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Mortage

Living In Wagga Wagga: A Basic Guide

A lot of Australia’s sporting heroes are from Wagga Wagga. These include Mark Taylor, former Australian cricket captain. Paul Kelly, the AFL legend, and Peter Sterling, a great rugby league player, are also from Wagga Wagga. This is the reason it became known as the City of Good Sports.

This regional city is home to more than sixty-five thousand people. It is where paths cross and people tend to meet. Going around the region is easy with its major transport routes.

The name

Locals call the place Wagga but the proper name for it is Wagga Wagga. Locals derived the name of the city from the language of the Wiradjuri nation. It was the biggest Aboriginal tribe in New South Wales. The meaning of the word Wagga in Aboriginal dialect is crow. Repetition expresses the plural or connotes emphasis. Wagga Wagga means crows. It is the place where crows would assemble in large numbers.

Quick history

Captain Charles Sturt was the first to chart the waters of the Murrumbidgee River. That was in 1829. He passed by the future site of Wagga Wagga. His name is common throughout the city. People can see his name in the university and even in a motel.

Advantages

Housing in Wagga Wagga is very affordable. The quality of life and the country atmosphere are both great. People also get plenty of work opportunities. Almost all essential services are available in Wagga Wagga. There are many Wagga Wagga real estate agents willing to help those who want to settle down in the area.

Disadvantages

Located at -35.12 latitude and 147.37 longitude, Wagga Wagga can be very hot during the summer season. Although there are many transport routes, there is poor public transport.

Living in Wagga Wagga is great for professionals. There are many opportunities for employment in this regional city. Families with kids will also feel welcome. The place is safe and secure for families not to worry about the crime rate. There is a very low crime level in most areas of Wagga Wagga. Rates of serious assaults and murder are very low. Break and enters are a regular occurrence in some areas. There are also some vehicle torchings in a few areas.

Retirees enjoy the nature that surround the area. There are many accommodations in Wagga Wagga with amazing views from the window. The great landscape is very wonderful to look at no matter what time of the day it is. Country lovers also tend to move into Wagga Wagga. Another great thing about Wagga Wagga is that it thrives in arts and literary culture. There are many amazing places to visit showcasing these great things. Its being multicultural is obvious from its thriving and diverse restaurant culture.

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Mortage

What Are the Different Types of Mortgages?

Studying mortgage details is about as exciting as going to the dentist. Or to the grocery store on the day before Thanksgiving. But just like both of those things, it’s something you’ll have to do to participate in adult society, at least, if you want to buy a house.

And while you may not know it, you have choices when it comes to the types of mortgages you can sign up for. They aren’t one-size-fits-all, though the fixed-rate mortgage fits most.

Learn about the three most common mortgage types, who they’re best for, and the advantages of each in the quick guide below.

Different Types of Mortgages

What do we mean when we say different types of mortgages? Don’t they all have the same purpose? Yes, they do, but the rate, amount down, bank partnership, and payback structure can differ. Those factors will impact how much you pay back a month and the amount of equity you earn.

No matter what type of mortgage you sign, you need mortgage protection insurance. With that said, let’s start with the most common mortgage type.

Fixed-Rate Mortgages

When you have a fixed-rate mortgage, your monthly payments are the same every month. Your payment rate is determined at the time of purchase and it won’t increase or decrease, even if your credit score does.

Most people have 30-year fixed-rate mortgages, but you can ask for a 10, 15, 20, 40-year length as well, depending on your payback ability.

If you’re an average person trying to buy a home, this is most likely the best choice for you.

Adjustable-Rate Mortgage or ARM

While a fixed-rate mortgage’s interest rate doesn’t change over time, an ARMs does. An ARM is governed by trends in the economy and changes in the market. Commonly these are 5/1 type mortgages, meaning it’s a 30 year mortgage. For the first five years the rate will remain the same, and then it will change with the economy.

