home: 5 Financial Terms Every Real Estate Investor Should Know
- 03/25/19 07:02 AM
The success of your real estate ventures depends on your ability to navigate the financial world. Learn these terms to make it easier to understand what's going on with your real estate investments. Cash Flow Contrary to popular belief, cash flow isn't just the amount of liquid assets you have available. Your cash and unused lines of credit are an essential indicator of your ability to complete projects and pay the cost of ongoing operations. However, these factors don't tell the whole financial story. Your actual cash flow is the difference between your gross income and your financial obligations. You can have a large … (3 comments)
home: 3 Questions to Ask Before You Buy Your First Home
- 03/25/19 06:42 AM
Hunting for your new home can be a confusing process. There are countless factors you need to take into account to ensure your new location fits your family's lifestyle and preferences. In their excitement, first-time home buyers can easily overlook some essential points about their potential property. When you're searching for your new residence, ask these questions to get exactly what you're looking for. Am I Financially Ready For A New Home Purchase? It takes more than money to find the right home. Your credit rating is an important factor in your ability to secure enough funding to finance your dream. Check out your … (4 comments)
home: 14 Remodeling Projects That Increase the Value of Your Home
- 03/25/19 06:36 AM
Your home is likely your largest investment. Beyond repairs and regular maintenance to keep it clean, comfortable, and safe, there are a number of projects that can increase the resale value of your property. These renovations top the list of changes you can make that positively impact your home's value. Kitchen With the right strategy, your kitchen remodel could return up to 92.9% of your construction investment. The trick is to not overdo it. You don't need to gut and rebuild the entire room. Instead, make strategic upgrades that increase the comfort and usability of the room. Paint wooden cabinets or install new … (8 comments)
Having an excellent credit score is very useful. The following are some tips on how to maintain a superb credit score. Open Credit Accounts When You Do Not Need Them If you don't have any credit accounts, you will have a low score. The best time to open them is when you do not need them. Keep a small balance on them and pay it all off at the end of each month to avoid paying interest. Charge Up To Half The Credit Limit Then Pay It All Back Within A Few Months If you must use a credit line, only use half of it … (2 comments)
Yikes! You are set on buying the home that you picked out and the appraisal comes back at a lower amount than the amount needed for the home loan to be approved. What do you do? After you calm down your significant other and then take three deep breaths, here are some options to consider. Request A New Appraisal Appraisals are only one person's professional opinion. There are rules that must be followed when making an appraisal; however, there is still some flexibility in how to apply the rules. Check the comparables (also called "comps") that the appraiser used as the basis for … (1 comments)
home: Is Now a Good Time to Cash Out Your Home Equity?
- 03/18/19 08:14 AM
For many Americans, their home is their primary investment. The equity stored in your residence can be a source of available cash for home repairs, upgrades, or for financing the purchase of investment properties. However, few homeowners really understand the process that results in home equity. What Is Home Equity? Your monthly mortgage payment goes towards two different amounts. The first is the interest that you pay for the loan. The other is your principal payment or the amount that counts against the initial amount that you borrowed for the purchase. Depending on the details of your loan contract, each payment is generally … (1 comments)
home: 4 Top Sustainable Home Trends
- 08/17/18 09:40 AM
The emergence of sustainable energy and products have solidified the go-green movement. Solar energy and electric cars are just the tip of the iceberg. The impact of products on the environment has become a significant measure about their value. Those same principles are also being applied to homes. Smart homes and energy efficiency have a direct correlation to home values and listing prices. That's why homeowners and home builders alike have an eye toward sustainable trends. These are some of the top-ranked home trends. 1: Durability Matters After the catastrophic weather that damaged and destroyed homes in Florida and the Gulf states, "resiliency" … (3 comments)
home: Myths About Buying A Vacation Home
- 08/17/18 09:33 AM
