Tag Archives: loan

6 Tips for Prepping Your Home for Sale

Selling a home can be a lot of work, with a lot of coordinated effort. All at once, you have to select a real estate agent, get your belongings ready to move to a new place, and get the home for sale in as best shape as possible.

The latter, of course, is very important. In order for your home to sell quickly and for as much money as possible, it has to be in great condition when it comes time for prospective buyers to see it. Whether in person or on a virtual tour, those buyer prospects will be scrutinizing your home.

That doesn’t need to be as daunting as it sounds. A simple-but-thorough checklist can help, so here are six tips for prepping your home for sale.

1. Sort and de-clutter

You probably hear about de-cluttering when selling a home. A house packed with stuff is unappealing to buyers, so create some space by packing away what you definitely want to bring to your new house. Sort out what you want to part ways with, and get rid of it. The sooner you start the process, the easier it will be.

2. Do a deep clean

A clean house is a nicer house in the eyes of homebuyers, which means a floor-to-ceiling cleanse is necessary. If there are things you do only every other time you clean house, do all of them this time. If you washed windows or dusted that high chandelier only a month ago, do them again. There’s no such thing as a house that’s too clean. If it requires hiring professional cleaners, it could be worth the cost.

3. Do a repairs walk-through

Completing a thorough cleaning might help you notice things in your house that need repair. It still helps, however, to do a top-to-bottom inspection of your entire home, writing down any blemishes or malfunctions. A walk-through would include looking for slow-draining sinks or tubs, loose door handles, scraped or gouged drywall, cracked wall plates, and more. Once your list is complete, you can make necessary repairs.

4. Paint what you must

Sometimes, painting must be done when you’re selling a home. Funky wall colors should be changed to neutral tones. Dingy or faded walls that don’t respond to just washing can be freshened up with a coat of paint. You might be especially surprised by how much newly painted white ceilings will brighten up a house.

5. Depersonalize the home

Homebuyers like to envision their belongings in a home, not yours. So, your wall of family photos, while endearing to you, is not going to endear your home to potential new owners. Any collections you have on display or any sports memorabilia should be packed away, too. Also, remember to remove anything you want to keep that might be considered a fixture, as buyers could ask you to include it.

5. Don’t forget the outside

Curb appeal is an important aspect of getting homebuyers’ attention, so sprucing up your home’s exterior is a near-must when selling your home. That means pruning any overgrown trees or shrubs, mowing the lawn regularly, weeding any beds, power-washing the siding, and maybe planting new flowers.

6. Set the stage

Home staging is a way to help homebuyers picture the ways a home can be used. You don’t necessarily have to hire a professional company to stage a home. You can at least somewhat do it yourself by making sure each area of the home has a specific purpose, furniture is arranged to maximize space and flow, and features that are strong selling points are highlighted. Remember to pay close attention to your home’s entryway, making it as welcoming and inviting as possible.

The bottom line

When you sell a home, it can feel like there are a lot of balls in the air. But getting ready to move and getting your home ready for sale at the same time can be a little less stressful if you follow a checklist of sorts.

How To Increase Your Chances Of Getting A Home

 

Most people consider buying a home as a great accomplishment. But searching for properties can be nerve-racking, especially for aspiring homeowners. Aside from real estate mortgage rates, you also need to think about other factors such as your monthly bills as well as your existing debts. Which is why it’s essential to choose the right home loan for your dream home. But where do you start? Here are a few pointers to help you make the right choice and bring you one step closer to your ideal home.

Beef up your savings

Depending on your loan provider as well as your preferred type of loan, you’re required to make a down payment. It usually ranges from 2.25% to 20% of the price of the property. Allocating a budget for the down payment each month will help you save enough money to pay the down payment.

Know your options

There are several mortgage options that aspiring homeowners can choose. However, each has pros and cons, too. So, if you’re struggling to come up with enough funds to cover the down payment, then it’s best to check a few of your options. A few options for qualified applicants are conventional mortgages, Federal Housing Administration Loans, and Veterans Affairs Loans.

