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A critical step in buying a home is making the down payment. And for many homebuyers, saving for the down payment can be the biggest obstacle to overcome. But how much do you really need for a down payment? Let’s take a closer look.

What is a down payment?

A down payment is the money that a buyer pays to a seller in order to secure the home purchase. Down payments are usually calculated as a percentage of the total price of a home. The remainder of the purchase price is either paid in cash or through a home loan. Most lenders require that homebuyers make some kind of down payment in order to buy a home.

Down payment requirements

While a general rule of thumb is to pay at least 20 percent of the purchase price for your down payment, this can vary by the kind of loan you receive. Here’s a look at the down payment requirements for some of the most common types of home loans:

• FHA loans – FHA loans are backed by the Federal Housing Administration. You can pay as little as 3.5 percent for the down payment on an FHA loan. But be aware that if your credit score is between 500 and 579, you’ll pay at least 10 percent for a down payment.
• VA loans – VA loans are backed by the U.S. Department of Veteran’s Affairs. In order to qualify for a VA loan, buyers must either be active members of the military or a surviving spouse. No down payment is required for a VA loan.
• USDA loans – USDA loans are backed by the U.S. Department of Agriculture. These loans are for both suburban and rural buyers who meet certain eligibility requirements such as income. USDA loans also require no down payment.
• Conventional loans – Conventional loans that follow the guidelines set by Fannie Mae and Freddie Mac require as little as three percent for a down payment.

Making a larger down payment

For many homebuyers, saving the money for a down payment can take months or even years. That’s what can be so enticing about loans that require a low or no down payment. Smaller down payments allow you to buy a home more quickly. However, it’s important to know that making a larger down payment has many advantages. If you make a larger down payment you’ll qualify for better interest rates on the loan. You’ll also have lower fees and a lower monthly mortgage payment. And you’ll have more equity in your home from the very beginning. Also keep in mind that any down payment less than 20 percent will require you to purchase private mortgage insurance since lower down payments mean bigger risks for the lender.

What’s the best strategy for you?

Deciding how much to pay for a down payment really depends on your unique financial situation. It’s affected by your age, your income, how much debt you already have, and how much you have saved. There are online tools you can use to determine how the down payment will affect your monthly mortgage payment. And be aware that you can use monetary gifts from family members, which can help you reach your down payment goals faster.

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Are you getting a little tired of looking at your stuff at home? Is it time for a change? Well, here’s a secret – you don’t have to leave the house or spend any money to rejuvenate your home’s style. It just takes looking at your things with a fresh perspective. Check out these tips to spruce up your home with items you already own.

Pare down

First of all, let’s start with the basics. It’s hard to love your home when it’s cluttered and untidy. Before you begin any redecorating project, declutter your home. If an item doesn’t have a use or you don’t love it, set it aside to donate later. Visual clutter makes you tune out your environment – it’s just too much to take in. When your home is tidy, then you’re able to enjoy each item more.

Switch out lamps and shades

Have you always used the same lamps in the same rooms? Why not switch it up? Take a lamp from the living room and swap it out with the one on your bedside table. You might even just switch out the shades. If you’re using lamps in pairs, but they’re different heights, then set the smaller one on a stack of books. This creates visual symmetry without being too matchy-matchy.

New uses for old things

While stools are made for sitting, that doesn’t mean you have to follow that rule. Why not use a stool for an end table? Or take one of your favorite teacups that just sits in the cupboard and use it to corral jewelry in your bedroom. And before you toss that pretty wine bottle into the recycling, why not use it to display some spring flowers from your garden?

Switch out frames

Most people have framed photos scattered around their homes. When was the last time you really looked at them? Take an afternoon and switch out all the photographs that are in the frames. It can be fun to take a little walk down memory lane by searching through your old photos or hire a photographer such as a Raleigh child photographer for new ones. You can also bring them to a custom picture framing shop to put them in customized frames and make them look new again.

Restyle your shelves

Do your shelves contain a mix of books and knick-knacks? Then spend some time restyling those shelves. First, take all the items off and give everything a good cleaning. It can be surprising how much dust can collect on shelves. Then find a new way to organize your objects so you can appreciate them more. You may even bring in new items from other rooms to showcase them.