Are you thinking about buying a vacation home? Maybe owning two homes is part of your retirement dream. Maybe you'd like to have a second home in your favorite holiday locale. If you are thinking about taking this step, you might have talked to family and friends about it. Unfortunately, many people give well-intentioned, yet poor advice when it comes to buying a vacation home. Here are some myths -- and the truth -- about buying a second home straight from leading real estate experts. You Can Buy A Vacation Home With No Money Down You have probably seen advertisements about buying a … (3 comments)
home: Surprising Things That Can Derail A Closing
- 07/26/18 11:26 AM
Once you and the seller have negotiated an offer and you've been pre-approved for a mortgage, you might think that you are in the clear as far as your closing goes. However, that is not always the case. Many surprising things can put a halt to closing. Some may ultimately stop the closing altogether while others could simply cause a delay. Here are a few unexpected things that can derail a real estate closing: A Job Promotion While you might know that changing employers is one way to interfere with the closing, another deal-breaker can be switching positions with your current employer. If you … (3 comments)
home: What's Ahead For Mortgage Rates This Week - July 9th, 2018
- 07/09/18 09:51 AM
Last week's economic releases included monthly readings on construction spending, public and private sector job growth and June's national unemployment rate. Weekly readings included Freddie Mac mortgage rates and new jobless claims. Construction Spending Rises in May According to the Commerce, construction spending rose 0.40 percent in May; public sector construction spending rose 0.70 percent and private sector spending rose by 0.30 percent. Residential construction rose by o.80 percent, which analysts regarded as a good sign for the economy. Building more homes has long been identified as the only solution for persistent housing shortages that cause high demand for homes and rapidly rising … (0 comments)
home: Understanding the Factors That Impact Your Credit Score
- 06/28/18 07:55 AM
Most consumers believe if they pay their bills on time, they need not worry about their credit score. Oftentimes, it is a rude awakening when they apply for a mortgage loan, car loan, or any revolving credit to learn they are not going to get the lowest rates available due to their credit score. This is because paying bills on time only accounts for 35 percent of your credit score. The remaining 65 percent is spread out among other factors that impact your credit score. Credit Usage and Impact on Score Nearly one-third, 30 percent, of your credit score is based on … (4 comments)
home: Smart Technology or Home Automation: What's the Difference?
- 06/06/18 09:51 AM
Is it worth it to add smart appliances or automated features if you're selling a home? Just how much connectivity do buyers want? And what exactly do the terms refer to in terms of home updates. Although smart homes and home automation are sometimes used interchangeably, they actually refer to two basically different concepts about how appliances and home systems can operate. Then there is the need for "connectivity," adding another dimension to any discussion of futuristic home features. Home Automation According to a Texas-based Direct Energy blog, home automation has a long history, beginning with the first labor-saving devices that operated with … (2 comments)
home: Home Updates That Make Good Multi-Generational Sense
- 06/06/18 09:36 AM
Multi-generational households and the growing preference on the part of many retirees toward "aging in place"have altered home design in recent years. Interiors are more open, more functional and more adaptable that they were even a decade ago. Spaces tend to be less formal; living space is better integrated with work space like the kitchen, and rooms tend to serve more than once purpose, both for quiet pursuits and for family gatherings. Universal Design Home design has gained a new dimension -- planning for the future and for a changing lifestyle. Universal design features and amenities that were once off the radar are now very much … (2 comments)
home: The Humble Vegetable Garden: A Fun, Health-conscious Home Project for the Entire Family
- 05/02/18 11:00 AM
Whether you are hunting for a project that will pry the kids away from their phones or you just want a head start on the spring, few home projects are as rewarding as a vegetable garden. Invest a few hours in planting today, some maintenance throughout the year and soon you'll be enjoying some delicious, home-grown veggies. Ready? Let's get started! Selecting The Right Spot For Your Garden The first decision you will need to make is where your garden will live. If you are new to gardening, you can start with a small patch of land in the corner of your backyard. … (3 comments)
home: Five Reasons Why Spring Is The Perfect Time To Sell
- 05/01/18 01:53 PM
