2024, there was a 13% rise in 56-65 year-olds searching for their first property compared to the previous year. Legal & General Mortgage Services notes that more buyers are waiting until their late 50s to purchase their first home. Additionally, over the past year, 38% of potential buyers were first-time buyers, with an average age of 33. #cognisantsearch #mortgage #firsttimebuyers #housing #home

As the President of Clover Mortgage, I know for sure that one of the most important decisions most buyers make when buying a home in Canada is how much cash they are putting down. There's all the difference between the world concerning affordability, mortgage terms, and long-term financial stability between a 5% and a 20% down payment. This guide will delve into both the pros and cons of each option to help in arriving at your decision. Find out more below. https://lnkd.in/gXg8Utbu