Travis Bartelds, Mortgage Loan Officer, Novus Home Mortgage NMLS # 1691169

Travis Bartelds, Mortgage Loan Officer, Novus Home Mortgage NMLS # 1691169 Travis Bartelds
Loan Originator | NMLS # 1691169

As you set your savings goal for your purchase, your down payment is likely already top of mind. Like many other people,...
04/06/2022

As you set your savings goal for your purchase, your down payment is likely already top of mind. Like many other people, you may believe you need to set aside 20% of the home’s purchase price for that down payment but that’s not the case. You may be able to put as little as 3% (or even 0%) in some situations.

Another item you may want to plan for is an earnest money deposit. While it isn’t required, it’s common in today’s highly competitive market because it can help your offer stand out in a bidding war. It’s money you pay as a show of good faith when you make an offer on a house. With earnest money you are showing the seller you’re committed and serious about their house.

The next thing to plan for is your closing costs. Closing costs, which make up about 2-5% of the home’s purchase price, are a major added expense. These generally include but are not limited to lender fees, title examination and insurance, and prepaid items (escrow deposits for taxes and insurance).

Knowing what to budget for in the home buying process is essential. Reach out to me and I can help you understand these and any other expenses that may come up when buying a home.

Are we in a housing bubble?Escalating home prices have both buyers and sellers worried that the market is just “too good...
03/30/2022

Are we in a housing bubble?

Escalating home prices have both buyers and sellers worried that the market is just “too good to be true”.

These 3 key factors suggest that we are not in a housing bubble.
1. Housing supply
2. Housing demand
3. Equity

Reach out if you want to know more about why we aren’t in a housing bubble and why it’s different from what we have seen previously.

Happy St. Patrick’s Day!
03/17/2022

Happy St. Patrick’s Day!

03/16/2022

Today, the Federal Reserve increased its benchmark rate by .25% for the first time since 2018. Mortgage rates have risen over the past several months in response to the economic environment and inflation, which the Fed is now responding to with the first of several rate increases.

Fact or Myth: The Fed raised their rates so mortgage rates must go up also.

Myth: The Federal Reserve does not set mortgage rates. Fixed rate mortgages are tied more to the 10-year Treasury rate. Typically when we see the 10-year treasury rate increase or decrease then fixed rate mortgages tend to do the same.

Buying a home can be intimidating if you’re not familiar with the terms used throughout the process. Knowing key housing...
03/11/2022

Buying a home can be intimidating if you’re not familiar with the terms used throughout the process.

Knowing key housing terms and how they can relate to today’s market is very important.
Example: When mortgage rates and home prices rise, it impacts how much you can afford when purchasing a home.

Make sure when going through the home buying process you have an expert team that can guide you and give you advice on any questions or concerns that may come up.

Happy International Women’s Day to my and women in my life!
03/09/2022

Happy International Women’s Day to my and women in my life!

Getting pre-approved is key every year but in this market it really shows how serious of a buyer you are. Key reasons to...
03/08/2022

Getting pre-approved is key every year but in this market it really shows how serious of a buyer you are.

Key reasons to get pre-approved:
* Houses are selling quickly and record-low inventory is driving multiple-offer scenarios.
* A pre-approval gives you a competitive edge when you make an offer.
* It shows the seller’s you’re serious about buying and ready to make a move.
* Most importantly, it helps you know how much you can afford for your home purchase.

When you’re ready to find your dream home, let’s connect so I can make sure you are ready to start your search and ready to make an offer.

Even in today’s sellers market, there are still ways for buyers to win big!BUILD YOUR TEAM - Make sure to use a trusted ...
03/07/2022

Even in today’s sellers market, there are still ways for buyers to win big!

BUILD YOUR TEAM - Make sure to use a trusted real estate agent and mortgage lender. They have the skills, knowledge, and connections to help you move quickly and effectively.

Your team will have advice to help you make strategic plays/offers, to know what’s in bounds and out of bounds (things you can and can not ask for in this market), and to be ready for the competition.

When you are ready to buy, let’s connect so I can introduce you to my team. My team will become your team and we will be there for you to lean on for our expertise, advice, and to show you how you can still win as a buyer in this sellers market.

With home prices and rates on the rise, are you deciding whether it’s best for you to rent or buy? When trying to decide...
03/04/2022

With home prices and rates on the rise, are you deciding whether it’s best for you to rent or buy?

When trying to decide, consider the many financial benefits that come with owning a home. As a homeowner, you can build your own net worth instead of building your landlord’s net worth. Also you are able to lock in your monthly payments for the length of your loan, instead of paying more in rent when you need to renew your lease.

Let’s connect when you are serious about discussing what perks of homeownership you can enjoy?

After you’ve applied for a mortgage, do you know what things you should avoid so you still qualify for your loan come cl...
03/03/2022

After you’ve applied for a mortgage, do you know what things you should avoid so you still qualify for your loan come closing time? Avoiding these things can help lead to a smooth process, will make sure you still qualify for your loan, and will help to not delay your closing.

Things to avoid:
❌ Don’t make any large deposits or transfers into your account before talking to your lender.
❌ Don’t make any large purchases.
❌ Don’t co-sign other loans for anyone.
❌ Don’t apply for new credit.
❌ Don’t close any credit accounts.
❌ Don’t lose or quit your job.

Before you make any financial decisions, reach out to your loan officer to make sure you’re in the best position when you get to the closing table.

If you have any questions or concerns about any areas of the homebuying process, reach out and I would love to discuss them with you.

03/02/2022

Are you afraid to buy a home or even sell your home because you fear we are headed for a housing CRASH? I would love to chat with you as to what your concerns are and why the market we are in now is a different market than the housing crash we previously had.

If you’re looking to buy a home, you may be wondering how your student loan debt could impact those plans. Do you have t...
02/09/2022

If you’re looking to buy a home, you may be wondering how your student loan debt could impact those plans. Do you have to wait until you’ve paid off your student loans before you can buy your first home? Or could you qualify for a home loan with that debt?

If you’re worried your student loans mean you have to put your homeownership goals on hold, you’re not alone. In fact, many first-time buyers believe they have to delay their plans. According to data from the National Association of Realtors (NAR): “When asked specifically about purchasing a home, half of nonhomeowners say student loan debt is delaying them from purchasing a home (51%).”

Many other buyers with student loan debt are already achieving their homeownership dreams. Maybe it’s time to take the next step toward making yours a reality. Let’s connect to discuss your options and find out how close you are to achieving your goal.

Address

1600 Utica Avenue S, Suite 900
Saint Louis Park, MN
55416

Telephone

+19524126381

Website

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