5 Great Things about Home Ownership

Homeownership is one of life’s supreme joys.  It’s time to not just get off of the fence yet LEAP off of the fence!  Here are some reasons why:

1)      Investment:  Paying rent is like throwing money down the drain.  Rather use Courtesy loans and buy a home securing your future. Landlord’s pockets get lined and the landlord reaps the benefits of you living w/in the home and paying rent.  Although purchasing a home may come with initial costs, you will make that money back over time as the market stabilizes.  Historically, real estate appreciates approximately 4%-6% per year and experts expect the housing market will recover.  Homeownership is about the “long term” investment.

2)      Ownership:  You own the home which comes with unbelievable benefits!  You can paint and decorate as you please and make the home “yours”.  Plant trees, install a covered patio—heck, after a short read on sites like https://willshapools.com/how-much-does-it-cost-to-build-pool/ you will see how it is feasible to add a swimming pool if you’d like—this home is yours and you can do as you please (make sure to check the HOA criteria if living within a community which contains an association).  Bottom line . . . you OWN the home and you have the ability to personalize it to your liking.  Most renters are stuck with bland paint and carpet and now it’s time to let your creative juices flow!

3)      Relationships:  When renting, one tends to see neighbors come and go quickly.  Some renters execute yearly leases while others “come and go”.  There is typically less common space for apartment renters to have the opportunity to develop friendships.  People that own their homes, however, typically have walking trails, club houses, pools and alternate areas which enable getting to know your neighbors.  Neighboring home owners typically stay longer (3-5 years) which allows time to develop relationships.  Healthy relationships equal less stress.

4)      Predictability:  Obtain a fixed rate mortgage and your monthly payments will remain the same.  This will allow you as the home owner to budget and make financial plans without any guessing on how much it will cost to live in the future.  Adjustable rate mortgages, on the other hand, provide a payment amount which is based upon the rise and fall of current interest rates.

5)      Great Deals:  It is such a great time to purchase a home!  Interest rates are hovering at historic lows (at or around 4%).  Home pricing is also at historically low rates.  These two factors equal enormous savings for those looking to purchase a home.  If you are currently renting yet have a steady income, call me today to discuss your options:  208-869-3469

Owning a home is still the “American Dream”.  Get off of the fence and into a home (your own home) today!

Amid increasing concerns over the economic stability of the world, the average interest rate for conventional fixed rate mortgages (3o year) decreased below 4% for the first time in recorded history.

Averaging 3.94% for a 30 year loan, if you read more here, the current interest rates make purchasing a home very worthwhile.  A year ago today rates averaged 4.27%.

The fixed rate mortgage for the term of 15 years also decreased to the lowest level in recorded history for the 6th consecutive week–averaging 3.26%–down 3.28% from a week ago and 3.72% from 1 year ago.

The adjustable rate mortgage averaged an interest rate of 2.96%–down from 3.02% as of the 1st of October.  A year ago today the adjustable rate mortgage was holding steady at 3.47%.

On the flip side, interest rates increased for the 1-year ARM loan due to the Federal Reserve building their coffers from the 400 billion short term Treasury securities which serve as a “benchmark” for these particular types of loans.  The 1-year treasury ARM currently sat at 2.95% this week yet still lower than last years rate of 3.4%.

Growing concerns over global recession has caused a decrease in online loans canada interest rates, something that bids well for a loan-seeker.  Fortunately, consumer spending increased by .2% within the month of August yet personal income decreased 0.1%–the 1st decline since 2009.
(Source: www.zippaloans.com).

Also read about: Instant Bad Credit Loan.

