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A new home in Philly Metro is one of the most exciting purchases you’ll ever make — which means that the more you understand the mortgage process, the more enjoyable your journey will be! A little bit of wisdom and planning goes a long way in helping you avoid costly mortgage mistakes, so take a look at a few of the big truths behind some of the most common mortgage myths:
Myth #1: Paying off a mortgage is more expensive than paying rent.
Renting a home can actually be more expensive than owning one. Homeownership may help you save significantly at tax time by deducting the mortgage interest, mortgage insurance, and property taxes you pay. Owning also builds equity over time that can be used to cover loans, and cash out refinances and lines of credit which can be used to improve your home and boost its value. Your mortgage payments may not be cheaper than rent in direct comparison, but over the long term, buying a home may have numerous financial benefits.
Myth #2: Once you pre-qualify, you’re all set.
Getting pre-approved for a mortgage may make you a more competitive buyer, but that doesn’t mean your mortgage-securing process is over. The prequalification process is simply to get an idea of how much you qualify to borrow based on your credit and debt-to-income ratio, but the bank will have a number of follow-up questions related to your financial and income situation. If you are self-employed or have a new job, you may have to supply additional information to combat any possible risks that may arise.
Myth #3: You should compare mortgages at the advertised rate.
Lenders advertise low interest rates but may make up for them with high fees. So comparing a 3.5% rate to a 3.6% rate isn’t as obvious a decision as it appears. Since most mortgages have fees, it’s important to compare APRs (annual percentage rates) from lenders’ truth-in-lending disclosure forms to see which mortgage really costs the least.
Myth #4: Your mortgage payment should be exactly 28% of your income.
It’s not realistic to simplify all the financial factors that go into this big of an investment into one standard percentage. What are your savings goals? Your other monthly spending? Any other debt you currently have? There are a number of mortgage calculator tools that banks and lenders provide in order to help you estimate what you can allot to your monthly payments.
Myth #5: You need to pay your mortgage off ASAP.
It seems sensible to prioritize paying off your mortgage. But compare the rate and it’s return on your money to other things you could be investing in, such as a retirement account with maybe a 6% or 8% earning over the long run. Credit card interest rates can even be 2 to 3 times higher than your mortgage interest rate, and aren’t tax deductible, so make sure you’re considering all your options when deciding where to spend your money.
Myth #6: Your credit score needs to be perfect.
Having a less-than-excellent credit score doesn’t mean you won’t be able to qualify for a mortgage! It’s true that the higher your score, the better your interest rate will be (anything above 670 is typically good), but each lender has its own minimum score, and considers additional factors when reviewing your financial situation as well. It’s a good idea to start gathering all the information you need and start working on raising your score now.
The more you know about the mortgage process, the better prepared you’ll be for what’s ahead — so you can enjoy the excitement that comes with buying a beautiful new Lennar home in Philly Metro!
Thanks to a thriving local community, a location near some of Florida’s most famous beaches, and great opportunities to grow a budding career, Tampa was recently ranked as the best city in the country for first-time homebuyers.
A Thriving Community
When you’re purchasing a new home in Tampa, you’re becoming more rooted in the community around it. It’s important to be plugged in and stay up-to-date on the events in the city you’re a part of, and in Tampa, there’s plenty to know about! From upscale shopping and dining in locations like Hyde Park Village to local farmers markets scattered all across the city, there’s never a shortage of ways to fill your day in Tampa Bay.
If you’re a sports fan, you’re in luck! There are plenty of teams to follow in Tampa Bay. Soccer fans can follow the Tampa Bay Rowdies, hockey fans love to show their support for the Lightning, and football fans have a choice of the NFL’s Tampa Bay Buccaneers or the new XFL Tampa Bay Vipers.[
Sunshine State of Mind
When you purchase a home in Tampa Bay, you’re settling into a warm climate that’s less than an hour away from some of Florida’s most picturesque beaches. Plus, many of the top beaches in the United States are a short drive from Tampa Bay. You’ll be able to enjoy the soft, white sands of Clearwater or St. Petersburg beaches at a moment’s notice.
Plant Roots Where You’ll Grow
In addition to being a great place to live in, Tampa is also a great place to work! Many companies call Tampa their home, which means no matter what industry you work in, you’re sure to find a company that you’re happy to be a part of.
It’s clear to see why becoming a homeowner in Tampa Bay is a great idea, but what about the how? Check out Lennar’s Make Your Move workshop series to have all of your homebuying questions answered by a panel of experts. While you’re there, you’ll develop an understanding of what it takes to become a homeowner.
Don’t forget to follow Make Your Move on Instagram and Facebook for tips, real estate news, and more!
