Maria DiCarlo's Blog
Packing your entire house is a daunting task to say the least. We are always left wondering how did we end up with so much stuff?
A quick Google search will bring up “ultimate lists” of all of the “packing hacks” you could ever humanly think of. Making the process feel even more daunting.
Here’s your guide to packing tips you’ll actually be glad to know - and none of what you won’t.
Start by decluttering as much as possible.
Get rid of what you no longer need or use. The more you get rid of now the less you have to pack up, carry or even pay to have moved to the new house. Depending on your timeline try to give yourself at least one week where you go through each room one day at a time. However, if you have even more time available you can tackle this project by sections of each room. That smaller you can break down any task the easier and more manageable it becomes.
Schedule your move date.
Schedule your move day with movers at least a month ahead of time to guarantee your perfect time slot. Planning ahead in this way also leaves plenty of room to negotiate with your moving company to find the cheapest time of the month to move. If you have a flexible schedule or able to put in for the time off ahead of time you’ll open up even more possibility for snagging a great deal.
In fact, schedule everything.
Make a schedule and to do list for the moving process. Add it to your calendar, whether that be physical, digital or both! Know your disconnect times will be and when you need to bring back items like cable boxes. Call in for help at least a few weeks out so friends and family are able to make room in their own schedules to help you out.
Pack a little bit each day starting with the least essential items you can easily live without. Save money on boxes by asking your local stores, like the grocery or liquor store, for free boxes. Keep thick blankets out to wrap fragile items like your television in if your moving company doesn’t offer them or you’re moving on your own. Buy different colored packing tape to color code boxes by room. Assign one room to each color and label each box well by including its contents to make unpacking a snap.
Be prepared on moving day.
Find the fastest and shortest route from your old house to the new one. While researching be on the lookout for potential tie-ups like construction or a large town event. Have extra packing tape, light bulbs, and extension cords on hand for moving day. Before unplugging all of your electronics take pictures of your cord setup to take the guesswork out of setup at the new house. Defrost and clean out your fridge at least the day before move day. You’ll avoid messy leaks and can look forward to a like-new fridge on move-in day. Keep a cleaning kit on hand and at the ready, you never know what accidents might pop up during the moving process.
FHA loans have long been a valuable resource for Americans who want to fulfill their goal of homeownership but who don’t have the benefit of a lengthy credit history and equity.
If you’re hoping to buy a home in the near future but want to explore all of your options in terms of financing, this article is for you.
Today we’re going to talk about FHA loans and how to know if you qualify for one.
What are FHA loans?
FHA loans are issued by private mortgage lenders across the country, just like regular mortgages. The difference, however, is that an FHA loan is “guaranteed” by the federal government.
Lenders decide your borrowing eligibility, and how much you can borrow, by determining risk. If you don’t have a sizable down payment (oftentimes 20% or more) and you have a low credit score, most mortgage lenders will see you as a risky person to lend to.
When you get an FHA loan, however, the federal government assumes some of that risk, allowing you to secure the loan anyway.
This means you can buy a home with a low credit score, a smaller than usual down payment, and save on some closing costs.
How do I qualify for an FHA Loan?
To find out if you qualify for an FHA loan, you’ll head to the same place as a traditional mortgage--a mortgage lender. Oftentimes, you can simply call or visit the website of lenders to get the process started.
As with all things, it’s a good idea to shop around for a mortgage lender. Their offerings will be largely similar, but there might be minor differences that make one better than another for your particular circumstances.
Down payment requirements
To secure an FHA loan, you will need to make a down payment of at least 3.5%. However, this low down payment comes with a price. You’ll typically be required to pay private mortgage insurance (PMI) fees on top of your accruing interest for your loan.
Credit score requirements
While you can often secure a mortgage with a lower credit score through an FHA loan, there are still some requirements. To secure a loan with the lowest possible down payment (3.5%), you’ll need a credit score of 580 or above.
Previous homeowners and FHA loans
A common misconception about FHA loans is that they are only for first-time homeowners. However, you can still qualify for an FHA loan if you’ve owned a home before as long as it has been three years since you’ve had a foreclosure or two years since filing for bankruptcy.
If you meet these three conditions, you should be able to secure an FHA loan through a traditional mortgage lender.
As a home seller, receiving the first offer on your residence can be an exciting experience. However, the initial offer on your home may prove to be insufficient for a number of reasons, including:
1. The offer fails to meet your expectations.
Ideally, a home seller will allocate the necessary time and resources to fully analyze a house before adding it to the real estate market. This will enable a home seller to establish realistic expectations for his or her house and price it accordingly.
Conducting a home appraisal offers a great starting point for a home seller to determine the true value of a residence. This appraisal ensures a home inspector will examine a residence's interior and exterior. Then, the inspector will provide a report that details a house's strengths and weaknesses.
With a home appraisal report in hand, a home seller should have no trouble establishing a "fair" price for his or her residence. And if an initial offer falls short of this price, a home seller can politely decline the proposal and wait for additional offers.
2. The homebuyer has submitted a "lowball" proposal.
In some instances, a homebuyer may submit a "lowball" offer in the hopes of acquiring a terrific house at a budget-friendly price. If a home seller cannot differentiate between a reasonable offer and a lowball proposal, he or she risks missing out on an opportunity to optimize the value of a residence.
An informed home seller should examine the prices of available houses that are similar to his or her own. By doing so, this property seller can see how his or her residence stacks up against the competition and map out the home selling journey accordingly.
