When potential borrowers start making a few phone calls to different mortgage companies to compare rates, itrsquo;s fairly straightforward. The loan officer answers the phone, gets a little information and provides a rate quote. Once the borrower decides where to apply, the wheels begin to turn. Lenders are required by statute to provide certain loan disclosures within three da...
Full Story >Yes, Price-per-square-foot is an important factor in determining the value of a home. But itrsquo;s not the only one.nbsp;ldquo;The reason why the price per square foot method is a poor method to determine market value is because every home is different,rdquo; said Coldwell Banker Seaside Realty.nbsp;ldquo;While homes are similar in terms of square footage, number of bedrooms, ...
Full Story >Sellers that are trying to compete with higher inventory levels will need to be able to compete with other sellers.One way of doing this is by offering seller concessions rather than lowering the price of the property. Home sales remain strong in many markets, but in others, increased inventory may require concessions to ldquo;sweeten the deal.rdquo;Seller concessions offer, of...
Full Story >The Type of MortgageA common mortgage lasts for 30 years, but that isnrsquo;t the only option you have. Depending on your budget, you may choose among varying policies that differ by length, down payment, or government assistance. For instance, the Veterans Affairs Benefits Administration and Federal Housing Administration offer loans that come with as little as zero to three p...
Full Story >Keep Things EasyWhile simple living is all the rage, you may not be interested in minimalist design. However, it is important for busy adults to design their homes in a way that keeps things easy.Do you enjoy outdoor activities such as working on your own lawn or in your own garden? Make sure the entrance youll use the most after these activities is easy to access and that you ...
Full Story >30-year fixed-rate conventionalThis is a 30-year loan with rates that are fixed every month. These loans follow Fannie Mae and Freddie Mac guidelines and are not backed by the government like FHA loans.Pro: With set payments, therersquo;s no need to worry about rising rates. Loans are available for a range of buyers, with options like HomeReady andnbsp;Conventional 97nbsp;that ...
Full Story >More often than not, individual deeds of trust [DOTs] provide a higher coupon than mortgage pool funds [Funds], but there are some specific downsides to choosing individual DOTs instead of Funds. First, choosing the right DOT takes due diligence and a certain amount of expertise in many cases. Investing in extremely conservative DOTs that have LTVs at lower than 25 may not need...
Full Story >ldquo;Refinancing your mortgage to take cash out using your homersquo;s equity may not be as easy to do under new limitations on cash-out refinances >The previous loan-to-value LTV limit on cash-out refinances was 85; effective for loans on or after September 1, 2019, HUD is lowering the requirement to 80. This change ldquo;seeks to mitigate riskshellip;associated with increasi...
Full Story >1. Rates are crazy low.Lower rates mean more affordable lending, or more for your money if you choose to reach higher.nbsp;2. Because it will appreciate.According to Co>3. Because passive income is good.nbsp;Yes, itrsquo;s nice to know there will likely be appreciation over time, but the real key to success with investment properties is passive income.nbsp;ldquo;The best part a...
Full Story >You have not listed your house or condominium unit for sale. Why?Is the decision not to sell and move the result of your active exploration of housing and life>Inertia, or the trend toward passiveness or inactivity, describes, in physics, the tendency of a body at rest to stay at rest unless external energy is applied.In real estate terms, this means yoursquo;ll stay where you ...
Full Story >You must first understand how these three digit scores are calculated. Scores range from as low as 300 to as high as 850. Although Irsquo;ve never seen any score as low as 300 or as high as the perfect 850. Personally, I think either is impossible to achieve. That said, those with excellent credit didnrsquo;t get those scores by accident. Credit scores assign values to five dif...
Full Story >What is Solar Power? How is it Used?In using sustainable solar power, solar panels use photons, or light energy from the sun to create electricity. Crystalline silicon or thin-film cells collect the energy. A junction box connects the solar panel and its output interface. MC4 connectors or USB power interfaces provide weatherproof connections to the system and are weatherproof,...
Full Story >Change Real Estate AgentsSometimes the problem with selling your home isnrsquo;t the house but the selling agent. The worst performers are ldquo;post and prayrdquo; agents who assume that listing your home on the MLS is all they need to do. The solution is to change your real estate agent. Switching to a high volume real estate agent or someone who specializes in your neighborh...
Full Story >Even the simplest jobs come with their safety risks. Understanding these risks and what measures you need to take to protect yourself can save you from some nasty injuries. In this post, wersquo;ll take a look at the proper safety procedures that come with using tools and clothing while doing DIY work at home.ClothingProtective clothing for homeowners has come a long way since ...
Full Story >Regular income is verified by paycheck stubs and W2 forms. Income must be documented to have at least a two year history. This timeline is valid for all sources of income. If someone has only worked for one and a half-years, that individual will have to wait until the two year period has passed. Documentation of the two year period means providing the last two years of W2 forms...
Full Story >The window, as you can see, is directly over the bathtub and also right in the line of sight if you happen to be: in a towel, changing your clothes, or in the commode with the door open It happens. No one wants to meet eyes with a stranger while theyrsquo;re on the toilet.nbsp;We also dont want to completely cover over the window because, despite the ugliness of the glass brick...
Full Story >FinancialYou may have purchased a home with an affordable mortgage interest rate, however property taxes can become a significant part of your expenses. If you moved from another state or even county, its a good idea to find out about potential taxes or local special assessments that will affect your budget. A good way is to confirm the amount with your realtor and title compan...
Full Story >However, to create a small bedroom which looks admirable and feel comfortable is not that easy. You have to deal with the limited space in placing the furniture, deacute;cor items, and accessories inside. Moreover, choosing the colors, patterns, and texture to decorate a small bedroom is not as easy as when you have a huge space.Some simple basic tips to decorate a small bedroo...
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