Debbie Caniff's Blog
41 Doncaster Circle, Lynnfield, MA 01940
If you are thinking of refinancing your mortgage, there are so many options available to you that address your needs. Whether you want to do some home improvement projects or provide a down payment for another property refinancing can be a good option for you. There are many different options when it comes to home loans and refinancing. Below, you’ll find some of the most popular choices and what they mean for your mortgage and your finances.
A standard refinances requires that you have a certain amount of equity in your home. If you want to avoid Private Mortgage Insurance (PMI on the refinance, you need 20% equity in the home. Different lenders have different requirements for the amount of equity that you need in order to do this primary refinancing of your home loan. Keep in mind that a good credit score is also a requirement to do this type of loan.
Refinancing With Cash Out
This option is great when you need to take some of the equity out of your home. This way, you can get some of the equity out of your home without selling the house. This way, you’re able to refinance the mortgage, get a good loan term that’s affordable, and borrow a part of the equity you have built up in your home.
You can use the cash that you take out for just about anything you need including college, home renovations, business start-up costs, or to consolidate other debt you have. The only drawback is that you’re not able to borrow 100% of your equity. Usually, the highest percentage you’re eligible to borrow is 80%. The amount is based on both the equity you have built up in your home along with your income. Also, keep in mind that after you take out one of these loans, the amount of equity you have in your home decreases.
Short refinances may not be offered by all lenders. If you don’t qualify for a HARP loan or standard, refinance this could be a good option for you. If you hope to avoid foreclosure and are struggling to pay your mortgage each month, your lender may agree to the terms of this type of loan. The loan is in effect is a combination of a short sale and a refinance. The lender agrees to pay the existing mortgage off. The loan s replaced with a new mortgage. Beware that if you choose this option, your credit score may go down significantly. If you’re able to keep up with the new mortgage payments, you’ll be able to repair your credit score over time.
If you want to purchase a home, it may be beneficial to check out the residences available in a major city. In fact, there are many reasons to pursue a city house, and these include:
1. You can live near a variety of attractions and landmarks.
Most cities provide quick, easy access to attractions and landmarks. And if you purchase a city residence, you can explore a wide range of attractions and landmarks any time you choose.
Of course, it generally helps to plan ahead if you intend to buy a city residence. If you enter the real estate market with a homebuying strategy in hand, you can narrow your city house search to residences near your preferred attractions and landmarks.
2. You can upgrade or downgrade from your current residence.
If you find your current residence no longer matches your needs, don't stress. Houses are available in cities around the country so you can upgrade or downgrade from your current home.
Oftentimes, it helps to get pre-approved for a mortgage before you start to explore city residences. If you are pre-approved for a mortgage, you'll know exactly how much you can spend on a city home. Then, you can hone your city house search and speed up the homebuying journey.
3. You can find a residence close to family members and friends in the city.
If your family members and friends frequently rave about life in the city, now may be the perfect time to join them. And if you kick off a city house search, you can find a great home that allows you to live close to loved ones.
The city real estate market often fluctuates, and a housing sector that favors buyers today may shift into sellers' favor tomorrow. Thus, if you want to buy a city home near loved ones, you should allocate time and resources to learn about the local housing sector. Because if you have housing market insights at your disposal, you can differentiate a buyer's market from a seller's market and prepare accordingly.
As you get ready to launch a search for a home in the city of your choice, you may want to hire a real estate agent too. By employing a real estate agent, you can get the help you need to streamline your city house search.
Typically, a real estate agent will meet with you, find out where you want to reside in your city of choice and help you budget for the homebuying journey. He or she also will keep you up to date about city residences that meet your homebuying criteria. And if you find a city residence that you want to buy, a real estate agent will help you submit a competitive offer to purchase this home.
Simplify the process of locating and purchasing your ideal city home. Hire a real estate agent today, and you can receive extensive assistance at each stage of the property buying journey.
If you don’t have a dedicated playroom space in your home, you may feel as though toys and children have taken over. Toys, games, stuffed animals, coloring books, and crayons may be all over the house if children don’t have their own space to play.
It doesn’t have to be this way. There are a few options that you can use to let your kids have their space, and the adults have theirs. You don’t need to move just to find a home that has an area for kids to play. Read on for some ideas to help you stay stylish yet kid-friendly in your home.
Buying furniture that has a couple of purposes can be handy when you have kids. A coffee table with storage drawers can turn into a great place to store board games. An ottoman that has a storage component built in is a fantastic place to fantastic place to keep stuffed animals or action figures. When you have kids, finding ways to keep your style but allow children to play freely can be done easily with these types of furniture.
Turn An Ordinary Shed Into A Magical Place
No matter what part of the country you live in, you can buy a small outdoor storage shed and turn it into a playroom. You can install portable heaters or fans in the shed for comfort. This space can become your child’s playroom detached from the house with all the comforts of home. You might even consider a treehouse, but that may afford slightly less storage or possibilities than a storage shed.
Use The Corner Of A Room
Kids don’t have to take up the whole of a room. Consider giving little ones a corner of a room dedicated to their stuff. A small chair with a bookshelf and a few baskets of toys is all they need for a play space without fuss. Depending on the size of the room, you can even put a toy chest there for the playroom effect without the space.
Baskets are the next best things to furniture that has hidden storage. Baskets look pretty, and the contents are colorful, fun toys. There’s not too much wrong with this solution! You can even give the dog a basket for his toys.
Find Ways To Incorporate Kids Into The Rooms Of Your Home
You can get creative when it comes to living with children. Chalkboard walls. Tiny furniture and more items are available to make your kids comfortable yet creative and keep your home stylish. Consider a chalkboard wall that allows kids to change their artwork on the daily.
With a little creativity, your kids can feel at home without a playroom and without taking over the whole house.
There are a lot of effective ways to keep your home safe, secure, and free from intrusion, but those techniques are of little use if you don't consistently use them.
Technological solutions are well worth considering because they can be activated and monitored from almost any location.
Whether you're at a restaurant across town or comfortably lying in bed on a chilly night, the cost of a high-tech security system can be worth it, in terms of convenience, safety, and peace of mind.
If the cost or learning curve of using an automated home security system is outside your comfort zone, there are still plenty of simple and inexpensive techniques you can use to keep your family safe and sound. Regardless of the strategies you choose, it's better to err on the side of caution than to assume it'll never happen to you.
Change your locks: If you've just bought a new home or recently moved into one, having new locks installed on your doors is one of the cornerstones of a good home security plan. While some homeowners tend to be rather tight fisted when it comes to lending their house keys to friends, neighbors, housekeepers, and contractors, others tend to be quite liberal with the practice. Each time your house keys have been copied and passed along to people you don't know well (or at all), the overall security of your home has been compromised. If you're not sure which category the previous owner of your home fits into ("tight fisted" or "liberal"), then it would make sense to change the locks on all your doors. That way, you're eliminating the element of doubt and fortifying the secureness of your new home. It will also help you sleep better at night and increase the chances that only welcome guests will pass through your doors!
Get to know your neighbors: By maintaining friendly relations with your immediate neighbors -- especially those that live next door and directly across the street -- they will be more likely to contact you or the police if they see anything suspicious. If you happen to be chatting with neighbors and they mention that they're going away for the weekend or longer, they'll appreciate it if you promise to "keep an eye on their house" while they're gone. Hopefully, they'll return the favor when you're away for the day or out of town for longer. It's a good feeling when neighbors are looking out for neighbors, but -- as is the case with all relationships -- it does require some maintenance. More often than not, however, it's worth it!