Author: Allen Tate Companies

14 Mar 2019

17 tips for selling a home

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Much like buying a first home, selling your home can be tricky if you don’t know what to expect. From staging to showing your home there’s a lot to navigate, so we’ll walk you through the entire process, step by step. 17 tips for selling a home Tip #1: Find the right real estate agent Your first step is to choose the right listing agent. You’ll need someone who can leverage their expertise to get your house sold, and this is certainly no small feat. During the listing appointment, the right agent should present you with a full marketing plan as to how they plan on successfully selling your home in a timely manner and for the right price. You’ll also want someone...
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8 Mar 2019

Home buying: What is a Homeowners Association?

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If you’re looking to purchase a home, condo or townhome in a planned neighborhood built post 2000, there’s a good chance you’ll need to become a member of it’s homeowners association (HOA.) And if you’re new to the home buying process, the question “What is an HOA?” may be coming to mind right about now. What is a Homeowners Association? A HOA is an organization that determines the rules of the community it manages and ensures that community rules are followed by all residents. These types of rules may cover issues such as exterior paint color, whether you can have a satellite dish, the size and type of pets permitted, permissible types of fences and types of vehicles allowed to park...
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28 Feb 2019

What is a mortgage?

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It's a good idea to know the ins and outs of a mortgage before you sign one, so let's dive into what it is, what it's made of, and how to pay it off. Simply put, a mortgage is a real estate loan. You get a mortgage from a bank or lender that allows you to purchase a home, and that new home serves as collateral for the loan. This means the bank or lender can take your house back if you fail to pay off the loan according to the terms of the mortgage. A monthly mortgage payment has four pieces: principal, interest, insurance and taxes. What is principal? The principal is the total amount you borrowed, less any payments you've made toward that amount....
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21 Feb 2019

18 tips for first time home buyers

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An impulse buy is fun when it's a pack of gum in the checkout lane or a trinket from the clearance bin. But purchasing your first home, even in a hot market, is not the time to make an impulse buy. You want the confidence that comes with step-by-step preparation for this exciting journey. Follow these start-to-finish tips and you'll be a confident and prepared soon-to-be homeowner. Tips for saving for a down payment A realistic budget is indispensable when it comes to buying your first home. You'll need to budget for a down payment, monthly mortgage payments (including property taxes and homeowners insurance), and closing costs. You'll also want extra funds for moving costs and unforeseen repair expenses once you move in...
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12 Feb 2019

Down payment gift guidelines

down-payment-gift
Remember when you were little and grandparents asked you what you wanted for your birthday? You likely handed them a detailed list of toys and clothes you’d like to add to your growing collection. These days the answer to that same question is probably a little easier: You’d like cold, hard cash. How does the line go? Oh yeah. Show me the money! Why? Because being an adult is expensive, Grandma. And because you’ve been saving every last dime for a down payment so you can give your roommate a 60 day notice and get your own place. Down payment gift money What is down payment gift money? When it comes to buying a home, a down payment of 20% is the amount lenders prefer. However...
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4 Feb 2019

First time home buyer programs in North Carolina

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You only get to buy your first home once. Why not make it as stress-free as possible? With that goal in mind, we've put together a list of what you need to know about the national and statewide programs available to first-time home buyers in North Carolina. One of these six options could help you achieve the milestone of first-time home ownership. Which one looks like it's right for you? First time home buyer programs in North Carolina NC Home Advantage Mortgage First-time home buyers in North Carolina can benefit from the stable, fixed-rate mortgages offered by the NC Home Advantage Mortgage. Managed by the North Carolina Housing Finance Agency, the program also offers down payment assistance up to 5% of the total loan. And...
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15 Jan 2019

How to become a real estate agent in NC

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If you have an entrepreneurial mindset, people admire your unstoppable work ethic, and you love building relationships with people, you could be the perfect candidate for a career in real estate. But where do you even start? If licensing, course work and selecting a firm seem overwhelming, you can relax. We've laid out each step in the process of becoming a real estate agent in North Carolina. And if you find yourself with questions, we're here to help. Contact us any time with your questions and we'll gladly help you through the process - because we know firsthand how fulfilling a real estate career can be. Step 1: Know the Requirements The requirements for obtaining a license to practice real estate vary from state to...
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6 Dec 2018

What is a good credit score to buy a house?

What-is-a-good-credit-score-to-buy-a-house
One of the keys to unlocking your dream home is understanding the state of your financial health, not wealth. If you will be using a lender to finance your home, you will need to know what is a good credit score to buy a house. While income, savings and downpayment are important, it’s your credit score that will qualify you for a loan and help determine the kind of interest rate you will pay. Before we dive too deep into what is a good credit score to qualify for a home loan, let’s start with the basics to help keep your head from spinning. What is a mortgage? This doesn’t have to be complicated. A mortgage is a loan issued by...
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28 Nov 2018

How to buy a house in 2019

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If you’ve never purchased a home before, the thought of buying your first home can seem like a daunting process. In 2018, we saw low housing inventory levels coupled with buyers’ insatiable demand for affordable housing create a pretty strong seller’s market. Experts are predicting a more balanced market for 2019, citing rising new housing construction to help create a more favorable housing landscape. So how do you navigate the road to home ownership? Here’s everything you’ll need to know about how to buy a house in 2019: Review your credit score Unless you’re paying all cash for your new home, mortgage lenders will want to see a copy of your credit report. Why? Because your credit report is a pretty clear indicator of how responsible...
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