No matter where you travel, whether in the U.S. or abroad, or the venue you find yourself – be it an airport, hotel, festival, restaurant or sporting event – the simple mention of Austin is enough to begin a conversation touching on everything from the tech scene and live music to Mexican cuisine and Matthew McConaughey. It’s enough to leave other cities green with envy trying to understand how a city can generate so much buzz.
The answer, it seems, is a blend of favorable news coverage and word-of-mouth praise from native Austinites, daily visitors and new transplants from the West Coast to the East Coast and all points in between. And with approximately 105 people moving to Austin each day, according to the latest statistics, that’s a lot of ambassadors singing the praises of the city that prides itself on keeping things weird.
The accolades heaped upon Austin have become so frequent that Forbes magazine devoted a column to figuring out what exactly it is about Austin that makes it the best city in America. You can view that article here.
Here are some of the most recent examples of the Capital City’s top billing:
Austin’s positive juju has captured the attention of some of the world’s most prestigious companies, who have given the city the moniker of Silicon Hills. Consider that Apple is creating a $1 billion campus for 15,000 employees, Facebook has turned Austin into its third-largest hub outside of Silicon Valley, and Google and Oracle have both opened new offices downtown. That’s not even including Dell, one of the biggest employers in town. All told, over 6,500 startups and tech companies are based here, with more arriving by the day. Thus the extreme demand for new homes for sale in Austin.
Also helping the cause are major events such as ACL Fest, South by Southwest, the Formula 1 U.S. Grand Prix and tons of seasonal festivals. There’s also a new Major League Soccer team, Austin FC, on the way in 2021. Add in more restaurants than you could visit in a lifetime, music venues in every part of town, enviable weather throughout the year and a laid-back vibe that is contagious, and you have the recipe for a city that can’t be matched.
When Austin’s newest families arrive, or current Austinites are ready to grow their space or downsize, Lennar has been at the ready, offering new designs in Central Texas’ most desirable communities. They are drawn to Lennar’s appealing locations with great amenities and quality schools, but also to features such as the Everything’s Included® initiative for connectivity, efficiency, luxury and simplicity, Next Gen- The Home Within a Home multigenerational layouts and Legacy Series floor plans exclusively for 55+ audiences.
Find your dream home today at Lennar.com!
St. Patrick’s Day and the spring season are just about here, which means now is the perfect time to explore the possibilities for your dream home in Colorado. Best of all, Lennar offers beautiful quick move-in homes in all the areas where you want to live, from Castle Rock all the way up to Fort Collins and throughout the Denver Metro Area.
You’ll also find communities and plans for families at every stage of life. Whether you’re buying your first home, an active adult looking for a sophisticated 55+ community or somewhere in between, Lennar has something for all lifestyles.
Once you’ve found your home, take inspiration from St. Patrick’s Day and the spring season: St. Patrick’s Day is all about green – and spring brings warmer weather, longer days and the regrowth of nature. So, why not take inspiration from the festivities and help a space in your home pop a little more with some green décor.
Consider wall treatments, which can vary from simply painting the walls green, wallpaper or take it up a level and curate a living wall of succulents. The options to give your home a touch of drama are endless.
Embrace nature in a more literal sense and bring in fresh flowers and plants into your home. From centerpieces for your dinner table to just adding them to spaces like the bathroom or home office, this is a great way to freshen up your home. Additionally, plants may help freshen air quality, so it’s a win-win!
And of course, you can never go wrong with green accessories. Whether it’s something as simple as a rug, decorative pillows or an ottoman for your bedroom, there are so many great products on the market for you to consider.
Don’t let your luck run out. Start your new home search today at www.Lennar.com/Colorado and find a home that’s going to ensure your luck past St. Patrick’s Day.
Lennar’s award-winning Heritage El Dorado Hills is a gated masterplan community designed with the leisure-rich lifestyles of today’s active adults in mind. Complete with top-notch onsite amenities at The Resort recreation center, along with a new amenity center and luxury clubhouse, The Retreat, that will open this summer, Lennar has three collections of home designs now selling that offer a one-of-a-kind lifestyle.
“We’ve focused on the energy-inspired amenities, design and features that today’s 55+ homebuyers are looking for and have included them in the homes and community here at Heritage El Dorado Hills,” said Michelle Velky, Vice President of Sales and Marketing for Lennar Sacramento. “With some quick move-in homes available, it’s a great time for anyone in the market to find their spot here and be settled in just before the frenzied spring season.”
Lennar has three communities of new homes at Heritage EL Dorado Hills where new homes are available and now selling:
– Reflections features several home designs, with three distinctive floorplans styles available among their quick move-in homes that range from 1,227 to 1,650 feet. Prices start from the low $400s.
– Mosaic also features a few styles of homes that are quick move-in, including The Ruby, Diamond and Sapphire plans. These floorplans range in size from approximately 1,230 to 1,784 square feet with prices starting from the low to mid $400s.
