Chelsea State Bank is pleased to announce its partnership with Monica Juleff at Liberty Title and Julie Slusser at Reinhart Realtors to host a First-Time Homebuyer Seminar Wednesday, April 13 to help individuals and families learn how to become a first-time homeowner. “As the community bank, we want to do all we can to help… Read More
What to Do When the Home Appraisal Is Lower Than Offer
If the appraisal for your dream home is lower than your offer, you need to look at your next steps. Don’t panic, you do have many options. Check Appraisal Contingency Clause First, look over the appraisal contingency clause. This clause generally allows you to reevaluate the situation or renegotiate if needed. Maybe the appraisal estimate… Read More
Save To Buy Your First Home – How Much Do You Really Need?
Becoming a homeowner is a huge financial undertaking, requiring far more than a simple down payment. So how do you determine exactly how much do you need to save to buy your first house? First, start by figuring out where and how you want to live. The more you can identify your preferred home area,… Read More
Get A Mortgage Prequalification Before Starting Your Search
Know before you buy – good advice for all consumers, especially when buying your first home. There’s a certain logic to doing things in a specific order. Getting prequalified is one of those logical first steps when thinking of buying a home. The mortgage prequalification process helps you focus your search on the types of… Read More
7 Additional Costs With Buying a New Home
Becoming a homeowner is a huge financial undertaking. In addition to the upfront costs like a down payment, getting loan approval for the appraised purchase price of the home and closing costs, you also need to calculate how much money you will need after for costs with buying a new home. It’s more than just… Read More
7 Reasons to Buy a House for Financial Benefits
Home ownership makes sense for millennials for an assortment of social and family reasons. It also makes sense financially, both in the short and long-term. We have compiled 7 reasons to buy a house for financial benefits (plus a few credit score bonuses) as of April 2019: 1) Tax Deductions and Benefits Home ownership comes… Read More
Using a Monetary Gift for Home Down Payment
Saving a down payment is one of the most important—and often most challenging—aspects of buying a home, especially for millennials. Unfortunately, many millennials struggle with getting a down payment together. In a 2017 Zillow survey, nearly 70 percent of renters said saving a down payment was the biggest hurdle to buying a home. Starting in… Read More
4 Reasons Millennials Want to Buy Instead of Rent a Home
Buying a home has always been built into the American dream, but in the wake of the housing crash, a new generation of homebuyers is treading more carefully whether to buy instead of rent a home. Having the experience growing up during the Great Recession, there are some things that prospective millennial home buyers will… Read More
Costs When Buying Your First Home
Thanks to less-than-ideal market factors like the mortgage crash of 2008, the ongoing student debt crisis, and record-setting unemployment rates, many Millennials have had to delay major life events including home ownership. But over the past few years as the U.S. climbed out from the Great Recession, opportunities for millennial home ownership has improved. The… Read More
How to Get a Mortgage with Little or No Down Payment
You want to buy a home but have little or no money for a down payment. First, don’t give up because there are options. No Down Payment Mortgage Option Take a look at a no down payment United State Department of Agriculture (USDA) loan through the Department of Agriculture. The USDA’s Rural Development mortgage guarantee… Read More