Group similar things together

By doing a style refresh on your home, you may suddenly realize you have a collection you didn’t know you had. Maybe you like items that have elephants on them, or you tend to gravitate towards a certain color. Take these similar items and display them together, either on your shelves or in vignettes on tables. They will pack a greater visual punch when displayed together and remind you of the things you really love.

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Did you know you could shop around for a mortgage? Many homebuyers don’t realize that they have choices when it comes to lenders. In fact, shopping around can save you some serious cash. Right now, one of the best ways to shop around for a mortgage is to check out all the online lenders. But is an online mortgage lender right for you? Let’s take a look at the pros and cons.

Pro – It’s less time consuming

Applying for a mortgage can be a very time-consuming process. It can take days or even weeks to gather all the paperwork you need to apply. Applying for a mortgage online can save you a significant amount of time. Applications are generally easier to navigate and you can upload your documents directly to the website. You are able to sign documents digitally and avoid delays because of missing paperwork.

Con – It can be more difficult to get help

When you apply for a mortgage at a local bank, you have a person right there in front of you. It’s easy to ask questions when you’re face to face or only a phone call away. But when you’re applying for a mortgage online, it may be more difficult to get help. It may take time to get someone on the phone to answer your questions about the application process. And if you misinterpret a question on the application, it could result in higher fees or even your inability to get approved.

Pro – You may find lower rates and fees

Brick-and-mortar lenders have more overhead than online lenders. For this reason, online lenders may be able to pass those savings to you. You may qualify for lower rates and fees than you would with a brick-and-mortar lender. While your rate may only be a quarter percentage lower, that could mean significant savings over time.

Con – Rates are not guaranteed

While you may be enticed by the lower rates and fees, be aware that these are not guaranteed. You could be several weeks into the mortgage application process before you discover that you are not eligible for the reduced rate. If you back out, then you’ll lose valuable time. If you don’t back out, then you may find out that you’re paying much more than you originally anticipated.

Pro – Online lenders have more options

When you walk into a bank or credit union, they are going to have a limited number of loan products that they can offer to you. In some cases, you may not be able to apply for an FHA loan or a VA loan. When you work with an online lender, you’ll find more options that may not be offered by brick-and-mortar lenders.

Con – Beware of hidden fees

Online lenders stay competitive by offering consumers great deals. But be aware that those great deals often come with a lot of fine print. Closing costs can add considerably to what you’re paying for your home. Make sure to read the find print of any online loan and ask questions so that you know exactly what to expect at closing.

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Are you one of the millions of Americans who are currently working from home? If so, then it can be extremely helpful to create a space in your home that’s conducive to getting the job done. Whether you’ve been working from home for years or find yourself temporarily telecommuting, here’s what you need to do to set yourself up for success.

If you’re concerned over privacy, then also be aware that you can use a virtual office from a city like Birmingham so that you can use that address instead.

Determine your needs

What kind of work do you do? Will you need space to spread out or a specific type of equipment? Before carving out a space for your home office, make a list of everything you’ll need to get your job done. This could include office furniture for the new office space for rent, computer equipment, and storage space.

Find the space

If you don’t have a spare room in your home, then you need to get creative about where to put your space. According to commercial office fitouts Perth, you’ll want to choose a location that is as quiet and private as possible. Do you have a closet that you can covert into a workspace? This can be the perfect spot for a desk if you remove the hanging rod or shelves. Other places that can accommodate a home office include the space under the stairs, the basement, or even a large landing at the top of the stairs.

Light it up

It’s critically important to have the right lighting in your home office to reduce the strain on your eyes. In addition to overhead lighting, use a reading light on your desk. If possible, choose a location that has a window nearby so you can also enjoy natural light during the day. The natural light will help improve your mental health, which is even more important when you’re not used to working from home. Purchase some cheap glasses online to use when working to prevent eye strain.

Choose a comfortable chair

Do you have to sit for long stretches of time for your job? Then you’ll want to choose a comfortable chair. It should be the right height for your desk or table and provide both back and arm support. If needed, use a small footstool under your desk.

