What Is an Interest-Only Mortgage?

What is an interest-only mortgage? It’s a type of home loan where you start off paying only the interest for a certain time period, followed by a time where you pay back both the interest and principal.

Most interest-only home loans are adjustable-rate mortgages, or ARMs, says Scott Sheldon, a senior loan officer and consumer advocate in Sonoma County, CA.

An ARM, also known as a variable-rate mortgage, is a loan that starts out at a fixed, predetermined interest rate that’s likely lower than what you would get with a comparable fixed-rate mortgage. However, the rate adjusts after a specified initial period—usually three, five, seven, or 10 years—based on market indexes.

Read more HERE.

10 Steps in the Homebuying Process

If you’re thinking of buying a home and you’re not sure where to start, you’re not alone.

Here’s a guide with 10 simple steps to follow in the homebuying process.

Be sure to work with a trusted real estate professional to find out the specifics of what to do in your local area.

5 Styles Fixer Upper Has Dropped

Chip and Joanna Gaines are home renovation royalty. They’ve gone from the debut of their smash hit, HGTV show “Fixer Upper,” in 2013 to running their own network, Magnolia.

A large part of their success (aside from their adorableness as a couple) is their keen sense of design, which they’ve honed into a highly marketable style known as modern farmhouse. And while the tenets of their signature style have endured (think: reclaimed wood, white paint,  comfortable no-frills furniture), their aesthetic hasn’t remained static by any means, and has evolved over time.

Curious to see how Chip and Joanna’s decor style has changed over the years? Here’s a look at some of their early fads that have since faded from their repertoire, and the new styles that have taken their place.

Want to Buy a Fixer Upper?

If you watch a lot of shows on HGTV, the idea of buying a home in need of some TLC for a bargain and sprucing it up sure can sound appealing. Many among us fantasize about embracing their inner interior designer, taking a rundown home and giving it the Chip and Joanna Gaines treatment.

Smaller-scale home-improvement projects might have a better return on investment. For instance, a can of paint or two costs hardly anything, and research shows that painting the rooms in your house the right color can add as much as $3,000 to the home’s sale price.

With anything bigger than that, you’re unlikely to recoup your investment.  Read more HERE.

5 Color Trends That Will Dominate This Year

With COVID-19 vaccines rolling out and the promise of a not-so-distant future where life is normal again, now seems like the perfect time to bring your place out of the dark ages of decor and into the bright and beautiful light of 2021.  Fixr surveyed 68 of the nation’s top influencers and designers about the year’s top color trends, and we’re sure these exciting new palettes and design schemes will help inspire your next interior styling session. Read more HERE.

What To Expect in 2021’s Housing Market

With vaccines rolling out, the days of the deadly pandemic that bludgeoned the nation’s economy seem to be numbered. Good riddance! But the soaring home prices that became a hallmark of the COVID-19 crisis may be here to stay.

Realtor.com®’s 2021 housing forecast predicts record-high prices will continue rising in 2021, delivering a blow to first-time buyers and those on a budget. Mortgage interest rates, which hit historic lows this year and helped fuel the go-go growth in U.S. housing markets, are also expected to tick up again, making monthly housing payments ever more expensive.

Read more HERE.

How Long Does It Take to Build a House?

How long does it take to build a house? It’s a question often posed by people looking to buy an idyllic piece of land so they can construct their dream home from the ground up. If this describes your current housing sitch, you’ve come to the right place!

So before you invest in that spacious lot with stunning views and mature trees, it’s wise to consider the time it’ll actually take to build the place you’ll be living in.

Depending on the site and zoning classification, it typically takes from three to six months to build a house.

Read more HERE.

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