Helpful Tips
Escrow Accounts: What’s the Deal?
January 4, 2012 by WelcomeHomeNWI · 1 Comment
Does your escrow account ever cross your mind? Probably not. But forgetting to monitor it can lead to lost money and a big headache.
If you have a home mortgage escrow account, you pay one-twelfth of your annual property taxes and home insurance costs as part of your monthly mortgage payment.
You will likely find it so hard, you don’t even think about what you’re paying into this de facto savings plan. But if you remain ignorant of your rights and responsibilities, you could lose money, add extra fess to your loan, or end up going mano a mano with your insurer or local government.
Escrow accounts: lenders love them; you might not
As handy as they are, you’ll find some significant hitches:
- You lock up your money before your tax and insurance payments are due, since your lender is taking the money out each month, often long before the tax payment is actually due.
- Your lender usually doesn’t have to pay you interest on your escrow account—it varies by state.
- Your lender may screw up paying taxes or insurance, and even though it has to fix mistakes, you have to make the time and effort to follow up.
- There may be tax advantages to timing your property tax expenses—but you can’t do that if you’re paying a flat fee in escrow each month.
But your lender may insist on an escrow account because it:
- Helps guarantee your insurance and taxes will be paid.
- Ensures your lender will get the first claim on your house if you default, ahead of the local government.
In fact, your lender may do you the honor of charging you a flat fee for opting out of an escrow account, or it will add 0.25% to 0.5% to the loan amount if you decline to use an escrow account.
How to manage your escrow account
Your lender has to give you an annual escrow account statement and refund any available balance when you sell your house or refinance your mortgage. Check your escrow account statement carefully:
- Make sure everything adds up. “If I have my escrow statement, my property tax bill, and my homeowner insurance declaration page, and everything matches up, then I’m fine,” says Debbie Siegel, president of Westchester Mortgage in Newton, Mass.
- Check the size of the escrow account. Lenders are allowed to keep a reserve of no more than two months in payments in most states, and in some situations it’s even less. Your REALTOR® or lawyer can give you the skinny in your case.
- Contact your lender in writing if you find a problem in your escrow account. If your lender missed an insurance payment, it should pay any late fees as long as your mortgage payments are current, according to the U.S. Department of Housing and Urban Development. If your insurance is canceled as result of your lender’s late payment, you can sue your lender.
- Know your rights. Your lender must acknowledge your letter within 20 days and try to fix your problem within 60 days. If you’re still not satisfied, file a complaint with HUD.
Don’t worry, however, if your escrow account balance is temporarily negative. It’s probably due to a recent increase in your taxes or insurance. Your lender will pay your taxes and insurance, although you will need to reimburse your lender for the shortfall.
A final word: Usually basic home owners insurance will be paid out of an escrow account. If you have extra coverage for your original Matisses, for example, you may need to pay that premium directly to your insurer.
By: Susan B Weiner
Published: October 22, 2010Susan B. Weiner has written on financial topics for Bottom Line/Personal, Financial Planning, Wealth Manager, and other national publications for more than 15 years. She learned firsthand that when your house combines two lots, your escrow account may initially fail to pay the tax bill on the second lot.
Visit houselogic.com for more articles like this. Reprinted from HouseLogic with permission of the NATIONAL ASSOCIATION OF REALTORS® Copyright 2011. All rights reserved.
Snow Shoveling: Tools, Techniques & Tips to Save Your Back
December 28, 2011 by WelcomeHomeNWI · 1 Comment
Shoveling is hard enough. Don’t compound the drudgery with the wrong shovel and bad shoveling techniques, both of which can put a serious strain on your back and even your heart.
When buying a new snow shovel, common sense says that the larger the shovel scoop, the quicker the work. But that doesn’t mean you should automatically shop for the biggest bucket. Snow, particularly wet snow, is heavy, and the bigger the scoop, the more strain you’ll put on your neck, shoulders, and back.
Keep the dimensions moderate. A good size for most situations is 18-22 inches wide.
Material of choice
- High-strength plastic shovels are strong, lightweight, and easy to use. Because they’re less prone to freezing, they release snow better than metal shovels. However, constant scraping against concrete walks and driveways can wear out the leading edge in a single season, and they’re not good for removing ice.
- Steel shovels are hard to beat for durability — they’ll outlast all others. But they’re the heaviest models out there, and require more energy to use. They’re also the most expensive. Steel shovels are useful for removing both snow and ice.
