Refinancing can be beneficial if everything lines up in your favor. It’s important to take into account your existing mortgage parameters, the current environment for mortgage rates, and your current financial standing.

If those all line up, what are a few benefits of refinancing? Here are just a few;

One of the most powerful outcomes of refinancing a loan is a lower interest rate. Whether your credit score has improved since you originally took out the mortgage loan or simply because average rates have dropped, if a significantly lower rate is possible, it’s worth looking into. A lower interest rate can make a big difference in how much you pay over the life of your loan.

If your current monthly payment is hard to afford, you might be able to lower it through refinancing. Most often, this is done through the combination of a long (or longer) term on a lower total loan amount. For example, if you took out a 30 year mortgage for $100,000 and paid off $20,000, that would leave you with $80,000 left to pay. If you decide to refinance with another 30 year loan, you can now spread the payments for the remaining $80,000 out over 30 years. This makes your monthly payment smaller.

That being said, it’s important to take interest into account. If you were already 10 years into your mortgage and decided to refinance for another 30-year mortgage, you’d now be paying interest for a total of 40 years. That means that while your monthly payments may be smaller, it’s possible that you’ll pay more overall than you would have without refinancing.

You could refinance to shorten the term of your loan. Mortgages especially benefit from shorter terms. For example, the difference in total interest for a 15-year mortgage vs a 30-year mortgage is significant. This is because 30-year mortgages usually have higher interest rates and require you to make payments for twice as long, allowing more interest to rack up. Refinancing to a 15-year option will allow you to pay off the loan quicker and save some cash, but be aware that a shorter mortgage term typically means higher monthly payments.

If refinancing won’t significantly change your interest rate, it may be just as effective to simply make larger monthly payments on your own. But make sure to check if your loan has any prepayment penalties. These fees can be significant and reduce the benefit of paying your loan off early.

A cash-out refinance allows you to borrow enough money to pay off your old loan and a little extra. Unless it’s a limited cash-out refinance, you can then use that extra money for whatever you would like. Use extreme caution when considering a cash-out refinance as it increases your debt. While it may feel tempting to get extra cash, it’s dangerous to take out more than you can afford to pay back.

When doing a cash out refinance on a mortgage, you can usually borrow up to 80% of your equity (the market value for the amount of your home you own). But if you choose a cash-out refinance for an investment, like a home, you’re trading in equity for more debt and putting yourself in a riskier situation.

If you’re unhappy with the type of loan that you originally borrowed, refinancing can allow you to change that. For example, if you started with an adjustable rate mortgage and want to switch to something a bit more steady, you can refinance with a fixed rate mortgage.

Refinancing is a fairly simple idea that can be complicated in action. Carefully consider whether the drawbacks and benefits of refinancing will come out in your favor. Be aware that there are costs associated with refinancing a loan since you’re essentially taking out an entirely new loan and can be charged multiple fees.

More questions? Contact one of our mortgage experts at Lake Area Mortgage today!
 

While we hope you find this content useful, it is only intended to serve as a starting point. Your next step is to speak with a qualified mortgage professional who can provide advice tailored to your individual circumstances. Nothing in this article, nor in any associated resources, should be construed as financial, tax or legal advice. Furthermore, while we have made good faith efforts to ensure that the information presented was correct as of the date the content was prepared, we are unable to guarantee that it remains accurate today.

Start by defining your goals. Consider where you want to live, the features you’re looking for, what you can afford, and a realistic date for having the money you’ll need. Then apply your knowledge to making this crucial decision of purchasing your Minnesota home!

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[av_heading tag=’h2′ padding=’10’ heading=’Minnesota Mortgage Options for Home Buyers’ color=” style=’blockquote modern-quote modern-centered’ custom_font=” size=” subheading_active=’subheading_below’ subheading_size=’15’ custom_class=” admin_preview_bg=” av-desktop-hide=” av-medium-hide=” av-small-hide=” av-mini-hide=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=”] Which Type of Mortgage is Best for Me?
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Exploring Minnesota Mortgage Options In 2021

There is no doubt about it, finding the right mortgage for yourself or your family can feel like a daunting or even overwhelming task. Regardless of whether you’re a first-time homebuyer, buying your dream home, downsizing, flipping, investing or looking for something else altogether, Lake Area Mortgage offers a wide variety of options for your home purchase.

Throughout this mortgage homebuying guide we will illustrate the different types of mortgages, the benefits, and potential pitfalls of each, and hopefully help you decide which mortgage type is best for your situation. Let’s get started!

Mortgage Types:

There are 2 main types of mortgages, fixed rate & variable rate. Within those two main categories there are a multitude of subcategories to customize the payment plans to each consumers’ needs. While there of course are other mortgage options, this is a comprehensive view of what most buyers utilize as a lending vehicle to purchase their first home.

Conventional Fixed-Rate Loan –

This is the most common type of mortgage loan for consumers to finance a home. In this type of loan, the interest rate is fixed at the start of the loan and remains constant throughout the life of the loan. This type of mortgage loan may suit your needs best if you:

• Are looking for security of making a constant, predictable payment month-to-month
• Are planning to stay in the home for the long term (Generally 5+ years)

Down Payment Assistance –

A no closing cost option or low closing cost option greatly reduces the amount of money you need at closing because it covers your third-party charges and waives lender origination fees. At Lake Area Mortgage, we can offer eligible homebuyers unique programs through the Minnesota Housing Finance Agency that help with these issues. You’ll still have a down payment and need money for prepaid reserves (such as property taxes, homeowners insurance, and prepaid interest), but this is a great option if you want to bring less money to closing. Your interest rate may potentially be slightly higher, but there’s no prepayment penalty or hidden restrictions. This option may suit your financial needs best if you:

• Don’t have a lot of money for closing on hand or want to spend less cash in hand upfront
• Are a first-time homebuyer