This is a good loan type if the market is bad when you’re buying but looking like it will improve in the coming years.

Federal Housing Administration Loans

The US Government wants people to buy homes. It’s good for the economy and it furthers the idea of the “American Dream”. But they know buying a house is a difficult process. So, certain groups of people at certain income levels can apply for an FHA mortgage.

It essentially has built-in protections if the homeowner is unable to pay the mortgage back at some point. If you can’t afford a large downpayment and you qualify for FHA assistance, then these are great loans for first-time homebuyers or those in a pinch!

Different Types of Mortgages for Different Homebuyers

Buying a house is a big life decision, which means you’re responsible for doing your research beforehand. We hope you have a better idea of what types of mortgages there are now, and which is the best fit for you.

For more information about exciting topics like this, bookmark our blog!

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Mortage

Busting 5 Common Canadian Mortgage Myths

If you have never tried to get a mortgage before, you’re about to enter a mystifying world full of legal jargon, high numerical figures and a whole lot brand-new terminology. When immersed in this complicated world, it’s easy to get confused. Some home buyers get so confused, in fact, that they mistakenly believe a myth to be truth. Falling into this trap can leave you on the hook for thousands of dollars, render you disappointed, or even cause your dreams of home ownership to fall to the sidelines indefinitely.

That’s why we have decided to introduce you to some of the most commonly-believed myths in Canadian real estate. By separating the fact from the fiction, you will be able to make a more informed choice as you move forward.

Myth #1: Pre-Approval is Guaranteed Money

Pre-approval is an important step to take at the beginning of the mortgage lending process, but it is not a guarantee of any kind. Mortgage pre-approval only shows what you qualify for with the specific lender, with rates that are only “locked in” for a brief period of time. Being pre-approved does not mean that you have been actually approved for a mortgage with the lender. You will still have to apply and face the possibility of rejection if the lender feels that you cannot meet their standard for clients.

Myth #2: If You’ve Filed for Bankruptcy, You Can Forget About Owning a Home

Did you know that there actually are lenders who specialize in dealing with clients who’ve declared bankruptcy in the past? That’s right! While many of these lenders might not be traditional banking institutions, they are just as legitimate and valuable to prospective home buyers. A mortgage broker can connect you to these resources so that bankruptcy doesn’t have to hold you back from having a home of your own.

Myth #3: Mortgage Brokers Cost Money

This is a myth often perpetuated by banks and those who feel in competition with the ever-increasing demand for mortgage brokerage services. The truth is that, in Canada, it is very rare for a mortgage broker to ever charge their clients. This is because they get paid by the lenders with whom they work when an agreement is made between a lender and a client – with the broker as the middleman.

Myth #4: Your Down Payment Must be at Least 20%

This is only true of conventional mortgages, which do not entail that you purchase mortgage insurance due to the high value of your down payment. However, there are a multitude of options available for prospective home buyers who have as little as 5% available for a down payment. These are referred to as high-ratio mortgages. Taking out a mortgage of this type is absolutely possible, but you will be on the hook for the additional monthly cost of mortgage insurance.

Myth #5: Banks Always Give the Best Rates

Banks thrive as mortgage lenders because they have built up a relationship with their customers. This loyalty sends their existing customers their way when they are interested in procuring a mortgage. In no way does this mean that you are guaranteed the best rate by being loyal to your bank. Mortgage brokers are the experts at finding the best possible rates for an individual’s possible mortgage, and they’ll often provide options that exceed what you could expect from a traditional banking institution.

The world of real estate is rife with myths that make it difficult for prospective home buyers to make the best decision possible. By knowing what some of the most common myths are, you can read between the lines and identify what’s true and what’s false.

You can read more about second mortgages here: https://askross.ca/second-mortgages-toronto-and-gta/

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Mortage

Can Home Improvements Be Added to the Mortgage?