– Legends is another community with quick move-in homes available now that showcase The Carmel plan, which provides 1,813 square feet and is priced starting from the low $500s.
Every new home Lennar builds at Heritage El Dorado Hills showcases the homebuilder’s signature Everything’s Included® program, which provides a high level of standard features at no additional cost. Additionally, at all Lennar Sacramento Heritage communities, the home showcase a series of Thoughtful Design® details implemented to accommodate the changing lifestyle needs of active adults.
The Retreat is Heritage El Dorado Hills recreation center that’s already completed and open and provides 5,000 square feet of recreational facilities on a five-acre site. It includes a fitness center, aerobics studio, enclosed pool for year-round swimming, lighted tennis and pickleball courts, locker rooms, outdoor spa, pool deck with lounge chairs, barbecue area, The Green community event lawn and outdoor courtyard.
The Resort, which will open later this summer, is a high-end luxury clubhouse. Amenities include a large gathering and event room, a private theater, game room, card room, lounge, outdoor pool and spa and so much more.
Model homes for the collections of single-story homes for sale at Heritage El Dorado Hills are open seven days a week. To learn more, visit www.lennar.com/sacramento or call 918-304 -9711 to speak with an Internet Sales Consultant and schedule your tour today.
About Lennar
Lennar Corporation, founded in 1954, is one of the nation’s leading builders of quality homes for all generations. Lennar builds affordable, move-up and active adult homes primarily under the Lennar brand name. Lennar’s Financial Services segment provides mortgage financing, title insurance and closing services for both buyers of Lennar’s homes and others. Lennar’s Rialto segment is a vertically integrated asset management platform focused on investing throughout the commercial real estate capital structure. Lennar’s Multifamily segment is a nationwide developer of high-quality multifamily rental properties. Previous press releases and further information about Lennar may be obtained at the “Investor Relations” section of Lennar’s website, www.lennar.com
Before diving into those dreaded April 15 tax returns, now’s the time to ramp up for Spring cleaning. Just as Lennar prepares to open new communities with new homes for sale in Dallas, TX, you’ll want to start opening your home as a seasonally fresh showcase.
Three-quarters of Americans say they participate in the annual rite of Spring, while 6% say they don’t, an American Cleaning Institute survey says. Among the first chores, experts say, is washing windows. North Texas homeowners enjoy a month’s worth of more sunshine-filled days than the national average, so let the spring rays in.
Spruce up window treatments and prepare flowerboxes. Get the mower tuned up. Clear out the gutters. Wash the outdoor furniture. Scrub the grill. Then turn your attention inside.
“I am trying to clean out a closet and get rid of clutter, Marie Kondo-style,” a friend in Texas writes, and the only way she can do that is to get her husband to take a very long walk.
Fortunately, most Lennar communities are chockful of amenities, such as resort-style pools, trails, playgrounds and other features your packrat will enjoy while you do the heavy-lifting. Ask about amenities in six new Lennar communities coming soon, including new homes for sale in Princeton, TX, at Bridgewater Watermill and at Highbridge, with new homes for sale in Crandall, TX, as well as Verandah new homes for sale in Royse City, TX.
“Yes, he needs both those deflated kick balls,” our friend says in a Facebook post. “Yes, he needs every old weight. Yes, he needs both dartboards we haven’t used in years.”
Time to call in a pro, and one of the world’s best-known is Marie Kondo, the organizational phenom whose bestselling book, The Life Changing Magic of Tidying Up, is a slim 224-page roadmap to one of homeowners’ most nettlesome problems: clutter.
“While many people associate her method with tidying, it’s really about discarding items that lack value,” Good Housekeeping writes of the KonMarie Method.
In a nutshell, if your kick balls and dartboards are proving to be old weights that no longer bring you joy, out they go. KonMarie focuses tackling categories of items, rather than going room by room. That is, start with clothes, then move to books, then papers, then miscellaneous items before going after things with sentimental value.
One of the best ways to start fresh is with the purchase of a new Lennar home. Everything’s Included® in Lennar’s new homes—except for one of Marie Kondo’s 200-plus experts. Imagine a pre-cluttered island kitchen, walk-in closet and other such standard features.
To learn more about how Lennar can put a spring into your step, contact Lennar’s Dallas-Fort Worth Internet New Home team at (866) 314-4477 and visit our website.
Meet Eunice Potts, who found her dream home with Lennar in Saint Charles County, Maryland!
Eunice grew up in Louisville, Kentucky and has lived within the DC-Maryland-Virginia area for about 25 years. After the tragic loss of her son in 2015, Eunice decided to make a move and change her life with the purchase of a new home.
