Month: May 2025

How Your Credit Score Impacts Your Mortgage Options 

Posted on by Michelle Tondu

How Your Credit Score Impacts Your Mortgage Options 

Curious how your credit is affecting your mortgage options? Book a free credit review with one of your Employee Homeownership Advisors and start building your path to better rates. 

Your credit score is one of the most important numbers when it comes to buying a home. It directly impacts the interest rate you’re offered, the type of loan programs you qualify for, and your monthly payment. Even a small change in your credit score can make a big difference in your financial future. 
For example, a buyer with a credit score of 620 may be approved but could end up paying significantly more over the life of the loan compared to someone with a score of 740 or higher. A stronger score can translate into lower rates, better terms, and thousands in savings. 

Fortunately, your Employee Homeownership Program includes access to free credit coaching. Whether your credit needs a little work or a complete rebuild, they can help you identify what needs to be done and create a plan to accomplish your goal:  

  • Understand how your credit score is calculated 
  • Dispute errors on your credit report 
  • Build strategies for improvement over time 
  • Identify the best timing to apply for a mortgage 


They can look at your credit, help you understand it and improve it. Reach out to schedule a time to talk and start preparing your credit for the home you want. 

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 is a Refinance Analysis — and Why It Matters 

Posted on by Michelle Tondu

What is a Refinance Analysis — and Why It Matters 

With interest rates, home values, and personal finances constantly changing, it’s smart to regularly evaluate whether your current mortgage still aligns with your goals. That’s where a refinance analysis comes in — it’s a financial wellness tool that can help homeowners understand their options and avoid leaving money on the table. 

A refinance analysis is a review of your current mortgage loan, compared against current market conditions and your personal financial objectives. The goal is to determine whether refinancing your home loan could offer meaningful benefits — like lowering your monthly payment, shortening your loan term, reducing interest over the life of the loan, or tapping into your home’s equity for major expenses like renovations, education, or debt consolidation. 

But just as important as identifying opportunities is understanding when not to refinance. For example, if the costs outweigh the potential savings, or if you plan to move soon, staying in your current loan might be the better option. A refinance analysis helps you see the full picture — including potential savings, trade-offs, and breakeven timelines — so you can make informed decisions based on facts, not guesswork. 

For homeowners, especially those navigating changing life stages or financial goals, this kind of review can be a valuable part of long-term planning. 

Through your Employee Homeownership Program, you have access to a refinance analysis at no charge to you. It’s a smart way to evaluate your mortgage options and get clarity on whether refinancing could improve your financial situation. 

Ready to explore your options? 

Reach out to your Employee Homeownership Program to schedule your free refinance analysis and take the guesswork out of one of your biggest financial decisions. 

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.   

Should You Sell Before Buying? What to Know 

Posted on by Michelle Tondu

Should You Sell Before Buying? What to Know 

One of the biggest decisions homeowners face when planning their next move is whether to sell their current home before buying a new one. While there’s no one-size-fits-all answer, understanding the pros and cons of each approach can help you make a decision that fits your financial goals, lifestyle, and comfort level. 

Selling First: Access Equity, Reduce Risk 

Selling your current home before buying gives you clarity — you’ll know exactly how much equity you’re working with and can use the proceeds as a down payment on your next property. This approach also eliminates the risk of carrying two mortgages at the same time, which can strain your finances. 

But the downside? You may need temporary housing while you search for your new home. This can mean moving twice, dealing with storage, and navigating the stress of short-term leases or living with family. 

Buying First: More Flexibility, More Complexity 

Buying your next home before selling your current one allows for a smoother, more controlled move. You can shop without pressure and move on your own timeline. However, it can be harder to qualify for a new mortgage while still paying the existing one — especially if your debt-to-income ratio is tight. You’ll also need to cover two sets of housing costs until your current home sells, which isn’t always feasible without financial planning or assistance. 

What Should You Do? 

The right move depends on your financial situation, the housing market in your area, and your comfort with risk. In competitive markets, buying first may be necessary to avoid losing out on your ideal home. In slower markets, selling first might make more sense. 

Your Employee Homeownership Program Can Help 

Through your Employee Homeownership Program, you have access to resources that can make this decision easier — including one-on-one coaching, affordability planning, and even special loan options that may allow you to buy your next home before selling your current one. 

They can help you weigh your options and identify the strategy that minimizes stress and maximizes financial confidence. 

Find the Best Path Forward 

Schedule your free planning consultation today to explore your options with a Homeownership Advisor. They’ll help you build a game plan that fits your goals, timeline, and financial situation — and support you every step of the way. 

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.   

How Much House Can You Afford? 

Posted on by Michelle Tondu

How Much House Can You Afford? 

Before you start browsing listings or touring open houses, it’s essential to have a clear understanding of how much home you can truly afford. Falling in love with a property that’s outside your financial comfort zone can lead to disappointment — or worse, long-term financial strain.  

That’s why getting your numbers right from the start is one of the smartest moves you can make. Your monthly mortgage payment is only one part of the puzzle. A truly realistic housing budget should include property taxes, homeowners’ insurance, HOA fees (if applicable), maintenance, repairs, and utility costs. In addition to this, your existing debt — including credit cards, car loans, and student loans — needs to be factored in. 

A widely accepted guideline is the 29/41 debt to income ratio rule: 

  • Spend no more than 29% of your gross monthly income on your total mortgage payment (principle, interest, taxes, insurance, and any HOA fees.) 
  • Keep your total mortgage payment, plus the payments for your existing debts under 41% of your gross income.  

Following this rule can help you stay financially stable, reduce the risk of becoming “house poor,” and leave room in your budget for savings, emergencies, and enjoyment. 

As part of your Employee Homeownership Program, you can schedule a free consultation with a Homeownership Advisor. We’ll help you review your current income and debt, run affordability scenarios, explore mortgage options, and create a plan that aligns with your goals. Whether you’re ready to buy now or just getting started, our goal is to help you make confident, informed decisions — and avoid costly mistakes. 

How much to budget for maintenance costs:  

A good rule of thumb is to budget about 1% of your home’s value each year for maintenance. So, if you’re buying a $350,000 home, you’ll want to set aside roughly $3,500 annually for upkeep. However, this number can vary depending on the age and condition of the property. Older homes or homes that haven’t been well maintained may require more frequent and costly repairs, while newer homes with modern systems may cost less to maintain early on. 

That’s why getting a home inspection before you buy is so important.  

A professional inspection can uncover potential issues—like roofing problems, foundation cracks, or outdated electrical systems—before they become expensive surprises. It helps you plan realistically, negotiate necessary repairs, and make a confident, informed decision. Your Employee Homeownership Program offers guidance on what to expect during a home inspection and how to use that information to make smart buying choices. 

Ready to find out what you can afford?  

Schedule your free consultation today and take the first step toward confident homeownership. 

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.