Shopping for a new home can be a lot of fun. You get to walk through different houses, pointing out the strengths and weaknesses of each. You ooh and ah over the crown moulding, wainscoting, and granite countertops, and laugh at some of the strange design decisions that previous homeowners chose.

Unless you’ve hired trusted home builders to build your home from the ground up, you’ll rarely find the perfect house in which you wouldn’t change a single thing. If you’re a fan of HGTV and other home renovation channels, you probably have some lofty ideas about how to improve a home in order to make it your own. You might even feel ready for the challenge of taking on a complete fixer upper.

But before you dive into the design and building process, find out if you have the funding necessary to make improvements. Unless you have savings earmarked for this renovation plan, you might run into some obstacles in finding funding.

Mortgage lender rules

Many homebuyers assume that they can add the cost of their renovation to their mortgage, taking out a larger sum than the house is worth. However, you must defer to your lender on this matter. Most traditional lenders will not lend very much extra money with your mortgage loans.

Lender rules on this matter will differ, so call your lender and ask about their policies before picking out new flooring or kitchen appliances. Usually, they’ll tell you that they’ll finance up to 100 or 105 percent of the home’s value. So, if it was appraised at $200,000, but you purchased it at $175,000, you can ask for the difference and maybe a little extra to make updates.

However, if you buy the property at the value it was appraised at, your bank probably won’t lend you any extra money to make improvements. They want to protect their investment, and there’s no guarantee that you’ll use the money to add value to the property, like adding energy efficient windows or putting on a new roof.

Other lenders are more giving

Although traditional lenders tend to be pretty strict with their mortgage policies, there are other lenders and programs that will support additional renovation costs when you take out your mortgage. According to Bankrate, these options are as follows:

Fannie Mae’s HomeStyle Loan: You can buy a place that needs repairs or you can refinance your existing home with a new loan that has extra funds to finance your renovation. You’ll need at least 5 percent of the purchase price and a certified contractor must do the work on the home.

FHA 203(k) Loans: The Federal Housing Administration (FHA) loan programs make it easier for homebuyers with low credit or little savings to buy a home that needs refinanced. You only need 3.5 percent for a downpayment, and with a qualified 203(k) consultant, you can be granted funds to finish your renovation.

Home Equity Loan or Home Equity Line of Credit (HELOC): If you have an existing mortgage and you’ve been building equity into your home for some time, you can use the equity built into it to fund your renovation. The risk is that you’re putting your home up as collateral, so you risk losing the house if you don’t make your payments. However, it can be a great way to fund a renovation if you have a good history of paying your bills.

In short, there are options to add your home renovation to your existing mortgage, but you have to do it the right way. Consider all your choices and work with your lender to come up with a plan that’s mutually beneficial.

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Mortage

Why letting agents can save landlords money

Are you a landlord who’s looking to save money? You could benefit from the advice ofLiverpool Property Solution’s letting services, why not check out ourFree Landlord Guide today!When it comes to lettings, landlords tend to feel apprehensive about using the services of letting agencies. It’s understandable that you feel that you could lose money by using a letting agency, however, with LPS, our aim is to save you cash! Liverpool Property Solutions provide a tax efficient solution, providing you with peace of mind, and removing you from the firing line of tenants and local authorities, in those worst-case scenarios were a bad tenant moves or letting legislation changes.So, how can Liverpool Property Solutions help you save money?As a letting agency, LPS market and manage lettings on your behalf. The marketing of these lettings is honest and offers sophistication to your rental properties. With our local knowledge and wealth of expertise, Liverpool Property Solutions can help you to reduce the costs of your advertising.At Liverpool Property Solutions,we know the Merseyside area like the back of our hands so if you’re looking for letting services look no further than LPS! Likewise, if you need full property and financial management, our services are ideal.If you’re looking for peace of mind, you’re in capable hands with Liverpool Property Solutions, as we won’t only save you money… but provide you with expert assistance. So, if you require any advice or financial and legal support, LPS have you covered. The great benefit of using Liverpool Property Solutions, is that not only do we save you money on the marketing of your properties, but we locate suitable tenants for your properties, reducing the amount of time your properties may be vacant and therefore ensuring you receive a steady stream of rental payments. You can also trust us to only find tenants that meet the specific guidelines you set out, whether it be you only want professionals or families renting your property. Liverpool Property Solutions minimise voids, allowing you to let your property with ease. Whether you’re looking to reduce your tax bill or to avoid any penalties, you could benefit from using us!Why not make an enquiry today!

