Homebuying July 11 2018

Does Moving Up Make Sense?

Do you find yourself daydreaming about a bigger home, a shorter commute or a nicer neighborhood? It may be time to consider a move up. But does it really make sense right now? Check out some of our tips on determining if moving up is the right move for you.

Check your equity

You want to make sure you at least break even on your mortgage payoff before selling your current home. Look at your annual mortgage statement or call your lender to find out how much equity you have in your current home. Usually, you don't build up much in those first few years of paying a mortgage, but if you have owned your home for 5+ years you may have significant unrealized gains.

Review your income

Before making a move, review your income and budget to ensure that you can sustain the additional costs involved with moving - a new mortgage, taxes, insurance, and maintenance. You will want to also make sure any larger bills have been paid down before taking on these new expenses.

Location, location, location!

Often times your first home doesn't always fit your current lifestyle. You may have new requirements for your new neighborhood such as school districts, safety, or closer commutes. Check the pros and cons of your current neighborhood to that of a new one to determine if you need to make the move.

Consider a remodel

Depending on what you need, there may be the option to adding on or remodeling your current home. This may be more cost-effective than a complete move, especially if you look into using a renovation loan.

How are the interest rates?

A low rate will not only help you buy a larger home, but it will also make it easier to find a buyer for your current home. Research the rates to see if now is a good time to move up. If rates are low but purchasing a new home may not be practical right now, you can always look to refinance.

Is it time for a home upgrade?

Let's get started

Search Results for query

January 10 2020

How do Interest Rates Affect Purchasing Power?

Purchasing power refers to the price of the home you can afford based on the budget you have available. Naturally, if interest rates start to increase, you will not be able to afford the same home on the same budget. In a nutshell, you will be paying more for...

Read More

December 27 2019

4 Refinancing Myths BUSTED

Don't let common misconceptions keep you away from refinancing your mortgage. Consider the 4 most common myths and why they should be kicked to the curb.

Read More

December 20 2019

Decorating Your Home for the Holidays on a Budget

You don’t have to skip decking your halls this season just because you’re on a budget! The holidays can already be an expensive time for many, so we like finding stress-free and inexpensive ways to get into the holiday spirit. Here are some tips for...

Read More

December 18 2019

Homebuying Hurdle: Debt

Many believe that their amount of debt will be an instant hurdle when qualifying for a home loan. This is not always true. The amount of your debt will not necessarily be a red flag to lenders, but your debt-to-income (DTI) ratio might be. This number is one way...

Read More

December 02 2019

12 Days of Savings

From family meals, travel, gifts, and social outings, the holidays are one of the most expensive times of the year. We have compiled some tips to help you spend mindfully during this holiday season.

Read More

November 27 2019

Market Update: FHFA Announces Loan Limit Increases

The Federal Housing Finance Agency (FHFA) has announced that the conforming loan limits will be increased to $510,400 in 2020

Read More

November 20 2019

Why Interest Rates Aren’t the Only Thing That Matters

Shopping for the lowest rate when looking for a lender could be a detriment to your homebuying experience. There is much more that goes into a positive homebuying experience than the mortgage price tag. If you place a value on communication, timeliness,...

Read More

November 14 2019

Homebuyer Solutions Group Success Story

Marylynn M. and her husband successfully improved their credit scores while enrolled in Eagle Home Mortgage’s Homebuyer Solutions Group (HBSG) program and were able to purchase their dream Lennar Home after graduation. We spoke to HBSG Credit Specialist,...

Read More

November 07 2019

Home Organization Tips to Spark Joy

There is a proven correlation between home clutter and stress. Organizing your abode is a quick and relatively easy way to bring more joy (and extra time) to your life. Here are some home organization tips to help you spark joy!

Read More


Mortgage Calculators

Crunch the Numbers With Our Helpful Mortgage Calculators

Payment Calculator

payment calculator


Affordability Calculator

affordability calculator


Refinance Calculator

refinance calculator


The Modern Digital Mortgage with a Personal Touch

Paperless. Effortless. Awesomeness TM

Simplify the home financing process with our Digital Mortgage. We'll be here to help navigate you through the entire process.

Get Pre-qualifiedWhat is a Digital Mortgage?