VA Home Loan –

Through the GI Bill of 1944, if you are a veteran of our military, a widowed military spouse, or an active duty service member, you can apply for a VA home loan to purchase a home. The program is designed to make it easier for qualified purchasers to gain the benefits of homeownership. Interest rates can be better than conventional rates and there is no minimum down payment! That means many eligible buyers can purchase with 0% down. This loan may suit your financial needs best if you:

• Are an active duty service member, veteran, or an eligible family member
• Are needing to finance up to 100% of the home
• Have a low credit score & have a higher debt-to-income ratio

Jumbo Home Loan –

These are like they sound – much larger loans. If your loan is large and it exceeds the conforming loan limit in our area ($548,250 for 2021), then a jumbo loan is needed for the financing. With a jumbo loan you can finance your dream home and enjoy the finer luxuries of Minnesota. This loan may suit your financial needs best if you:

• Are considering a home with a purchase price of $600,000 or greater
• Are looking for a higher loan amount with a competitive interest rate

FHA Loan –

FHA loans provide an advantage over conventional loans because they are backed by the FHA or the Federal Housing Administration, which is the world’s largest mortgage insurer. The FHA does NOT lend money, rather they back the lenders should the borrower’s default on the mortgage. This loan may suit your financial needs best if you:

• Are first time home buyers
• Have average, poor or limited credit
• Need a smaller down payment option
• Need to consider expanded co-borrower options

Bridge Loan –

These loans are typically for people who are moving from one home to the other and want to utilize the equity on their existing home, to put a down payment on their new home. This type of loan acts as a transition vehicle between two properties and allows borrowers to access equity in their current home to use as down payment for their next purchase. We allow borrowers to loan up to 80% of the appraised value of their existing home. This loan may suit your financial needs best if you:

• Are selling your current home and buying a new home or are planning to have your home built
• Desire the convenience of a seamless loan during the selling process of your current home

USDA Loan –

A USDA loan otherwise referred to as the Rural Housing Loan has a 30-year term with an interest rate set by the lender. There is no minimum down payment and allows for 100% financing. It does have income and credit requirements to qualify and can ONLY be used for primary residence. This loan may suit your financial needs best if you:

• Live in a rural area
• Have good credit and verifiable income
• Plan on staying in the home 5+ years

Lot & Land Loans –

These two types of loans are for either short- or long-term financing. A Lot loan is short-term financing used to purchase an improved lot that has curbing and/or utilities in place, with the intent to build a new home or cabin on it within a year. A Land Loan is longer term, typically used to purchase raw land and does not need to be improved land with utilities in place. A land loan is typically used for individuals wanting land to use for recreation or future build. These loans may suit your financial needs best if you:

• Are purchasing land and looking to build a home
• Either short- or long-term property holding

Lake Area Mortgage offers a wide range of mortgage loans, to suit almost any home buyer. Remember, our down payment assistance plans are available on several of our mortgages; make sure to ask about your options

Call us toll free at 1-866-321-1566 to speak with a Lake Area Mortgage lender or visit our site at Lake Area Mortgage today! Our team will work with you to help determine which mortgage type is the best for you!

***Mortgage loans are originated by Lake Area Mortgage, and are subject to credit approval, verification, and collateral evaluation. Programs, offers, rates, terms, and conditions are subject to change or cancellation without notice. Certain conditions apply. ***
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Why You Should Review Your Credit Report

& what to do if you find a mistake.

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Consumers hear a lot about credit scores and why it’s important to keep them within a healthy range. But there’s another best practice that’s key to improving and maintaining good credit: reviewing your credit report.
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[av_textblock size=’24’ font_color=’custom’ color=’#2e7cd1′ av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”] Credit Score vs. Credit Report: What’s the difference?
[/av_textblock] [av_iconlist position=’left’ iconlist_styling=” custom_title_size=” custom_content_size=” font_color=’custom’ custom_title=” custom_content=’#020202′ color=’custom’ custom_bg=” custom_font=’#3089e8′ custom_border=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”] [av_iconlist_item title=’Credit Score:’ link=” linktarget=” linkelement=” icon=’ue8de’ font=’entypo-fontello’] A number calculated by the credit reporting agencies, based on your credit report, to rank your creditworthiness.
[/av_iconlist_item] [av_iconlist_item title=’Credit Report:’ link=” linktarget=” linkelement=” icon=’ue84d’ font=’entypo-fontello’] A detailed report of your financial history, including age and number of credit lines, repayment history, and types of credit.
[/av_iconlist_item] [/av_iconlist] [av_hr class=’invisible’ height=’-50′ shadow=’no-shadow’ position=’center’ custom_border=’av-border-thin’ custom_width=’50px’ custom_border_color=” custom_margin_top=’30px’ custom_margin_bottom=’30px’ icon_select=’yes’ custom_icon_color=” icon=’ue808′ font=’entypo-fontello’ admin_preview_bg=”] [av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”] Your credit report contains personal information about where you live, how you pay your bills, whether you have filed for bankruptcy, or if you’ve been sued. It lists inquiries that have been made about your credit as well. When you apply for a new credit card and the company says it’s running a credit check, it’s looking up your credit report to review your financial past.
[/av_textblock] [av_textblock size=’24’ font_color=’custom’ color=’#2e7cd1′ av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”] Get the Facts for Free.