Spring is many people's favorite season of the year. Obviously, there are many valid reasons why this is so. One of the best things about spring is that it is an ideal time to sell your home. If you have considered putting your home on the market any time in the next year or so, check out these five reasons which make spring the ideal time. Buyers are searching - A huge majority of home buyers want to move during summer. Many families have school or work vacations that make the moving process a little easier during this time. If you … (2 comments)
home: 6 Money Making Tips For The First Time Home Seller
- 04/10/18 08:17 AM
Today's homebuyers can have specific ideas and personal preferences that influence their decision on what attracts them to a particular property. While some prefer a fixer-upper, many desire a home that’s as close to turn-key as possible. First time home sellers may help expedite the process with these six home selling tips. Determine Right Listing Price A home priced competitively in its market typically sells faster. Professional REALTORS® know the area and look at comparative listings to help determine the right listing price. First time home sellers often think their home should list higher, and this can turn away buyers. Trust a real estate … (4 comments)
home: Manage These 3 Items Before Applying For A Mortgage
- 04/10/18 08:09 AM
Mortgage lenders weigh the risk of getting their principal and interest paid back by looking at the qualities of the prospective borrower. And due to the amount of money being requested and lent to purchase homes, those requirements can become daunting. Working with a trusted and qualified mortgage professional makes this sometimes confusing process a little clearer. To this end, there are three things that a potential homebuyer can do to prepare for the mortgage approval process. Manage Debt And Credit Levels For many homebuyers, managing their credit score is the biggest challenge. Mortgage lenders like buyers with strong credit. While getting strong … (4 comments)
home: 7 Excellent Ideas For Building An Eco-Friendly Home
- 04/10/18 07:59 AM
In recent years, building an environmentally friendly home or updating an existing home to be more energy efficient has become much more mainstream. While building an entirely green residence isn't always fiscally possible, simple eco-friendly building techniques and upgrades will ultimately lower your water and electricity bills. These green home improvements will save you money in the long run, while also saving the planet. The following are some of the easiest ways to lower your carbon footprint when building or updating a home. Build or Purchase a Smaller Home Smaller homes naturally have a lower impact on the environment. There is less square footage to cool and … (4 comments)
home: 5 Tips For Prospective Buyers To Submit A Winning Offer
- 04/02/18 11:30 AM
In a hot real estate market, agents often tell buyers they must expect to make multiple offers before one is accepted. Disappointment may be the new normal rather than an exception. The stress of repeated rejections isn't easy, so be prepared. Significant numbers of first-time buyers find the process difficult, and recent research indicates that about 60 percent of Millennials choose to rent rather than own, delaying other important life decisions, including marriage and family. There are, however, at least 5 ways to strengthen your buyer profile and give yourself an advantage: Check Your Credit Take advantage of the free credit checks offered by the three credit … (3 comments)
home: 3 Reasons You Might Consider Refinancing Your Mortgage in Early 2018
- 01/30/18 09:34 AM
If you are a homeowner who has had their mortgage for a few years, you may be starting to wonder about refinancing. In essence, this is the process of retiring your current mortgage and taking out a new one because the terms are more favorable to you. Below we will share three reasons why you might want to look at refinancing your mortgage this year. Let's get started. Can You Use Some Extra Cash? Ask yourself: if you had some extra money on hand, how would you use it? Many homeowners refinance to pull out some of the equity value that they … (5 comments)
NMLS ID: 247026
Colorado Mortgage License: 100019059
Benchmark Mortgage, Ark-La-Tex Financial Services, LLC NMLS ID 2143. Equal Housing Opportunity. This advertisement is for general information purposes only. Some products may not be available in all licensed locations. Information, rates, and pricing are subject to change without prior notice at the sole discretion of Ark-La-Tex Financial Services, LLC. All loan programs subject to borrowers meeting appropriate underwriting conditions. This is not a commitment to lend. Other restrictions may apply. Colorado Mortgage Company Registrant – Regulated by The Division of Real Estate #2143
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