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When you apply for a mortgage loan, you’ll receive a standardized form called a loan estimate within three working days. The purpose is to give you the opportunity to compare multiple offers from lenders and to negotiate terms where applicable. Once you choose a lender, this pre-approval allows you to shop for a home with […]

If you’re planning to buy a home in a community managed by a homeowners association (HOA), you’ll need to join, pay fees, and adhere to the association’s rules as a member. Your purchase contract should include a contingency that gives you the right to review the HOA’s financial records and its covenants, conditions, and restrictions […]

In the scenic foothills of the Blue Ridge Mountains, a short drive from both Roanoke and Lynchburg lies Smith Mountain Lake. This expansive man-made lake covers over 20,000 acres and stretches across more than 500 miles of shoreline. With its crystal-clear waters and stunning mountain views, Smith Mountain Lake is a haven for outdoor enthusiasts […]

Rising home prices and borrowing costs are making large homes less affordable, leading to a trend of smaller new homes. After years of increasing sizes, buyers might need to adjust to homes with less square footage and fewer rooms—but this shift could be beneficial. For the first time, new homes are cheaper than pre-owned homes […]

Owning a home in Smith Mountain Lake is all about enjoying luxurious tranquility, fantastic views, and having lots of fun. However, no place is exempt from security concerns. While violent crime in Smith Mountain Lake is virtually nonexistent, property crime can never be completely ruled out, even in the most affluent of areas. Protecting your […]

Marketing the square footage of a home can work against sellers. Buyers tend to want more space than they currently have, but if your home is on the small side, they may not even consider it. Your smaller home may actually be more comfortable and feel more spacious than one with a bigger but less […]

Refinancing your mortgage is worth it if you get a lower interest rate, a shorter term, or a smaller monthly payment. According to The Mortgage Reports, it’s usually beneficial if you can lower your mortgage interest rate by one percentage point. For a $400,000 loan, reducing the rate from 6.5% to 5.5% saves $257 per […]

When you purchase a home, you have the right to have the property professionally inspected. Any inspection can reveal issues, but what matters is whether a problem is fixable, what that might cost, and whether you or the seller will pay for it Here are a few items that should alarm you: A seller’s disclosure […]

With fall and winter approaching, it’s essential to have your home’s heating systems inspected and serviced, according to the Consumer Product Safety Commission. A trained technician can check chimneys, central heat, gas heaters, heat pumps, electric heaters, and more to ensure they function properly and don’t produce dangerous carbon monoxide (CO). They can also install […]

Homebuyers saw a turning point in interest rates as of June 2024. The Federal Reserve decided not to raise overnight borrowing rates, keeping them at 5.25%-5.50%. This is a sign that inflation is moving closer to the Fed’s 2% target. However, the Fed anticipates only one rate cut by year-end, which could impact the housing […]