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James Smith

NMLS ID 179615

480-563-9554 jamie@jksmortgage.com

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Blog Image: 6 Tips for Saving a Down Payment as a Renter

6 Tips for Saving a Down Payment as a Renter

Homeownership is the American Dream, and yet with house prices on the rise, it can sometimes feel unattainable if you’re still trying to make a rent payment each month. The average U.S. rent for a two-bedroom apartment as of June 2020 was $1,917, according to Rent.com, an increase of $39 over 2019. While that may not seem like a huge jump, it does make it harder to save for buying a house, especially when average home prices have risen 15% in roughly the same time, according to the National Association of Realtors. Even with increasing prices, it is possible to save for that firs...

January 27th, 2021 | First-time Homebuyers, Purchasing a Home, 6 Tips for Saving a Down Payment as a Renter

Blog Image: How to Get a Small Dollar Mortgage Loan

How to Get a Small Dollar Mortgage Loan

Buying a house is a straightforward process, right? You line up a lender, you find the right house and you get a mortgage to buy it. While this is the case in much of the country, there are plenty of regions where the home prices are too low for traditional home loans. How can a loan be “too small?” And where can buyers find alternate funding options? Small Dollar Mortgages Defined Most home loans under $100,000 are considered to be small dollar mortgages. In 2019, less than 10% of all U.S. single-family or condominium home purchases were for $100,000 or less. That’s a ...

October 7th, 2020 | First-time Homebuyers, Purchasing a Home, How to Get a Small Dollar Mortgage Loan

Blog Image: Is Now the Right Time to Buy Your First Home?

Is Now the Right Time to Buy Your First Home?

There are millions of potential U.S. homebuyers sitting on the sidelines wondering if it is smart to buy their first house in the midst of a global pandemic. Unemployment is the highest it's ever been, COVID-19 cases are still rising in many places, and home prices remain steep. And yet, great opportunities can often arise in the middle of economic turmoil. This may be a great time to become a first-time homebuyer. Timeframe One of the biggest concerns right now for many first-timers is whether the housing market will hold its value or if we’re in for a big crash as the coronav...

September 23rd, 2020 | Purchasing a Home, First-time Homebuyers, Is Now the Right Time to Buy Your First Home?

Blog Image: Should You Buy a Second Home as Your First Home?

Should You Buy a Second Home as Your First Home?

There is a new trend catching on among younger urban residents: renting in the city and buying a vacation home as their first house purchase. This unconventional approach to first-time homebuying is one way for these buyers to achieve homeownership and all its benefits when they are priced out of their own market.  Real estate prices in most major U.S. cities are rising so high that it is virtually impossible for young professionals to start their home-owning journey within city limits. The creative solution of buying a vacation home while renting a primary residence in the city allows...

February 12th, 2020 | Purchasing a Home, First-time Homebuyers, Should You Buy a Second Home as Your First Home?

Blog Image: 6 Reasons to Become a Homeowner

6 Reasons to Become a Homeowner

Home prices have been on the rise for a while now and news stories abound with first-time homeowners being priced out of the market. As breaking into the housing market seems daunting today, some people may ask themselves if reaching for the goal of homeownership is truly worth it. The answer is yes! And here are the top 6 reasons why: Pay Yourself, Not a Landlord One of the most frustrating parts of renting for many people is the feeling that they could be using their monthly rent costs to invest in their own place rather than giving it away to a landlord. When you buy a home, your mo...

October 16th, 2019 | First-time Homebuyers, Mortgage Advice, Purchasing a Home, 6 Reasons to Become a Homeowner

Blog Image: 4 Loan Programs With Zero-Down Payment

4 Loan Programs With Zero-Down Payment

Are there ways to get a mortgage loan without making a down payment? While the options are not as plentiful as they used to be, there are still at least four government-backed programs that allow borrowers to buy a home with no down payment. Over a decade ago, home prices were skyrocketing month-to-month, giving homebuyers “instant equity.” Mortgage lenders offered “zero-down” home loans to most of their customers, with confidence that those borrowers would soon own a significant stake in their homes. However, the housing market crashed, and home prices began plungin...

May 22nd, 2019 | Purchasing a Home, First-time Homebuyers, Government Loans, FHA Loans, VA Loans, USDA Loans, 4 Loan Programs With Zero-Down Payment

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