- Aluminum snow shovels are more durable than plastic, and lighter and less expensive than steel. However, aluminum may bend when it comes in contact with a stubborn ice chunk or a crack in a driveway. Once bent, they’re difficult to repair.
Getting the shaft
It doesn’t matter how strong a shovel blade is if the shaft twists, turns, and bows while you’re trying to use it. Look for shovels with a sturdy steel, aluminum, or wooden handles. With their high strength-to-weight ratio, fiberglass and resin handles are the premium choice, although you’ll pay up to 20% more than other types of handles.
What’ll you pay?
Prices for snow shovels range from as low as $15 for a flimsy plastic model on up to $125 for a solid steel shovel with wooden or fiberglass shaft. Most good-quality shovels, however, fall in the $30 to $50 range.
Ergonomic ease
The snow shovels with the funny-looking Z-shaped shafts are billed as “ergonomic.” They’re designed to ease the strain on your lower back by reducing the amount of bending you’ll do while scooping snow. Prices for well-built ergonomic shovels range from $25 to $75.
Another version includes a large wheel attached to the handle. The wheel supports all the weight of the snow and acts as a fulcrum for lifting snow and helping you move it out of the way. You’ll pay $130.
When push comes to shove
When it comes to physical exertion, it’s always better to push the snow rather than lift it. Push-type snow shovels or plows are great for driveways and walks where you can simply shove the snow off to the side.
Because snow pushers are large in size — anywhere from 24 to 36 inches wide — they aren’t great for when the snow is deep or has to be thrown over a snow bank. Make sure the width of the snow pusher isn’t wider than your narrowest walkways.
Snow pushers and plows usually have large, U-shaped handles. Expect to pay $25 for a plastic 24-inch plow and up to $80 for 30-inch heavy-duty aluminum models.
Safety first
It isn’t just a myth that many people get injured from the simple act of shoveling snow. In fact, according to a study by the Center for Injury Research and Policy, there are more than 11,000 medical emergencies each year related to shoveling snow.
The study found that just two minutes of shoveling snow can stress your cardiovascular system and raise heart rates past recommended levels. Singled out for blame: the non-ergonomic design of many snow shovels.
To reduce the risk of injury, the American Academy of Orthopedic Surgeons (AAOS) suggests you do the following:
- Check with your doctor to make sure you’re healthy enough to shovel.
- Dress appropriately in layers of light, water-repellent clothing. Don’t forget the hat, gloves, and slip-resistant boots.
- Clear snow early and often. It’s easier to remove large snowfalls in multiple phases than all at once.
- Warm up before starting. Stretch or perform light exercise for 10 minutes before shoveling.
- Pace yourself, take frequent breaks, and stay hydrated by drinking water throughout.
- Push, rather than lift, the snow whenever possible.
- When lifting snow, bend at the knees with a straight back.
- When moving snow, walk and dump it as opposed to throwing it.
Alternatives include safely using a snow blower or hiring a snow-removal contractor. When doing the latter, the Better Business Bureau (BBB) recommends that you get multiple estimates, understand the difference between per-season and per-incident pricing, discuss what’s included (shoveling the front walk?), request references, and get it all in writing.
By: Douglas Trattner
Published: December 15, 2011Douglas Trattner has covered home improvements for HGTV.com, DIYNetworks, and the Cleveland Plain Dealer. He lives in a 1925 Colonial.
Visit houselogic.com for more articles like this. Reprinted from HouseLogic with permission of the NATIONAL ASSOCIATION OF REALTORS® Copyright 2011. All rights reserved.
LED Holiday Lights: 6 Need-to-Know Tips
December 1, 2011 by WelcomeHomeNWI · Leave a Comment
Should you chuck all your good old holiday light strings and buy new LED holiday lights? Here’s how to decide.
1. LED holiday lights save you money. LED lights use at least 90% less energy than traditional holiday lights, according to the U.S. government’s Energy Star program.
That results in a $50 energy savings for the average family during the holidays, says Avital Binshtock of the Sierra Club in San Francisco.
Put it into perspective: The amount of electricity consumed by one 7-watt incandescent bulb could power 140 LEDs—enough to light two 24-foot strings, says Energy Star.
2. But LED lights typically cost more than old-fashioned holiday lights.
- GE 100-bulb string of Energy Star-certified LED white lights: $18.97 at Lowe’s
- GE 100-bulb string of conventional white lights: $8.97
But shop around because a growing number of retailers are offering sales on LED holiday lights and, if you can’t find a sale before the holidays, you can certainly find one after. Plus, prices will surely go down as these lights gain traction.