Check for state and local assistance options

Aside from federal assistance programs, several states offer financial help to first-time home buyers. These assistance programs often provide exciting benefits such as closing cost assistance, payment assistance, tax credits as well as discounted interest rates.

Know how much you can afford

Before you start your house hunting, it’s best to know the properties that are within your price range. Using a real estate mortgage calculator can help you determine how much you can afford to spend in a home.

Check your credit history

You should also try to check your credit score when applying for a home loan. Doing so will give you an idea of whether you’ll get approved or not. It’ll also help you understand the best loan terms that’ll fit your financial health.

Determining these factors can help you choose the mortgage plan for your dream home. Don’t hesitate to ask your mortgage provider for all possible mortgage options based on your financial situation.

 

 

Overcoming Misconceptions About VA Loans: How Veterans Can Land The Home Of Their Dreams

It may come as a surprise to many that veterans can and do experience difficulties when they begin the process of purchasing a home. With VA loan options allowing for a seemingly easy “in” to the home-owning experience, what is it that the general public is failing to understand veterans’ options? Below, we’ve covered why some veterans experience trouble when it comes time to purchase a home and the common fears that plague buyers and sellers alike.

Why Veterans Experience Difficulties Purchasing Homes

Post 9/11, the way that funds have been allocated to veterans looking to purchase homes looks a little different than it once did. Veterans receiving support in the housing market now tend to be resting on the margins of homelessness and homeownership. This has led to an ever-unstable “middle” section of veterans who manage to get by, but fail to leverage VA loans successfully.

Veterans are part of a demographic that’s slowly shifting towards a much younger age range. Young people don’t purchase homes– they rent. Toss in the diversity of the current pool of veterans, and you’re looking at a group of young men and women who are likely to be saddled with the consequences of intergenerational poverty. Veterans coming home from war today are paying for the 2008 housing crash and aren’t receiving targeted assistance.

Common Fears for Sellers and Buyers Regarding VA Loans

For sellers

Offers by veterans are frequently rejected due to the copious amounts of red tape that accompany VA loans. There are often appraisal delays, which drag out the amount of time sellers have to wait to close on properties, and sellers are responsible for bearing fees that would traditionally fall to buyers.

All too often, sellers are advised by agents to become almost discriminatory towards those with VA financing. These sellers are pushed to take cash and conventional offers in order to avoid the perceived “hassle” of dealing with VA loans.

For buyers

Understandably, many buyers today feel apprehensive entering the market with a VA loan. It’s no secret that sellers and agents are beginning to shy away from offers from veterans who are relying on VA loans to purchase homes; why would veterans feel confident?

Most veterans are hesitant to give up the benefits of a VA loan in favor of pursuing more conventional funding options. While they may have a better shot at landing a home with traditional financing, the financial advantages of VA loans are tough to overlook. This leaves many buyers feeling trapped between what’s best for them and what sellers will accept.

Three Misconceptions About VA Loans

Knowledge can empower both veterans and sellers

Concerns about red tape

As mentioned previously, numerous sellers fear the red tape that’s long been associated with VA loans. They don’t want to spend extra time or money trying to close a sale– but the fact of the matter is that most VA loans close within thirty to forty-five days. The program used to involve copious amounts of snail mail, but the process has become quicker and more efficient.

Borrower qualifications are too lax

Some sellers are apprehensive that veterans approved for VA loans may not actually be up to snuff. If they can qualify for the loan so easily, who’s to say they’re actually capable of paying for their home? But the VA’s no-down-payment benefit isn’t handed out like candy. Borrowers are still required to meet the certain debt, credit, and income requirements in order to receive financing.

Sellers are saddled with fees

It’s true that in some cases, sellers will need to pony up a little bit of cash to cover fees during a sale to a VA borrower, but this isn’t always true. The only fees that need to be paid by sellers are 1% origination fees, which don’t have to be charged anyway. Veterans are not permitted to pay these fees, but lenders, title companies, and sellers can all pay them.