[/av_textblock] [av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”] When you are trying to improve your credit score, it’s important to track your credit by ordering your free reports from www.annualcreditreport.com. You’re entitled to a free credit report once every 12 months from each of the credit reporting bureaus, Equifax, Experian, and TransUnion, through this website. Many financial advisors suggest that you stagger your requests over those 12 months so that you can monitor them for accuracy and changes.
[/av_textblock] [av_textblock size=’24’ font_color=’custom’ color=’#2e7cd1′ av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”] If You Find a Mistake…

[/av_textblock] [av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”] The credit bureau and the company that provided the information to the bureau are both responsible for correcting errors found in your report. If you find any errors, you can dispute these and get them corrected by following these steps:
[/av_textblock] [av_iconlist position=’left’ iconlist_styling=’av-iconlist-small’ custom_title_size=” custom_content_size=” font_color=” custom_title=” custom_content=” color=’custom’ custom_bg=” custom_font=’#3089e8′ custom_border=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”] [av_iconlist_item title=’Send a dispute letter to the reporting company documenting each error on your report.’ link=” linktarget=” linkelement=” icon=’ue812′ font=’entypo-fontello’][/av_iconlist_item] [av_iconlist_item title=’Send a letter to the creditor who provided the incorrect information.’ link=” linktarget=” linkelement=” icon=’ue812′ font=’entypo-fontello’][/av_iconlist_item] [av_iconlist_item title=’Explain why you dispute each item and request that the errors be removed or corrected.’ link=” linktarget=” linkelement=” icon=’ue812′ font=’entypo-fontello’][/av_iconlist_item] [av_iconlist_item title=’Include copies of documents that support your position.’ link=” linktarget=” linkelement=” icon=’ue812′ font=’entypo-fontello’][/av_iconlist_item] [av_iconlist_item title=’If your dispute results in a change to your report, the credit bureau must give you a free copy to review.’ link=” linktarget=” linkelement=” icon=’ue812′ font=’entypo-fontello’][/av_iconlist_item] [av_iconlist_item title=’Ask the company to send notices of correction to anyone who requested your credit report in the last six months.’ link=” linktarget=” linkelement=” icon=’ue812′ font=’entypo-fontello’][/av_iconlist_item] [/av_iconlist] [av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”] Reviewing your credit report and seeing your financial history in detail can help you see where there is room for improvement. Staying within your budget, paying off your debts, and limiting your credit cards can set you on the path to a higher credit score and more favorable loan terms. Our award-winning team of mortgage professionals are always available to discuss your eligibility for a home loan! Contact us today!
[/av_textblock] [av_textblock size=’10’ font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”] *Lake Area Mortgage; A Division of Royal Credit Union is not a credit counseling or financial advisement firm. This information is for educational purposes only and is not to be taken as guidelines or guarantees to improve your credit or financial situation.
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Debt and Your Credit Score

Tips for creating a budget and paying down debt.

[/av_textblock] [av_hr class=’short’ height=’50’ shadow=’no-shadow’ position=’center’ custom_border=’av-border-thin’ custom_width=’50px’ custom_border_color=” custom_margin_top=’30px’ custom_margin_bottom=’30px’ icon_select=’yes’ custom_icon_color=” icon=’ue808′ font=’entypo-fontello’ admin_preview_bg=”] [av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”] In our last two blogs for Credit Awareness Month (“Understanding Your Credit Score” and “Credit Score Holding You Back?”), we have mentioned how debt factors into your credit score calculation. So now, let’s talk about methods on how to handle debt in favor of your credit score.

Budgeting and dealing with debt can be a struggle, but your first steps would be to create a budget and pay down your debt strategically.
[/av_textblock] [av_one_full first min_height=” vertical_alignment=’av-align-top’ space=” margin=’0px’ margin_sync=’true’ padding=’20px’ padding_sync=’true’ border=” border_color=” radius=’0px’ radius_sync=’true’ background_color=’#d6d6d6′ src=” attachment=” attachment_size=” background_position=’top left’ background_repeat=’no-repeat’ animation=” mobile_breaking=” mobile_display=”] [av_textblock size=’20’ font_color=’custom’ color=’#0070e8′ av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”]   Identify & Simplify
[/av_textblock] [av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”] First, identify and track how you’re currently spending your money. Take advantage of free online tools or mobile apps to help make budgeting simpler and identify where you need to make changes.

Next, set your financial goals and refine your budget to meet those goals. Continue to track your spending to make sure you’re staying within your budget.
[/av_textblock] [av_textblock size=’20’ font_color=’custom’ color=’#0070e8′ av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”]   Start Small

[/av_textblock] [av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”] Once you’ve created your budget and know where your money is going, it’s time to start paying down your debt. A good tactic for dealing with debt is Dave Ramsey’s Debt Snowball Plan.

The plan works by focusing on one small, manageable debt at a time. Here are some tips to implement this plan:

• Make a list of all your debts and the balance owed, from smallest to largest.
• Pay off the smallest debt first. Make minimum payments on all your other debts and funnel the rest of your extra funds into the smallest debt.
• Each time you pay a debt in full, work on the next smallest debt on your list.
• Continue this program until you reach the last debt on your list.
• Know how it feels to live debt-free!

By starting with your smaller debts, you’ll see results quickly, which will help motivate you to keep going. You’ll be surprised by how much progress you can make in a short amount of time!
[/av_textblock] [av_textblock size=’20’ font_color=’custom’ color=’#0070e8′ av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”]   Talk To Your Creditors or Collection Agency

[/av_textblock] [av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”] If you have been getting letters and phone calls regarding payments to a creditor and you know you’re behind on your payments, the best thing to do is to contact the companies you owe as soon as possible. Explain your financial situation and request to set up a payment plan that you can afford to pay on. Everyone benefits when you’re making payments toward reducing your debt, so many creditors are more than willing to discuss a payment strategy and work with you to make the amounts manageable.

If you haven’t contacted the companies to whom you owe a debt, after a period of time your debt may be sold to a collections agency. If that happens, you’ll get letters and calls from a different company.

But the remedy is the same: Call the collection agency to set up a payment plan with them. Getting a payment plan set up is better than doing nothing at all!

Remember, just because you are behind on your payments doesn’t mean you have no rights. The Fair Debt Collection Practices Act ensures you are treated fairly and honestly and that collectors are not abusive or threatening toward you.

If you’ve recently cleared a debt from your credit history, you may be closer to the goal of homeownership than you realize! Let’s discuss your options. Contact one of our Mortgage Bankers today!
[/av_textblock] [/av_one_full][av_textblock size=’10’ font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”] *Lake Area Mortgage; a Division of Royal Credit Union is not a credit counseling or financial advisement firm. This information is for educational purposes only and is not to be taken as guidelines or guarantees to improve your credit or financial situation.
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Credit Score Holding You Back?

