Month: April 2025

“Do I Really Need 20% Down?” 

Posted on by Michelle Tondu

“Do I Really Need 20% Down?“

What You Actually Need to Know About Down Payments 

One of the most common myths in homebuying is that you need to save up a 20% down payment. If you’ve heard that, you’re not alone—but here’s the truth: most buyers today put down far less. 

In fact, according to the National Association of Realtors: 

  • The average down payment for first-time buyers is just 6%. 
  • Repeat buyers put down about 17% on average. 
  • Many loan programs allow as little as 3% down, and some offer zero-down options for qualifying buyers (like VA or USDA loans). 

So why do people keep saying you need 20%? 

The answer is private mortgage insurance, or PMI. This is a fee added to your monthly mortgage if you put less than 20% down. It’s designed to protect the lender—not you—in case you stop making payments. But while PMI adds cost, it also makes homeownership more accessible sooner. 

Putting 20% down can reduce your monthly payment, but waiting years to save that amount could cost you more in the long run. 

The Real Risk of Waiting to Save 20% 

Trying to save 20% in a rising market can backfire. Here’s why: 

  • Home prices keep climbing. According to CoreLogic, home values have continued rising year-over-year. Waiting may mean paying more for the same house later. 
  • Interest rates fluctuate. Even a small rate increase can significantly raise your monthly payment—possibly erasing any benefit you gained by putting more down.  
  • You’re missing out on equity. Every month you wait is a month you’re paying rent instead of building wealth. The earlier you buy, the sooner you start growing equity. 

But What If You’re Not Ready? 

Even if you’re not ready to buy this month—or this year—that’s okay. That’s exactly why your Employee Homeownership Program exists: to help you prepare and make informed decisions that align with your goals. 

When you contact us, here’s how we help: 

  • We’ll help you understand what you can afford today based on your current income and credit—and show you how small changes to your credit score, debt-to-income ratio, or savings could expand your options and improve your loan terms. 
  • We’ll help you explore low-down-payment loan options and eligibility for down payment assistance. 
  • You’ll get real numbers, including estimates for monthly payments, closing costs, and whether PMI might apply. 
  • We’ll connect you with trusted mortgage lenders and agents who are trained to help employees maximize their savings and homeownership benefits. 

Bottom Line 

You don’t need to wait until you’ve saved 20% to buy a home. In fact, waiting could cost you more in the long run. What you need is a plan—and we’re here to help you build one that works for your timeline, goals, and budget. 

Schedule your free consultation today and discover how your employee benefit can help you save, plan, and buy smarter. 

SupportSquad@AdvantageHomePlus.com | (800)511-2197 

The information contained and the opinions expressed in this article are not intended to be construed as investment advice. Advantage Home Plus does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision.  

Refinancing Is on the Rise—Here’s What You Need to Know 

Posted on by Michelle Tondu

Refinancing Is on the Rise—Here’s What You Need to Know 

Refinancing activity is projected to rise by nearly 48% this year, and it’s no surprise—many employees are realizing that their mortgage can be a powerful tool for improving their overall financial wellness strategy. 

But is refinancing right for you? 

Whether you’re thinking about lowering your monthly payment, paying off debt, removing mortgage insurance, or accessing your home’s equity for renovations, a refinance could help. And through your Employee Homeownership Program, you can get expert guidance and exclusive savings on closing costs to make the process easier and more affordable. 

Why People Are Refinancing Right Now: 

Here are the most common reasons employees are exploring a refinance: 

  • Debt Consolidation: Replace high-interest credit card or loan payments with one manageable mortgage payment. 
  • Home Improvements: Use a cash-out refinance to upgrade your home without dipping into savings. 
  • Life Changes: Divorce, inheritance, or changes to your household can require updating your loan and title. 
  • Shorten Your Loan Term: Pay your home off faster and save thousands in interest. 
  • Remove Mortgage Insurance: Once you’ve built 20% equity, you may qualify to eliminate PMI and lower your payment. 
  • Stabilize Your Rate: If you have an ARM, switching to a fixed-rate loan gives you predictable monthly payments. 

What Lenders Look at During a Refinance: 

Just like when you first applied for your mortgage, lenders will review several factors before approving a refinance: 

  • Credit Score: Most lenders want to see a score of 620 or higher, though a higher score can help you qualify for better rates and terms. 
  • Home Equity: Ideally, you’ll have at least 20% equity in your home—this can impact whether you’ll need to pay mortgage insurance. 
  • Debt-to-Income Ratio (DTI): Lenders will compare your monthly debt payments to your gross income. A DTI below 43% is often required. 
  • Employment & Income Stability: Just like a home purchase, lenders want to see steady, reliable income. 
  • Home Appraisal: The current value of your home will determine how much equity you have and whether you’re eligible for certain refinance programs. 

