You’ve found the perfect home that you know should be well within your budget. Now all you need to do is secure the loan—but you’re either turned down or you have to pay a higher rate. In today’s economy, many buyers are facing this exact issue. They have the means to meet their potential mortgage payment but unfortunately, an issue in the past damaged their credit score and it’s preventing them from getting a loan. If you’re contemplating purchasing a home, especially if you’re a first-time buyer, you need to do everything you can to boost your credit score. This will make it more likely …
Even though it was a very mild winter, there is nothing like the bright, bold colors of spring to put a smile on your face. Why not bring some springtime indoors? Here are a few ideas to brighten your home, but also remember that un-cluttering has a long term effect as well. Living/Family Room: Change out all dark-colored throws and pillows and add brighter pastels and colors. Remove heavy drapes and replace them with light sheers that let in more light and brighten things up. Don’t forget to clean the windows so they sparkle as well! Replace candles with vases of brightly colored flowers. …
Preventive maintenance is crucial to the value and upkeep of your home. Keeping your home in great shape with regular check-ups will save you the headache and cost of emergency repairs. Here are six items to add to your outdoor spring maintenance checklist: Clean the Gutters: Gutters work best when clean and free of gunk. Check yours for foliage, tree limbs, etc., especially if trees hang over the roof. Make sure the downspouts are clean: They should point at least two feet away from foundation walls. Check exterior paint: Look for chipped, cracked paint. Scrape off any failing paint…
The mortgage application process can be cumbersome—so you only want to have to go through it once when buying a home. Keep these tips in mind as you complete the application process to make sure you get the answer you want: Approved! Make Sure Your Credit is Clear: If there are any lingering issues on your credit report, get them resolved prior to application and get your credit in high standing for the best loan rates. Lower Your Debt: If you meet the income requirements, but have substantial debts elsewhere—car payments, student loans or credit card debt—your application may be denied. …
You know what an ounce of prevention is worth? In the case of fire, it’s worth your home and everything in it. Here are seven tips to prevent fire from devastating your home. Repair or replace appliances that repeatedly cause fuses to blow or circuit breakers to trip. This indicates the appliance is causing an overload that could lead to a fire. Keep your clothes dryer’s lint vent clean. Lint is highly combustible. Make it a habit to clean out the lint trap after every load. Also, make sure the flapper to the exterior is opening while the dryer is running. Keeping lint cleared out not only …
In most homes, the ductwork is out of sight and out of mind. But taking a few minutes to think about the ductwork in your home may save you money and increase your comfort. Every connection in ductwork is a potential source of leakage. If your home has any stuffy rooms or chilly spaces, it could be a sign that your ducts are leaking. Here are some facts about leaky ductwork: It is estimated that 30 percent of conditioned air leaks out of the ducts of a typical home. Ducts accumulate 40 pounds of house dust per year. Sealing them will drastically reduce dust circulating in your home. …
If your home is starting to look like a landfill, you’re not alone. You’d like to get rid of all the old stuff you don’t use anymore, but you want to be responsible and don’t know where to take it, right? Here are some of the most common obsolete items and ideas on what to do with them. Technotrash: This is computer-related waste, VHS tapes, cassette tapes, CDs, DVDs and other obsolete accessories. A company called GreenDisk can handle all your technotrash disposal needs by safely and securely destroying your old data, recovering reusable components, and recycling all of the rest of your …
If you’re looking to purchase real estate, you’ll probably come across many terms you are not familiar with, including concurrent ownership. This essentially means that more than just one individual can own property. You might be extremely interested in the details of concurrent ownership if you’re purchasing a property with another person, are married or have children. It’s always good to educate yourself so you can assess all your options (and maybe show off to your real estate agent and loved ones if you happen to come across this term during your house hunt). Below is the basic breakdown …
What could be better than surprising your valentine with an updated bathroom this Valentine’s Day? Below are some ways to do this inexpensively. Paint the walls: This is one of the cheapest things you can do to upgrade your bathroom while still making an impact. Choose pale or neutral colors to make the room seem larger. Paint the cabinetry: A new coat of paint can make the existing cabinets look like new. Change cabinet hardware: Little touches make a big impact. Replace the existing mirror: Put in a mirror that you know your valentine will love. Or, replace the medicine cabinet. Switch …
According to the insurance industry, damages from water cost homeowners more than $6,000 per incident. Add to that the headaches of dealing with the aftermath, and you can see why it’s better to be safe than sorry. Here are three water safety tips for this winter to protect your home. 1. Know where your main water shutoff valve is. In case of an emergency, you don’t want to be running around looking for it. If you have a basement, you’ll probably find the main shutoff on the water pipe coming into your home. Just find it and let everyone in the house know where it is. 2. Prevent pipes from …