Simple tips on improving your score.

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At Lake Area Mortgage, we meet people every day with stable finances — a good job, money in the bank — who want to purchase a home. But many of those people are finding a roadblock to mortgage approval: a credit score too low to qualify for a loan with today’s credit requirements.   

For people in this situation, it’s important to remember that this isn’t the end of the road; it’s merely a delay in achieving your goal. Credit scores can be improved. With some basic knowledge of how credit scoring works, you can take steps to improve your score and meet many of your financial goals. It may take some time, but it is possible to change those numbers and get on the path to purchasing your own home.

Although there are no quick fixes when it comes to improving your credit score, you can improve it over time. Here are nine steps you can take to become more creditworthy:

 

 

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[av_iconlist position=’left’ iconlist_styling=” custom_title_size=” custom_content_size=’13’ font_color=’custom’ custom_title=’#000000′ custom_content=’#020202′ color=’custom’ custom_bg=’#7bb0e7′ custom_font=’#ffffff’ custom_border=’#898989′ av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”] [av_iconlist_item title=’Create a budget and stick to it.’ link=” linktarget=” linkelement=” icon=’ue836′ font=’entypo-fontello’][/av_iconlist_item] [av_iconlist_item title=’Continue paying your bills on time — your payment history matters.’ link=” linktarget=” linkelement=” icon=’ue863′ font=’entypo-fontello’][/av_iconlist_item] [av_iconlist_item title=’Pay down high balances.’ link=” linktarget=” linkelement=” icon=’ue8de’ font=’entypo-fontello’] Try to keep your card balances below 30% of your available credit. Credit utilization matters and 30% is the sweet spot.
[/av_iconlist_item] [av_iconlist_item title=’Don’t cancel your credit cards, since length of credit helps.’ link=” linktarget=” linkelement=” icon=’ue8cf’ font=’entypo-fontello’]  A paid-off, open line of credit can actually boost your score. In fact, canceling it may cause your score to drop.
[/av_iconlist_item] [av_iconlist_item title=’Don’t apply for new credit.’ link=” linktarget=” linkelement=” icon=’ue814′ font=’entypo-fontello’] This doesn’t mean just credit cards! Any type of loan is considered new credit – a new car or loan on your brand-new smart phone!
[/av_iconlist_item] [av_iconlist_item title=’Dispute inaccurate items on your credit report.’ link=” linktarget=” linkelement=” icon=’ue83e’ font=’entypo-fontello’] Federal law allows you to obtain a free credit report at least once every 12 months from the three major credit bureaus: Equifax, Experian and TransUnion. Using www.AnnualCreditReport.com is the quickest way, but you can also request them by phone or mail.
[/av_iconlist_item] [av_iconlist_item title=’Settle any collections or past due accounts.’ link=” linktarget=” linkelement=” icon=’ue849′ font=’entypo-fontello’][/av_iconlist_item] [av_iconlist_item title=’Keep “good debt” on your report, such as an auto loan with a good payment history.’ link=” linktarget=” linkelement=” icon=’ue827′ font=’entypo-fontello’][/av_iconlist_item] [av_iconlist_item title=’Pay your parking tickets, library fines, and any other fines you may incur. If they’re sent to collections, it can negatively impact your score.’ link=” linktarget=” linkelement=” icon=’ue84d’ font=’entypo-fontello’][/av_iconlist_item] [/av_iconlist] [av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”]

 

Getting your financial house in order will get you another step closer to purchasing a new home. Give your mortgage banker, here at Lake Area Mortgage, a call today to start discussing your home loan options.
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[av_textblock size=’10’ font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”] Lake Area Mortgage; a Division of Royal Credit Union is not a credit counseling or financial advisement firm. This information is for educational purposes only and is not to be taken as guidelines or guarantees to improve your credit or financial situation
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[av_image src=’https://lam.corephp.org/wp-content/uploads/2019/10/Credit-Awareness-1.jpg’ attachment=’1890′ attachment_size=’full’ align=’center’ styling=” hover=” link=” target=” caption=” font_size=” appearance=” overlay_opacity=’0.4′ overlay_color=’#000000′ overlay_text_color=’#ffffff’ animation=’no-animation’ av-mini-hide=’aviaTBav-mini-hide’ admin_preview_bg=”][/av_image] [av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”]

Understanding Your Credit Score

An overview of your credit score and what influences it.

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These days, your credit score is critical in many areas of your life: Getting a home or car loan, applying for credit cards, getting a good rate on your insurance, and even getting a new job are all affected by that three-digit number.

[/av_textblock] [av_hr class=’custom’ height=’50’ shadow=’no-shadow’ position=’center’ custom_border=’av-border-none’ custom_width=’50px’ custom_border_color=” custom_margin_top=’10’ custom_margin_bottom=’10’ icon_select=’yes’ custom_icon_color=’#7bb0e7′ icon=’ue87b’ font=’entypo-fontello’ admin_preview_bg=’rgb(241, 241, 241) none repeat scroll 0% 0%’] [av_heading tag=’h5′ padding=’0′ heading=’What is a Credit Score?’ color=’custom-color-heading’ style=’blockquote modern-quote’ custom_font=’#228fe2′ size=’40’ subheading_active=” subheading_size=’15’ custom_class=” admin_preview_bg=” av-desktop-hide=” av-medium-hide=” av-small-hide=” av-mini-hide=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=”][/av_heading] [av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”] A credit score is a number between 300 and 850 that lenders use to determine whether to extend you credit, the amount of credit you qualify for, and even the terms (interest rate, loan amount, repayment schedule). Generally, scores over 700 are considered excellent while scores below 600 may need some work.

