There are a lot of people who are wondering if now is the right time to move or refinance their current home loan. With interest rates still favorable, a lot of homeowners have the potential to save a lot of money if they are able to secure a home loan with a lower interest rate. There are two ways homeowners can secure a home loan with a lower interest rate. The first is to refinance. The second is to move. Which option is better? There are a few key points to keep in mind.Taking A Closer Look At RefinancingThere are a lot of homeowners who have an abundance of equity currently built up in their homes, making this a great time to refinance. With a refinance, there are multiple options available. Some homeowners might refinance to access the equity in their homes, allowing them to compl... 06/17/2021

If you are planning on purchasing a home in the near future, you need to make sure you have enough money saved up. While there are a lot of expenses that go along with purchasing a home, the biggest expense is the down payment.The common belief is that people have to put 20 percent down; however, even if you don’t have 20 percent saved up, you might still be able to purchase a home. It will depend on whether you can get a lender to provide a loan that is greater than 80 percent of the purchase price of a home. If you have a strong credit history, you may be able to get one.Getting A Loan With Less Than 20 Percent DownFirst, many lenders realize that many people do not have enough money saved up to put down 20 percent. After all, this could be tens of thousands of dollars.  Although some... 06/15/2021

Becoming a homeowner for the first time is exciting. However, for many potential buyers, the process can also be confusing. Below is an overview of the steps you need to complete in order to buy your first home. Work Out The FinancesThe first step in buying a home is deciding on a price range. This price range will be determined by your income, as well as your own comfort level with home prices and monthly payments. Consider all of these factors to determine the maximum amount you are willing to spend on your new home. In most cases, you will be required to pay the downpayment and closing costs upfront, even if you are financing the rest of the home’s purchase price. In general, most lenders will expect a downpayment equal to 20 percent of the home’s purchase price. Otherwise, you may b... 05/11/2021

When you buy a home, you may have dreams of settling into a beautiful new space that meets your needs and that your family can feel comfortable in. While many will enjoy this vision of domestic tranquility after taking ownership of their dream home, others have had their dream turn into a veritable nightmare due to some simple mistakes or oversights on their part. By understanding these mistakes, you can avoid making them yourself.Paying Too Much For The PropertyOne the surface, the main cost of buying a home relates to the sales price, and it is true that your monthly housing payment may be the primary related expense. However, other expenses such as homeowners insurance, property taxes, repair and maintenance costs, utilities and more will all need to be factored into the cost of home... 04/30/2021

One of the most significant factors a mortgage lender will review when you apply for a new mortgage loan is your credit history and rating. While some people have stellar credit, others have a troubled credit history with lower scores.If you fall into the latter scenario, you may be wondering how lenders will assess your credit situation when you apply for a mortgage in the near future.Reviewing Your Credit ScoresInitially, lenders will review your credit report to determine your credit scores. Your scores will have a direct impact on the interest rate that you qualify for or if you qualify for a loan at all. There are prime mortgages for good credit borrowers and sub-prime mortgages for those with a blemished credit rating.If your scores are too low, however, you may not qualify for a ... 04/06/2021

Organizing a home seems like a significant challenge. Fortunately, there are easier ways to make this happen. In less than an hour per day, it is possible to organize a home from top to bottom. Getting these unnecessary items out of the way might even prevent people from stubbing their toes! How can this be possible? Start Getting Rid Of Unnecessary ItemsStart by creating two boxes. The first box should have the word “donate” written on it. The second box should have the “trash” written on it. Then, go through every room in the home. Find items that can be donating. Take them to a local Goodwill or Salvation Army. Remember to get a receipt because these items may be tax-deductible, as long as you work with a trained tax professional.Then, take items that can be thrown away and place the... 03/09/2021

When preparing to list your home for sale, you may be wondering who will buy your home. While this initial thought may be one spurred by curiosity, the fact is that understanding who your target audience is and what they are looking for in a home may help you to position your home to sell more quickly and for a better price.If you have determined that there are many younger buyers moving into your area, you may want to make a few changes that will add appeal to this target audience. While you could spend tens of thousands of dollars or more completing a home makeover, there are a few budget-minded ideas that you may consider.Add Color to Molding and TrimOne of the hottest trends in home décor and interior design is to get rid of the standard white trim and molding and to add color to th... 03/04/2021

