Author Archives: Sabrina Mapes

When buying a home, you’ll probably hear your lender or real estate agent use the word escrow. The term escrow can describe a few different functions, from the time your offer is accepted to the day you close on your home — and even after you become a homeowner with a mortgage. There are essentially two types of escrow […]

At the height of the pandemic, more than 7.2 million homeowners were in the mortgage forbearance program, which allows some borrowers to pause their payments. The economy has since posted one of the fastest recoveries in history. Now, just 1.7 million borrowers are enrolled in the forbearance program. But soon it’ll be zero. The Biden-Harris administration has […]

About 46 percent of home buyers are purchasing a home for the first time, and with that first home can come particular financial hurdles around saving for a down payment, and paying for closing costs. About two-thirds (64 percent) of first-time buyers put less than 20 percent down on their first home, and a quarter put down 5 percent […]

Experts dismissed housing-bubble concerns earlier this year, but they’re not anymore. Key data points are on track to reach bubble levels soon, though most sit below their 2006 peaks. Here are three signs the US is hurtling toward another housing bubble — if it’s not there already. The US housing market doesn’t seem to be […]

Like most major milestones in life, becoming a first-time homeowner comes with quite a few learning curves. Even after you close on the house and it becomes officially yours, there’s still a lot to learn when it comes to taking care of the place—and setting yourself up for long-term success. Having recently purchased my first […]

It’s never too late to begin fine-tuning your credit habits if buying or refinancing is in your future. Let’s just cut to the chase — your credit score is super important. This three-digit number will be examined by banks, mortgage companies, and other lenders to see if they consider you to be a credit risk. […]

Whether you’re currently renting or need a down payment on a house fast, use these creative ways to save for a down payment. If you’re ready to make the jump from renter to homeowner, you’ll most likely need to save for a down payment. The typical down payment on a home is between 3% and […]

Searching for your dream home and wondering if it’s worth buying a fixer-upper and making it your own? Here’s what you need to know. While the process of buying and renovating fixer-upper homes has increased in popularity due to fix-and-flip home improvement TV shows, not everyone is cut out for  major renovation projects.  In fact, […]

On average, it takes 4 ½ months to shop for a home, plus an additional 30-45 days to close on a home once you are under contract. But of course, the timeline can vary widely based on factors like the time of year, your financing needs, the type of home you’re looking for, and the inventory in […]

The national inventory of active listings declined by 43.1% over last year, while the total inventory of unsold homes, including pending listings, declined by 20.3%. Newly listed homes on the market are up 5.5% nationally compared to a year ago, and 11.7% higher for large metros over the past year. However, sellers are still listing […]