Things to Keep in Mind
6 Warning Signs
Serious defects in a home are not always easy to spot. When buying a new home, Using a Certified Home Inspector Can help make your Decision less stressful when keeping the following in mind.
Leaks are the most common problem with roofs. They are hard to detect from outside. However, from inside an attic, you can often see water marks where leaks may be.
Ensure both the fresh water in and sewage out are functioning well.
There is enough power to service all your appliances and equipment you use on a daily basis and then some. Making sure the electrical system is safe and does not present a fire hazard.
Heating and Cooling Systems
Inspect the heating and air conditioning systems in any home you are considering purchasing. Are they energy efficient, in need of updating or repair? These are some of the questions that you should ask yourself.
Bad Paint and Signs of Rotting
The paint inside and outside the house can reveal a lot about the condition of the underlying material.
Cracks and other important signs
Cracks in walls, doors not closing properly and uneven floors can be potential signs of a problem with the foundation.
5 Costly Errors
Home Buyers in the Excitement of Purchasing a New home run the rest of Costly Mistakes
Not knowing what they can afford before making an offer.
The best way to avoid this is to get pre-approved for a mortgage so you know exactly how much you can afford.
Not knowing who the agent represents.
Unless an agent is working as your buyer representative, they represent the seller. Many people don't realize this.
Choosing the wrong mortgage.
A wrong mortgage could potentially cost you more in penalties and interest. A Licensed Mortgage Representative can help you through the process.
Not finding problems with the home before buying it.
Have a professional inspector look at the home before buying is a wise choice. It could mean not having to make a unexpected repair after the purchase.
Not understanding how their credit can impact their ability to purchase or refinance a home.
Get a mortgage professional to help you go over and prepare your credit file before you buy a home.
Save on Interest
Save Thousands of Dollars in Interest and Pay Your Mortgage off Faster
These are a few tips to save money in interest and get you mortgage-free sooner.
Round up your monthly payment
The results of this simple strategy can save you a fortune and drastically reduce the length of your mortgage.
If your monthly mortgage payments were $734 dollars a month. Round it up to $800 per month the extra $66 goes directly to the principal amount saving you in interest and taking time off your mortgage.
Increasing Your Payment Frequency
Paying Weekly or Bi-Weekly and or ACCELERATED Payments
You can save interest by increasing your mortgage payment frequency. When you select an accelerated weekly or bi-weekly payment option, you are essentially making the equivalent of one additional monthly payment each year which will help pay off your mortgage faster.
Make Annual Lump Sum Payments
This is an easy way to save money and shorten the life of your mortgage. Most Mortgages allow for a lump sum payment on the anniversary date of the mortgage.
Choose a 15 Year Mortgage
If you can afford it, choose 15 year mortgage instead of a 30 year.