Realtor Sandra Seymour Blog

  Unpacking the Long-Term Benefits of Homeownership If you’re thinking about buying a home soon, higher  mortgage rates , rising  home prices , and ongoing affordability concerns may make you wonder if it still makes sense to buy a home right now. While those market factors are important, there's more to consider. You should think about the long-term benefits of  homeownership  too. Think about this: if you know people who bought a home 5, 10, or even 30 years ago, you’re probably going to have a hard time finding someone who regrets their decision. Why is that? The reason is tied to how home values grow with time and how, by extension, that grows your  own wealth . That may be why, in a recent  Fannie Mae  survey , 76% of respondents say they believe buying a home is a safe investment. Here’s a look at how just the home price appreciation piece can really add up over the years. Home Price Growth over Time The map below uses  data  from ...

  What Homebuyers Need To Know About Credit Scores If you’re thinking about  buying a home , you should know your credit score’s a critical piece of the puzzle when it comes to qualifying for a home loan. Lenders review your credit to assess your ability to make payments on time, to pay back debts, and more. It’s also a factor that helps determine your  mortgage rate . An article from  Bankrate   explains :  “Your credit score is one of the most important factors lenders consider when you apply for a mortgage. Not just to qualify for the loan itself, but for the conditions:  Typically, the higher your score, the lower the interest rates and better terms you’ll qualify for .” This means your credit score may feel even more important to your homebuying plans right now since  mortgage rates  are a key factor in  affordability , especially today. According to the  Federal Reserve Bank of New York , the median credit score in the U.S. fo...