A down payment on a home is money given to a mortgage or other lending company by someone wanting to purchase a Buda home. The purpose of a down payment is to reduce the amount borrowed by the home buyer from the lending company and to potentially decrease monthly mortgage payments. Down payments are always expressed as a percentage of what needs to be borrowed to buy a home.
Down Payments Explained
For example, if a couple wants to buy a home costing $100,000 and they have $3000 available to use as down payment, they will need...
VA loans are perfect for those in the US military who want to purchase a home without breaking the bank. These loans don't require the potential home buyer to make a major down payment, which is usually the biggest hurdle in purchasing a home. VA loans may be made through private lenders, but they're backed (up to a certain amount) by the VA, provided the applicant meet all of the requirements.
Eligibility Requirements
Veterans Affairs (VA) loans are available to any active or formerly active member of the military. Certain spouses of deceased military members are also eligible, if their spouse...
It can be hard to come up with a 20 percent down payment. However, this does not mean that prospective homeowners need to delay getting into a first home. Lenders do prefer a larger down payment but will approve a home mortgage with a smaller down payment.
Homeowners can put as little as 3.5 percent and step into their first home. Learn more about FHA home loans and how you may qualify today.
Own Your First Home
FHA loans make it more affordable for individuals to own their first Buda...
Getting a conventional mortgage may sound simple enough, but there are more than a few twists in turns that home buyers should be aware of. Conventional loans aren't backed by the federal government, meaning if a buyer defaults on the loan, it's the lender's responsibility to pick up the slack. Because of this, lenders have a few more stipulations than they would for secured loans. Learn about the most recent changes for loans, what buyers need before applying for a loan, and what lenders are...
When you're trying to sell your home, strategic home improvement projects can help boost your home's resale value. Home improvement projects can also help make your home stand out among the competition in your area. Knowing what to upgrade and which projects deliver the highest ROI can help you get started.
Deck Addition
Deck additions are relatively low in cost but they have a high ROI, which makes this type of home improvement a favorite among home sellers. With over 80 percent ROI, deck additions ...
No matter what Google and other experts say, the real estate SEO world remains obsessed with backlinks, and too often, how to take shortcuts. The hope of quick organic rankings is oh-so-tempting - and unfortunately, memories are short. I have to wonder how many real estate SEO’s who first suffered the effects of Penguin, have re-focused their efforts towards creating and promoting great content in the past 2 years. Certainly Penguin’s favorite playmate “Panda” is not forgotten… is it?
Building...
Homeowners interested in selling a primary residence may want to know more about the capital gains tax and applicable exclusions to avoid handing over a chunk of the profits to Uncle Sam. Whether a seller is able to qualify for a full or partial exclusion, either translates to less money given to the IRS.
Learn more about capital gains tax and full and partial exemptions on the sale of a home today.
What is Capital Gains Tax?
This is a tax on the profit from the sale of a home or other major asset. If a homeowner has owned their home for over one year, any profit would be a “long term” capital gains and the rate of taxation would depend on the seller's tax bracket. Significant exemptions exist for those selling...
Fixer-upper homes may need special attention that move-in ready homes don’t, but for some buyers, that’s what makes them perfect. However, all buyers interested in a fixer-upper home should be aware of common mistakes other buyers have made. Here are five easy mistakes to make when buying a fixer-upper home and how to avoid them.
1. Paying Too Much
A large part of the appeal of fixer-upper homes is that they cost far less than move-in ready homes. However, that discount is necessary because fixer-upper homes require so much work to bring them up to date and make them livable. So why would a buyer pay the same amount of...
Green energy is the way of the future: now more than ever, homeowners are becoming conscious of the environment and what they can do to reduce their carbon footprint. Here are different strategies homeowners can use to help make their home environmentally friendly and use less energy.
Use LED Lightbulbs
Light Emitting Diode (LED) lightbulbs have been around for a while now, but they are a tried and true method for making a home just a little bit greener. Not only do LED bulbs use less energy than their CFL counterparts, but they also have a smaller impact on the environment when they’ve been disposed of. LED lightbulbs also use less electricity than normal CFL bubs and last much longer, meaning homeowners get to save...
When selling a home, how it looks is key. Both inside and out, everything from how the furniture is arranged to the color of the paint impact what buyers think of the home. For homeowners who want to help give their home an edge on the housing market, staging is an option that can help homeowners make their home as appealing as possible to buyers. Here are the advantages and disadvantages of home staging homeowners should keep in mind when planning to stage their home or hire someone to stage their home.
Disadvantages of Home Staging
One of the biggest disadvantages home staging has is that it can potentially cost a lot of money and be time consuming. Home stagers will charge just to meet with potential clients, and that can cost anywhere from $150-400. If the homeowner decides to work with the stager, they will then have to cover the cost of furniture, which will vary depending...