The score is determined by the three leading credit bureaus: TransUnion, Equifax and Experian. Your creditors — the companies, lenders, and organizations that lend you money and extend credit to you — report information to them such as your credit limit and whether you pay on time. Each agency keeps its own records so your score can vary from bureau to bureau. For a mortgage loan, generally the middle score is used.
[/av_textblock] [av_hr class=’default’ height=’50’ shadow=’no-shadow’ position=’center’ custom_border=’av-border-thin’ custom_width=’50px’ custom_border_color=” custom_margin_top=’30px’ custom_margin_bottom=’30px’ icon_select=’yes’ custom_icon_color=” icon=’ue808′ av-desktop-hide=” av-medium-hide=” av-small-hide=” av-mini-hide=”] [av_heading tag=’h5′ padding=’0′ heading=’“Why is my credit score for a mortgage different than the one I accessed at home?”’ color=’custom-color-heading’ style=’blockquote modern-quote’ custom_font=’#228fe2′ size=’40’ subheading_active=” subheading_size=’15’ custom_class=” admin_preview_bg=” av-desktop-hide=” av-medium-hide=” av-small-hide=” av-mini-hide=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=”][/av_heading] [av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”] Creditors and lenders use more specific industry credit scores that are customized for the type of credit product you’re applying for. For example, auto lenders typically use a credit score that better predict the likelihood that you would default on an auto loan. Mortgage lenders use a score developed specifically for mortgage loans.
[/av_textblock] [av_hr class=’default’ height=’50’ shadow=’no-shadow’ position=’center’ custom_border=’av-border-thin’ custom_width=’50px’ custom_border_color=” custom_margin_top=’30px’ custom_margin_bottom=’30px’ icon_select=’yes’ custom_icon_color=” icon=’ue808′ av-desktop-hide=” av-medium-hide=” av-small-hide=” av-mini-hide=”] [av_heading tag=’h5′ padding=’0′ heading=’Why is it important?’ color=’custom-color-heading’ style=’blockquote modern-quote’ custom_font=’#228fe2′ size=’40’ subheading_active=” subheading_size=’15’ custom_class=” admin_preview_bg=” av-desktop-hide=” av-medium-hide=” av-small-hide=” av-mini-hide=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=”][/av_heading] [av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”] Beyond securing a home mortgage loan and purchasing a home, credit scores are often used in determining prices for auto and homeowners insurance. Employers have also begun using the scores as part of background checks when making hiring decisions. The practice of using credit scores in nontraditional ways is expanding. It’s more important than ever to educate yourself about credit.
[/av_textblock] [av_hr class=’default’ height=’50’ shadow=’no-shadow’ position=’center’ custom_border=’av-border-thin’ custom_width=’50px’ custom_border_color=” custom_margin_top=’30px’ custom_margin_bottom=’30px’ icon_select=’yes’ custom_icon_color=” icon=’ue808′ av-desktop-hide=” av-medium-hide=” av-small-hide=” av-mini-hide=”] [av_heading tag=’h5′ padding=’0′ heading=’The following factors are used to determine your credit score:’ color=’custom-color-heading’ style=’blockquote modern-quote modern-centered’ custom_font=’#228fe2′ size=’40’ subheading_active=” subheading_size=’15’ custom_class=” admin_preview_bg=” av-desktop-hide=” av-medium-hide=” av-small-hide=” av-mini-hide=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=”][/av_heading] [av_textblock size=” font_color=’custom’ color=’#020202′ av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”]

• Do you pay your bills on time? If you have late payments, had an account sent to a collection agency, or have declared bankruptcy, this will have a negative impact on your credit score.
• What is your outstanding debt? The three leading credit bureaus, TransUnion, Equifax and Experian, look at how close you are to your credit limit (i.e., are you “maxing out” your credit cards). If the amount you owe is close to your limit, it is likely to have a negative impact.
• How long is your credit history? In other words, how long have you had credit accounts open? A short history can have a negative impact, but it can be offset by on-time payments and low balances.
• Have you applied for new credit recently? Applying for too many accounts within a short time period can negatively affect your score.
• How many and what types of credit accounts do you have? The credit bureaus consider the number and type of accounts you have. A mix of installment loans — such as an auto loan — and credit cards may improve your score. Too many financial accounts or too many credit cards could possibly hurt your score.

[/av_textblock] [av_hr class=’short’ height=’-30′ shadow=’shadow’ position=’center’ custom_border=’av-border-thin’ custom_width=’50px’ custom_border_color=” custom_margin_top=’30px’ custom_margin_bottom=’30px’ icon_select=’yes’ custom_icon_color=” icon=’ue808′ font=’entypo-fontello’ admin_preview_bg=”] [av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”] Keeping your credit score healthy affects more than your mortgage these days. If you need to improve your credit score in order to reach your goals, your mortgage banker can refer you to local resources that provide credit counseling* or sit down with you to discuss your eligibility to apply for a home loan. Let’s get you ready to become a homeowner.

^{*Lake Area Mortgage; a Division of Royal Credit Union is not a credit counseling or financial advisement firm. This information is for educational purposes only and is not to be taken as guidelines or guarantees to improve your credit or financial situation.}
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[av_image src=’https://lam.corephp.org/wp-content/uploads/2019/08/Neighborhood-research-1.jpg’ attachment=’1745′ attachment_size=’full’ align=’center’ styling=” hover=” link=” target=” caption=” font_size=” appearance=” overlay_opacity=’0.4′ overlay_color=’#000000′ overlay_text_color=’#ffffff’ animation=’no-animation’ av-mini-hide=’aviaTBav-mini-hide’ admin_preview_bg=”][/av_image] [av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”]

More Than Just a Pretty Face

Tips on researching a neighborhood before you buy.

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There are plenty of homebuyers who set their sights on certain neighborhoods, having lived near them or walked through them many times over. They know all there is to know about the area’s school district, the shopping, and its commercial spaces. They’re just waiting for the right house to pop up.   

