Our Mortgage Blog in St. Louis, MO

The Benefits of Buying vs. Renting

The decision between buying vs. renting a home is a significant financial decision that many individuals face. Each option has its own set of benefits and considerations, influenced by factors such as location, personal financial situation, and long-term goals. As a St. Louis mortgage broker, we will explore the advantages of buying vs. renting, focusing on aspects like building equity, tax benefits, and overall financial stability. Building Equity and Financial Investment One of the primary benefits of buying a home is the ability to build equity over time. Homeownership allows individuals to accumulate home equity as they pay down their...
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Home Maintenance Tips for New Homeowners

Taking care of your new home is essential to avoid costly repairs and maintain its value. Here are some essential home maintenance tips for new homeowners, from a mortgage broker, to help you get started. Creating a Monthly Home Maintenance Checklist A monthly home maintenance checklist can help you stay on top of essential tasks. Regular maintenance can prevent minor issues from becoming major problems. Check your HVAC filters monthly and replace them as needed to keep your HVAC system running efficiently. Inspect your water heater for leaks and test your smoke detector and smoke alarm. Cleaning gutters regularly is...
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St. Louis Neighborhoods: Choosing the Right Community for Your New Home

St. Louis is a city with a rich history and a diverse array of neighborhoods, each offering unique characteristics and charm. Whether you’re looking for a bustling urban environment, a historic district, or a quiet suburban area, St. Louis neighborhoods have something to offer every resident. From the lively streets of the Central West End to the peaceful parks of South St. Louis, choosing the right community for your new home is essential for a fulfilling living experience. Exploring Central and West St. Louis The Central West End is one of the best neighborhoods in St. Louis, known for its...
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What is PMI Insurance?

Understanding PMI Insurance PMI insurance, or private mortgage insurance, is a type of mortgage insurance you might be required to pay for if you have a conventional loan. Typically, PMI insurance is required if your down payment is less than 20% of the home’s purchase price. This insurance protects the lender in case you default on your loan. While PMI insurance provides benefits to the lender, it can also help you as a borrower to qualify for a loan that you might not otherwise be able to get.  The Cost of PMI Insurance The cost of PMI insurance can vary...
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Homebuyer Anxiety vs. Institutional Optimism

Amidst an era of financial unpredictability, the discourse surrounding mortgage rates has captivated the interest of many. While a substantial segment of consumers brace for heightened rates, Fannie Mae injects a note of optimism, forecasting a forthcoming ‘thaw’ in the housing market dynamics. Understanding Mortgage Rates Mortgage rates, the interest levied on home loans, significantly influence housing affordability and market activity. A retrospective glance reveals a volatile journey, punctuated by economic upheavals and policy shifts, sculpting the landscape of home ownership. A confluence of economic indicators and Federal Reserve policies orchestrates the rhythm of mortgage rates. Inflation trends, employment statistics,...
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Will Spring Ever Come for the Housing Market?

As the spring buying season approaches, hopes for a thaw in the housing market’s frozen conditions are diminishing. Despite the anticipation of warmer weather, recent indicators suggest that the challenges plaguing the real estate landscape are persisting. Let’s delve into the latest developments and explore what potential homebuyers can expect as they prepare for the spring market. Persistent Challenges A recent report from CBS News highlights the ongoing challenges facing the housing market, including soaring home prices, fluctuating mortgage rates, and concerns about inflation. These factors continue to weigh heavily on prospective buyers, contributing to a sense of uncertainty and...
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Sailing the House Seas in 2024

As we step into the new year, the housing market remains a dynamic and ever-evolving landscape, influenced by a myriad of factors ranging from economic conditions to demographic shifts. For potential homebuyers in St. Louis, it’s crucial to stay informed about the market trends to make well-informed decisions. In this post, we provide a comprehensive overview into the projected housing market for 2024. Economic Outlook The housing market is intrinsically linked to the overall economic health of a region. According to the latest reports from the U.S. Bureau of Economic Analysis (BEA) and the Federal Reserve, the national economy is...
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Navigating the Chilled Waters of the Frozen Housing Market

As winter blankets the nation in a layer of frost, it’s not just the weather that’s experiencing a chill. The housing market, too, is exhibiting signs of a freeze, with various factors contributing to the cool-down. In this article, we’ll explore the nuances of the frozen housing market, drawing insights from trusted and verified sources to provide a clear picture of the current conditions. Inventory Constraints The National Association of Realtors (NAR) reports a persistent challenge in the form of limited housing inventory, a factor contributing to the slowdown in the market. Many regions are experiencing a shortage of available...
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