First Time Home Buyers: 5 Steps to Get Started

Are you ready to buy your first home? Buying a house is one of the largest investments you will make in your lifetime and being a first time home buyer can make the whole process daunting and confusing. Here are a few steps to get you on the right track. 

Step #1 - Check Your Credit

When you begin working with a loan officer, one of the first questions they'll ask is what your credit profile is like. The bank or lender will run a credit check to assess your level of risk as a borrower including your ratio of debt to income and decide how likely you are to make your mortgage payments on time. Since this is your first time buying a home, do your own credit check first via www.AnnualCreditReport.com to make sure there are no errors. 

Tips to Remaining Calm During the Loan Process

Stress is a buzzword these days. It seems like each month a new study comes out confirming that stress contributes to a variety of mental and physical issues such as high blood pressure, anxiety, insomnia and premature aging. Aside from the obvious "life or death" scenarios one might encounter once in a blue moon, it's everyday situations such as job interviews, sickness, family decisions or financial hardships that really "stress" us out. 

It's a common statement that buying a home is one of the biggest investments a person will ever make so it's no surprise that it is an event that often causes a great deal of stress. Add to the fact that most people need financial help via a mortgage loan and suddenly, you are not only dealing with the stress of picking the "right" home but also qualifying for financing to make it "your"  home. And just when you think the stress is over, rates drop and your in the market to refinance and go through the loan process all over again.

House Hunting Tips Part III: Getting Emotionally Ready to Buy a Home

Are you thinking about buying a home? If you've done your share of house-hunting before, you know that finding that perfect house can be an exhausting endeavor financially, physically and emotionally.

In this Part III of our Home Buying checklist series - we're going to review the emotional prep work necessary to get the most out of your house hunting.

House Hunting Tips Part II: Getting Physicially Ready to Find a Home

Are you thinking about buying a home? If you've done your share of house-hunting before, you know that finding that perfect house can be an exhausting endeavor financially, physically and emotionally.

In this Part II of our Home Buying checklist series - we're going to review the physical prep work necessary to get the most out of your house hunting.

House Hunting Tips Part I: Getting Financially Ready to Buy a Home

Are you thinking about buying a home? If you've done your share of house-hunting before, you know that finding that perfect house can be an exhausting endeavor financially, physically and emotionally.

In this Part I of our Home Buying checklist series - we're going to review the financial prep work necessary to get the most out of your house hunting.

How to Deal with A Difficult Homeowners Association

Whether you currently live in a community with a Homeowners Association (HOA) or are considering buying a home that is subject to an HOA - odds are you might have some concerns about how to best deal with a difficult homeowners association.

Understanding the Bylaws is Key

Bylaws are created upon the formation of a homeowners association to help create a standard of expectation. As a homeowner, reading the bylaws helps you know what is expected of your home and property as well as the proper course of action you should take to make changes or additions. An HOA will be far less of a nuisance if you follow the rules and procedures outlined in the Bylaws.

4 Ways You Might be Killing Your Lawn [and Hurting Your Home Value]

A plush green lawn is part of that "white picket fence" ideal often associated with home ownership. Logistically, your yard is an extension of your home. It frames your landscaping as well as provides a great area for activities and enjoyment. A well maintained lawn can also add value to your home. A yellowing lawn can alternatively, hurt your home value. If you're struggling to keep your grass looking lush and healthy - here are 4 questions to consider that might reveal what is standing in your way. 

Do You Know What Type of Grass You Have?

Believe it or not - but there are dozens of lawn grass variations available to for homeowners to use in their yards. Many lawns are also composed of a mixture of grasses that work well together to create year-round enjoyment. Depending on your area, you might have a Bluegrass/Rye/Fescue grass combination or maybe you've chosen a Bermuda grass or a Bent grass. These variations might require different watering levels and maintenance. Knowing which kind of grass you are dealing with is half the battle to keeping your lawn "happy."
Click here for an easy tool to help identify your grass »

[NEWS] 10% of Americans are "Credit Invisible"

A recent article in the New York Times, reports that "about 26 million Americans lack a credit file." Ann Carrns continues by adding that these "credit invisible" consumers...lack any credit history with the major nationwide credit reporting agencies, which tends to shut them out of the economic mainstream. These findings are according to a report issued on May 5, 2015 by the Consumer Financial Protection Bureau.

