Furnishing Your Home on a Budget
By Mike Stotz, Mortgage Loan Officer
For many first-time homebuyers, the thought of furnishing a new home often gets lost in the excitement of the homebuying process. They have saved and budgeted for years to be able to come up with enough money for their dream home. A good loan officer will discourage the homebuyer from making any major purchases until after the loan closes, as to not jeopardize the mortgage approval. So how do you furnish your new home with depleted funds without going into debt? Here are a few tips:
Rank Purchase by Priority
Assess your current inventory to see what ...
Ways to Pay Off Your Mortgage Early
By Jim Cook, Sr. Mortgage Loan Officer
I want to pay off my mortgage loan early. What should I do? Owning your home free and clear is a pretty big life goal for most of us and represents a satisfying accomplishment once done.
Before we talk about strategies you can employ to make this happen, let’s make sure this is the most prudent use of your money. It’s likely that if you have other consumer credit debt, those interest rates are higher than the rate on your mortgage loan. You may want to knock down higher-interest installment loans or revolving account balances ...
What Home Insurance Actually Covers
By Bonnie Pappas, Mortgage Loan Officer
A standard homeowner’s insurance policy is made up of coverages that may help pay to repair or replace your home's structure and belongings if they are damaged by certain acts, such as fire or theft. It may help cover costs if you accidentally damage another person’s property or if a visitor is injured at your home. It can also include damage caused by household pets. Insurance for condominiums generally covers your belongings, liability, and certain parts of the interior structure as defined by the condominiums by-laws or lease.
What Does Homeowners Insurance Cover?
Your place of ...
Using Your Tax Refund for Home Updates
By Alan Crawford, Mortgage Loan Officer
So you are getting money back this year form the IRS? Congratulations! Now what to do with that refund – take a vacation? Pay bills? Save it? Why not spend it on home improvements?
People spend a lot of time in their homes, especially during Michigan winters, so why not make it better? Look around and think about which projects would make the most sense based on the property value return and your comfort level. Don't forget to look at the outside too. How are those gutters? Do you have peeling paint? Do you have a ...
Listing Techniques that Help Sell Homes
By Ryan Mennemeier, Mortgage Loan Officer
At some point, we have all read an online listing for a home or property. Think about the last time you checked out a property online and just wished you could conduct a walkthrough right after reading the listing. What was it about that particular listing that grabbed your attention over the others? Aside from pictures (which make a difference as well), here are some key factors that will stand out and help a listing appeal to buyers.
Use Your Vocabulary
There are many words that can be used to increase the effectiveness of an online listing. ...