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Borrower Blog

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Borrower
Blog

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Stay Informed: ARDRI's Borrower Blog for First-Time Home Buyers & Market Updates

Welcome to the ARDRI Borrower Blog, where we provide valuable insights and updates to help first-time home buyers navigate the path to homeownership. Our articles cover everything from essential tips for securing your first mortgage to the latest trends and news in the mortgage market. Whether you’re exploring your financing options or staying updated on industry shifts, our blog is your go-to resource for making informed decisions and staying ahead of the curve in your home buying journey.

Explore the articles below to gain valuable insights and deepen your understanding of the home buying process.

Understanding Closing Costs: What Every Buyer Should Know

Buying a home is an exciting journey, but it comes with its share of expenses—one of which is closing costs. Many first-time buyers are surprised by these additional costs, which can add up to thousands of dollars. As a mortgage professional, I’m here to break down what closing costs are, what they cover, and how…

How to Prepare Financially for Buying a Home in the New Year

As the New Year approaches, many people set resolutions to achieve major life goals—and buying a home often tops the list. If you’re planning to purchase a home in the coming year, taking steps now to prepare financially can make the process smoother and more rewarding. Here are some key tips to help you get…

Who Should You Talk to First: A Mortgage Professional or a Real Estate Agent?

If you’re planning to buy a home, you might wonder who you should talk to first—a mortgage professional or a real estate agent. Both play critical roles in the home-buying process, but the order in which you consult them can significantly impact your experience. Here’s a breakdown to help you decide. Why Start with a…

Top 5 Most Common Mortgage Types

When it comes to financing a home, choosing the right mortgage is crucial. With so many options available, it can feel overwhelming for first-time buyers and even experienced homeowners. Below are the top five most common mortgage options. 1. Conventional Fixed-Rate Mortgage A conventional fixed-rate mortgage is one of the most popular mortgage types. With…

What the Current Drop in Mortgage Rates Could Mean for the Housing Market

Fluctuations in mortgage rates can significantly impact the housing market. Recently, there has been a drop in rates, and this change brings both opportunities and challenges for buyers, sellers, and industry professionals alike. For potential homebuyers, a drop in mortgage rates often translates to increased purchasing power. Lower rates mean lower monthly payments, allowing buyers…

How Rising Home Prices Impact Your Buying Power

Home prices have been on the rise, and this trend can significantly impact your ability to buy a home. Buyers often feel priced out of their desired neighborhoods or are concerned about stretching their budget. It’s essential to understand how rising prices affect not just what you pay upfront, but also your monthly payments and…

5 Hidden Costs of Buying a Home

When buying a home, it’s easy to focus solely on the purchase price, but there are several hidden costs that can catch you off guard. Understanding these additional expenses is crucial for proper budgeting and avoiding financial surprises. Here’s what to budget for beyond the mortgage. 1.) Closing Costs Closing costs typically range from 2%…

Understanding Mortgage Rates: Predictions and Trends for 2024

As we continue into 2024, prospective homebuyers and homeowners looking to purchase or refinance are keenly observing the mortgage rate trends. Understanding these rates is crucial as they directly impact your monthly payments and the overall cost of your mortgage. Let’s delve into the current landscape and forecast what we might expect throughout the year.…

Navigating Home Buying in the Winter Market: Advantages & Strategies

Being in the mortgage industry we see and study the ebbs and flows of the housing market throughout the year. While spring and summer are traditionally seen as the peak times to buy a home, there are compelling reasons to consider starting your home-buying journey in the winter. Here are some advantages and strategies for…

First-Time Homebuyer Programs and Incentives: What’s New in 2024?

Navigating the journey to homeownership can be a complex process, especially for first-time buyers. Fortunately, 2024 brings a suite of updated programs and incentives designed to make this journey smoother and more affordable. Whether you’re just starting to consider purchasing a home or are actively searching for one, understanding these new opportunities can significantly impact…

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