Blog
Jun
3,
2021
3,
2021
In many real estate markets, 2021 is shaping up to be one of the most competitive for buyers in recent memory. Low interest rates, rising construction costs, and a global pandemic have combined to send buyers with healthy budgets on the hunt for a home that meets their needs. But with limited inventory to select […]
Jun
1,
2021
1,
2021
There are a number of bad financial habits that can derail your dreams of buying a home, but don’t worry! Open Mortgage CEO and founder Scott Gordon is here to discuss financial habits you can keep an eye on, as you plan and hunt for your home. Some of the topics he covers: The effect […]
May
27,
2021
27,
2021
The economic impact of the pandemic has led to an increase in mortgage forbearances. While many of these homeowners will resume their mortgage payments and continue building equity, others may end up in foreclosure. As these homes are listed for sale, they may present an opportunity for buyers in a challenging market. Bank-owned properties are […]
May
25,
2021
25,
2021
As one of the most challenging academic years comes to a close, teachers across the country are looking forward to a well-deserved summer break. It’s a chance to relax and recover from the classroom, and for many, it will be an opportunity to shift their focus to personal priorities. While the summer months are typically […]
May
18,
2021
18,
2021
Any offer is an essential step toward selling your home, but sometimes it doesn’t put you as close to the finish line as you had hoped. Buyers looking for a bargain may lowball their effort. Even serious shoppers may prefer to start a negotiation rather than pursue a quick agreement. Regardless of the strategy, a […]
May
13,
2021
13,
2021
Buying a home is often considered the domain of couples transitioning into a new phase of their lives. They are in a committed relationship, their careers have stabilized, and starting a family may become a priority. It makes sense to find a home that could help them build wealth, offers space to grow, and is […]
May
11,
2021
11,
2021
With demand high and housing inventory low, multiple offers for properties on the market are an increasing reality throughout the country. Buyers in these markets are learning to expand their searches and the importance of making their first offer as strong as possible to beat out the competition. Meanwhile, it may seem like sellers have […]
May
6,
2021
6,
2021
In the wake of the COVID-19 pandemic, many homeowners took advantage of mortgage forbearance programs to suspend their monthly payments. Recent legislation, such as the CARES Act and the American Rescue Plan Act, provides guidelines for starting and ending forbearance on federally-backed mortgages, as well as other aid programs to help homeowners avoid defaulting on […]
May
4,
2021
4,
2021
A Home Equity Conversion Mortgage (HECM), or reverse mortgage as it is commonly known, relies on the accrual of substantial equity. Often, a HECM is a tool used by homeowners who have successfully paid their mortgage in full but prefer not to sell the home to access its cash value. In these cases, pursuing a […]
Apr
29,
2021
29,
2021
First-time homebuyers often focus their attention on neighborhoods and finishes, not educating themselves on the loan process. In this video, our CEO and founder, Scott Gordon, discusses finding the right mortgage while hunting for your first home. Some of the topics he covers: Speaking to lenders before you begin touring properties Documents to collect prior […]
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