Home inspections can turn up repair issues during the home buying process that can increase your cash outlay as a buyer. Problems with appliances, plumbing, and HVAC are just a few issues that can crop up and the seller might not be aware that there was a problem before the inspector brought it to everyone’s attention. If you find yourself experiencing repair sticker shock, keep these thoughts in mind: The choice lies with you: As the buyer, you get to decide whether you want to proceed with the purchase of the home or not and you can ask the seller to participate in the repair. The …
Are visions of renovating a stately, older home dancing in your head? Older homes offer a unique beauty that can’t be found in newer homes. And, rehabbing them can be rewarding. But, think twice before taking on this difficult and expensive task. Here are four problems to look for in the older home you’re thinking about buying: Plumbing problems. The plumbing in older homes can be inefficient or downright unreliable. Homes that are 25 years or older almost always have plumbing problems, with the most common one being lead pipes. Even after lead pipes were replaced in the late 1940s, the …
Is there anything cozier than enjoying a warm fire inside during the winter months? There is something mesmerizing about watching the flames of a contained fire that reaches back into our ancient human past. If you’re lucky enough to have a fireplace or woodstove in your home, experts recommend these precautions: Call in a chimney sweep. Every year, you should have your chimney cleaned to remove creosote buildup. This keeps air flow unobstructed and prevents a chimney fire, which would be devastating to your home. A professional chimney sweep should also check for cracks in the flue liner and…
If you are securing financing for the home that you want to purchase, your lender will require an appraisal of the property as one of the stipulations of the loan. An appraisal is a valuation report that the lender will use to ensure that the property will sell for at least the amount of money it is lending. Appraisals are final when it comes to securing money from a bank, so don’t let a poor one ruin your real estate plans. Be proactive to ensure your appraiser is competent and has all the information he or she needs, because your purchase, sale or refinancing goals are dependent on an …
While people are actively looking in the winter just as they are in the spring, summer and fall, most homes just don’t look as good in the brown, drab winter as they do in the spicy spring and summer. If you want to sell your home this winter here are some helpful tips: Keep it cozy. You want your home to be warm so people can comfortably take their time viewing it. Saving money on heating costs isn’t worth it if it means freezing out your potential buyers. Turn up the light. Keep curtains and blinds open during the day. Turn on your lights—both inside and out—at night. Put your lights on …
Before you put your home on the market, you want to make certain that it’s in tip-top condition to ensure a quick sale. The key to listing your home in today’s environment is to price it competitively and to present a pristine home that a buyer can easily envision making his and her own. To get your home ready to sell, here are five easy and inexpensive home improvements that can go a long way. Layout – Take an objective look at your home and stage accordingly. Remove clutter and rearrange furniture so that potential buyers can envision each room’s purpose. Also, store any obtrusive furniture…
Ideally, to make a room light and bright you want a lot of large windows that let in natural light. Unfortunately, most of us don’t have large windows in every room of our homes. So, what do we do to brighten those dark rooms? Increase Natural Light If a room has one large window, make the most of this natural light by placing a mirror opposite that window. The mirror will scatter and reflect the ambient daylight throughout the room. Add Artificial Light Another great way to lighten window-challenged rooms in a home is to add artificial ambient lighting. Ambient lighting, whether natural …
The home which you’re preparing to buy (or the land on which the home was built) was most likely owned by several other people before you. If there was ever a problem with the property title, it could cause you trouble. Avoid ownership concerns down the road by understanding problems that may occur with the property title and how to protect your property. Title Problems Problems with property titles include forged signatures, unpaid real estate taxes, other liens on the property, undisclosed heirs and errors or omissions in deeds. Property Title Search To uncover problems with the …
What is PMI Insurance? Private mortgage insurance (PMI) is a term many homeowners have heard but few understand. Unfortunately, even more homeowners have paid PMI premiums long after it was needed because they didn't know they could cancel. Here are answers to questions I am most frequently asked about PMI: What is Private Mortgage Insurance (PMI)? As its name states, PMI is insurance. Like all insurance, it protects someone against the loss of something. For example, car insurance protects the car owner against the loss of his car. In this case, PMI protects lenders against the loss of…
Here are nine tips to help you get a home you’ll love and be prepared for additional costs you may not have considered Ask yourself if you're ready. Are you financially ready to buy a home? Do you have a steady job and income? Do you have money for the down payment, which is usually 20 percent of the purchase price-10 percent at contract signing and then an additional 10 percent at the time of closing. Get pre-approved. When you get pre-approved for a mortgage loan, your lender checks your credit and lets you know the amount of mortgage for which you qualify. Having a pre-approved loan …
