realestate: 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)
realestate: Look Beyond The Interest Rate: What Else Matters When Choosing A Mortgage Lender?
- 06/29/18 10:56 AM
Most consumers securing a mortgage plan to remain in that loan for 30 years. During that time, the borrower maintains a relationship with the loan servicer or lender. Most often, home buyers do not think twice about who the mortgage lender is, but rather focus on the interest rates offered. Look beyond this information. Borrowers need to take into consideration much more before they sign on the dotted line. Here's what to look for specifically: Choosing a Specialized Lender Can Help Home buyers interested in special loan programs must select a lender approved to provide those loans. FHA, USDA and VA loans, in … (1 comments)
realestate: 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)
realestate: 7 Tips To Plan A Spring Yard 'Tune-Up' Before Listing A Home For Sale
- 04/02/18 11:11 AM
The oft-repeated maxim that there is never a second chance to make a great first impression is especially true when it comes to real estate. Street appeal may focus on a dramatic approach to the front door, but prospective buyers will be especially "wowed" by an appealing back yard. Early spring is the perfect time to add some new plants, set out pots of blooming flowers and focus on one memorable feature. A little work now will pay big dividends later, in terms of buyer interest, increased showings, quick offers, and even a higher price. Here are 7 ideas that are cost-effective weekend projects: … (2 comments)
realestate: Speed Your Mortgage Approval by Following This Checklist
- 01/30/18 09:30 AM
Have you finally found your dream home after months of searching, only to discover that the seller has received other offers? Few circumstances can raise your stress level as much as finding yourself in a bidding war against another buyer. However, being unprepared by not having your finances in order can make the situation even worse. Let's take a quick look at a few ways that you can speed up your mortgage approval if you are in a hurry to buy your next home. Pull Your Credit Report ASAP The first step you will want to do is check your credit report … (4 comments)
realestate: Make 2018 the Year You Escape the 'Rental Trap'
- 12/01/17 09:18 AM
Are you growing tired of paying rent each month and not building your net worth? Being stuck in the 'rental trap' isn't much fun, but if you are determined, you can break out. Let's explore some of the steps that you can take to make 2018 the year that you become a homeowner. Rent Money Is Lost Money First – why homeownership? As you may already understand, money spent on rent is 'lost' money. Each month you pay your rent, but you do not build any equity, own any property or get any other benefits in return. When you own a house, the … (1 comments)
realestate: Til' Debt Do Us Part: How to Get a Mortgage If One Spouse Has Poor Credit
- 04/12/17 08:18 AM
A poor credit history is a reality for many people, but it can be particularly daunting when it comes to investing in a house. Simply because you or yours have experienced bad credit doesn't mean that you should be penalized in the future. If your spouse has struggled with bad credit in the past but you're both preparing to move forward and invest in a home, here are some tips for getting it together financially. Face The Music Many people who have bad credit are too scared to look at their credit report and broach it honestly. But it's important to come … (5 comments)
realestate: 3 Budgeting Tips For Home Buying With One Income
- 04/11/17 08:52 AM
Are you thinking about buying that perfect new home? Whether you're buying for yourself or for a family, there will be many costs involved. Let's take a look at 3 budgeting tips that will help make home ownership on a single income easier. Get A Full Picture Of Home Ownership Costs Buying a home is never as simple as paying a mortgage payment each month. As with most budgets, the first place to start is a full consideration of everything involved. On top of your mortgage, what other monthly costs will come up? Consider utilities like electricity, phone, cable, water and others. … (2 comments)
realestate: Your Debt-To-Income Ratio and How It Affects Your Mortgage
- 04/05/17 02:12 PM
When you're delving into the market in the hopes of finding your dream home, it's likely you'll come across the term debt-to-income ratio. While it might not seem important at first, but your DTI is the key to determining the amount of money you can put into your home and how much you should spend on a monthly basis. If you're curious about what this means for you, here's how to calculate DTI and how it can impact your mortgage. What's Your DTI Ratio? One of the best ways to determine whether or not a home is affordable for you is to first … (5 comments)
realestate: 5 Things You Should Do Now Before Selling Your Home
- 02/23/17 09:07 AM
It's often so exciting to think of buying a new home that homeowners forget about the sale. But there are a lot of details involved in putting a home on the market. Whether you're just considering selling or you're ready to put your home up, here are some things you might not know about the process. Marketing Strategy Is Important The days of putting a sign on the front yard and waiting for buyers are gone. It's important to have a strategy that will successfully highlight your house. Whether you decide to make a website, use social media or invest in a … (2 comments)
realestate: What's Ahead For Mortgage Rates This Week - February 6, 2017
- 02/06/17 08:06 AM
Last week's economic news included several good signs for U.S. Labor Markets with higher than expected readings for private and public sector job creation. The Federal Reserve announced its decision not to raise the target federal funds range, and inflation rose. Mortgage rates held steady and pending home sales rose. Private and Public Sector Jobs Post Unexpected Gains ADP, which tracks private-sector job growth, showed a gain of 246,000 jobs in January against expectations of 168,000 new jobs and December's reading of 151,000 private sector jobs created. Analysts said 208,000 of jobs added were service-related jobs. January's Non-Farm Payrolls, which is issued by … (2 comments)
realestate: What's Ahead For Mortgage Rates This Week - January 17, 2017