"An additional 19 million Americans, or 8 percent of adults, have some credit history, but not enough to create a score. Eighty percent of adults, or about 189 million people, have credit scores."

How is a Credit Bureau Score Calculated?

Whether you are looking to open a credit card, finance a car or buy a home...you've probably noticed that your credit score is important. A credit score is essentially used to assess how likely it is that a borrower will repay a loan. The score measures the relative degree of risk that a potential person represents to a lender or investor and is based on several areas of information (however, because of several laws against discrimination - it is not based on gender, race age or zip code.)

Credit Bureaus & Score Range

Fair, Isaac Credit Bureau scores range between 300 to 850 points - the higher the score, the less risk associated with the borrower. Below are the three national credit data repositories that contribute to your score:

• Equifax - 800-685-1111
• Trans Union - 800-888-4213
• Experian - 800-397-3742

Each of these bureaus may offer you a slightly different credit score depending on the data within their own credit profile. Keep in mind that a score is based on all credit-related data - not just negative data. 

Common Title Insurance Questions...& Answers!

If you've ever purchased a home, it's possible you've heard title insurance discussed however there is often some confusion about this vital part of the home buying process.

What Does a Title Company Do?

When you make an offer to purchase a home - how can you be sure that there are no issues or problems with the home's title? How do you know that the seller actually owns the property? A title company will run a title search on the property to answer these questions. 

Lenders require a title search to prevent fraudulent sales. A title search will ensure that the seller is the owner of the home and attempts to uncover an "encumbrances" that may be on title. Encumbrances include any liens (legal claims) against the property filed by either creditors in an attempt to collect unpaid bills or by the IRS for unpaid taxes. Contractors liens, unpaid homeowner dues and unpaid child support are all examples of other possible issues. These encumbrances must be resolved (paid) either before or at closing. 

The title professional will search the public records which involves reviewing land records that go back many years. More than one third of all title searches reveal a title problem that title professionals will need to fix before you can close. This should not only be important to lenders but also to buyers, as in many cases, encumbrances follow the property - not the owner.

4 Topics to Discuss with Your Loan Officer

You’re ready to buy or refinance – but whether this is your first or fourth loan – you may find that working with a loan officer to be confusing and difficult. Having a clear understanding of what you want and how to communicate with your mortgage professional is critical for success. To keep everything running smoothly – make sure you discuss the following topics with your loan officer.

1 - Communication Style

Mortgage professionals will communicate with you in a variety of ways including by phone, email and text. Some are tech savvy and others prefer traditional methods. The point is to be clear about what YOU prefer. If you respond more quickly to text messages versus voicemail - tell your loan officer. Often times, there are time sensitive issues that arise during the loan process, so it will make everyone happy if your loan officer knows how to get questions answered, additional documentation etc. in a timely manner.

How to Hire a Reputable Moving Company

You've bought a new home and moving day is here! The truck arrives and the movers begin unloading your boxes and furniture when you realize...some items are missing. And then you notice a grease stain on your favorite chair and your grandmother's mirror is shattered. Suddenly, your dream home is filled with the nightmares associated with an unreliable moving company.

If you are planning on moving this year - the best advice we can give you is to follow these 4 key ways to ensure your experience is a happy one.

1. Start by Doing Some Research

As with any service industry, there are companies that excel at what they do and others that do the bare minimum to get by. There are also companies that stoop to scamming their customers. The most effective way to find the kind of moving company that will treat your belongings with care and respect is to educate yourself. Go online and look at several moving companies. If you find a company that you like but have questions - pick up the phone and call. Make sure you get all of your questions answered before you schedule or make a payment.

• Is their website professional? Does it answer your top questions?
• Do they ask for a deposit or full payment up front? (beware of companies that want to be paid in full before the service is completed)
• Are they clear about what their service includes? What will you need to do/provide?
• Do they display their credentials? Ask for the registration number with the U.S. Department of Transportation
• Is the crew made up of employees or sub-contractors? Do they do background checks?

[NEWS] Freddie & Fannie to Offer Mortgages Requiring Only 3% Down Payment

CNN Money recently reported that the "3% down payment mortgage" is making a comeback!

"In an effort to open up lending to more low-income and first time home buyers, Fannie Mae and Freddie Mac announced Monday that they will start backing mortgages with down payments of as little as 3% of the home's price." (Source CNNMoney)

Before you get too excited - it's important to realize that borrowers will need to meet strict guidelines to qualify.