3. LED holiday lights last and last. LED bulbs can keep your season bright for as long as 100,000 hours, says Cathy Choi, president of Moonachie, N.J.-based Bulbrite, which manufactures LED and regular bulbs. That’s substantially longer than the life of your old holiday light strings.
4. You can string a BIG strand of LED lights. Safety wise, you shouldn’t connect more than three traditional light strings, but you can connect up to 87 LED holiday light strings, totaling a whopping 1,500 feet, Choi says. So blow your neighbor’s display away by cocooning your house in lights:
- You won’t have to buy as many extension cords.
- You can take your holiday lighting display further away from the outlet.
5. LED lights reduce the risk of fire. They stay cooler than incandescent bulbs, according to Energy Star.
6. How about that hue? Some people stick with their old lights because they don’t like the brighter hue that white LED holiday lights emit. But Choi says manufacturers now offer a “warm white” bulb that more closely mimics the glow of an incandescent light. Be sure to read the label to choose a bright or warm white and to ensure what you’re purchasing is Energy Star-certified.
Colored and color-changing LED holiday lights are more vibrant than conventional lights, making your display easier to see from the street, Choi says.
By: G. M. Filisko
Published: December 10, 2010G.M. Filisko is an attorney and award-winning writer who has survived several closings. A frequent contributor to many national publications including Bankrate.com, REALTOR® Magazine, and the American Bar Association Journal, she specializes in real estate, business, personal finance, and legal topics.
Visit houselogic.com for more articles like this. Reprinted from HouseLogic with permission of the NATIONAL ASSOCIATION OF REALTORS® Copyright 2011. All rights reserved.
Laundry Room Storage: 5 Naked Truths
November 27, 2011 by WelcomeHomeNWI · 1 Comment
Locate your washer and dryer as close to bedrooms as possible, and then make supplies a snap to find with these laundry room storage ideas.
1. Make space for your washer and dryer.
Put your laundry room or area near bedrooms where you generate the most laundry so you can minimize steps and clothes clutter. To carve out space for a laundry station inside a bathroom or hall closet, you’ll need:
- Electric outlets. Electric dryers require a 220-volt dedicated outlet. Cost: $300 to $1,000, professionally installed.
- Plumbing. The washer needs hot and cold water connections as well as a drain or a hose fed into a standpipe. All dryers require a vent to the outside to exhaust heat from the drum. Gas dryers require a gas line. Cost: $300 to $550.
- Space requirements. For a stackable washer and dryer, provide a minimum space of 40 inches deep and 32 inches wide. A side-by-side washer and dryer need space measuring at least 40 inches deep and 56 inches wide.
2. Add cabinets for better laundry room storage.
De-clutter by keeping laundry room necessities out of sight.
- Drawer units. Front load washers and dryers are easy on your back when elevated with base pedestals, which offer drawer storage. Pedestals usually are made by individual manufacturers to fit their brand. Cost: $110 to $265.
- Stock cabinetry. Home centers offer stock kitchen cabinetry that you can install above and/or beside the washer and dryer. For a laundry near the kitchen, select cabinetry that complements existing units. Cost: $130 to $350 per cabinet.
- Freestanding laundry room storage. To keep clutter out of sight behind doors, position a freestanding cabinet between or beside the washer and dryer. Some armoires feature hanging space inside.
- Extras. Equip a stock or freestanding cabinet with a fold-down ironing board and a holder for the iron and related supplies.
3. Provide laundry room storage bins, baskets, and more.
- Bins. Canvas or solid metal bins keep small items corralled and out of sight inside a cabinet or on open shelves. Wire baskets make it easy to inventory supplies while keeping similar items together.
- Lined baskets. A canvas lining provides visual appeal and prevents wicker from snagging folded linens or other items you store inside.
- Pull-outs. Rather than bending and rooting around in the back of a base cabinet, equip it with a pullout hamper, wastebasket, or shelves.
- Sorters and hampers. You’ll find a variety of bins for storing and sorting soiled laundry, including canvas versions with an overhead rod for hanging clothes.
4. Include easy-access surfaces.
- Open shelves. Melamine or wire shelves above or beside the washer and dryer provide a good spot for quickly accessing often-used supplies.
- Countertops. A countertop on base cabinets or installed above a front-load washer and dryer (that aren’t elevated on pedestals) provide a place for folding clothes.
