Infographic Comparing Buying this Year and Waiting Until Next Year

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Interest Accrual Rate: The percentage rate at which interest accrues on the mortgage. In most cases, it is also the rate used to calculate the monthly payments.

Key to Homeownership Program

ATTENTION RENTERS! If you are already in the market for a home, or thinking about becoming a homeowner then check out this program through EVAR!

Consumer Reporting Agency: An organization that handles the preparation of reports used by lenders to determine a potential borrower’s credit history. The agency gets data for these reports from a credit repository and from other sources.

How Homeownership will Matter Later on in Life

As we have told you there are numerous benefits to owning your own home, but in the big scheme of it all the wealth that a home can build and the security of a home are very important things that you can one day pass on to the next generation.

In 2018, the typical homeowner accumulated $9,500. Whereas a recent report from the Joint Center for Housing Studies at Harvard University revealed that a renter 65 years old or older has a net worth of $6,710. Meanwhile, a homeowner 65+ years old has a net worth of $319,200.

Later on in Life, Wealth is Crucial

Wealth is important for you to retire, it is also important to end of life care, funeral costs, debt that you don’t want your children to incur. Homeownership allows families better options for their lives, throughout all the stages of their lives.

Mortgage Meme

You should always try a mortgage broker first. We hope you don’t learn this the hard way.

Escrow Deletion Letter: A letter, signed by both buyer and seller, which deletes the escrow agent listed in the purchase agreement and names a new escrow agent.

Mortgage Meme

If you are still renting contact us and see what we can do to help you become a homeowner! Our phone number is 909-335-7100 or if you are local to Redlands stop by anytime to our office at 127 E. State St. Redlands, Ca. 92374 or email me today at Marvinh@viewpointfinancial.com. DRE #00959073 NMLS# 1704379

Boomerang Home Buyers Afraid to buy Again

What is a Boomerang Homebuyer?

The definition of a Boomerang Home Buyer is a former homeowner who has gone through a bankruptcy, a short sale or a foreclosure in the past few years.

Millions of Americans who Lost Their Homes During the Foreclosure Crisis are Looking to Become Homeowners Again

According to several reports 7.3 million “Boomerang Home Buyers” will be returning to the housing market over the next eight years. The reason they are coming back to the market now is because 2017 was the seven year mark for the first wave of many of the foreclosures to start dropping off of some people’s credit scores and this wave will continue over the next eight years then add to that the employment rates and the lower interest rates of the housing market and it all adds up to where we are now in 2019.

Many Americans are Hesitant

“Thirteen percent of Americans have lost a home due to a financial event such as foreclosure in the past 10 years. More than 6 in 10 of them (61%) have not bought a home since, and 20% of those who haven’t repurchased say they never plan to again.” (NerdWallet) Not only did the housing market crash affect the adults in 2008 but the millennials who are now of home buying age are very weary of buying homes because they remember it as well.

The Bottom Line

If you lost a home due to a financial event but would like to review your options give us a call or stop in today and we will review your options will you.

City Inspection: An inspection of the property required by some cities. The seller is required to meet specific property standards established by the city. Properties that meet these standards may be issued a certificate of occupancy.