The past several years of housing boom, spurred on by the lowest mortgage rates in history and record-setting home demand, have likely seen their end. As U.S. inflation reached uncomfortable levels of inflation by early-2022, potential buyers started pull
Jan 03, 2023 | Purchasing a Home
With today’s rising interest rates and high home prices, buying a home takes some planning and forethought. Mistakes can be costly, like getting a mortgage higher than you can afford or getting stuck in a neighborhood or house you actually don’t like. Her
Dec 27, 2022 | Purchasing a Home
With Christmas fast-approaching, all of us at GULF STATES FINANCIAL would like to wish you a Merry Christmas! We hope that this week you'll be surrounded by family, friends and loved ones while enjoying time together and making great memories. It’s been
Dec 22, 2022 |
Since buying a home is one of the biggest financial investments most people ever make, if you're are not careful, you can get in over your head. This can result in a status of being “house poor,” or spending way more on housing costs than you can afford.
Dec 20, 2022 | Refinancing a Home
According to a recent report from Redfin, as of October 2022, in order to afford a “typical home” with the median monthly mortgage payment of $2,682, a buyer would need to earn at least $107,281 to be able to afford the loan. While prices may have slowed
Dec 13, 2022 | Purchasing a Home
Knowing your purchasing power when buying a home is always important and to that end loan amount limits for 2023 are now active for use. Here is what that means for the average one unit property in 133 of 134 of counties we are licensed to lend in: Prim
Nov 30, 2022 |