So, what about those considering buying a home in an area unfamiliar to them? What homework will they need to do on their own? There are certain things their Realtor isn’t permitted to tell them because of real estate and Fair Housing laws. “Even if the area looks nice, you never really know what happens after dark—or sometimes even in broad daylight,” says Realtor.com’s Larissa Runkle. For instance, safety and crime rates are a biggie, especially if you have kids. What is the likelihood of getting your car broken into if you leave it on the street or your own driveway? Your agent can’t help you here, because they legally are not permitted to answer questions like these. There are, however, ways to find out on your own.
[/av_textblock] [av_one_half first min_height=’av-equal-height-column’ vertical_alignment=’av-align-top’ space=’no_margin’ margin=’0px’ margin_sync=’true’ padding=’20px’ padding_sync=’true’ border=” border_color=” radius=’0px’ radius_sync=’true’ background_color=’#d6d6d6′ src=” attachment=” attachment_size=” background_position=’top left’ background_repeat=’no-repeat’ animation=” mobile_breaking=” mobile_display=”] [av_heading heading=’Online Research.’ tag=’h5′ style=’blockquote modern-quote’ size=’40’ subheading_active=” subheading_size=’15’ padding=’0′ color=’custom-color-heading’ custom_font=’#228fe2′ av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”][/av_heading] [av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”] Online research should tell you what you need to know if you type “crime rates in —— neighborhood” into a search engine. Some sites are better than others, such as AreaVibes or CityData. Also try CommunityCrimeMap, which features information, times of day, and locations where trouble happens. If you feel more at ease with it, look up public records like police reports, which are often listed in local papers or online. Snooping online at NextDoor, Reddit, or the city’s website are not bad ideas either. There you will find threads where residents have discussions about their neighborhoods and offer opinions.
[/av_textblock] [av_hr class=’default’ height=’50’ shadow=’no-shadow’ position=’center’ custom_border=’av-border-thin’ custom_width=’50px’ custom_border_color=” custom_margin_top=’30px’ custom_margin_bottom=’30px’ icon_select=’yes’ custom_icon_color=” icon=’ue808′ av-desktop-hide=” av-medium-hide=” av-small-hide=” av-mini-hide=”] [av_heading heading=’When in doubt, talk to the locals.’ tag=’h5′ style=’blockquote modern-quote’ size=’40’ subheading_active=” subheading_size=’15’ padding=’0′ color=’custom-color-heading’ custom_font=’#228fe2′ av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”][/av_heading] [av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”] Do some door knocking or stop into some local businesses to get the scoop on the neighborhood. It’s especially easy when you see people outside washing cars or mowing lawns. Tell them you are interested in buying in the neighborhood and ask if they would move there again if given the choice.
[/av_textblock] [/av_one_half] [av_one_half min_height=” vertical_alignment=’av-align-top’ space=” margin=’0px’ margin_sync=’true’ padding=’20px’ padding_sync=’true’ border=” border_color=” radius=’0px’ radius_sync=’true’ background_color=’#d6d6d6′ src=” attachment=” attachment_size=” background_position=’top left’ background_repeat=’no-repeat’ animation=” mobile_breaking=” mobile_display=”] [av_heading tag=’h5′ padding=’0′ heading=’Take in your surroundings.’ color=’custom-color-heading’ style=’blockquote modern-quote’ custom_font=’#228fe2′ size=’40’ subheading_active=” subheading_size=’15’ custom_class=” admin_preview_bg=” av-desktop-hide=” av-medium-hide=” av-small-hide=” av-mini-hide=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=”][/av_heading] [av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”] There are also several other things to check out on foot or in your car, such as how beat-up the parked cars appear to be, if there are blighted parts of the neighborhood where pride of ownership is not in abundance. And what about bars on windows, a lot of front gates or tall security fences? Are there a ton of homes for sale? Not a good sign. It’s like walking into an empty restaurant during lunchtime when every other establishment appears to be thriving. Something is amiss.
[/av_textblock] [av_hr class=’default’ height=’50’ shadow=’no-shadow’ position=’center’ custom_border=’av-border-thin’ custom_width=’50px’ custom_border_color=” custom_margin_top=’30px’ custom_margin_bottom=’30px’ icon_select=’yes’ custom_icon_color=” icon=’ue808′ av-desktop-hide=” av-medium-hide=” av-small-hide=” av-mini-hide=”] [av_heading tag=’h5′ padding=’0′ heading=’Talk to your Mortgage Banker!’ color=’custom-color-heading’ style=’blockquote modern-quote’ custom_font=’#228fe2′ size=’40’ subheading_active=” subheading_size=’15’ custom_class=” admin_preview_bg=” av-desktop-hide=” av-medium-hide=” av-small-hide=” av-mini-hide=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=”][/av_heading] [av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”] Moving to a specific community might make sense based on loan programs you can access just by purchasing in that neighborhood! Loan programs and grants can be offered by county, city, or even specific neighborhoods! And yes, you may have the ability to “stack” multiple programs! Huge savings! That’s why it’s extremely important to keep your mortgage banker informed during your house hunting process (aside from knowing how much house you qualify for 😊).

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In the end, trusting your instincts is not a bad idea. “Nothing (and we mean nothing) can replace a gut feeling,” says Runkle. “If you visit your new neighborhood and don’t feel safe enough to walk around alone, then all of the online crime maps in the world really don’t mean a thing.”
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[av_textblock size=’10’ font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”] Sources:
[1] Realtor.com
[2] TBWS , LOSocialbot
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6 Things You Might Not Know Are Hurting Your Home

Don’t be fooled by these not-so-innocent problems.

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As homeowners, we do our best to take care of maintenance needs as they arise: maintaining the yard, tightening a loose railing, cleaning out the gutters. But what about problems that aren’t so obvious … or that appear harmless on the surface? Chances are, you might have minor-seeming maintenance issues around your own home. But some of those “little” problems could be much bigger hazards than you realize! Here are six common issues that homeowners often don’t notice … and why you should address them right away.