Moreover, an informed home seller will mow the front lawn, trim the hedges and do whatever it takes to enhance a house's curb appeal. This home seller likely understands the importance of making a positive first impression on homebuyers, and as a result, will perform assorted home exterior improvements to help reduce the risk of receiving a lowball initial offer.
3. The offer does not correspond to the current state of the housing market.
For a home seller, it is essential to work with a real estate agent who can provide full details about the current state of the housing market.
A real estate agent can help a home seller differentiate between a buyer's market and a seller's market. Plus, this housing market professional can provide honest, unbiased recommendations about whether a home seller should decline an initial offer on a home.
Many real estate agents are available in cities and towns nationwide, and these housing market experts are happy to help home sellers in any way they can. If you employ a real estate agent before you list your home, you can reap the benefits of unparalleled guidance at each stage of the home selling journey.
There is no reason to settle for a subpar initial offer on your residence. Instead, consider a first offer closely, and you can make an informed decision about whether to decline or accept it.
The biggest area of your life that you need to understand before you buy a house is your own finances. Before you know what kind of house you can buy, you’ll need to understand your own buying power. While things like square footage, how many bedrooms you need, and finding the right neighborhood are important, you can’t go very far without some type of financing. While understanding how much you can spend on a property is one of the more serious parts of buying a home, it’s something that you’ll want to do. Knowing what you can spend on a home is a step to helping you land a home you love. If you understand your own numbers, you’ll know the chances that you have of an offer being accepted on a place you love.
The Elements Of Your Buying Power
Your Credit Score
This little three digit number has a lot of meaning behind it. This is the most basic piece of information that lenders use to determine your loan worthiness. The factors that influence your credit score include:
- Payment history
- How much you owe
- Length of your credit history
- Mix of credit accounts
- How much new credit you have opened
A low credit score is somewhere under 620. Having a score this low doesn't necessarily mean that you’ll be denied for a loan, but the type and amount of the loan you’re offered can be impacted. You’ll also face higher interest rates because of a low credit score. This means your mortgage could be considerably more expensive than if you had a higher credit score.
The 20 percent down as a rule of thumb actually offers many benefits to your buying power. This means that you’ll need 20% down of the purchase price of the home in cash. If you put this amount of money (or even more) down on a home, it eliminates the need for you to have to buy PMI (Private Mortgage Insurance). You’ll even be able to negotiate a lower interest rate. A large down payment may be especially helpful in competitive markets where there is a lot of buyer competition.
How Your Financial Picture Appears
Your assets and your debt-to-income ratio are also important factors in your financial picture that you present to the lender. Basically, all of these numbers let both the lender and the seller see how committed you are to buying a home. It is one of the biggest financial undertakings of your entire life. If you can’t show financial responsibility, then it may be a bit difficult for lenders to see that you’ll actually pay your loan back in a timely manner.
The better all of your financial numbers are, the more buying power that you’ll have. If your numbers are good, you’ll be able to afford more house. While it may not be the most exciting thing to look over all of your financial numbers, it’s a vital step in the process of your journey to home ownership.
Making a good first impression on prospective home buyers is the key to getting your house sold within a relatively short period of time. Once your house is on the market, you'll want to make sure any major flaws, aesthetic issues, and potential buyer turnoffs have been fully addressed before the first prospects walk through your front door.
Although serious house hunters often return for a second -- and sometimes third -- walkthrough of your home, first impressions determine whether they'll be back for another look.
Since time is of the essence and you may be on a limited home improvement budget, it's necessary to prioritize the projects that will have the most impact on the image you project. When it comes to making cost-effective decisions on preparing your house for showings, your real estate agent can provide helpful insights and objective advice. Seasoned agents can size up a property within minutes and identify ways to improve the look and feel of your home. Although every homeowner is going to have a different set of priorities and issues to deal with, there are a few focal points that would apply to just about everyone.
Curb appeal: To attract the maximum number of prospects to your home (and to put them in a receptive state of mind when viewing your house), it's essential that your property looks well maintained. In addition to having a manicured lawn and bushes that are neatly trimmed, your curb appeal also depends on the condition of your driveway, walkway, and house foundation. The appearance of weeds, cracked surfaces, and peeling or faded paint are sure to be seen as "red flags" to many people and will detract from the impression your home conveys.
Clutter control: Getting a handle on clutter in and around your house is a vital aspect of enhancing its appearance and marketability. Whether you're dealing with storage areas that are jam-packed to the hilt, too much furniture in your living room, or a front yard that's littered with bicycles, lawn equipment, toys and junk vehicles, clutter is a visual cue to people that "something is wrong here!" Clutter inside your house can cause rooms to look smaller and living space to appear as chaotic and uninviting. Even clutter in garages, basements, closets, and attics can send the wrong message to potential house hunters. On the other hand, uncluttered space is like "a breath of fresh air," and can go a long way toward winning over one or more interested prospects.
General recommendations: While everyone's situation is different and unique, cleanliness, proper room lighting, and basic home staging techniques can help maximize your chances for a successful showing. Applying a fresh coat of paint, where needed, also increases the eye-appeal of everything from your front steps and hallways to bedrooms, bathrooms, and kitchen areas. Thoroughly steam-cleaning carpets and refinishing faded hardwood floors can also be cost-effective ways to bring out the full potential of your home