There are a lot of people who are looking for ways to get the most money out of their property when they put it on the market. One of the tricks to doing this is to update the home before it goes on the market. Unfortunately, this can also be expensive.Even though it is true that many homeowners will be able to recoup the price of the renovations when they list the home on the market, we still need to pay for these updates out-of-pocket. This can be incredibly expensive and could take money from other important areas, such as a car or someone’s education. Fortunately, there is a way for people to update their home without spending any money out of pocket. Refinance The Home And Free Up Some CashThe first option the people need to consider is the opportunity to refinance the home while a... 02/11/2021

Buying real estate and or taking out a home loan is a significant milestone in life. Frequently, it means that a new phase is starting, whether it’s a new job, a new relationship, or moving to a new area. However, when the most basic steps are missed, this transition can be fraught with stress and disaster. To ensure a smooth transaction, home buyers should be sure to mind the following tips.#1: Always Be HonestHonesty and clear communication need to be a two-way street. Home buyers expect their mortgage professional to be honest with them, and likewise it is always necessary for a home buyer to be honest with their mortgage professional.Hiding details or covering up potential problems by either party will only cause more issues when everything comes to light. When important information... 02/10/2021

There are lots of homeowners who are looking for a way to improve the quality of their home while also increasing the value of their property. Unfortunately, a lot of home improvement ideas can be prohibitively expensive. It is not unusual for homeowners to spend six figures on a renovation project. On the other hand, there are also home improvement ideas that will not break the bank.What are a few of the top ideas that homeowners should consider? Start With A Few Quality Ceiling FansFirst, homeowners should consider starting with a few quality ceiling fans. Because a lot of homeowners do not look up at the ceiling on a regular basis, they may not realize just how old their ceiling fans are. Therefore, homeowners should consider updating their ceiling fans. Ceiling fans should be hung b... 01/27/2021

If you’re a homeowner who is looking to tap in to the home equity that you’ve spent years building you may be interested in a “reverse mortgage” or “home equity conversion mortgage”. While these unique financial tools aren’t for everyone, if you qualify for a reverse mortgage you’ll find that this might be the perfect financial solution which allows you to pay off your existing mortgage, or for some other regular expenses that you have.Let’s take a closer look at how reverse mortgages work, including how to qualify, what happens to your existing mortgage and what a reverse mortgage might cost.Do You Meet the Requirements for a Reverse Mortgage?In short, a reverse mortgage is a type of home loan in which the lender pays you monthly payments or a lump sum based on the equity that you’ve b... 12/31/2020

For those who are looking to buy a home, they know that this is one of the most exciting experiences in the world. There is something special that comes with looking at a bunch of homes and envisioning a life there. On the other hand, the prospect of saving 20 percent of the home’s value to put down might seem overwhelming. Fortunately, there are a few creative ways that people can save up enough money to purchase their starter dream home.Talk To The SellerOne of the first tips that people need to keep in mind involves talking to the seller. There are a bunch of items that need to be negotiated between the buyer and the seller. One of the most important is the closing costs. Ask the real estate agent to speak with the seller. Even if the seller is able to take half of the closing costs,... 12/29/2020

For most people, their home is the most valuable investment they will ever make. Therefore, it needs to be protected. This is where homeowners’ insurance is critical. At the same time, buying the right amount of homeowners’ insurance can be a bit of a challenge.A home that is underinsured leaves the homeowner vulnerable to situations involving fires, floods, and theft. On the other hand, nobody wants to throw away money unnecessarily by over-insuring the home. How can everyone purchase the right amount of homeowners’ insurance?Review The Coverage Every YearFirst, people’s needs are going to change from year to year. Therefore, everyone should review their policy annually. For example, actual cash value only reimburses someone based on the current condition of the home. For example, if a... 12/15/2020

