Happy Halloween!

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We know 2020 has already been spooky! So we are wishing you and your family a safe and happy Halloween! No tricks - all treats! 👻
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15 or 30 Year Mortgage – Pros and cons

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We are often asked about whether borrowers should take out a 15 or 30 year mortgage. You may have noticed rates on a 15 year mortgage are amazingly low. Lower rate is better right? Well its not quite that simple. Most people actually get a 30 year mortgage. Lets review the pros and cons. The main pros of a 15 year mortgage are the aforementioned lower rate. You are also paying less in interest over the lifetime of the loan. For example a $200,000 mortgage at 15 years with today’s current rates you’d be looking at less than $45,000 in interest. While the same loan at 30 years you’d pay over double that, over $100,000 in interest over the life of the loan. You also have the benefit of paying…
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Cash Out Refinance Versus Home Equity Line of Credit

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You've probably heard that interest rates are currently at record lows. You've probably also heard 2020 is a year like no other. Many people are asking about cash out refinancing or getting a home equity line of credit. Here are is quick breakdown of the similarities and differences between the two loan types. Both allow you to get cash out immediately and in both cases you are borrowing against the equity in your home. The major differences is with a cash out refinance, you are replacing your first loan with a new one and the home equity loan is a second loan to your existing first mortgage and an additional payment. Cash out refinancing generally has a lower interest rate, as it replaces the existing first loan and is seen…
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Getting Approved For A Mortgage If You’re Self Employed

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If you’re self employed getting a mortgage secured is a slightly different process than traditional mortgages. It often comes with additional requirements and red tape. Here are some tips to help you get organized and approved if you’re self employed! Apply For A Mortgage When Your Income is Up We know this is easier said than done but lenders will look at your last two years income most closely, and if you’re income fluctuates its best to apply on an up year. This can help you qualify for a greater loan amount and lower interest rate. Get That DTI Lower Your debt-to-income ratio is one of the key factors in getting approved. So you’ll want to try to pay down debts (both business and personal) as well as avoid opening…
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5 Things to Check on a Final Walkthrough

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If you are about to purchase a house – you are going to be excited and maybe a little nervous. Here are 5 things to do to help lower any anxiety or future surprises. 1. Look For Wet Spots Check the ceilings for wet spots (rings or circles) and discoloration around windows. They can cause issues down the road and be hard to fix! 2. Check The Wiring Turn on the switches, dimmers, check the doorbell, garage door, basically check it all. If things are not working right, there could be an overall wiring issue. 3. Inspect the Bathroom Again look for water damage around toilets, showers and tubs. Also make sure everything is working properly, flush the toilets, check the showers and faucets to make sure the hot water…
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Preparing For Fall

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Fall is officially here (even if it doesn't fell like it :) Here are a few tips for getting ready for the changing of the seasons and colder weather. First you'll want to rake up your leaves as leaving them on a lawn can cause mold and damage the grass. Next clean the gutters as leaves somehow have a magnetic ability to get stuck in them (if you do it yourself make sure to practice good ladder safety!) Check your windows and doors for leaks - this can you really help keep cold air out. If you find a leaky window, you may want to apply caulk to the frames. If you have a fireplace and chimney and haven't had it cleaned lately call a chimney sweep to clean it…
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Bidding Wars – How To Win

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As some high-demand markets and areas are red hot with limited inventory, we are seeing bidding wars with multiple offers on a house or property which can result in a bidding war. Here are a few tips to win a bidding war and if you’re the seller how to pick a winner. Don’t forget to get feedback from your real estate agent as they may have important knowledge about the seller. And don’t get too frenzied where you bid yourself to a point where its going to break your budget! Up the Ante Of course if there are multiple bids on the property, increasing your offer is going to help. In addition you can make a larger down payment on the mortgage to make financing easier, especially if the purchase…
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How To Make Your Work From Home and Virtual School House Work

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Many people are finding their house has turned into a virtual office and a virtual school. Making sure your kids are properly learning through zoom and at the same time making sure you are working productively can be a juggling act! 🤹‍♀‍ Here’s a few tips to help keep the balls in the air! Make Clear Schedules Your kids need to know your schedule and if there are important meetings not to interrupt and you need to make sure you know your kids schedule including online class schedules. A great way to do this is with google calendars you can make one for each parent and child and share them with each other. If the kids are younger you can make it old-fashioned and do it on a whiteboard for…
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30 Year Mortgage Rate Near Record Low

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The federally chartered Freddie Mac is reporting that interest rates are holding near record lows below 3 percent! They reported an average rate on 30 year fixed mortgages of 2.93 percent with 0.8 percent average in closing costs. What does this mean for you? Well if you are considering buying – you have basically never seen better rates. And there’s a good chance you can refinance into a lower a rate with lower monthly payments. Contact us today and we can review your situation and calculate how much you may be able to save!
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