When you’re preparing to buy a new home, it’s critical to review your personal finances and start saving as much as possible. But you don’t need to become a full-fledged accountant to save more and spend more wisely. In addition to creating a budget you follow every week or month, take a look at the ideas below to help you prepare financially for buying a home. Get your debts under control. Pay down credit cards, student and auto loans, and other lines of credit. If you have many different debts, consider consolidating them into one monthly payment. Be sure to learn about the debt-to-income ra ..read more

There are so many benefits to becoming a Crown Mortgage Preferred Realtor Partner because we never sell our loans. ?300% more repeat and referral business than working with a mortgage broker ?Long term & personal relationship with client (15 or 30 years vs. 1 or 2 weeks) ?Clients have a person to talk to for questions, concerns & issues ?Conventional mortgage clients may have a way to reduce time for Private Mortgage Insurance (PMI) payments for which Realtor gets credit ?Low foreclosure rate (one of the lowest in the country) because someone there to help in the case of the unexpecte ..read more

In order to get a home loan, a borrower may be required to have a homeowner’s insurance policy in place. Here are a few tips to keep in mind when shopping for homeowner’s insurance (and yes, you should shop around!): Ask for the A.M. Best Rating of each company you look at. This will tell you how long each company has been around and what they can offer in terms of protection against potential risk. Investigate which companies offer ACV (Actual Cash Value) policies and which ones offer replacement cost policies. ACV policies pay claims based on the depreciated value of the item(s) lost ..read more

Ellie Mae – Vibrant Living, February 2023 The housing market is always evolving and shifting. Attempting to predict where it will head next is like trying to catch the Golden Snitch in Quidditch … sending you flying in all directions, often to no avail. Thankfully, we have economists and industry experts who study trends to offer a glimpse of what’s likely to transpire in the housing market. It may not be a crystal ball, but it’s the closest thing we’ve got. So, here’s a roundup of expert forecasts to give you an idea of what to expect for housing in 2023. A Buyer’s Market According to a pane ..read more

Ellie Mae – July 2022 Vibrant Living Newsletter Home is where the heart is, but it can also be where the money is. History has consistently shown that owning a home is linked to building wealth, with one study by the Federal Reserve showing that U.S. homeowners have a median net worth more than 40 times greater than renters. * Let’s explore how owning a home can provide a valuable financial safety net. What is Wealth? Unfortunately, for most of us, wealth is not a Scrooge-McDuck-style vault of gold coins we can dive into. (Which is okay because it seems like that would really hurt.) In person ..read more

In the early days of the coronavirus pandemic, our nation’s economy experienced a swift financial downturn. To minimize the damage, the Federal Reserve quickly stepped in and took action to stimulate and protect the economy. In March 2020, the Fed reduced the federal funds rate to 0% and also started purchasing massive amounts of Treasury bills and mortgage-back securities (MBS). Fortunately, the Fed’s plan worked, helping keep mortgage rates at historic lows, fueling consumer demand, and propelling the economy to grow at its fastest pace since the 1980s. But other factors, such as a tight la ..read more

Does your list of New Year’s resolutions involve improving your personal finances? Effective money management requires creating a game plan and conducting regular check-ins to help you meet your goals. As the end of the year approaches, this is the perfect time to evaluate your situation and set yourself up for success in the new year. Take control of your finances with these five steps. 1. Audit your spending. Did you overspend this year, or were you disciplined about staying within budget? Look at categories or times of the year you overspent, and see if you can find a pattern. For instance ..read more

In addition to a great rate and long-term personal relationship, Crown offers a Customer Appreciation Program for you and your family. As a Crown client, you and your family receive free appraisals and credit report when you purchase your next home with Crown Mortgage Company. Since Crown never sells your loan we make you a raving fan for the life of your loan by helping you get the best deal on you and your families next purchase. ? Call us today at (708)857-1897 to speak with one of our knowledgeable team members to learn more about our Customer Appreciation Program. The post Unexpected Bene ..read more

Good question. Why should you switch from renting to owning a home? After all, isn’t renting easier? Things get fixed for you. You might not have to pay for water or trash. If the water heater blows up, it’s likely your landlord will pay for it. But is renting really smart? The price you’re paying to rent an apartment or home is most likely about the same as – or maybe more than – a mortgage payment would be. And you don’t get these benefits when you’re paying for someone else’s property:   Building equity: When you own a home, your monthly mortgage payments build equity over time. You al ..read more