{"version":"1.0","type":"rich","provider_name":"Acast","provider_url":"https://acast.com","height":250,"width":700,"html":"<iframe src=\"https://embed.acast.com/$/698b96b5337b2a3b2e215eef/698ba4b65fc77c9327a6b9bc?\" frameBorder=\"0\" width=\"700\" height=\"250\"></iframe>","title":"Demystifying Home Buying","thumbnail_width":200,"thumbnail_height":200,"thumbnail_url":"https://open-images.acast.com/shows/698b96b5337b2a3b2e215eef/1770757246780-ebcd25fb-b0c2-4b75-88bc-00e8e73772b9.jpeg?height=200","description":"<p>This episode of <em>Worth a Listen</em> features guest Amber Speer as she discusses the homebuying process and answers questions like:</p><ul><li>How do I prepare to buy a home?</li><li>How much should I save for the down payment?</li><li>When is the right time to buy a home?</li><li>What tips should I keep in mind while house searching?</li><li>What's the difference between prequalification and preapproval?</li><li>What's the timeframe and process from applying to closing on a home loan?</li><li>What other expenses should you plan for as a homeowner?</li></ul><p><br></p><p>Episode Notes:</p><ol><li><strong>Cash-to-close</strong> - The total amount of money needed to finalize a home purchase on closing day. Includes the down payment, property tax, homeowner's insurance, and any other fees not rolled into your loan.</li><li>The National Association of Relators reported in 2024 that 100% of surveyed homebuyers used the internet to search for a home with only 21% of buyers reaching out to a real estate agent to start the process. (From <em>Highlights From the Profile of Home Buyers and Sellers </em>by the <strong>National Association of Relators</strong>).</li><li><strong>Fannie Mae &amp; Freddie Mac</strong> are shareholder-owned companies operating under a congressional charter that buy mortgages from lenders, enabling lenders to engage in further lending.</li><li>On 12/10/2025 the Federal Reserve cut rates by 0.25%. Rates may have changed depending on when you are watching this, please refer to <a href=\"federalreserve.gov\" rel=\"noopener noreferrer\" target=\"_blank\">federalreserve.gov</a> for current rates.</li><li><strong>Bond market</strong> - A marketplace for trading and issuing debt securities. Mortgage interest rates are affected by Mortgage-backed Securities (MBS) and U.S. Treasury Bonds.</li><li>The average moving cost in 2025 was $880 - $2,570 for local moves, and $2,417 - $6,863 for long-distance moves.</li><li><strong>Escrow </strong>- A legal arrangement used to collect and pay property taxes and insurance payments on a home. Lenders used these accounts to ensure a property is insured and taxes are paid on time, reducing the risk to the financial institution. These costs are added onto your mortgage payment each month.</li><li><strong>HOA</strong> - Home Owners Association.</li></ol><p><br></p>","author_name":"Texell Credit Union"}