- 01/17/17 02:28 PM
Last week's economic reports included readings on job openings, retail sales and consumer sentiment in addition to weekly reports on new jobless claims and Freddie Mac's survey of mortgage rates. Job Openings Hold Steady in November; Quits and Hires Increase According to the Labor Department, job openings held steady with a reading of 5.50 million openings in November, which matched October's reading. Hires and quits showed more activity, which analysts deemed a healthy sign for the economy. Workers typically hold on to their current jobs in times of economic uncertainty, while they may be more comfortable with changing jobs in a strong economy. … (3 comments)
realestate: 4 Mistakes Made by First-time Home Sellers And How To Avoid Them
- 01/12/17 12:22 PM
Many factors go into selling a home for the first time. Some can make it a stressful process, and there are a few things you should avoid for a successful sale. If you're putting your home on the market and hoping for quick success, here are some common mistakes you'll want to be sure to bypass. Pricing Your Home Too High It's entirely likely that there's an amount you have in mind when it comes to selling your home. But it's important that your asking price is in line with the market conditions and what's being offered. Instead of winging it, check … (3 comments)
realestate: What's Ahead For Mortgage Rates This Week - August 22, 2016
- 08/22/16 12:08 AM
Last week's economic news included the NAHB Housing Market Index, Commerce Department releases on housing starts and building permits issued. Weekly reports on mortgage rates and new jobless claims were also released. Shortages of available single-family homes have driven up home prices and increased competition among homebuyers; short inventories of homes for sale are affecting affordability in many areas, although buyers seem motivated by lower mortgage rates and some easing of mortgage requirements. Analysts have repeatedly said that the only solution to the shortage of homes is building more homes. Fortunately, the National Association of Home Builders reported that builder sentiment concerning U.S. … (3 comments)
realestate: Fixer Upper 101: Understanding Purchase & Renovation Costs
- 08/08/16 08:35 AM
Fixer uppers can come with huge price benefits and opportunity, as well as problems. Make sure you understand what you're getting yourself into before you purchase a home that needs significant restoration. Carefully Calculate Do the math very carefully before jumping in. Add up the expected renovation costs based on a thorough evaluation of the property. As some of the expected costs will lie within a grey area, it is important that you base your estimation on the higher end of the price range. Be sure to account for all materials and labor. Once you have calculated your expected renovation costs, subtract this number … (2 comments)
realestate: Is More Housing Inventory On The Horizon?
- 06/21/16 05:02 AM
There has been a lot of talk about the rising value of houses in recent years. While some have expressed concern over another 2008 style housing bubble forming, we have dispelled this notion. While economics is a bit more complicated, most moves are the direct result of what you may have learned in school: supply and demand. The Buyers are VyingWhile no-one doubts that the current economy is sluggish (with varying opinions as to why), the demand for single family homes has continually increased. To corroborate that this is not just a timely fad, surveys show that 80%+ still considers home ownership an essential part of … (2 comments)
realestate: Mortgage Fraud: 3 Common Scams To Avoid
- 06/17/16 08:57 AM
There are many ins and outs involved in securing a mortgage lender, and as a result there are many offers and options out there which are only around to take advantage of prospective homebuyers. If you're on the lookout for a home and are trying to wade through all the details successfully, here are some things you may want to be aware of. The Perfect Rental Deal If you've ever rented an apartment in the past, it's entirely possible that you've run into deals on Craigslist where a sizeable, stunning property is advertised at a very modest price. While scams like this … (1 comments)
realestate: The Pros and Cons of Purchasing A Rental Property
- 06/15/16 01:47 AM
With the ever-fluctuating cost of housing, buying real estate can be one of the best investments a person can make. However, a lot of important factors can be left out of the final decision when it comes to purchasing a home as rental property. If you are taking the initial steps to invest in a second home, here are some important things to consider before you make the financial commitment. The Distance To A Destination Many people who purchase second homes to rent out choose to buy in places that are sought after, whether it's a trendy area or beachfront property. While buying … (2 comments)
realestate: 4 Financial Benefits of Home Ownership
- 06/14/16 07:09 AM
Home ownership may be one of the most familiar goals of adulthood, but there's more than one reason why so many people flock towards this type of investment and leave the rental market behind. If you're trying to decide if you should make the big plunge towards buying, here are some benefits of saving up for a down payment and finding the right place to settle in. It's More Economical Many people eschew home ownership simply because it can be hard to wrangle together the funds for a down payment. However, while a monthly rental is money you'll never see again, the money … (2 comments)
realestate: How Technology Is Creating an Easier Mortgage Approval Process
- 06/07/16 12:01 AM
From saving up for a down payment to sussing out the ideal lender, there are so many things involved in purchasing a home that can make it seem like a rather complicated undertaking. However, like a lot of things in our lives, technology has streamlined the process in recent years. If you're currently searching for a home on the market, here are some new technological advancements that may make buying a little easier for you. The Smart Phone Advantage The paperwork and requirements associated with a mortgage may not have changed much in recent years, but smart phones have provided us with the … (0 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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