[/av_textblock] [av_one_half first min_height=’av-equal-height-column’ vertical_alignment=’av-align-top’ space=’no_margin’ margin=’0px’ margin_sync=’true’ padding=’20px’ padding_sync=’true’ border=” border_color=” radius=’0px’ radius_sync=’true’ background_color=’#d6d6d6′ src=” attachment=” attachment_size=” background_position=’top left’ background_repeat=’no-repeat’ animation=” mobile_breaking=” mobile_display=”] [av_heading tag=’h5′ padding=’0′ heading=’The Root of the Problem’ color=’custom-color-heading’ style=’blockquote modern-quote’ custom_font=’#228fe2′ size=’40’ subheading_active=” subheading_size=’15’ custom_class=” admin_preview_bg=” av-desktop-hide=” av-medium-hide=” av-small-hide=” av-mini-hide=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=”][/av_heading] [av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”] Such a beautiful tree in your yard! Right next to the fence and the driveway. It’s growing bigger and more beautiful every year — and that could turn into a major problem when the roots begin to buckle the concrete and displace the fence. You have a couple of options here. If the tree is still small, install root barriers to redirect the roots before they become a problem. A bigger tree will need its roots cut and then dammed up with a barrier. Or you can get radical and remove the tree altogether and start again with a new tree planted further from structures that could be damaged.

Along the same lines, dangling dead tree limbs or limbs that hang over the roof are a homeowners insurance claim waiting to happen. Have a tree service trim limbs as soon as possible. If you have a tree on your property that is totally dead, the wisest choice is to have it removed completely.
[/av_textblock] [av_heading tag=’h5′ padding=’0′ heading=’A Compromised Support System’ color=’custom-color-heading’ style=’blockquote modern-quote’ custom_font=’#228fe2′ size=’40’ subheading_active=” subheading_size=’15’ custom_class=” admin_preview_bg=” av-desktop-hide=” av-medium-hide=” av-small-hide=” av-mini-hide=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=”][/av_heading] [av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”] Whether you have a basement or just a crawl space, it is critical that you check on your support beams. Your home inspector should have done this when you bought the house, but weather, natural settling of the home, and other factors can make a big and potentially costly impact, especially in older homes. Wooden supports should never, ever be in contact with dirt. Ideally, they should be on top of concrete blocks to keep them away from the ground. If that’s not the case, or your home has settled, you may need to remove part of the basement flooring to extend the protection of the wooden beams. Be sure to consult an expert as in some instances this could require lifting the entire house! You also need to be sure there’s no wooden debris laying around under your home. Dirt-wood-foundation contact is an open invitation to termites and other insects to visit your home for a costly feast!

 
[/av_textblock] [av_heading tag=’h5′ padding=’0′ heading=’Drip…Drip…Drip…’ color=’custom-color-heading’ style=’blockquote modern-quote’ custom_font=’#228fe2′ size=’40’ subheading_active=” subheading_size=’15’ custom_class=” admin_preview_bg=” av-desktop-hide=” av-medium-hide=” av-small-hide=” av-mini-hide=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=”][/av_heading] [av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”] Water waste can cost you big bucks on your home utility bills. In addition, a leaking faucet can also mean leaking pipes, which will damage the cabinetry under the sink and even your flooring if you let it go too long. It could also be a sign of a bigger problem, including mold breeding in your walls. All this wasted water is also detrimental to the environment, so get on this one right away!
[/av_textblock] [/av_one_half] [av_one_half min_height=” vertical_alignment=’av-align-top’ space=” margin=’0px’ margin_sync=’true’ padding=’20px’ padding_sync=’true’ border=” border_color=” radius=’0px’ radius_sync=’true’ background_color=’#d6d6d6′ src=” attachment=” attachment_size=” background_position=’top left’ background_repeat=’no-repeat’ animation=” mobile_breaking=” mobile_display=”] [av_heading tag=’h5′ padding=’0′ heading=’Yard or Jungle?’ color=’custom-color-heading’ style=’blockquote modern-quote’ custom_font=’#228fe2′ size=’40’ subheading_active=” subheading_size=’15’ custom_class=” admin_preview_bg=” av-desktop-hide=” av-medium-hide=” av-small-hide=” av-mini-hide=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=”][/av_heading] [av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”] Many cities, towns, and HOAs across the country have rules about how tall your grass can be, and violators can incur fines or even a trip to court. But besides following the law, there are other reasons to keep your yard trimmed. Long grass invites rats, mice, snakes, ticks, and other unwanted visitors. It can also make your neighbors pretty grumpy with you, and even lower your property value in some instances.
[/av_textblock] [av_heading tag=’h5′ padding=’0′ heading=’It’s A-Peeling’ color=’custom-color-heading’ style=’blockquote modern-quote’ custom_font=’#228fe2′ size=’40’ subheading_active=” subheading_size=’15’ custom_class=” admin_preview_bg=” av-desktop-hide=” av-medium-hide=” av-small-hide=” av-mini-hide=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=”][/av_heading] [av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”] It may look like no big deal: a few patches here and there where the paint on your siding is flaking off. But this is a problem that can escalate quickly. From rain to heat to freezing temperatures, weather conditions will cause that small peeling patch to grow and grow, exposing more of the unprotected wood underneath. That exposed wood is then vulnerable to damage from the elements and even from pests, including termites and mice. UGH!
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Even little cracks in your walls need to be stopped in their tracks — quickly — to prevent more damage from occurring. Inside or out, a spider web of problems can grow from just one little crack, which will make it harder and harder to repair. Smaller cracks can be addressed with spackle or tape and mud, and covered by repainting. They often occur in corners or along drywall seams and generally aren’t indicative of a serious problem.

Professionals should address wide or diagonally running cracks to ensure your foundation isn’t sinking or experiencing other problems. If your roofline or ceilings are beginning to sag or you notice your floors are sloping, get help right away.

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Have you already run into some of these problems in your home, or are you thinking of buying a fixer-upper that will need some repairs and upgrades? Lake Area Mortgage offers renovation loan options to help you get your home into tip-top shape!

 

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[av_image src=’https://lam.corephp.org/wp-content/uploads/2019/06/Bump-up-curb-appeal.jpg’ attachment=’1656′ attachment_size=’full’ align=’center’ styling=” hover=” link=” target=” caption=” font_size=” appearance=” overlay_opacity=’0.4′ overlay_color=’#000000′ overlay_text_color=’#ffffff’ animation=’no-animation’ av-mini-hide=’aviaTBav-mini-hide’ admin_preview_bg=”][/av_image] [av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”]

Bump Up Curb Appeal!