Make it personal

Who says your home office has to be boring? You will be spending a significant amount a time working in your home office, so why not give it a little personality? Move a plant into the area to provide warmth and a place for your eyes to rest away from the computer screen. Place a framed photo or two near your desk. Throw a pretty blanket over the back of your chair or use a decorative throw pillow to support your lower back.

Track the time

If you’re not used to working form home, then you may not notice the time passing. It’s important for your health and well being to get up several times a day. Taking regular breaks will help keep you focused when you need to be. It will also help to keep you in shape. Take an afternoon walk or do a short yoga session when you’re feeling fatigued.

Know when to call it a day

When you work from home, it can be difficult to separate your personal and your professional lives. If possible, work your normal hours and have an end to your workday. It can be tempting to always be on call when your home office is only steps away. But in the end you’ll be happier and healthier when you can spend some dedicated time each day to your home life.

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If you’re like millions of Americans who are staying at home right now, then it’s a great time to finally tackle some of those home projects you’ve been putting off. Making small repairs, being vigilant about home maintenance, and doing a deep clean of your home are great projects to tackle in the coming weeks. Here’s a list of some spring home projects that can keep you busy and potentially even reduce your bills.

Clean the fridge

This is an excellent time to take stock of what’s in your fridge and to use up your perishables. Take everything out of your refrigerator and wipe down all surfaces. Defrost your freezer if you have any ice build-up and use frozen foods that are nearing their expiration dates. In addition, vacuum the coils on the back of your refrigerator. When the coils are coated with dust or dirt they don’t operate as efficiently. You’ll save money on your energy costs and wear and tear on your refrigerator when you clean the coils regularly.

Clean the gutters

Spring is here, so this is the perfect time to get out the ladder and clean the gutters. Dirt, leaves, and other debris can clog up gutters over the winter. When gutters are clogged, water cannot pass through properly. This can ultimately result in water damage near your foundation. Spend a sunny afternoon completing this task and you’ll be good to go for the coming rainy season. Water damage can get worse over time if it is not treated properly and promptly. If you suspect you have water damage, it is important to call professional water damage restorers who can assess the situation and take proper steps to mitigate the damage. Contractors have the right equipment such as temporary scaffolding stair systems to reach higher levels of your house.

Prep your AC

Warm weather will be here soon. Is your air conditioner ready? Now is the time to get your AC ready for the spring and summer months. Change the AC filter and check hoses and connections for leaks. Clean the coils like you would on your fridge. You should also make sure that the drain pans are able to drain freely. If your AC unit is on the fritz, call an ac service company to have it fixed immediately. Alternatively, you can visit castlehomecomfort.com/service-areas/ivesdale/ to see if they service your area.

Clean the windows

There are very few people who enjoy washing the windows, but what a difference it can make! Windows need to be cleaned regularly or even replaced at some point, as they can become very dirty and grimy over the winter months. If you are considering to replace your windows, you may hire professional replacement windows services. Use a store-bought or a DIY window cleaner to remove build-up and make those glass surfaces shine. If you left the screens on over the winter, remove them and clean them with a mild cleanser. Let them air dry before putting them back.

Clean up the yard

There’s nothing like some fresh air to feel invigorated. Set aside some time to get outside and clean up your yard in preparation for spring and summer. Remove branches and leaves that have built up during the fall and winter months. Make sure your faucets and sprinkler systems are working. Clean and sharpen your garden tools and get your lawn mower ready.

Get everyone involved

With many kids home from school, now is a great time to enlist your family in your cleaning efforts. Create a list of all cleaning jobs and chores and assign them to family members. Even the youngest kids can get in on the action with age-appropriate chores. Younger kids can learn how to tidy their rooms, while older children can learn how to load the dishwasher or take out the trash. Teens can do laundry and help with cleaning kitchens and bathrooms.

If you’re like most homebuyers, then you’ll probably begin your home search online. But did you know that you could go beyond just the listings to learn more about a home? With so much information at your fingertips, it can be tough to know where to start. Let’s take a look at some of the best ways that you can research a home online.