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Mortage

A Good Relationship with Your Mortgage Broker is a Must

There are a lot of things to consider when choosing a mortgage broker. Of all these, you must not forget about attitude. You want someone who knows a lot about mortgages but at the same time, you should be able to work well with each other.

Take note that the entire process takes a very long time. You can’t easily make a decision in just a week or even a month. Considering your personal requirements along with your financial capability, finding the right mortgage could be a huge challenge.

This is why you need a mortgage broker who can deal with you and be patient with you until the end of the process. Without a good relationship with each other, you might easily give up.

If your broker leaves you in the middle of the process or you decide to end your partnership, you will have to start over again. This could take a lot of time and effort. There might even be a point when you decide not to push through with your plans of buying a new property.

Make an appointment before closing the deal

It helps if you meet with your Mortgage Broker and have a little chat. This will help you decide whether or not you are making the right decision. You can gauge the broker’s personality and check if you are a match or not. You will easily feel it if you are a good fit. Otherwise, you might have to keep looking for other options.

Ask some questions if possible. Aside from the attitude, you also need to know whether the broker knows a lot about mortgages or not. You also want someone who can link you with the right bank or lending firm.

It takes a while to find the best broker considering the options available. It might take a much longer time until you find the perfect property to buy. You just have to take things one step at a time and remain patient.

A sweet victory

The moment you have found the best property and the right mortgage loan, you will be able to live in a new house. This makes it even sweeter. Imagine all the time that you have worked really hard to finally buy a property. This is your chance to make it happen. You will start a new chapter in your life with the people you love. Of course, you still have to repay the mortgage loan. The point is that you have already started the journey and you are heading in the right direction.

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Mortage

Post winter window replacement in denver

When you’re living in Denver, pounding hail and heavy snows can do a number on your windows. Beyond the obvious chips and cracks, severe weather also tends to cause problems with screens, glazing, and trim– all of which need to be taken care of quickly in order to ensure you’re not leaking heat out in the winter and AC out in the summer.

One of the worst things winter can do to your windows is generate mold. While many think of mold as a warm-weather problem, it’s actually prevalent any time moisture and oxygen spend time together. When you’ve been experiencing heavy snowfall, mold can multiply like crazy around your windows.

And, even if it was a winter without much wind and hail, you may still find that your window panes are cracking. Thanks to Denver’s bipolar weather patterns, swift changes in temperature can mean thermal stress cracks. Thermal stress cracks happen when the glass expands and then contracts due to the swift temperature changes.

Plus, if you have double-paneled insulated windows, those kinds of cracks can lead to condensation seeping between the panels. This serious problem calls for immediate replacement, though that work is sometimes covered under the product’s warranty.

What it all boils down to is that now that spring has sprung, you’re going to want to check thoroughly for any problems with your windows.

The first step is to check each one for visible condensation between panels. This problem won’t be hard to spot– once moisture seeps in it almost never seeps back out, so you’ll be able to find it easily.

Next check for cracks, fractures, and chips. Even the smallest line running through your window could lead to bigger problems if left unchecked, so it’s a good idea to get it replaced or repaired.

After that, inspect for mold. You’ll need to be thorough with this one. Check the whole window area from the inside and the outside. Open the window so you can check underneath and on the sides, as well.

