Review Mortgage Lenders

Dream House Mortgage


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How Much a Dream Home Costs | The Mortgage Reports

Though these price tags may seem out of reach for many, the survey actually showed that 64 percent of Americans believe they’ll be able to buy their dream home at some point in their lifetime.

A full 60 percent of Millennials said they plan to buy a home in the next five years – though it may not be their dream property just yet.

Verify your new rate (Jun 13th, 2018) What the dream home looks like

The average dream home comes with 7.5 rooms, nearly 2,200 square feet and is new construction. It’s also ‘comfortable,” “cozy” and “spacious,” according to the survey.

Location-wise, males and Baby Boomers would prefer the beach, while females and Generation Xers want the country. Millennials largely want a dream home in the suburbs.

As for features, a modern style, privacy, lots of land and “a view with peace and quiet,” all ranked high. A mere 15 percent say being close to good schools is an important dream home feature, and just 11 percent want their house close to nightlife or entertainment options.

Mortgage tips for first time home buyers

We always recommend a 15 or 30 year fixed mortgage. Also, if you do choose to get the 30-year mortgage we encourage you to pay it off early by paying one extra note a year. In 1929 only 2% of homes in America had a mortgage and by 1962 only 2% did not.

How much do you recommend putting down on a home?

We encourage you to put a minimum of 20% down to avoid having to pay PMI (Private Mortgage Insurance) payments. Of course the more you put down the lower your monthly house payment will be.

How do we know how much of a house note we can afford?

Don't let your American dream become a nightmare. Your house note should never be more than 25% of your TAKE HOME PAY. That amount includes taxes and insurance. Example: If you bring home $4,000 per month then your house note should not be more than $1,000 per month.

Is it a bad idea to rent?

No, not if you are paying off debt and saving up cash to put down on a home, this will set you up to WIN with real estate. Renters are also able to avoid repair and maintenance costs during this time. Another plus is that renters can simply move if their situation changes at anytime

What would you do? Would your buy your fancy dream house and struggle to pay your mortgage,or would you fix?

Would you go for the dream house that's new and beautiful and be house poor, or would you fix up the existing home that's average fix it and make it nice and be able to live comfortably.

Hun,i'll go for the fixing thingie,why???