Current times are tough and there are a lot of homeowners who are having trouble making ends meet. Therefore, they are looking for ways to remain financially afloat as they assess their options. One option that people might have heard a lot about is called mortgage forbearance.It is critical for everyone to understand what mortgage forbearance is and how this might be able to help them during these challenging times. Importantly, it is also important for people to know what mortgage forbearance is not.What Does Mortgage Forbearance Do?For those who are currently facing financial challenges, mortgage forbearance might be helpful. The goal of mortgage forbearance is to allow people to temporarily stop making payments toward their mortgage. This is particularly helpful when someone is look... 12/09/2020

Are you feeling the “renovation itch” or perhaps looking for a fun project that you can take on which will provide you with a return on your investment? There are numerous home upgrades and renovations that can add value to a home without costing a large sum of money to complete.Let’s take a look at three popular home renovations that can increase your home equity without draining your bank account.Are you feeling the “renovation itch” or perhaps looking for a fun project that you can take on which will provide you with a return on your investment? Let’s take a look at three popular home renovations that can increase your home equity without draining your bank account.Paint Your Home Inside and OutPainting the interior or exterior of your home costs very little when compared to how much... 11/13/2020

During the past few months, people have been spending much more time at home than usual. Therefore, many people are looking for ways to upgrade their homes. A common area of focus is the kitchen.Even though many people are thinking about upgrading cabinets and countertops, the kitchen pantry should also be a target for home improvement. There are a few simple ways that everyone can improve their kitchen pantry. Use Vertical StorageOne of the top tips for everyone to follow is to use vertical storage capacity. It is a smart idea for everyone to build in a few extra storage areas by thinking about under-shelf baskets. These baskets can help people instantly create space for various items and ingredients. Furthermore, think about using the insides of cabinet doors to create some extra shel... 11/10/2020

It doesn’t matter if you heat your home with electricity, natural gas or some other energy source; prices continue to rise and that means increased heating costs for most of us.In today’s blog post we’ll share three easy ways that you can save money on your home energy costs this winter.Install and Use Programmable ThermostatsNow that Nest and other companies have brought Wi-Fi enabled, programmable thermostats on the market there’s very few excuses to avoid using them. At bare minimum you’ll want a digital thermostat that can be programmed to turn on and off at certain hours of the day.For example, you can shut your heat off after leaving for work and have it turn back on again a half-hour or so before you get home. You can do the same at night when you’re fast asleep under warm blanke... 11/06/2020

There are a lot of people who are looking to improve the home in which they live. One of the top ways to do this is to renovate the building; however, it is also important for everyone to make sure they know exactly what they are doing before they get started. There are several questions that everyone should ask before they start a home renovation project.Is The Home Worth Renovating?One of the top reasons why people renovate a home is that they think this is going to increase the value of the home. While this is certainly possible, everyone has to run the numbers and make sure they are either going to recoup their investment when they sell the home or that they are going to be in the home for a long time before they sell it. If the home is worth renovating, then it is fine to proceed.W... 10/23/2020

If you’ve had some trouble getting approved for a mortgage recently, you’re not alone. Many individuals face mortgage challenges due to past blemishes on their credit reports or a personal financial crisis that resulted in bills not being paid on time.In this post we’ll share three quick tips for sprucing up your personal credit before reapplying for a mortgage. With a bit of luck and hard work you can be on your way to purchasing that new dream home.Pay Off Your Credit Cards And Lines Of CreditThe easiest way to improve your credit score and prove that you can afford your mortgage payments is to eliminate other forms of debt from your monthly budget. If you have outstanding credit card, student loan or other debts, get them paid off as quickly as possible.You’ll also want to avoid taki... 10/14/2020

Owning a home comes with a lot of joy and responsibility. Many homeowners are looking for improvement projects that they can do themselves. There are a few options that rise to the surface. Take a look at some of the fun projects that most homeowners can do at home!Perform Routine Maintenance on the HVAC SystemOne of the top projects that homeowners can perform involves routine HVAC maintenance. In order to make sure the HVAC system is running appropriately, it is important to service it regularly. Even though there are a few tasks that have to be left to those with the right training, there are other tasks that the homeowners can do themselves. This includes wiping off the breaker, cleaning the exterior, and even cleaning the blower with a vacuum.Seal Home Areas Contributing To A Draft... 09/30/2020