Next, look for air leakage. This is the hardest problems to check for, as it requires a bit of environmental control. One of the best methodologies for finding leaks is doing a “smoke test.” First, close all of the windows and doors in your house and shut down any appliances that use combustion, like your furnace and your hot water heater. Then, turn on the exhaust vents in all of your bathrooms, and kitchen if you have one. This essentially creates a vacuum in your home, sucking any air it can from the outside. Finally, light up an incense stick and bring it around to all of the windows in your home. If the smoke starts moving away from the window, it mean that that window isn’t sealed properly and is letting in a draft. This can usually be repaired, but sometimes means a replacement.

If you’ve found any issues and are looking for window replacements in Denver, give JDI Windows a call for fast, professional services, and long lasting windows.

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Mortage

Interior Design trends in Denver

Spring is a busy season when it comes to house & home. Not only is it the perfect time to buy a new – or first time home, but it’s also the time when our bodies and minds crave a refresh.

From spring cleaning to redecorating, you can expect to be drawn to tidying up and redesigning your abode. Luckily, spring is truly a perfect time to implement interior design updates since new trends, products and materials have just launched for the year.

So what are the most popular interior design trends in Denver for 2017? Our Designer Premier team has assembled a list of 6 trends you should keep your eye on!

Organic Design

You may be wondering what organic design even mean in Shop the home décor products at Shoppers Stop. Essentially, it means a naturally-inspired quality that somewhat appears to flow. The trend we’re seeing is driven by rooms that have a feeling of ‘connectedness’ running throughout the layout.

Materials and furniture within this style will follow a natural aesthetic, such as wool, driftwood, reclaimed wood, natural stone, plants, glass and marble.

Rustic Chic
Speaking of naturally-inspired design, the ‘rustic chic’ movement is reigning in the Denver area. In this style, you’ll see anything from farmhouse doors being incorporated into kitchen and bathroom design to barnboard accents and exposed beams.

Rustic statements are a beautiful way to incorporate the natural beauty of Colorado into your home with a refreshingly cozy and comforting charm.

Screen-Free Rooms
The popularity of technology certainly isn’t losing steam, but in Denver’s trendiest homes, we’re seeing chic and formal rooms that are completely screen-free. Think back to the more polished front room – or parlor – perfect for entertaining, and save the screens for your casual family space.

A screen-free room is an opportunity to build a stunning and stylish room you will want to show off while entertaining guests at a dinner party. The key here is to build your room setup around a stylish piece art, instead of your technology
Monochromatic Pop

We’ve been stuck in this monochromatic color palette. Grey upon grey upon grey rooms have been driving the trend with grey walls and grey floors and grey cabinets and countertops. In 2017, it’s time to infuse a splash of color into this monochromatic monotony.

Think of a rich, warm accent color to offset all of that grey. Aim to minimize boring, but steer clear of noisy – shoot for a pop!

Large Format Tiles

Tiling has been popular in kitchens, bathrooms and flooring for years. However, in 2017 we’ll be seeing more and more of a different style of tile – large format.

Large format tiles, particularly in a long corridor, larger room or on a statement wall in a beautifully designed bathroom provide a sleek and very ‘current’ look to your rooms. Particularly in bathrooms and kitchens, pairing drastically different type sizes, such as large format tile on the wall and very small format tile on the floor can provide dynamic contrast to the room.

Dramatic Textured walls

Dramatic textured walls have been making their rounds around many of the chicest homes in Denver. However, this interior design element is not for the faint of heart. Often, some serious work could need to go into planning a dramatic textured wall – but boy is it a statement! Think of something you’d see in a bold and high-end lobby of a chic hotel or office building. Dramatic textured walls make major statements and are beautifully geometric or artistically-inspired.

If you’re interested in freshening up the interior design in your Denver based home, contact Designer Premier for a consultation.

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Mortage

Essential Steps To Get Preapproved For a Mortgage

Getting a preapproved mortgage is just the first and the most important step that can help you land to a contract for the house that you had been desiring to buy for a longer time. With this at your hand, the sellers will take your offer more seriously than ever. The process would become fast, smooth and a must-have in several markets where there are several offers for the housing deals.