Learn about previous owners

If you want to know more about a home’s previous owners, then you can search public records. Start by visiting the website Public Records Online Directory to get connected to your state’s website. You’ll also find information about your local Tax Assessor’s and Recorder’s offices. It’s possible to find information about previous owners, property deeds, lawsuits, and any encumbrances on the house. You may also be able to search your local public library for information about the home’s architect or contractor.

Discover the architectural style

Not sure if the home is mid-century modern, ranch, or something else? Learning more about the architectural design and style of the home can give you valuable clues about when it was built. But sometimes it can be a challenge to identify exactly what style the home is, especially if you don’t have much experience with home design. Check out this great article from the DIY Network that includes a slide show of many types of architectural styles. By comparing the house to these examples, you’ll gain a better understanding of the home you’re researching. You can also visit https://byarchitecture.com.au/ for a free design consultation.

Find information that isn’t disclosed

While home sellers are required to make certain disclosures about a home, there are some details they aren’t always legally required to share. This could include whether or not there have been any deaths in the home. If the home has been the site of a death, it could potentially decrease its value. This is an important piece of information to have as a buyer. You can research an address at diedinahouse.com to find out whether or not there have been any deaths in the home. You may also discover other types of incidents such as whether there has been a fire or if any illegal drug activity has taken place.

Explore the history

If your home has a historical pedigree, then you can also research its history online. Whatwasthere.com is a website that links Google Maps to historical photos. You can see how the street where the home is located looked in the past. If you’re lucky, you may even be able to see historical photos of the home itself. The National Archives and Records Administration (NARA) is also a great place to find historical land and genealogical records. Their database contains more than 10 million land records including land patents, farm ownership records, and land case entries.

Talk to an expert

While there’s so much you can learn from researching a home or even ranches for sale online, you’ll find out even more when you talk to a professional real estate agent. Expert agents can give you invaluable information about not only a house, but also the neighborhood, school district, and local market. Partnering with an agent takes your search to the next level and helps ensure that you find the home that’s just right for you!

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Spring is almost here, which means backyard barbecue season is just around the corner. Many homebuyers are going to be in the market for houses that have great outdoor living spaces. As the temperatures rise, they’ll imagine themselves grilling out or just sitting outside enjoying the weather after a long winter.  If you’re selling a home with a deck, then it’s essential to make it as appealing to potential buyers as possible. A custom deck builder has a wide range of high quality decking tiles available from acacia hardwood decking uk, composite and artificial grass. You may also consider having a deck coating and repair service.

Here are some great tips for staging your deck for a spring home sale.

Clean it up

First things first – it’s time to make your deck spic and span. Dirt and grime are big turn-offs, so blast them away with a pressure washer. Trim overhanging trees and bushes so they look neat and to minimize leaves and branches falling onto the deck. Stain your deck and seal it to keep it protected from the elements. I have also been using some incredible deck tape recently and it has made a huge difference to my decking, so definitely check that out. Show potential buyers that your deck is well cared for. Many buyers will want to be able to enjoy it from day one.

Tidy up garden beds

Once you’ve cleaned up the deck, spend some time addressing any overgrown weeds or tired-looking garden beds around the deck. Add a fresh layer of mulch to garden beds and keep the grass trimmed and neat. Annual flowers can add an instant pop of color to garden beds and create visual appeal. If you don’t want to plant flowers, buy potted arrangements from your local garden center. Just remember to keep watering them while your home is on the market so they continue to look nice.

Neutralize the décor

If your outdoor furniture is very colorful, then consider switching it out for something neutral. You want your deck to appeal to as many buyers as possible. It’s easier for potential buyers to envision themselves using your deck when you have a more neutral décor. Opt for cushions in muted colors. You can add some pops of color with throw pillows or pots of flowers on the deck. Another great choice for adding just a touch of color is an outdoor rug that will pull the seating area together. You may also consider adding decorative wood balusters to add accent to your deck.

Provide shade

Even if the sun hasn’t been out in months, most people don’t enjoy sitting in direct sunlight all day. When you decorate your deck for showings, be sure to provide some kind of shade. This could be accomplished with outdoor curtains or patio umbrellas you can get at https://forbrukerguiden.no/markiser-priser/. You don’t want your outdoor living spaces to be too hot or bright to enjoy. Many people increase their outdoor space by installation retractable screens and awnings.

