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Time to Buy

Find out why waiting to buy a home might cost you more in the long run - Star Mortgage

Buying a Home Sooner Rather Than Later Has Its Benefits

Many people put off buying their first home for a variety of reasons, such as uncertainty about the market, the belief that it's too early to buy, or thinking that waiting will make it more affordable later.

While waiting makes sense in a few situations, buying sooner rather than later is usually the best move.

Here are a few reasons why you shouldn't put off buying your first home any longer:

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Credit history is a recorded file of past and current credit that is utilized to compile a credit score. Read about credit, how it works, how to improve your score and more by clicking learn more below.

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Closing Costs

A closing cost is a payment required to finalize a home loan and is separate from a down-payment. Read about closing cost, their purpose, how you can pay them and more by clicking learn more below.

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An appraisal is an estimate of a property's fair market value and is required by a lender to ensure the loan amount is not more than the property value. Read about appraisals, how they work, ownership and more by clicking learn more below.

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Private Mortgage Insurance (PMI)

Private Mortgage Insurance or PMI is insurance that protects a lender from increased risk from borrowers putting less than 20% down on a house. Read about PMI, how it works, cost and more by clicking learn more below.

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Refinancing your mortgage is a common practice used to lower monthly payments, interest rates, lower your DTI and more. Read about refinancing, how it works, cost and more by clicking learn more below.

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Glossary of Terms

See a full list of mortgage terms by clicking learn more below.

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Foreclosure is the process of a lender seizing a property in accordance with the terms stipulated in the mortgage contract. Read about foreclosure and how to avoid it by clicking learn more below.