Now, What Is A Mortgage Pre-Approval?

If you are not aware what pre-approval is then you should know that it is a form of commitment from the lender to offer you home financing up to a certain amount of the loan. This is basically the stamps that certify you about having a credit facility, credit history and all other documents that are essential for buying a home. If you do not know how to get preapproved for a mortgage?, then you can follow the steps given below to get the approval.

Get The Credit Score As Per Requirement

While you are getting a loan, no matter what loan is it the credit score plays an important role. They should not have delinquent payments in the last 12 months of payment. A score less than 680 would lessen the chances of getting an approval. If possible make some down payments against the loan. This will make the credit score a more accepting one. The borrower should prevent taking additional debts like buying a car for something like that in the months that would lead up to the pre-approval. If you understand that a credit can put the debt ratio over the edges then do not go for that.

Shop Lenders

Check a variety of lenders. This will help the borrowers choose the right mortgage plan with the help of a lender that they can trust. You can make a list of several of them and in this way, you can come to know the rates and terms before you can make a decision. The price of the lenders can also vary. They will help you choose a profitable plan for you.

Submit All the Financial Documents

If you are a borrower then you should get all your paperwork done. You should be ready to streamline the process that is the personal and business taxes W-2s of the last three years, the current pay stub. For any assets, there should be 2 months worth of bank statement and employment history worth two years.

Calculate The Costs

Once you are preapproved for the mortgage loan and there is a potential offer then it becomes necessary for you to calculate the purchase prices, fees, taxes for the total process.

When you know how to get preapproved for a mortgage then you would be benefited by knowing what exactly you are capable of affording, the problems will become easy to deal when you are in a time of crunch. It will also eliminate the chances of getting surprises after you have chosen a home for yourself. The process will become much smooth for you.

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Mortage

What To Look For In A Mortgage Broker

If you are about to buy property for the first time, you will need to get a mortgage. Mortgage brokers are the professionals who will mitigate the deal between you and the lending institution. There is often a lot of concern over the genuineness of the service when it comes to dealing with middlemen such as mortgage brokers. However, you may not be able to access a great deal as a mortgage broker Vaughan due to their vast knowledge of the business and lender characteristics. To avoid any problems, you should be very careful about your selection process and only choose to work with the best in the business.

Some of the things to look for in professional mortgage brokers include:

Information that is free and easy to understand

When looking for a mortgage agent, you can call a few firms and ask some questions about their services. This is a great opportunity to see the expertise and knowledge of the agent. It is also a chance to see if the agent is honest by explaining the confusing information and complex terms of home loans in a manner that is easy for you to understand. You should work with a broker who is willing to offer the right guidance to the best quality options for your financial situation. They should first listen, then ask questions and finally give their opinion. Anything else other than this order is unacceptable.

A good network of lenders

The work of the mortgage broker is to find you the best lender and lending terms for your home loan based on your individual case characteristics. In order to do so, they should have a broad network of lenders and financial institutions where they can present these options to their clients. Find out the kind of network the agent has for first mortgages, second mortgages, renewals, construction and refinancing among other lending needs.

Putting your interest first

One of the top reasons why anyone would go to a home loan lender is to find customization. The mortgage mediator should put your interests above all else when negotiating with credit agencies and estate agents among other professionals in the real estate world. Your agent should take time to understand your financial situation and your real estate goals and this understanding should reflect in how he/she handles your home loan needs.

Licensing and Certification

Many people have fallen victim in the hands of brokers who do not have proper licenses or certification. The licensing requirements vary from state to state, however, you should only work with professionals who can show evidence that they are legally authorized to provide brokerage services. Do not give any personal or financial information until you have validated this information about the mortgage broker.

When it comes to brokerage deals, it is highly advisable to look for professionals who have a physical address besides finding services online. It makes it easier to seek accountability in the entire process.