A 1% drop in mortgage rates could add about 5.5 million potential homebuyers, including 1.6 million renters, by improving affordability. For example, on a $450,000 loan, monthly payments could decrease by over $200, easing the burden for first-time buyers and current homeowners. Lower rates may boost home sales and inventory, with some metro areas seeing […]

Defines your home-buying budget and clarifies what you can afford. Strengthens your offer to sellers, showing you are a serious buyer. Helps identify and fix financial issues before applying for a mortgage. Speeds up the closing process since documents are already reviewed. Provides confidence and peace of mind during your home search.

Mortgage rates have dropped to around 6.15%, the lowest in a year and below the long-term average of 7.7%, signaling a more affordable and stable housing market for 2026. This rate reduction means lower monthly payments and increased purchasing power. Buyers are advised to improve credit scores, manage debt, increase down payments, shop lenders, and […]

In 2025, it takes the typical U.S. household 7 years to save for a down payment, improved from 12 years in 2022 but still double pre-pandemic norms due to higher home prices and lower savings rates. Coastal metros require 20-35+ years, pricing out many buyers, while affordable Southern metros and military hubs often need under […]

Skipping pre-approval leads to unrealistic expectations and disappointment. Late credit checks can cause last-minute surprises and higher rates. Big purchases during approval ↓ mortgage amount you qualify for. Underestimating closing costs causes financial stress at closing. Working with a mortgage expert helps compare lenders and find best options.

Building a home can often be cheaper than buying an existing one, with the average cost to build in the U.S. at $318,634 compared to a median home price of $416,700. Prefabricated homes, such as modular and manufactured types, are more affordable due to partial factory construction. Simpler designs and cost-effective materials, like reclaimed wood […]