3 Things NOT to Do During the Loan Process

Buying a home is an exciting and important process. It’s crucial to follow the correct steps to ensure a smooth home buying process. There are a lot of things you should do in the mortgage process, but here are a few DON’TS: Change or Quit a Job If you change or quit a job during the loan process, it could mean your loan gets delayed or even worse; your loan may get denied. In most cases, when you change your job, you will have to stay at that job for 90 days before you will be able to proceed with the home buying process. Acquire Any Additional Debt It’s important to make sure that you don’t acquire any additional debt. This means you shouldn’t purchase a car, buy furniture on credit or use your credit cards while you are going through the loan process. The reason for this is because… Read more »

4 Tips For Preparing Your Home For Spring

Warmer weather is approaching, which means it’s time to start preparing for spring time! As exciting as that is, sometimes finding a place to start seems unsettling. Here are some tips for preparing your home for spring. Out With The Old In anticipation of spring, it’s a good idea to go through your closet, bathroom, pantry, fridge and other parts of the home and get rid of any clothes you don’t wear, items you don’t use or food/products that have expired. This also might be a great chance to sell some of those clothes or items to make a little money or donate to those in need. Click here to find a detailed decluttering guide! Deep Clean After a long cold winter that is mostly spent indoors, spring cleaning is a must. Wash walls, clean above the cupboards, shampoo your carpets and anything and everything else you can think of…. Read more »

5 Common Reasons Why a Pre-Qualification Gets Denied

There is nothing worse than going through the application process for a home loan just to find out that you don’t qualify immediately. Here are five common reasons why a pre-qualification gets denied. High debt to income ratio Your debt to income ratio is the ratio of the monthly debt you currently have versus your monthly income. The debts included are from things like car loans, student loans and credit card payments. The ratios vary from loan product to loan product, but the best way to overcome a high debt to ratio income is to pay down any reoccurring debts you have. Poor employment history When you apply for a loan, the first step is to provide the mortgage company with documents needed in order to get you approved for a loan. One of the items that will be requested is a two year history of your employment. You don’t… Read more »

How to Choose the Perfect Realtor

There is no denying that buying a home is one of the most important purchases you’ll make in your life. That’s why it’s crucial to choose a Real Estate Agent that will guide you through the home buying process and get you into the home of your dreams! Here are five traits to look for when choosing your Real Estate Agent.   COMMUNICATION Communication is a huge deal during the home buying and selling process. It is critical that your Real Estate Agent not only communicates with you, but it’s important for them to communicate with all parties involved, including your loan officer and the seller’s or buyer’s agent. The home buying and selling processes rely heavily on timelines and deadlines, so having an agent who is quick to get information to you will ensure a smooth process.   Problem Solving Skills We’d like to hope that buying or selling… Read more »

5 Tips for Moving Into Your New Home

Packing up your old house and moving into your new one seems like a never ending task. Spending a little time planning now can save you time and headaches later. Take a look at these 5 moving tips and prepare yourself for the big move into your new home! Declutter BEFORE you move You know that old dresser in your storage closet that you promised you would paint and fix up… five years ago? If you don’t have serious plans to fix it up and paint it before you make the move, donate it or get rid of it before you do.  Nothing reminds you how much random, useless items you have quite like packing up and moving your whole house, so create a solid decluttering plan (like this one!) and only move the stuff that will be put to good use! Don’t purchase boxes immediately There are a lot… Read more »

Creating An Energy Efficient Home

Energy Efficient Home More and more people are becoming environmentally conscious and want to find ways to live green and help preserve the environment we live in. There are plenty of things that people can do around the house that can help make your home more energy efficient and help you save a few pennies along the way. Electronics Using Energy Star electronics, like laptops and television systems, will help save energy and money through the life of the electronic product. Energy Star is a government voluntary program that helps lower energy use on products for Americans. To find certified Energy Star electronics, visit www.energystar.gov/products. *Quick Tip: Using power strips to plug in all your electronics makes it easy to turn off at the end of the day, resulting in saving energy and money. Appliances Energy Star appliances, including an energy star refrigerator and dishwasher, will help you save energy,… Read more »

Tax Deductions & Mortgages

Tax Deductions & Mortgages Tax time is upon us! If you’re a home owner this can be good news for you, because there are several costs that may be tax deductible.   Property Taxes A property tax is based on the value of a property and they may be considered a deductible from your taxes starting from the day you purchased the house. Each district in your city and county have different rules and regulations that determines the property’s value, which then determines the tax you pay. Mortgage Interest Mortgage interest is usually included in the monthly mortgage payment you make to your lender. The interest you pay on your primary and secondary residence can be applied as a tax deduction. Discount Points A discount point is a prepaid amount of interest for your mortgage that lowers the amount of interest you have to pay on your monthly mortgage payment…. Read more »

5 Reasons It’s Important to Get a Home Inspection When Buying a Home

Buying a home is an exciting time and perhaps one of the most important purchases you will make in your life. There are a lot of steps and processes you have to go through and although they may seem tedious, they’re important in insuring you’re purchasing the right home for you and your family. One of the most important steps to take when purchasing a home is to schedule a home inspection. Here are 5 reasons why it’s important to schedule a home inspection when purchasing a home. 1. You know the condition of the house before you purchase it A home inspector evaluates the condition of a home and the systems within the home. From the foundation to the plumbing to the garage/carport, a home inspector look for any possible signs of damage or safety issues before you purchase the home. 2. They know which problems to look for… Read more »

3 Things You Can Do to Make the Closing Process Faster

Purchasing a house is a very exciting time in a person’s life, but it can seem like a long, daunting process. Here are a list of things you can do to make closing on your new house quick and painless. Follow your loan officer’s advice/instructions Your loan officer and his team understand the importance of the necessary steps needed to ensure a smooth transaction. If at any time you have questions about the advice or instructions given by your loan officer or his team, please call and ask for clarification. Don’t be afraid to ask questions If you’re like most people, chances are you will have many questions throughout your loan process. If you are confused or would just like some clarification about something, be sure to contact your lending team and ask them any questions you may have. This will help assure that you are doing the things you… Read more »

What Is An Appraisal?

The Appraisal The appraisal is another important step in the home buying process. The appraisal report offers a close estimate of the house and property’s true value. Once you tell the lender that you’ve selected a house and negotiate the terms with them, they will have an appraiser inspect the home. Their appraiser will prepare a report estimating how much the house is worth. This is to ensure the lender that you are paying the right amount for the house you want. The lender isn’t going to lend you $180,000 for a house worth $135,000. The appraiser will look at the home and come up with a home value while taking the selling price of similar homes in the area into consideration; however, if it is a duplex, they will also come up with potential rent as income. It is very likely that you will pay for the appraisal upfront,… Read more »