5 Tips for the First Time Home Buyer

Jul 13 2020 Published by under Uncategorized

Buying a home is a big step in your life and should be a very exciting time. Unfortunately, many individuals rush into buying a home with out considering the implications is has on their future. If you’re considering making the move to own it’s important you weigh all the options, and consider what if anything will affect the feasibility of you’re purchase. If this is you’re first time in the housing market consider the following before you make your big move.

  1. Get Your Finances in Order

    Have a lot of debt racked up? If thats the case, you may want to play catch up before you even think about buying a home. Bad credit is bad news for those who want a buy a new home. In most cases you will need to get a mortgage before you buy and this means your credit will be under scrutiny. Start getting acquainted with your credit score and begin fix the problems well before you apply for a mortgage.

  2. Think about the Future

    If you have a job or other obligation that may require you to move or travel for extended periods of time you want to think twice about rushing into the housing market. Buying a house is a commitment that will tie you down to a particular location for at least a few years. It’s not easy or economically feasible to pack up and sell your home at the drop of a hat.

  3. Educate Your Self

    As a first time home buyer one of the worst thing you can do is go into the market unprepared. Familiarizing your self with words and phrases that are used will allow you to better comprehend the market. A better understanding of the home buying process will enable you to make a well educated decision when it comes to you’re final purchase. Entering the market blindly can turn you’re home buying dreams into a nightmare.

  4. Be Rational

    We all want to live in the home of our dreams. Unfortunately, like most things in life, the housing market must be approached from the bottom up? Renting is the start of the home owners journey. With your dream home serving as the final destination you will most likely need to take a few stops on the way there. The logical step is to buy a house you can afford not one that lands you in economic turmoil. Consider your first home an investment that you can improve upon over time. Once the home is improved you can sell it and bring yourself one step closer to your dream home. Buying out of your league can be a huge problem so set a budget and find a home within your means.

  5. Ask For Help

    Don’t be determined to have a go at it alone. Buying a home is a complicated process and sometimes it really helps to have someone walk you through it step by step. Agents are more than willing to help you look through home listing, find what your looking for, and ultimately take you from start to finish.

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Top 7 Home Improvement Tips You Should Know

Jul 13 2020 Published by under Uncategorized

Do you have a condo or an apartment? If you have one, you need some home improvement tips. These tips will help you maintain your home or apartment saving you some real cash in the long run. Aside from this, it will also increase the value of your home. Read on some of our tips for improving your home.

Tackle the Important Projects

Some home repair projects are urgent. If you do them in time, you can prevent a lot of damage. But if you ignore these projects, you may end up paying a huge sum to fix the damages later on. Therefore, don’t wait for the winter to approach and get these projects done as soon as possible.

Consider Professionals

Even if you love doing DIY projects, not all home repair projects should be done by you. Some repair jobs are better left to professionals. You have to be in your limits. If you are a beginner, you should start small. If a project needs the expertise of a professional, hire a professional.

Hone Your Skills

Whether you are going to work on a small or big project, you can learn some good home repair skills. You can make use of some good resources and start off from some projects. With the passage of time, you will be able to handle bigger tasks as well.

Find Inspiration

If you want inspiration for your home repair tasks, you can head to Pinterest. Over there you can find a lot of profiles showcasing project photos along with cost estimates. This will give you a pretty good idea of how you should go about handling these chores.

Get the Tools

You can’t do all your home improvement tasks with your hands. You need to have some essential tools at your disposal. They will help you with both minor and major tasks. For instance, for plumbing jobs, you need some essential plumbing tools in your tool box. So, you should invest in some common repair tools.

Choose the Right Contractor

Finding a good contractor is as important as finding a good doctor. In other words, you may want to hire only a reliable contractor or handyman. Hiring an inexperienced professional can cost you thousands of dollars in repairs.

Save Money

If you save money on one project, you can spend it on another. What you need to know is to decide on the project that you can save some cash on. For instance, you can spend a bit more on items that can’t be replaced so easily, such as your bathtub. On the other hand, you can spend a bit less on the faucet. Another good idea is to head for a reuse center to save some cash on appliances and other stuff.

So, if you follow these simple home repair tips, you can get the projects done more easily while saving some cash. Remember: never try to do a project that you know will cost you thousands of dollars if done the wrong way. In this case, you had better look for a good professional.

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Securing VA Home Loans With Bad Credit: Tips For Approval And Qualification

Jul 13 2020 Published by under Uncategorized

For former members of the military, the challenge of adapting to civilian life can be quite acute. It is a common thing to see those who have left the military, either because their tour ended, they suffered disability or a simple decided to retire, to struggle. But when buying a home, the availability of VA home loans with bad credit means there is a financing option available to them.

The military holds a special place in the lending industry, with a variety of incentives offered to present and former members seeking loan funds for whatever reason. But securing mortgage approval from the VA depends on more than simply membership.

So, what are the criteria needed to secure approval on a VA home loan? What can be done to increase your chances, and where can they be secured from? Here are some factors that address those questions.

Qualifying For VA Financing

Those that qualify for financing from the VA are former members of the military. But that is not to say that any former member will get the green light. Securing a VA home loan with bad credit comes down to satisfying 3 key conditions.

Because those seeking mortgage approval from the VA often have incomes that are not military related, there is every chance they have suffered some bad financial experiences. The VA wants to be sure they are not supporting a major financial risk.

As a result, applicants cannot have defaulted on a loan in the previous year, cannot have bankruptcies on file within the previous 2 years and must have proof of gainful employment. Once these criteria are satisfied, then a VA home loan is on the cards.

Other Considerations

The definition of former military members is not as clear cut as it would seem, with those unable to serve because of disability included in the group – at least by the VA. As a result, currently disabled or receiving benefits can apply for a VA home loan with bad credit.

Just as with any other loan, taking steps to improve your credit scores (even marginally) can make a huge difference to the chances of securing mortgage approval from the VA. The best way to do this is to clear some existing debt, or to at least be up-to-date on credit card and other bills. It may be worth taking out some small personal loans to deal with individual debts.

The advantage when seeking a VA home loan is that with each debt that is paid off, the credit score increases and the debt-to-income ratio is improved. The ratio is the key factor in any loan application. Get that right and approval is almost guaranteed.

Where To Get A VA Home Loan

Despite the title of the loan product, a VA home loan is not actually granted by the VA. They only offer their backing to the applicant, while the mortgage provider actually provides the funding. For this reason, it is necessary to find a suitable online lender to get the best possible terms.

However, the fact the VA is willing to sponsor the applicant means the terms secured can be very good, not least because the interest rates are lower. But getting a VA home loan with bad credit usually means no down payment is needed, and the VA guarantees 25% of the mortgage too.

With a reduced level of risk, lenders are happy to grant the mortgage. Still, look out for certified VA home loan providers. These are trusted VA partners, reducing the risk of being taken advantage of, and offering a greater likelihood of mortgage approval from the VA.

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