5. Create space for hanging clothes.
Include a spot to hang clothing fresh from the dryer or to drip dry. For example, stretch a pole between tall cabinets flanking the washer and dryer. For compact laundry room storage spaces, look for collapsible hanging units or retractable clotheslines.
By: Jan Soults Walker
Published: October 01, 2010Nationally published home improvement writher Jan Soults Walker and her husband, Dave, once built a window seat with flanking bookcases into a kitchen. It remains one of their favorite storage projects to date.
Visit houselogic.com for more articles like this. Reprinted from HouseLogic with permission of the NATIONAL ASSOCIATION OF REALTORS® Copyright 2011. All rights reserved.
Five Tips for Stress-Free Holiday Returns
November 25, 2011 by WelcomeHomeNWI · 1 Comment
To ensure that recipients are happy with holiday gifts, millions of Americans will rely on gift receipts to enable loved ones to return or exchange a gift seamlessly when the holidays are over. According to NRF’s 2009 Holiday Returns Survey, 58.6 percent of shoppers said they enclose a gift receipt most of the time or some of the time when giving a gift. The survey also found that 87.9 percent of shoppers feel that retailers’ return policies are fair.
“Whether it’s a toy, an appliance, a DVD or a sweater, gifts of all shapes and sizes can be easily returned when a gift receipt is attached,” said Tracy Mullin, President and CEO of the National Retail Federation. “In this economy, no one wants to worry that a present will be a duplicate, or go unused, so many people are relying on gift receipts to make the returns process easier.”
Although gift receipts make returns easy, many people didn’t need to return a thing last holiday season. According to the survey, more than two-thirds (67.1%) of gift recipients said they did not return any gifts last year, up from the 65.2 percent who went sans returns in 2007.
NRF’s tips for stress-free returns after the holidays:
1. Know the retailer’s return policy before you buy. Most retailers have return policies
prominently displayed, especially at this time of year. Gift-givers should read and remember them. If policies are not clearly displayed, ask a sales associate or a manager to explain them to you. Most retailers also outline their return policy on their website.
2. Save and file all receipts! Receipts are still the key to hassle-free returns. Some retailers will allow consumers to exchange merchandise without a receipt, but oftentimes will only provide merchandise credit for the lowest markdown-price at which the item was sold during the holiday season. Make sure to provide the recipient with a gift receipt to save hassle after the holidays.
3. Provide all original packaging and all parts (including tags) when giving a gift. Some retailers won’t accept returns unless the item is in its original package. If you plan to take back a gift after it is unwrapped, resist the urge to open it or play with it. No one wants to buy someone else’s merchandise.
4. Make online returns easy! Returns are a part of shopping, no matter where you buy. In addition to the other rules of returns, here are a few things to find out before you purchase a gift online:
- Know the process: Who pays for shipping the return–you or the merchant? Some merchants will pick up the delivery charges for exchanges, but not for returns; others offer free return shipping on every return.
- Where to make returns: Does the retailer have a physical store, and can returns or exchanges be made there? Make sure you have the correct address if you need to mail returns back to the company. Some merchants have offsite service centers to handle returns that may be in a different location from where the merchandise is sent.
5. Be patient. Remember, the week after Christmas is one of the busiest weeks of the retail year. With people’s frustration high and tolerance low, be patient when returning merchandise.
By: Kathy Grannis www.nrf.com/holidays
Published: December 8, 2009The NRF 2009 Holiday Consumer Intentions and Actions Survey was designed to gauge consumer behavior and shopping trends related to the winter holidays. The survey polled 8,692 consumers and was conducted for NRF by BIGresearch, November 3-10, 2009. The consumer poll has a margin of error of plus or minus 1.0 percent.
BIGresearch is a consumer market intelligence firm that provides unique consumer insights that are gathered online utilizing very large sample sizes. BIGresearch’s syndicated Consumer Intentions and Actions survey monitors the pulse of more than 8,000 consumers each month to empower its clients with unique insights for identifying opportunities in a fragmented and changing marketplace.
The National Retail Federation is the world’s largest retail trade association, with membership that comprises all retail formats and channels of distribution including department, specialty, discount, catalog, Internet, independent stores, chain restaurants, drug stores and grocery stores as well as the industry’s key trading partners of retail goods and services. NRF represents an industry with more than 1.6 million U.S. retail establishments, more than 24 million employees – about one in five American workers – and 2008 sales of $4.6 trillion. As the industry umbrella group, NRF also represents more than 100 state, national and international retail associations.