“For me it was about moving forward- and not moving on, but moving forward. Knowing that I still had purpose and there were still things to be done, even with that loss. And so I started on a journey of looking for a home….Lennar definitely was the path that I didn’t realize that was already pretty laid out for me.”
Learn more about her unique Lennar story in the clip below:
You drive up to a quiet, tree-lined street in one of the area’s most desirable neighborhoods. Waiting there is a gorgeous, modern home that looks just like you’ve always imagined. Whether you’re coming back from a day of work or a week of vacation, you know that the greatest comfort in the world is all yours just inside…
Building a beautiful new living space with Lennar is an experience unlike any other. From beginning to end, we make sure that you feel confident in where you’re heading (and actually enjoy the ride while you’re at it). Before we hand you the keys to your all-time dream space, here’s what you can expect when you build with our caring, knowledgeable, and fun Lennar team:
1.Calculate Affordability:
The “big purchase” may seem intimidating, especially when you aren’t sure how much home you could afford after costs like your down payment and monthly debt. Need help? We’re here! Use our Home Affordability Calculator to estimate the mortgage that works best for you, and check out other useful tips.
2. Get Pre-Approved:
During this step, your lender will verify your financial status, credit, and down payment to approve you for a loan (up to a certain amount). Easy as 1-2-3.
3. Shop the Market:
The fun begins! This is when you determine your must-haves in a new Lennar home — make sure to tour model homes, research neighborhoods, compare homes, and get an idea for the kinds of features and amenities you want in and around your home.
4. Sign Purchase Agreement:
A legally-binding contract, the Purchase Agreement is made up of your intent to purchase and the terms and conditions you agree to. It’s exciting, isn’t it? Take a look at the rest of the components of our Purchase Agreement, so you’ll be nothing but confident when it’s your turn to sign.
5. Purchase Home Insurance:
There’s nothing more exciting than preparing for closing day — and one of the most important things you can do in the meantime is to purchase home insurance. Insuring your new home guarantees that your investment is adequately protected and you’re on top of your mortgage requirements.
6. Schedule Final Walkthrough:
You’re almost home! Once your living space is completed, final inspections and checks will be conducted, and our team will take you through your initial walkthrough, where you’ll assess your home and get a feel for everything. Your final walkthrough comes next… can you taste the champagne yet?
7. Close On Your Home:
The big day’s almost here… make sure to bring your photo ID and certified funds to the closing. After you review and sign the required documents, you’ll officially be a Lennar homeowner. Welcome!
8. Move In: Need we say more? However you choose to move in to your new home, this day is yours to enjoy. Step inside and take it all in — your most extraordinary days are just ahead. And they start now.
With Lennar by your side, the road to move-in day will be smooth sailing. We can’t wait to get started! For more information about our remarkable new homes in Pennsylvania and Deleware, contact us here.
If you are one of the thousands of people that are in search of a new home that offers a specific list of benefits that a single-family home offers, but also without the extra maintenance they require, then a townhome might be the perfect option for you! Attached townhomes encompass all of the details that make it a home – but with unique features such as added security, lower cost and less maintenance. Here are some reasons why townhomes are a great place for families to live.
Low Maintenance
One of the most ideal aspects of owning a townhome is that you don’t need to worry about yardwork! Enjoy summer days relaxing in the sun instead of pulling weeds, and spend winter days sitting by the fire instead of shoveling snow. Townhome communities are typically managed by an HOA that takes care of yard and street maintenance, so you can come home to a beautiful exterior every day.
Ownership
Some may think that townhomes are like apartments or condos, a place where you can rent or buy space, but not actual land. Townhomes are purchased just like single-family homes, meaning your home and the land it sits on are yours! Plus, unlike an apartment, there’s no need to sacrifice having a space for your car, as they usually include an attached garage. There’s also no need to worry about communal entries or people living above or below you. You’ll have the space all to yourself.
Practicality
Townhomes are often more economical than single-family homes. Since neighbors are separated by adjoining walls, the building process is simplified and homeowners often benefit from lower utility and maintenance bills. Cheaper, however, does not mean smaller. Depending on your townhome community, units can accommodate multiple bedrooms and still provide open-concept living spaces that feel incredibly spacious.
Exclusive Benefits
Those in townhome communities also enjoy exclusive amenities such as swimming pools and playgrounds that are always maintained and ready for entertaining! These areas are designated solely for those within the community, so you don’t have to worry about large crowds or long drives. Within townhome communities, it is possible for homeowners to enjoy private amenities where they would otherwise not be able to afford or maintain on their own.
Urban Life
Townhomes are found in urban and suburban areas which means you don’t need to travel far to find a grocery store or visit a pharmacist. Similarly, entertainment options and city events are often right around the corner. Find anything you need all within a short drive from home!