Add lighting

Most homeowners would like to be able to enjoy their deck both in the daytime and at night. Use outdoor lighting to make your deck cozy and inviting during the evening hours. Put lanterns on steps or hang in nearby branches. Use string lights across the living area to create a welcoming ambiance. You might even scatter some flameless candles around the deck for a romantic evening look.

Set the table

If your deck has enough room for a gmg smokers grill and dining table, then set the scene for a fabulous outdoor dinner party. If you’re looking for a new outdoor grill, you may visit sites like https://grillscapes.com/collections/twin-eagles. Set the table with festive but tasteful plates, napkins, glasses and centerpieces. Show potential buyers how amazing it would be to dine al fresco on those warm summer nights that will soon be here.

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You’ve finally found the perfect home that meets all your needs. The trouble is, it’s listed as sale pending. Just what does “sale pending” mean, and should you give up hope of ever buying this house? Here’s what you need to know about homes that are listed as sale pending, and what you can do to increase your odds of being the chosen buyer.

What does sale pending mean?

If you see a home that’s described as sale pending, then it means that the seller has accepted an offer on the house. However, it’s important to understand that sale pending does not mean that the sale has closed. It simply means that the property is under contract, and all the terms of that contract must be fulfilled for the sale to go through. It also means that there’s still a chance the home could go back on the market if the inspection uncovers problems or the buyer can’t secure financing.

Can you still see a home that has a sale pending?

It’s possible that you can still get a tour of the home if there is a sale pending. After all, the home is still technically on the market. But whether or not you can see the home is mostly dependent on whether or not the seller allows it. If the seller feels confident that the sale will go through, then they may not have any additional showings. But if you’d really like to see the home, talk to your agent. They may be able to convince the seller’s agent to schedule a showing for you. Or at the very least, your agent can let the seller know that if the current sale should fall through, that you are very interested in seeing the home.

Get information about the property

Are you really serious about buying the home? Then you need to find out as much as you can about it. You will need to act quickly if the sale falls through and you want to be ready. Contact the listing agent to find out more about the home and whether or not it may go back on the market. While it may feel too aggressive, it’s important that you’re on the listing agent’s radar. You should also research the address online and acquire the property tax records. The bottom line is – you need to decide now whether or not you really want the home, so that you can be the first to jump in if the sale falls through.

Get preapproved

This should go without saying, but we’ll say it anyway – get pre-approved for a mortgage now. Shop around for the best terms, submit your financial paperwork, and get a preapproval letter from the lender. You want to show the seller you’re a sure thing, especially if the first sale fell through because of financing.

Submit a backup offer

Finally, work with your agent to submit a backup offer on the home. It can be submitted while the home is sale pending. Consider what you can do to make your offer as attractive as possible. This could include having fewer contingencies or offering more money. Just be sure that you are comfortable with the terms of the deal. Stay in touch with the listing agent until the sale is finalized or it falls through so that you’re first in line.

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The real estate market is starting to heat up for the spring season. That means in the coming months many people will be packing up and moving to a new place. If you’re one of them, then you’ll be gearing up over the coming weeks for your big move. Moving is one of life’s most stressful events. And unfortunately, mistakes are common. Hiring local moving or long distance moving professionals is a good way to get started on the right foot.

Here’s what flyttebyrå oslo wants you to know to avoid some of the worst moving mistakes so that your relocation is as stress-free as possible.

Not being organized

If you’re moving, then you are literally taking everything you own and transferring it to a new location. That’s a big job. It’s easy to get overwhelmed and lose sight of the bigger picture. When you’re preparing to move, it is essential that you create a plan. Use a moving checklist that breaks down tasks and keeps you moving towards your goal.

Moving everything you own

One of the biggest favors you can do for yourself when you move is to clear out your clutter. There is no sense in moving items you don’t need or use to your new home. Not only will this add extra time to packing and unpacking, you will pay more since most moves factor weight into the cost. As you pack, set aside those items that you can sell or donate. You can even arrange to have them picked up by a charity to save you time.