Improve your outdoor style on a budget.

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When it comes to selling your home, first impressions matter. The outside of your home should draw prospective buyers in and make them want to see more. If you’re going to put your home on the market this spring, one of the first things you need to do is take a step back and turn a critical eye to the front of your home. Even if you’re not contemplating a move, a beautiful façade will make your home a joy to, well, come home to.

[/av_textblock] [av_one_half first min_height=’av-equal-height-column’ vertical_alignment=’av-align-top’ space=’no_margin’ margin=’0px’ margin_sync=’true’ padding=’20px’ padding_sync=’true’ border=” border_color=” radius=’0px’ radius_sync=’true’ background_color=’#d6d6d6′ src=” attachment=” attachment_size=” background_position=’top left’ background_repeat=’no-repeat’ animation=” mobile_breaking=” mobile_display=”] [av_heading heading=’Power wash or soft wash?’ tag=’h5′ style=’blockquote modern-quote’ size=’40’ subheading_active=” subheading_size=’15’ padding=’0′ color=’custom-color-heading’ custom_font=’#228fe2′ av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”][/av_heading] [av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”] When prospective buyers pull up to the front of your home and take in their first view, they want to see a clean, pretty building that they can imagine as their own. Washing the front of your home and the walkway will refresh the façade and may even make repainting the front unnecessary. Some Realtors will say it can add $10,000 to $15,000 to the sale price,² and renting a power washer can cost less than $100 per day.

Pro Tip: Concrete driveways can look refreshed after a power wash too!
[/av_textblock] [av_hr class=’default’ height=’50’ shadow=’no-shadow’ position=’center’ custom_border=’av-border-thin’ custom_width=’50px’ custom_border_color=” custom_margin_top=’30px’ custom_margin_bottom=’30px’ icon_select=’yes’ custom_icon_color=” icon=’ue808′ av-desktop-hide=” av-medium-hide=” av-small-hide=” av-mini-hide=”] [av_heading heading=’Fix up the front door and entryway.’ tag=’h5′ style=’blockquote modern-quote’ size=’40’ subheading_active=” subheading_size=’15’ padding=’0′ color=’custom-color-heading’ custom_font=’#228fe2′ av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”][/av_heading] [av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”] A freshly painted door in a bold color with shiny new hardware can make a bright change for less than $75. New house numbers in a modern style add appeal, and a new doormat can send a welcoming message to all who approach. Finish off the rehab with a stylish letterbox that just shouts Buy me!
[/av_textblock] [/av_one_half] [av_one_half min_height=” vertical_alignment=’av-align-top’ space=” margin=’0px’ margin_sync=’true’ padding=’20px’ padding_sync=’true’ border=” border_color=” radius=’0px’ radius_sync=’true’ background_color=’#d6d6d6′ src=” attachment=” attachment_size=” background_position=’top left’ background_repeat=’no-repeat’ animation=” mobile_breaking=” mobile_display=”] [av_heading heading=’Keep washing!’ tag=’h5′ style=’blockquote modern-quote’ size=’40’ subheading_active=” subheading_size=’15’ padding=’0′ color=’custom-color-heading’ custom_font=’#228fe2′ av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”][/av_heading] [av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”] Your windows should sparkle. They should be so clean that you can’t even tell there’s glass in them! Be sure to clean them inside and out. While you’re at it, giving your blinds and curtains a wash is a great idea too.
[/av_textblock] [av_hr class=’default’ height=’50’ shadow=’no-shadow’ position=’center’ custom_border=’av-border-thin’ custom_width=’50px’ custom_border_color=” custom_margin_top=’30px’ custom_margin_bottom=’30px’ icon_select=’yes’ custom_icon_color=” icon=’ue808′ av-desktop-hide=” av-medium-hide=” av-small-hide=” av-mini-hide=”] [av_heading heading=’Love your lawn.’ tag=’h5′ style=’blockquote modern-quote’ size=’40’ subheading_active=” subheading_size=’15’ padding=’0′ color=’custom-color-heading’ custom_font=’#228fe2′ av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”][/av_heading] [av_textblock size=” font_color=” color=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”] Your front yard should be green and neatly trimmed, with no bald patches or brown grass. Trees and shrubs should be pruned and shaped. Clean up your flower garden and put down some fresh, dark mulch for a rich-looking bed. No flowers? Fill large tubs halfway with pebbles or wood chips, add soil on top, and plant bunches of bright flora that will bloom for at least a month.

Pro Tip: Turn on your sprinklers before viewings. The sparkle on your greenery and the fresh scent of water on plants will enhance your home’s attractiveness.
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It’s something you might not think about, but it’s the least expensive job on this list: Ensuring convenient parking for real estate agents and their clients — and having open space in front of your home — can make your property seem more accessible and slightly bigger. Can’t guarantee a front-row parking space in your neighborhood? At least be sure to remove toys, lawn tools, and any other unnecessary items from your front yard. A buyer needs to see your home with nothing blocking the view.

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Once you have your home looking great from the street, the challenge is to keep it looking wonderful through all of the upcoming showings. Make a schedule to stay on top of mowing, weeding, watering, and other lawn and plant maintenance, plus keeping the driveway clean and the porch swept. And be sure to include pulling weeds from between stepping-stones or bricks on your list. All of those little details mean a lot when it comes to curb appeal.

 

Are you looking to make a few bigger changes? Whether you’re upping your curb appeal for your own pleasure or to put your home on the market this spring, we’ve got financing options that could help you get the ball rolling. Let’s talk about making some beautiful updates!

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Sources:
[1] National Association of REALTORS^®, 2018 Remodeling Impact Report: Outdoor Features.
[2] Houselogic, “8 Tips for Adding Curb Appeal and Value to Your Home.”

 

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