Jen Cluthe, Realtor

04/20/2022

Saving for your down payment takes self discipline and time. With that comes sacrifice too. If you had to let one of these go, which one is going?

04/12/2022

Renting vs Owning – Which is Right for You?

If you’re thinking about moving this year, you may wonder if renting or owning is the best choice? While there isn’t a one-size-fits-all approach to the matter, there are certain questions you should ask yourself to decide.

Do you Have Long-Term Plans?

When you buy a home, you can’t move as easily as you can when you rent. If you are ready to settle down in an area and commit, there’s no question that buying is better. But, if you aren’t sure where you want to settle down yet or you enjoy moving every year, renting may be the better choice until you are ready to set up roots.

Do you Have Money for a Down Payment?

Most loan programs require at least a small down payment. When you put money down on a home, you build equity in the home right away and you make your loan more affordable. Lenders require some ‘skin in the game’ to ensure you’ll make your payments on time and not risk losing the home.

Can you Take Care of a Home?

When you rent, the landlord oversees all renovations and repairs. When you own a home, the responsibility falls on you. If you’re able to handle the financial and physical responsibilities of owning a home, it is much better than renting. On average, it costs 1% of a home’s value to keep up with maintenance and repairs.

Can you Qualify for a Mortgage?

Unless you have the cash to buy a house (most people don’t), you’ll need to qualify for mortgage financing.

The good news is you don’t need to be rich or have perfect credit, but you should meet some or all of the following:

Have at least a 620-credit score
Have 3% – 5% of the sales price for a down payment
Have a steady job and steady employment
Don’t have any recent bankruptcies or foreclosures
Don’t have excessive credit card debt outstanding
Do you Want the Freedom to do What you want with your Home?

When you rent, you don’t have the freedom to do what you want with it. You must get your landlord’s permission to make any changes, or even to have pets. When you own a home, you make the decisions and can do what you want with the property within the city or homeowner’s association’s guidelines.

Final Thoughts – Should you Rent or Buy?

Renting a home doesn’t build equity or give you a return on your investment. Buying is the best way to go when you are ready.

If you have the money saved, have a stable job, and are already to settle down, then buying a home can be the best way to invest your money and give you and your family a great place to live. Knowing where to buy and what to buy to stick within your budget but get a great return on your investment is key. If you’d like help buying your dream home in 2022 – contact me today!

04/10/2022

04/09/2022

What is a First Time Buyer Program and How do you Qualify?



First-time homebuyers have one major obstacle – the down payment. When you already own a home and sell it to buy another, usually you have equity to use for the down payment. You don’t need much money out of your own wallet, making it easier to qualify for financing.

If you’ve never owned a home before, though, you don’t have equity to fall back on and you might not have enough money for a down payment. Does this mean you can’t buy a new home?

Fortunately, there are federal first-time buyer programs to help.



Good Neighbor Next Door



The Good Neighbor Next Door program is a HUD program that is for anyone that works in public service such as police, firefighters, teachers, nurses, or doctors. If you buy a HUD home in a specified area of your state, you can buy the home for 50% less than its purchase price.

When you buy the home, you’ll sign a second mortgage note for the 50% discounted amount of the purchase. If you stay in the home for 36 months, the 2nd mortgage is forgiven and you own a home with over 50% equity in it.



HomePath Ready Buyer Program



The HomePath program is another way to revitalize certain areas of the state, only this program focuses on foreclosed homes.

The program is only for first-time homebuyers and requires just 3% down. However, you can apply to get 3% of your closing costs back to offset the down payment. You must be willing to live in the home full-time and be able to accept a home as-is, which might mean that it needs some repairs or renovations.



USDA Loans



Another option is the USDA loan. Many people avoid it because they assume they have to live in the middle of nowhere to qualify.

You don’t.

USDA loans are for low to moderate-income families that don’t qualify for any other financing options. It’s great for first-time homebuyers because you don’t need a down payment – you can buy a house with no money down and less than perfect credit.

The only catch is your total household income must be less than 115% of the area’s average income. If your household income exceeds this amount, you wouldn’t be eligible.

State and Local Grants

There are also opportunities for state and local grants for first-time homebuyers. The programs vary by location. It’s always worth inquiring at your state and local level about options for first-time homebuyers because you never know when there’s an opportunity.



Final Thoughts

If you’re a first-time homebuyer hoping to buy your first home but need financial help, let me help you. Together we can explore your options from financing for first-time buyers to grants or other programs available.

There are many ways to make buying your first home possible, but it starts with taking that first step and deciding you’re ready to be a homeowner.

04/08/2022

Getting your house ready to sell takes a lot more than luck and positive vibes. It takes work!

Below I’ve listed the most important tips for your to-do list.

✅ Improve Curb Appeal: First impressions matter you know… 💁 And what do buyers see first? Your yard! Enhance your front yard to leave a lasting impression on your buyers.
✅ Eliminate Clutter: I’m sure you knew this was coming! Try and put yourself in the buyer’s shoes, would you want to view a messy, cluttered home? ⛔
✅ Deep Clean: A clean house leaves a strong impression for buyers and is absolutely essential to get your home sold faster. Your buyers should feel a sense of freshness after they view it, not like they need to triple sanitize afterwards. 😑
✅ Depersonalize: Take the home out of the house. Yes, it’s important to make sure your house has a “homey” feel but you also have to allow your buyers to imagine themselves in your home. It’s hard to do that when pics of your family vacay are everywhere they look. If you don’t know what should stay and go, consider hiring a stager. 🏠
✅ Make Repairs: That doorknob that needs a good jiggle- and sometimes a secret password, the electrical sockets that haven’t worked for decades.



Now that you’re selling it’s super important to see these “quirks” in the eyes of your buyers because some of them might just be deal-breakers. 😱

04/07/2022

04/07/2022

Welcome to my new real estate page! I'll be sharing new homes that hit the market as well as, everything real estate! Tips, tricks and thoughts.