Renovations make your home more enjoyable. Plus, if you do them right, they may even increase your home's value. This comes in handy if you plan on selling your home in the future. But watch out! While some remodeling projects add value to your home, others do little to increase it and may even make your home less desirable to potential homebuyers.

Find out which renovations are the best and which are the worst.

Remember that Legacy Home Loans can help you get the funds to finance home renovations. With options like cash-out refinancing, FHA 203(k) rehab loan, a home equity loan, and HELOC, they can match you with a low-rate home loan to fund all your home repairs and upgrades. 

Best Home Projects to Boost Your Home’s Resale Value

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While the housing market remains vibrant for buying and selling, the supply continues to be an issue in these past years.

Low supply happens when there's an abundance of buyers but not enough houses for all of them. Many call it a "seller's market," which often results in a bidding war as multiple buyers compete for the same property. Here is how you can still get your dream home despite high competition. 

The Anatomy of a Bidding War

A bidding war in real estate happens when two or more parties compete for the seller's acceptance of their offer. This stressful situation can be intensified if the owner or listing agent knows there's a lot of interest and propose that everyone submit another higher and better offer.

Thus, you have now

There are many common mistakes first-time homebuyers make. Some are minor, while others can end up being costly. Fortunately, several of these mistakes are avoidable! Please read and share this article with other first-time homebuyers to help them spot these common errors before making them.

Mistake #1: Looking For A Home Before Getting Pre-Approved

When you shop for a home before approval, you run the risk of falling in love with a home that's out of your price range --ruining the whole home buying experience before you start.

Instead, focus on the finances first. Make sure you have enough saved for a down payment and the closing costs and get your pre-approval before you start home shopping.

Mistake #2: Buying More Than You Can

An origination fee is part of the multi-step process of getting a loan and includes the cost of processing the application, underwriting, and financing the loan. The lender may combine the fees into one charge or may list each one individually.  

Either way, origination fees are separate from your mortgage down payment and are often paid as part of your closing costs.

What Do Origination Fees Cover?

• Loan processing, such as reviewing your application and preparing documents.
• Underwriting, such as gathering and verifying your information, including your credit score.
• Loan Funding, such as "points" that lower your interest rate
  

How To Determine the Cost of Your Mortgage Origination Fee

The typical origination fee is

Owning a home is one of the surest ways to build personal wealth. But you don't need to have "wealth" to get started. There are many first-time buyer home loan programs available – each with its perks and particular qualifying requirements. In this overview, we'll share the 7 most popular first-time homebuyer programs.

Which of these is best for you? Apply online at Legacy Home Loans today to find out fast! 

FHA Home Loan

This mortgage is the go-to for many, especially first-time home buyers and those with less than ideal credit history. An FHA loan is guaranteed by the government, which allows lenders to expand their qualifying requirements. With an FHA, borrowers can also put less money down -- as little as 3.5%!

Low rates also

Are you considering a 30-year fixed-rate mortgage? We're not surprised. Thanks to an extended repayment period and fixed-rate, homeowners can count on a predictable low monthly payment. Here's what you need to know about a 30-year fixed-rate loan and it’s alternatives!

What is a 30-Year Fixed-Rate Home Loan?

A 30-year home loan is a mortgage that would be paid off entirely in 30 years if you make every payment as scheduled. 30-year mortgages typically have a fixed rate, meaning that the interest rate stays the same throughout the loan's life.

Benefits of a 30-Year Fixed-Rate Mortgage

• Lower payment: A 30-year term stretches out the loan's repayment, which often translates to a more comfortable monthly payment. 

VA home loans have impressive rates and terms, making them some of the most desirable mortgage loans to apply for. Curious as to what it takes to get a veteran home loan? Here's everything you need to know to get started!

How To Know If You Qualify for a Veteran Home Loan

You'll need a document that confirms that you meet VA home loan requirements. This document is called a VA Certificate of Eligibility (COE). It's an official document that proves that you are an active-duty military member, a veteran, a National Guard or Reserve member, or a surviving spouse of someone who served in the military in that capacity. 

While you're able to apply for a VA loan without a certificate of eligibility, you'll need to provide it before the home loan

Removing negative marks from your credit report isn't just for raising your credit score. It's also the key to getting approved for a home loan with a favorable interest rate. Use these strategies to eliminate negative information from your credit report.

Did you know that there are loan programs specifically for those with less-than-perfect credit? Contact Legacy Home Loans to learn about your mortgage options and how you can qualify while rebuilding your credit!

How to Remove Negative Marks on Your Credit Report

Submit a Dispute to Credit Bureau

The Fair Credit Reporting Act is a Federal law that says you have a right to an accurate report and can dispute any errors. The easiest way to that is online, but you can also mail your

Buying a move-in ready home is appealing, but there are benefits to purchasing a "diamond in the rough" too. Here are the top 5 reasons home shoppers prefer a fixer-upper!

Pro Mortgage Tip: Did you know that there are many home loan programs, especially for buying a home that needs renovation? It's true! Contact Legacy Home Loans to see which option is best for you.

Lower Price Point

Budget-conscious home seekers often check out fixer-uppers first. Properties that need TLC are typically priced on the lower end of the scale, and the slightly lower price may also be just what you need to break into that neighborhood you dream of living in. A word of caution, however. Before making an offer, request quotes from a few contractors to get an idea

Real estate sales are primarily a localized market. That's why you wouldn't ask a Dallas real estate agent for assistance in purchasing a duplex in St. Louis. Likewise, you wouldn't ask a San Diego mechanic to winterize your Denver car or a Tallahassee-based educator what he thinks about the public school system in Chattanooga, Tennessee.

While it's true that a professional's industry knowledge will extend nationally, their expertise is specific to the local market they serve. The same goes for mortgage professionals. Here are more reasons to choose a local mortgage professional's expertise over a faceless, impersonal "rocket" one. 

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Each neighborhood has a particular flavor that makes it