When people see a home, its exterior and landscaping are its first impression. Curb appeal is essential for attracting potential buyers, but many homeowners make mistakes when preparing their home's exterior. Here are some of the most common mistakes homeowners make regarding their home's landscaping and curb appeal and how to avoid them.
1. Too Much Work
While the home's gardens may be the homeowner's pride and joy, it may seem overwhelming to a buyer who doesn't do a lot of gardening. Many people ...
Whether your dream home is a refurbished Joanna Gaines style farmhouse or a modern home out in the country, a USDA loan may help you make your dream a reality. The United States Department of Agriculture (USDA) single-family loan program assists qualified homebuyers by guaranteeing mortgages or making direct loans for the purchase of homes and land.
Types of USDA Loans
While the USDA has a number of loan products available, the organization's Section 502 Direct Loan Program and Section 502 Guaranteed Loan Program are available to US citizens and other legal residents who wish to purchase a single-family residence. Unlike other government loan programs, like the Federal Housing Administration (FHA) loans, the home must be located in a designated rural area like homes or land in...
When looking at homes for sale, prospective buyers often make relatively fast decisions on which homes they find attractive and which ones they see as lacking in appeal. Since many of these decisions are based solely on how the home looks in marketing photos and during the buyer's visit to view the home, sellers who want to get the best possible purchase offers are wise to make sure that their homes are clean, attractive, and well-organized before putting them on the market. But even the cleanest, most well-prepared homes may not compete as well as hoped, especially if they are vacant during the showing process or fail to stand out in competitive markets like Kyle...
When it comes to painting a room, there are two options: hire someone to do it, or do it yourself. For many people, painting can seem like an intimidating project. However, painting can be a very straightforward process for any homeowner. Follow these easy steps to achieve a new look in any room in your Georgetown home.
Picking Paint
When it comes to paint, there are dozens of different types. For the average interior room, latex-based paint with an eggshell finish is a good choice. It provides just a little bit of shine and is easier to work with than oil-based paints...
Even brand new homes should undergo a home inspection. After all, a home is the one of the largest financial (and emotional) investments a person will make. Therefore, home inspections are necessary, and it's wise to have a professional home inspector do the job.
What Does a Home Inspection Include?
Generally, home inspections are included as part of the buyer's contingency requests to protect them from buying a home with hidden issues. Depending upon the agreement, sellers are responsible for having the requisite inspection completed in their Bee Cave home. However,...
Located about 30 miles outside of Austin, the city of Georgetown has been enjoying a trickle-down population boom as a result of the Austin's immense popularity. Since the start of the decade, the population has increased by more than 25,000 people, and it seems that growth will continue into the near future. This has caused an increase in home prices, as buyers are searching for gorgeous homes in the suburbs that are located close enough to where nearly everyone works. Currently, the median sales price in Georgetown is about $370,000, and home values are expected to continue to rise.
So, with this in mind, it's important to recognize the different trends that are influencing the local market conditions. Here's a few that we think you should know about:
The Population in the County Continues to Grow
Williamson County has enjoyed significant population growth during the last decade, and that growth is not expected to slow down anytime soon. In fact, according...
Sometimes a conventional night out on the town just isn’t enough. For residents of Cedar Park and Leander, there are a few unique venues to check out. In the case of Painting with a Twist and Sip and Stain, local residents have an opportunity to enjoy whatever beverages they like along with more creative pursuits like painting and sign making. Let’s take a look.
Painting with a Twist
Painting with a Twist is located in Cedar Park. At this establishment, attendees are free to bring their own beverages. Ice, refrigeration and wine chillers are provided and this venue also provides cups and allows patrons to bring in whatever food they like.
Past the food and drink, however, Painting with a Twist is all about creativity....
It is not only the demand for green home but the potential to save money over the lifetime of owning a home causing homeowners to look for affordable energy efficient improvements. Here are a few simple options for current and prospective homeowners to improve their energy usage and reduce their utility bills.
Energy-Efficient Appliances
Swapping out older appliances for newer models can provide homeowners with additional energy savings. Look for appliances with the ENERGY STAR® label. The use of such appliances have been known to save residential and commercial property owners approximately...
For many home buyers, building a new construction property is a dream come true. It's an opportunity for them to fulfill the very core of the American dream — purchasing land and building upon it. Buyers can customize the features within their home, make selections that fit their own preferences and desires, and create a piece of the world that is completely theirs.
So for buyers who are looking to invest in a new construction property, Austin and other Texas communities are like heaven on earth. A recent report released by Trulia and published in the Dallas News notes...
When searching neighborhoods for a new home, people often look for amenities like schools, shopping centers and area attractions for the members of their household. However, as any dog lover knows, pets have needs, too. Both Cedar Park and Leander have a few great places for dogs and their owners. Here are three of the best.
The Cedar Park Bark Park
There are dog parks, and then there is the Cedar Park Bark Park, which is almost like a resort for the dogs of Cedar Park residents. At the Bark Park,...
