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Home Buying Blogs – Durango

Home buying advice for Durango residents from the Colorado Property Group.

Found 17 blog entries about Home Buying Blogs – Durango.

By Ryan Poppe - Last Updated: Tuesday, July 2nd, 2019.

Adjustable or Fixed-rate MortgageThe average homebuyer financing their home may only be focused on getting approved for a mortgage loan by their mortgage lender and know little about how interest rates may impact them over the lifetime of their home loan. When it comes to home mortgage loans, there are a number of options available with homeowners eligible for an adjustable rate or fixed-rate mortgage.

Homeowners need to make timely monthly payments on their home loan. However, some types of home loans may lead to financial stress in the future, as when the interest rates on a sizable home loan increase. Learn more about adjustable and fixed-rate mortgage loans to pick the best option for specific homeownership needs.

For informational purposes only. Always consult with a

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By Ryan Poppe - Last Updated: Tuesday, April 30th, 2019.

4 Red Flags You Need To Know When Buying a New HomeBuying a new home is a huge undertaking that can change lives for better or for worse, and buyers need to be on the lookout for things that can potentially harm them so they can protect themselves from a bad deal. Knowing the different red flags can help buyers decide if the home they’re looking at is the home of their dreams or if it’s actually a nightmare in disguise. Here are some of the big red flags all home buyers need to be looking for when attending home showings so they can protect themselves from a bad investment.

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.

1. The Listing Has Few or No Photos

Photos are extremely important when trying

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By Ryan Poppe - Last Updated: Tuesday, April 16th, 2019.

Should I Pick a 15 or 30 Year Mortgage?When buying a new home, most people will need a loan or mortgage. So deciding between a 15- and 30-year mortgage is an exercise in future planning that not all home buyers want to complete. Overwhelmed at the expense of the down payment, a homeowner may choose a 30-year without really thinking. But before choosing the more budget-friendly payments of a 30-year mortgage, it may be time to consider what that will spell for a person's overall finances. Here are a few key points to keep in mind before opting for a mortgage type.

For informational purposes only. Always consult with a licensed mortgage professional before proceeding with any real estate transaction.

Remember the Interest

For some home buyers, there's no question between the two

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By Ryan Poppe - Last Updated: Tuesday, March 5th, 2019.

What Home Buyers Should Know About PoolsFor some people, having a home with a pool is the ideal dream. Pools can be great, especially during the hot summertime, and they can be an excellent excuse to invite friends over for a get-together to have a barbeque and go for a swim. However, pools require a lot of special attention that isn’t necessary otherwise, and some home buyers go into getting a pool without knowing what they’re getting into. Sometimes, it might be best for a homeowner to construct an addition to their home vs. spending the money on a pool. Here are some of the things home buyers need to account for when they buy a home with an existing pool or are considering building a swimming pool.

Home Inspections Usually Don’t Cover Pools

When buying a new home, and getting a

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By Ryan Poppe - Last Updated: Wednesday, January 16th, 2019.

Interest Rates and Home Buying: What You Need to KnowThere are many factors that home buyers must take into consideration when they're purchasing a home, including interest rates. For a home buyer who would like to pay the least amount of money possible for their monthly mortgage payment, interest rate is very important. Understanding interest rates and how they can affect the monthly payment can help the home buyer to lock in a rate that will help them save money over time.

For informational purposes only. Always consult with a licensed mortgage professional before proceeding with any real estate transaction.

How Do Interest Rates Affect Monthly Mortgage Payments?

The higher the interest rate, the more money the homeowner will find themselves spending on their monthly mortgage payments. In

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By Ryan Poppe - Last Updated: Thursday, January 3rd, 2019.

Buying In a Housing Bubble? What to DoA housing bubble is a condition that occurs when home prices become so inflated that average home buyers are unable to afford homes in the area where they live. Bubbles usually occur at a time when the economy is doing well and more people have expendable income.

Housing bubbles can be exciting and stressful while they're going on, and terrible when they pop. Even though bubbles happen out in the open where anyone can observe them, knowing whether or not the market is experiencing a housing bubble can be challenging. Most people are unable to tell whether or not they're living through a housing bubble until it ends and home prices plummet.

For informational purposes only. Always consult with a licensed real estate professional before

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By Ryan Poppe - Last Updated: Wednesday, December 12th, 2018.

Pros and Cons of Jumbo Home LoansPeople who are looking at more expensive homes or those in a highly competitive market may wind up considering a loan that is a bit different from a standard mortgage: the jumbo loan. This loan has a few features that set it apart from other mortgage types. These are advantages in some ways and drawbacks in others. By understanding what is involved in this type of loan, buyers can decide whether it is the right vehicle for them or whether they need to adjust their buying strategy.

For informational purposes only. Always consult with a licensed mortgage professional before proceeding with any real estate transaction.

What Is a Jumbo Loan?

Also called non-conforming mortgages, jumbo loans are loans that are too large to conform to the rules

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By Ryan Poppe - Last Updated: Wednesday, November 28th, 2018.

What to Know About the Common Architectural Styles in Your AreaThe architecture of the home has a lot to do with its functionality, which is why homeowners should identify their priorities before they start visiting different home showings. A ranch may appeal to one buyer while not appealing to another. Learn the different architectural styles before going out and touring new homes to buy.

Victorian Architectural Style

It's easy to miss some of the more dated British references in the US, but Queen Victoria's name may come up again and again when buyers are out and about. This type of home was made popular during the Industrial Revolution when it became clear that the city's were going to need more housing to support all of its workers. This style of home has pitched roofs, dramatic gables, and

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By Ryan Poppe - Last Updated: Wednesday, September 5th, 2018.

Everything Home Buyers Need to Know About Debt to Income RatioFor homeowners trying to buy a home using a mortgage, lenders use several ways of looking at a potential borrower's credit worthiness other than just the borrower's credit score. One of the more important tools a lenders uses is the Debt to Income Ratio. A borrower's debt to income ratio determines how much they can borrow, what kind of home they can live in and other important factors. Understanding debt to income ratio and how it affects the home buying experience is an important part of the mortgage process.

For informational purposes only. Always consult with a licensed mortgage professional before proceeding with any real estate transaction.

Debt to Income Ratio Defined

Debt to income ratio is the amount of money owed (debt) versus

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By Ryan Poppe - Last Updated: Wednesday, August 8th, 2018.

Homeowners Associations: Are They Worth Joining?Home buyers moving into a condo or a new neighborhood may find that in addition to their new home, they also gain membership into a homeowners association (HOA). But what exactly is a homeowners association?

An HOA is a committee made up of homeowners who live in the neighborhood who decide things like guidelines, rules, events, and what dues are paid by the residents. Before moving to a neighborhood or condo that is part of an HOA, there are some things prospective buyers should know. Here are some of the major points regarding HOA's.

Every HOA Has Its Own Guidelines

Even if a home buyer is familiar with HOAs because they’ve been part of one before, no two are exactly the same. Every HOA will have some sort of regulations, even if they’re

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