6 Tips for Choosing the Best Offer for Your Home
November 8, 2011 by WelcomeHomeNWI · 1 Comment
Have a plan for reviewing purchase offers so you don’t let the best slip through your fingers.
1. Understand the process
All offers are negotiable, as your agent will tell you. When you receive an offer, you can accept it, reject it, or respond by asking that terms be modified, which is called making a counteroffer.
2. Set baselines
Decide in advance what terms are most important to you. For instance, if price is most important, you may need to be flexible on your closing date. Or if you want certainty that the transaction won’t fall apart because the buyer can’t get a mortgage, require a prequalified or cash buyer.
3. Create an offer review process
If you think your home will receive multiple offers, work with your agent to establish a time frame during which buyers must submit offers. That gives your agent time to market your home to as many potential buyers as possible, and you time to review all the offers you receive.
4. Don’t take offers personally
Selling your home can be emotional. But it’s simply a business transaction, and you should treat it that way. If your agent tells you a buyer complained that your kitchen is horribly outdated, justifying a lowball offer, don’t be offended. Consider it a sign the buyer is interested and understand that those comments are a negotiating tactic. Negotiate in kind.
5. Review every term
Carefully evaluate all the terms of each offer. Price is important, but so are other terms. Is the buyer asking for property or fixtures—such as appliances, furniture, or window treatments—to be included in the sale that you plan to take with you?
Is the amount of earnest money the buyer proposes to deposit toward the down payment sufficient? The lower the earnest money, the less painful it will be for the buyer to forfeit those funds by walking away from the purchase if problems arise.
Have the buyers attached a prequalification or pre-approval letter, which means they’ve already been approved for financing? Or does the offer include a financing or other contingency? If so, the buyers can walk away from the deal if they can’t get a mortgage, and they’ll take their earnest money back, too. Are you comfortable with that uncertainty?
Is the buyer asking you to make concessions, like covering some closing costs? Are you willing, and can you afford to do that? Does the buyer’s proposed closing date mesh with your timeline?
With each factor, ask yourself: Is this a deal breaker, or can I compromise to achieve my ultimate goal of closing the sale?
6. Be creative
If you’ve received an unacceptable offer through your agent, ask questions to determine what’s most important to the buyer and see if you can meet that need. You may learn the buyer has to move quickly. That may allow you to stand firm on price but offer to close quickly. The key to successfully negotiating the sale is to remain flexible.
By: G. M. Filisko
Published: February 10, 2010G.M. Filisko is an attorney and award-winning writer who has survived several closings. A frequent contributor to many national publications including Bankrate.com, REALTOR® Magazine, and the American Bar Association Journal, she specializes in real estate, business, personal finance, and legal topics.
Visit houselogic.com for more articles like this. Reprinted from HouseLogic with permission of the NATIONAL ASSOCIATION OF REALTORS® Copyright 2011. All rights reserved.
Season Finale At Hobart Indiana’s Biggest Tourist Attraction
October 25, 2011 by Steve Cardwell · 2 Comments
If you still need a pumpkin for your Halloween display, or have a sudden urge to pick your own apples for that turn-key hand-crafted pie, these are just a few of the activities you can cross off your 2011 bucket list at Hobart Indiana’s famous County Line Orchard. But as the season winds up in a final frenzy of harvest activities, the end is near–at least until next summer–because October 31 is the last day for this year
The enormous new authentic post-and-beam timber frame barn has been a huge hit in attracting visitors from across Northwest Indiana and handling the increased crowds of fun-seeking families. All week long school buses line up in the parking lot bringing kids on field trips. And weekends have live entertainment and ramped-up assortment of outside food vendors.
Traveling troubadour, and a favorite of the author, Dave “Hutch” Lymon was playing from the barn’s balcony loft level during a recent visit. And throughout the season, a long list of name local talent has been playing at the outdoor stage.
So what is all the buzz about? Some of the activities at the Orchard include guided tractor rides through the operating orchard farm, and similarly, a toddler train for the kids. There is a corn maze (or do you say Maize Maze?). You can pick your own pumpkin from the Pumpkin Patch, and likewise pick your own apples or, if you are old-fashioned, buy them prepackaged. There is a picnic area where both families and mid-sized groups are all accommodated. There is a gift shop with country themed novelty items and apparel for sale. But it is the combination of the retro and the modern features that make the County Line Orchard such fun. There are no period costumes here, just regular folks.
