Most people have a thirty-year mortgage – that is the most popular type. There is a twenty-year mortgage option! The twenty-year mortgage has an interest rate that does not change and the rates are typically a little lower. You will also have paid less interest but a higher monthly payment. A huge perk to the twenty-year mortgage is that you will own your home faster and you will save money by not having to pay as much of interest.

Saving money is always something you want to try to aim for! Again, you’re saving money by not having to pay so much in interest. In some cases, the monthly payment may not even wind up being more expensive than a thirty-year mortgage option. Also, some of the twenty-year mortgage options have a lower interest rate.

Some other things to consider are if you plan to retire soon and think you’ll be on a fixed income. If that is the case, a shorter mortgage would be helpful. Also, if you want to build equity and purchase another home in the near future, you would want a mortgage with a shorter length of time.

There are a lot of things to consider when you are trying to decide on which type and length of mortgage you want to have. As always, we are here for you throughout the whole process!

When you see that a sale is pending, that means that the seller has accepted an offer but the deal is not completely closed yet. The property that is listed as pending means the listing is not an active listing but there is still legal work waiting to be processed and the loan is waiting to be closed. There is potential for a home that is listed as a pending status to become an active listing again if the deal falls through. We will discuss some reasons for the pending listing to not go through in this post.

A pending sale will not go through for a few financial reasons. To begin with, if the buyer makes an incredibly large credit card transaction or even opens up a new credit card, you may be disqualified for your loan. Have an open conversation with your loan officer in regards to your finances – especially if it is completely necessary for you to make a large purchase before the sale is finalized and goes through.

If there is an open lien or bill on the property being sold, it is possible that it will affect the finalization of the sale. Until open liens are taken care of, the lender will not allow the sale to go through. Also, if there are any clerical issues, including title work issues, the sale may not go through.

Another reason a pending listing may fail is if a home inspection fails and the seller does not tend to the issues that were found during the inspection.

It is not common for these issues to occur but it is possible. If you have any questions in regards to the process, please do not hesitate to reach out.

Especially in today’s market, real estate can be a great investment – whether it is for you to live in, as a flip and sell property, or even rent it out to make a profit. Regardless of the reason, there are a few things to think about before taking the plunge!

We have talked about this before, but we will remind you of it again…your down payment is important! Fifteen to twenty five percent down payment should be made if you are purchasing a home for investment purposes. Your interest rates might be higher so the more you put down, the better.

You need to think about a property management company if you do not want to be a landlord and take all the responsibility that comes with that. As a landlord, you need to be available twenty-four hours a day, seven days a week. If something goes wrong…in the middle of the night or while you are on vacation, you will be expected to find a solution in a very timely matter. If you are unable to get in touch with, your tenant will be very unhappy. Although a property management company comes with a fee, your stress level will be decreased as not only will they help you find a tenant, but they will help with fixing repairs, paperwork, etc.

We would recommend you try to figure out how much income you will make from your rental property, before taking the plunge and purchasing a home for investment purposes. We suggest you first figure out what the rental fee is in the surrounding area of the potential home. This will help you figure out if you will be able to at least cover the mortgage expense.

One last piece of advice we have for you is at the event you do not have tenants in the home for a month – or more – will you be able to pay the mortgage? Something else to take into consideration is, if tenants damage your property, will you able to afford the repair cost? Any unexpected fees that arise, will you be able to cover those too? For example, if the air conditioning unit goes out, can you afford to pay for that?

Investment properties are a big decision! We want to make sure it is the right one for you and your family. When you decide that it is the right decision, we will be here for you throughout the whole process!

Buying a home is quite an exciting time! There are a lot of things to think about and keep in mind when making your decision.

To start with, your mortgage options are something to consider. Typical mortgages last thirty years. You do have different options, though! Some factors that take into account your other options include: mortgage length, down payment, and government assistance. Someone like myself would be the best person to talk about and discuss all of your options. There are a lot of things to consider when it comes down to it and I am here to help!

We have talked about this before, but your credit score is also very important. Before falling in love with your dream house, make sure you have a high enough credit score to ensure no surprises as you are in the process of purchasing a new home.

Home warranties are also something else to consider when choosing a home to purchase. These types of warranties are not required in homes so not all of them will have it available. If you come across a home that has one, it is something to consider, as any repairs of what the warranty is on will be of no cost to you. Keep in mind that all home warranties are different but for the most part, that is how they work.

In the past, we have also reminded you to make sure you have enough funds to cover your closing costs, furniture, appliances, etc. These factors are some that often get overlooked and it’s important not to forget about them! Also, don’t forget to look into the neighborhood as well – crime, safety, traffic, schools, etc.

There are so many things to take into consideration when purchasing a home. If you need any help thinking of other things to think about, we would be happy to help.

If you are opening your home to a loved one who is elderly or your elderly family member (or friend) is living alone, there are some things to take into consideration so not only are they safe, but tasks that they need to get done can easily get done. Falling is a huge danger that the elderly have. It is estimated that as many as 5,000 people a year will die shortly after falling. That is a significant number! Keep in mind that there are about 75% fewer fall when someone can be cared for in their own home instead of a facility.

If a room is cluttered, it will be more difficult for someone to get around with a walking aid. Make sure all rooms have a limited amount of furniture and other “stuff.” Also, be careful of any rugs that have the potential to be tripped on. It would be best to remove any extra rugs in the home as well.

When it comes to the bathroom, there is a lot to take into consideration. For the bathtub, rails would be helpful to get in and out of the bathtub. A non-slip matt on the bottom of the tub would also be helpful. If possible, a walk-in shower would be the most conducive and safe. Depending on the size of a person, a toilet may be too low to the ground for comfort and safety. There are options to adapt the seat to make it higher.

When it comes to the kitchen, there is a lot that can be done! Counter tops, drawers, and shelves that are higher up would be easiest for the elderly to reach for. If cooking is still on the table and possible, a talking scale or a scale with big numbers, would be most beneficial. There is also a great deal of kitchen gadgets that can be changed out for older gadgets.

We thought that this information would be important to the ever-growing population of people who care for their elderly family members. If you have any other tips, please share them so others will be able to benefit as well.