Not researching moving companies

Don’t just choose a moving company at random. Take time to thoroughly vet several residential movers before deciding on the one you will use. There are many moving scams out there, and you don’t want to become the next victim. Check each company’s reviews and find out if there are any complaints against them with the Better Business Bureau. You should also insist on getting an in-house estimate and not just having a price quoted over the phone or online. You don’t want to end up with a much higher bill come moving day.

Not having enough insurance

Accidents happen, and it’s not unusual for items to arrive at their new location broken or damaged. Before the move, find out what kind of insurance the mover has. You may discover that it only covers a portion of the value of your items. In these cases, it could be wise to purchase additional insurance from your mover. You should also check your homeowners insurance policy to see what may or may not be covered during your move.

Forgetting to pack a box of essentials

Finally, there are essential items that you will need when you arrive at your new place. After spending an exhausting day moving, the last thing you want to do is hunt through boxes for your toothbrush or a roll of toilet paper. Don’t forget to pack a few boxes of essentials that you can use in the first few days after your move. Include comfort items for kids and pets, basic tools, cleaning supplies, chargers, essential toiletries and medication, a can opener, disposable plates and utensils, and anything else that you can’t live without. It will make the transition so much smoother and more manageable.

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When most homeowners think of curb appeal, they imagine hours spent planting and tending an elaborate garden. But curb appeal doesn’t begin and end with plants and flowers. In fact, you can create amazing curb appeal even if you don’t have a green thumb. Here are some excellent ideas for boosting the look of your home’s exterior without ever having to plant one flower, bush, or tree.

Conceal eyesores

There’s nothing beautiful about trashcans, utility boxes, garden hoses or the cluttered tools in your garage. But don’t let these practical objects take away from your home’s outdoor charm. There are many ways that you can easily conceal these eyesores. You may improve your garage floor by adding concrete coatings. Garbage and recycle bins can be hidden with a simple enclosure that you can make yourself or buy and assemble. Use large faux rocks to camouflage pipes, meters, or utility boxes. Or choose a decorative container for storing your garden hose.

Create crisp edges

Crisp edges around garden beds and lawns create a polished look that can add tons of character with minimal work. Regularly trim your grass and keep the edges neat. This gives your entire yard a polished, manicured look. You can use either a power edger or a manual edger. Power edgers work well on straight lines, but you may need a manual tool for more detailed curves. You can also create sharp edges around garden beds with bricks, trim, pavers, or wood.

Power wash

While you’re out there tending to your lawn, it’s also a good idea to give the outside of your home a deep cleaning. You can do this by setting your garden hose on the strongest setting and spraying down the exterior, sidewalks, driveways, decks, and porches. For an even deeper cleaning, consider renting a power washer. Just be careful not to spray windows and doorways or you could cause damage. If you decide to redo your driveway, you may also consider a sealcoating service to protect it. You may purchase asphalt from trusted asphalt suppliers if you are planning to have an asphalt driveway.

Paint the front door

Nothing refreshes the outside of your home quite like a fresh coat of paint on your front door. You can create a beautiful focal point by choosing a color in an eye-catching shade. Not sure what color to choose? You’ll find endless inspiration online to help you decide what kind of mood you’d like to create.

Add accent lighting

We all know how important it is to have plenty of light outside so you can easily see at night. Porch lights, bollard lighting, garage lights, and motion-sensing lights add character to your home and help keep you safe. But you can add even more charm by installing some simple accent lighting. Hang solar-powered lanterns from trees and shrubs or choose stake lights to highlight garden beds. Check out the range at Festoon Lights and illuminate your garden with vintage festoon lighting.

Create a conversation area

Once you’ve made your outdoor areas so inviting you’re going to want to spend time in them. Create conversation nooks that allow you to enjoy your hard work with friends, family, and neighbors. Add a garden bench under a tree or café table with two chairs to your front porch. Make it even more inviting by painting chairs and benches in attractive colors. Add soft, weather-resistant pillows and a side table to hold your glasses of ice-cold lemonade for those hot summer days ahead.

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