If you have bad credit, it may seem like buying a house is out of reach - or at least a couple of years away. But, in reality, struggling credit may not be as much of a roadblock as you may think! 

If you have less than ideal credit and have the goal of buying a home, then this blog is for you! Read on to find out more about loan programs for low-credit home buyers as well as how you can improve your score to qualify for a lower interest rate.

The Truth About Bad Credit and Mortgages

Technically, there isn’t a specific minimum credit score to qualify for a conventional loan. Lenders will set their own requirements since they are the ones that are loaning the funds. As you can imagine, they prefer higher scores as that means less risk.

Tax season isn’t always met with positivity. But when you’re a homeowner, you tend to view tax season differently because of the tax benefits. With tax season soon upon us, we wanted to share some of the lesser-known tax benefits of owning a home. 

Did you miss out on the tax breaks for 2019? Not to worry! You can still benefit in the coming year! Come to think of it, the sooner you purchase a home, the longer you can rake in those benefits! 

Interest Paid on Your mortgage is Deductible (in most cases)

Generally speaking, if your mortgage is not greater than $750,000, then you can deduct the interest paid on the loan. This is the most significant benefit of owning a home and claiming it is relatively simple. At the end of the year, your

Millennials, you’re buying your first homes! Congratulations: it’s exciting to see so many of you settling in. If you’re a millennial who is trying to decide when you’re ready to buy your first house, Parks has you covered with our First Home Purchaser’s Readiness Checklist. 

Financial Readiness

Financial readiness is, without a doubt, the most important factor in successfully purchasing your first home without experiencing the pangs of buyer’s remorse that are felt by a reported 81% of millennial homeowners. 

Take the following steps to prepare yourself financially for homeownership.

• Reduce or eliminate all other debt.

High-interest consumer debt, student loans, and sizable car payments will all affect your ability to

Foreclosed homes are some of the best home purchase deals you can find but that doesn’t mean that you should through caution to the wind when considering purchasing a foreclosed home. 

In fact, some foreclosed homes can end up costing you more money (or headaches) than they’re worth. Here’s what you need to know about purchasing a foreclosed home. 

Foreclosed Homes are a Diamond in the Rough 

The first thing to understand is that foreclosed homes are often in a rough state. This may be partly due to the fact that the previous owner was unable to make their mortgage payments, and therefore, couldn’t afford the upkeep either.

Or it could be that the previous owner was imbittered about their home being foreclosed on and abandoned the home,

We pour so much love and care into helping our home take care of us - it’s about time for our homes to help us out a little, right? (Mostly joking - but hey, we take what we can get with our homes, right?). All jokes aside, it’s an amazing world we’re in that we can have switches, appliances, security - you name it - as part of our  “smart home” set up. This means that things that would normally be manual are either automated, activated by voice, synchronized, connected, etc. 

A recent study by a major real estate firm showed that ⅔ of agents agree that buyers are more interested in homes with smart home features than just two to five years ago. Just like any new home feature - while smart home features aren’t yet expected by homebuyers, they are

In 2019, we witnessed the departure of several design trends that had simply worn out their welcome. Dark wood cabinets, pre-packaged looks, all-gray spaces, wall-to-wall white, and solo accent walls were all out, and warm coppers and sparkling coastal blues made a grand entrance.

Whether you’re redecorating your space in 2020, purchasing a new home, or getting ready to stage a home for sale, it’s time to prepare for the new decade of interior design. The following trends are fresh and updated yet classic, and easily adaptable to suit your home’s existing character.

Color Trends

Several companies announced their 2020 pick for “Color of the Year” as 2019 drew to a close, and we’ve picked our favorites. Whether used together or separately, they

Saving for a downpayment is one of the first steps to buying a home --apart from getting pre-qualified for a mortgage. Starting your savings also requires quite a bit of commitment. It takes discipline to forgo that weekend getaway with friends or reduce everyday purchases like your usual morning latte. But when you're saving for a house, every purchase and dollar saved must be a deliberate choice.

But where's the best place to store your home-savings nest egg? After all, you'll be saving in the tens of thousands, not just a couple of thousand. Lenders will also need to verify where your downpayment came from, meaning they'll want to see a record of deposits that prove your savings efforts or gifted funds.

Here are some suggestions for where to

This is not a time of year typically associated with a lot of home sales, but real estate experts advise that owners can actually tap this unique market. All it takes is a different type of prep work and a positive attitude. 

While highlighting bright, sunny days coupled with warm weather and green grass can seem like the best way to market a home, some industry insiders actually prefer to market a home in winter, according to the Realty Times. Homes tend to be more brightly lit, and - in certain cases - even festively decorated in a way that makes a listing look a lot more "home-y" in photos and videos, as well as in person. 

Everyone is motivated 

Another huge benefit that comes with putting a home up for sale in the winter

In 2018, the US enacted significant tax reforms. Homeowners like you are among those who will have taken note of these changes, and may be wondering: under the new code, what are the tax breaks for second homeowners? Does it matter whether the second home is going to be a rental or a vacation getaway, or whether it’s a boat or a chalet?

When comparing the new tax code to the pre-2018 rules, there are four key ways the new tax code affects second homeowners. If you’re considering buying a second home or want to know how the new rules will impact your plans for an Airbnb income stream, read on! Our team at Parks has the information to help you second homeowners make the most of each potential tax break in 2020.

1.) Tax Breaks on Second Homes

Moving closer to work sounds reasonable but is it actually worth it? That’s what we want to help you answer with this article. If any of the points below sound like you, then buying a home closer to work may be the best move you could make.

Ready to buy your next home (or first home!) for reasons other than shortening your commute? We can make that happen! Contact us today to get pre-approved for a home loan and start home shopping.

Will buying a home closer to work save you money?

Sometimes you live out of the immediate work area because of high property values, thinking that it would be less expensive to commute. But the real test is to add up the cost of living, including the mortgage payment, utilities, and property taxes PLUS the cost