Bank Owned Boise Home for Sale (HUD)

12242 W Oldham Ct  Boise, ID  83709

Incredible bank owned Boise home for sale located within an established Edgeview Estates Community—nicely situated near I-84 along with being just a hop-skip and jump to St Lukes and St Al’s.  An approximate monthly payment for this home bank owned Boise home for sale at the asking price would be at or around $800 monthly—why rent?!?  The interior of this Boise home for sale contain features upgraded amenities throughout and also contains a separate mother guest quarters for guests or an alternate master suite.  The master suites has dual vanities along with a plethora of closet space.  The back yard is a delight and contains a water feature along with a covered patio—perfect for entertaining!  The secluded cul-de-sac location of this bank owned Boise home for sale is private and has limited traffic.

The seller of this bank owned Boise home for sale may provide a closing cost credit of 3.5% to be included with the purchase of this home.

Please visit https://trustidaho.com/search/#PropertyID=40279754 to view detailed information on this bank owned Boise home for sale.

Interested in obtaining information on all Boise bank owned homes for sale?  I will forward a list of available bank owned Boise homes within 24 hours upon obtaining your request.  Please call me at 208-869-3469 or send your request to:  [email protected]

Call me today for additional information or to view the interior of this bank owned Boise home for sale!  208-869-3469 . . .

Get A Lower Mortgage Interest Rate

Good credit scores are important when obtaining financing for the purchase of a home.  Mortgage lenders determine interest rates and your particular risk by reviewing your credit scores, current credit available and credit history.   This said, it is worthwhile to know your credit rating in order to gauge the approximate interest rate that would be provided to you.  Also, it is wise to remove any derogatory filings from your credit prior to interviewing mortgage bankers and brokers.  Just a few tweaks can alter the interest rate provided and save you thousands of dollars over the course of the loan. If you feel there is something on your credit report that is not from you then you can dispute errors on your credit report here.

Six items that will help ensure your credit is healthy are as follows:

Late Payments:

Late payments and delinquencies are the biggest factors that determine your current credit score and, in turn, the mortgage rate that will be offered.  Late payments and delinquent balances make up approximately 35% of an individual’s overall credit score.

Late payments and delinquent balances will affect the type of loan and interest rate offered. You may want to get Everyday Loans to make sure you pay your mortgage. If your credit shows delinquent balances owed  then it will be wise to pay off the balances prior to applying for a home loan. Get OnQFinancial va home loans assistance if you are eligible to apply for it.

Debt to Income Ratios:

Along with reviewing your overall credit rating, a mortgage lender will also review how much credit you have and how much credit you are currently using.  For example, if you have accredit card with a credit limit of $1,000 and you consistently have a $950 balance then a mortgage lender may feel that you are “stretched” on your personal finances.

Rule of thumb:  keep the amount you owe  40% or under your current credit limits.  Doing so will show that you are not stretching your finances too thin and will provide your mortgage lender confidence that you can afford a new monthly payment.

Sent to Collections:

It is important to review your credit report in order to ensure that you have no collections reported.  If so, make certain to remediate the collection prior to applying for a home loan.  In order to purchase, a mortgage lender will require that all collections are paid in full.

Bankruptcy, Judgments or Liens:

Most should be aware of any bankruptcies, judgment of liens that may have been placed against you.  However, it will be important to review your credit report to confirm prior to seeing a mortgage lender.  The public records section located w/in your credit report will supply this particular information. (Source: www.checkpeople.com/public-records)

Closed or “never opened” credit accounts:

Ensure that you scan your credit report to ensure that any old or unused credit account are closed and that the closed dates are correct.  It is also important to make certain that you do not have any credit accounts that you do not remember opening.

Credit Inquiries:

Upon viewing yoru credit report you will notice a section which discloses who has been viewing your credit rating and report.  “Hard” inquiries (car loans, credit card application, etc) will typically affect your credit rating (albeit minimally).

A “soft” inquiry is when an entity views your credit report to verify that you have credit.  Examples of “soft” inquiries consist of:  home rental applications, mortgage applications and other types of credit inquires in which you do not need to obtain credit.  Soft inquiries typically do not affect credit scores.

Reference: https://unifycrm.com/solutions-page/marketing/.

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