The mortgage on a median-priced home in America is up 13 percent from the first part of 2017. This could make it more challenging for Delaware homebuyers this spring season. When a buyer takes taxes and other costs into account, a total mortgage payment can easily...
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Year: 2018
Residential real estate sales fall as mortgage rates rise
On Behalf of Tunnell & Raysor, P.A. | Mar 8, 2018 | Residential Real Estate
People in Delaware may be closely following trends in the residential real estate market as they look to purchase a home or relocate by selling their home and searching for a new residence. Across the United States, mortgage rates are rising, and it appears that fewer...
The commitment of buying a home together
On Behalf of Tunnell & Raysor, P.A. | Feb 20, 2018 | Residential Real Estate
Buying a home may be one of the most significant purchases a person makes. For Delaware couples who decide to purchase a home together, it can turn out to be more of a commitment than getting married. Engaged couples who decide that they no longer want to get married...
Mortgage rates continue to increase
On Behalf of Tunnell & Raysor, P.A. | Feb 7, 2018 | Mortgages
Delaware homeowners may soon be paying more on long-term mortgage rates. Interest rates are rising because the Federal Reserve is taking action to keep inflation at a reasonable level. It is expected that the Fed will raise rates at its March meeting. The national...
What to do prior to making an offer on a home
On Behalf of Tunnell & Raysor, P.A. | Jan 22, 2018 | Residential Real Estate
While buying a home may be an admirable goal, Delaware residents will need to prepare ahead of time to achieve it. For instance, it may be necessary for individuals to look at their budgets to determine how much home they can afford. They should look to see how much...
What to know about HECM reverse mortgages
On Behalf of Tunnell & Raysor, P.A. | Jan 8, 2018 | Residential Real Estate
Older Delaware residents may be interested in using a HECM reverse mortgage to purchase a house. The reverse mortgage itself will cover up to 60 percent of the purchase price, and buyers tend to liquidate assets to cover the remaining balance. There is a 2 percent...