Food is the main attraction of Harvest season. Fresh baked pies and fresh home made doughnuts are very popular. And a variety of sandwiches and hot entrees are available from the main kitchen, plus special treats such as home fries and roasted sweet corn from stalls outside. A gigantic array of private-labeled apple cider, locally raised honey, jams and jellies, sauces, marinades, and other canned goods are available from the Orchard kitchens.
Although the harvest season is nearly over, County Line Orchard is available year round for special events. Gardeners can rent private plots in the Community Garden for their own personal planting, starting in May; with some tilling services, water, and compost handling provided. The Orchard’s various indoor spaces and outdoor facilities are available as a catered wedding and banquet venue year round. So even though they will be closed for the winter, the Orchard’s facilities function for your own special gatherings year round.
Looking for Ideas to Reuse Old Items? Check out IKEA Hackers
October 22, 2011 by Cathy Mattan · 2 Comments
We love it when we find a site that helps us find ways to reuse old items, and IKEA Hackers fits the bill with creative solutions.
IKEA groupies – fans of the world’s largest furniture retailer — can’t bear to part with anything they’ve assembled themselves. So they’re sharing their repurposing ideas on IKEAHackers.net, a site that encourages recycling and reusing - values close to HouseLogic hearts.
“This site is really about a community of crazy IKEA fans,” the site says. “We hack, personalize, repurpose IKEA products into the very thing we want.”
For instance, one IKEA-ite turned a shelving unit on it side to create a low play table for her 2-year-old twins (lots of storage underneath). When the kids got a little bigger and wanted a train table, Mom screwed on four coasters to raise the table and make it portable.
“When they are done playing, we simply roll it back against the wall to have more space,” the mom says.
Another IKEA hacker made a colorful coat rack by screwing Bastis “dog butt” hooks onto an unpainted, soft wood shelf.
“I picked red, green and black to give it kind of an African/Jamaican theme, “ hacker Nick says. “The assembly is really simple, just a few screws and that’s it.”
What have you repurposed lately?
By: Lisa Kaplan Gordon
Published: October 7, 2011Lisa Kaplan Gordon is a HouseLogic managing editor and builder.
Visit houselogic.com for more articles like this. Reprinted from HouseLogic with permission of the NATIONAL ASSOCIATION OF REALTORS® Copyright 2011. All rights reserved.
Discover the Pros of Working with GVC Mortgage, Inc.
October 10, 2011 by James K Barath, CMPS · Leave a Comment
In celebration of Christopher Columbus Day, we want to help you discover the pros of working with GVC Mortgage, Inc. Not only do we have a qualified team of licensed mortgage professionals, but we also work with a great team of REALTORS throughout Northwest Indiana and the Chicago land region.
Although you may hear this often from mortgage brokers, we actually do have a committed team of mortgage professionals who have a vested interest in your home mortgage and the American Dream of homeownership. Every day we are focused on providing outstanding customer service and great mortgage products to our clients and referral partners.
Speaking of great mortgage products and the one that is most widely utillized by home buyers and homeowners in Northwest Indiana and Chicago is an FHA insured home loan. The benefits of this mortgage is that only 3.500% down payment is required for home purchases and the minimum FICO score required is 640. The difference that GVC Mortgage, Inc can provide is that we can go as low as 620 FICO score with compensating factors, as well as higher debt-to-income qualfying ratios. You can get more information at yourFHAhomeloan.com.
In the same manner as FHA insured home loans, we also have the capability to do the standard FHA 203(k) and FHA 302(k) streamined renovation home loan. The benefits of this program allows you to roll into a single FHA fixed rate home loan the costs of home renovations and repairs. We also participate in the FHA $100 Down program that allows you to buy a HUD REO for as little as $100 down with no new appraisal required.
It should be noted that we are not just about FHA insured home loans. We also love our US Veterans and the liberties that they safe guard daily. The best way we know how to support them is to educate them on their earned benefits and how they too can become homeowners. VA offers up to 100% financing with no monthly mortgage insurance to eligible US Veterans. If you’re a US Veteran, you can learn more about VA Guaranteed home loans at homeloanforveterans.com.
Another great home loan option that allows up to 100% financing is offered by USDA Rural Development through their USDA home loan program. If the home is eligible for USDA home loan financing as determined by USDA and the buyer’s household income does not exceed the income limits, a USDA guaranteed home loan can offer a more affordable home loan payment than even an FHA insured home loan. If you would like more information on USDA guaranteed home loans, simply visit yourUSDAhomeloan.com.
We are your home for government home loans. Want to know if you can refinance your home or buy a new home? Call or text me at 512-522-7284 to discuss your personal situation and your home loan options!