Bottom Line 

Refinancing is a personal decision, and everyone’s situation is different. That’s why your Employee Homeownership Program offers a free refinance analysis—we’ll walk you through your options and help you understand if refinancing makes sense for you. You’ll also gain access to trusted mortgage professionals, exclusive savings, and expert advice to make the process easier. 

Schedule your free refinance consultation today and take the first step toward a stronger financial future. 

SupportSquad@AdvantageHomePlus.com | (800)511-2197 

The information contained and the opinions expressed in this article are not intended to be construed as investment advice. Advantage Home Plus does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision.   

What Makes Mortgage Rates Go Up or Down?  

Posted on by Michelle Tondu

What Makes Mortgage Rates Go Up or Down? Here’s What You Should Know 

If you’ve been keeping an eye on mortgage interest rates lately, you may have noticed they move up and down more than you expected. And if you’re planning to buy a home, refinance, or just thinking ahead—understanding what causes those changes can help you feel more confident and in control of your financial decisions. 

Here’s a quick overview of what actually drives mortgage rate changes: 

  1. The Federal Reserve (a.k.a. “The Fed”) 
    While the Fed doesn’t directly set mortgage rates, its policies play a major role. When inflation is high, the Fed often raises the federal funds rate to slow spending—this can lead to higher mortgage rates. If inflation cools, the Fed may lower rates, which can ease mortgage costs. 
  1. Inflation 
    Mortgage lenders pay close attention to inflation. Why? Because inflation reduces the future value of the money they’re lending. If inflation is rising, lenders typically increase interest rates to protect their investments. 
  1. The Bond Market 
    Mortgage rates tend to follow the yield on 10-year U.S. Treasury bonds. When bond yields rise, mortgage rates usually follow. When yields drop, mortgage rates often decrease too. 
  1. The Overall Economy 
    Economic indicators like employment numbers, GDP growth, and consumer spending all impact investor confidence—and that affects mortgage rates. A strong economy often leads to higher rates, while a weaker economy can push rates lower. 
  1. Global Events 
    Yes, even things happening halfway around the world—such as geopolitical conflict or financial instability—can impact U.S. mortgage rates. Global uncertainty often causes investors to shift to safer investments like U.S. bonds, which can lower mortgage rates. 

Why It Matters to You 

Mortgage interest rates play a big role in your monthly payment and the total cost of your home over time. But here’s the good news: you don’t have to try to “time the market.” You just need to know your options—and that’s where your Employee Homeownership Program comes in. 

  • Understand current rate trends and what they mean for you 
  • Explore loan types and payment strategies that fit your budget 
  • Get pre-approved and financially ready—whether you’re planning to buy this year or next 

Ready to Learn More? 

Schedule your free Financial Fitness Consultation today to explore your mortgage options, learn how your homeownership benefits can save you money, and get expert guidance—at no cost to you. 

Your future home (and financial peace of mind) starts with a conversation. Let’s make it happen. 

SupportSquad@AdvantageHomePlus.com | (800)511-2197 

The information contained and the opinions expressed in this article are not intended to be construed as investment advice. Advantage Home Plus does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision.   

Spring Home Selling Tips: 

Posted on by Michelle Tondu

Spring Home Selling Tips: How to Maximize Your Sale This Season 

Spring is one of the most active and profitable times of year to sell a home. With longer days, better weather, and motivated buyers, it’s the ideal season to list your property — but success still depends on preparation and strategy. 

Start with curb appeal. 
First impressions matter. Trim the lawn, refresh your landscaping, and consider a pop of color with seasonal flowers or a new welcome mat. Power-washing your siding, cleaning the windows, and painting the front door can also make a big impact. 

Stage for the season. 
Declutter and deep clean each room to make your home feel open and inviting. Let in as much natural light as possible, and add fresh, spring-inspired accents like light pillows, neutral throws, or a bowl of lemons on the kitchen counter. 

Price it right from the beginning. 
Overpricing your home can turn buyers away before they even step inside. A trusted real estate professional can help you understand your local market and develop a pricing strategy that attracts attention and serious offers. 

Highlight what buyers care about. 
Today’s buyers are looking for move-in-ready homes, energy-efficient features, home office space, and outdoor living areas. If you have those, be sure to highlight them in your photos and listing. 

Don’t go it alone — use your benefit. 
Through your employee homeownership program, you have access to expert guidance, a free certified market analysis, a fix-it list to avoid wasting money on unnecessary repairs, staging suggestions, vetted local real estate agents, plus reduced real estate commission to help you save and walk away with more money. You can also schedule a one-on-one consultation to talk through your selling goals, timeline, and questions — all at no cost to you. 

Selling a home doesn’t have to be overwhelming. With the right support and a smart strategy, you can take advantage of the spring market and feel confident every step of the way. 

Reach out today to learn how your employee benefit can help you get the most for your home. 

SupportSquad@AdvantageHomePlus.com | (800)511-2197 

The information contained and the opinions expressed in this article are not intended to be construed as investment advice. Advantage Home Plus does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision.