Steve Casey
RE/MAX Real Estate Center | 508-341-4464 | stcreal@aol.com


Posted by Steve Casey on 5/20/2019

If youíre hoping to buy a house in the near future, youíll want to focus on saving for a down payment.

Down payments are a way to let a lender know that you are a low-risk investment, and a way to save money on interest over the term of your loan.

If you have your other finances in order--a good credit score and stable income--thereís a good chance that making a 20% or more down payment will land you a low interest rate that can save you thousands while you pay off your loan.

How large should my down payment be?

The larger the down payment you can afford, the more money youíll likely save in the long run. While there are ways to get a loan with no or very small down payments, these arenít always ideal.

First, if you put less than 20% down on your home loan, youíll be required to pay private mortgage insurance, or PMI. These are monthly payments that you make in addition to the interest that is accrued on your loan.

So, if you donít put any money down on your home, youíll accrue more interest over your term length and youíll pay PMI on top of that.

What affects your minimum down payment amount?

Lenders take a number of factors into consideration when determining your risk. If youíre eligible for a first-time home owners loan, a veteranís loan, or a USDA loan, your loan can be guaranteed by the government. This means you can likely pay a lower down payment while still receiving a reasonable interest rate.

When applying for a mortgage, be sure to reach out to multiple lenders and shop around for the rates that work for you. Many lenders use slightly different criteria to determine your eligibility to pay a lower down payment.

Other things that affect your minimum down payment include:

  • Credit score

  • Location of the home you want to buy

  • Value of the mortgage

Saving for a down payment

Youíll get the most value out of your mortgage if you put more money down. However, if youíre currently living in a high-rent area, it could mean that itís in your best interest to get out of your apartment and start building equity in the form of homeownership.

If you want to buy a home within the next year or two, there are a few ways you can help increase your savings.

First, determine how much you need to save. Depending on your housing needs and the current market, everyone will have different requirements. Do some home shopping in your area online and look for homes that are within your spending limits. Remember that you shouldnít spend more than 30% of your monthly income on housing (mortgage, property taxes, etc.)

Next, find out what a 20% down payment on that home would be, adjusting for inflation.

Once you have the amount you need to save, remember to leave yourself enough of an emergency fund in your savings account to last you a month or two.




Tags: down payment   Mortgage  
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Posted by Steve Casey on 5/16/2019

Wonderful townhouse with great appeal. Fabulous East location across from Bird Park. Finished lower level and dorm type 3rd bedroom on top level. This is a beauty. Over 2000sf with finished lower level. 3 bedrooms and 2 1/2 baths make this a special opportunity at this price.

More Info on this Property | New Listing Alerts




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Posted by Steve Casey on 5/13/2019

The entryway to your home is probably quite small, but you can make the most of your space by pinning down what you really need there. Below, youíll find some items that you should try and keep around the entry of your home for both design appeal and organization purposes. 


A Place For Coats


When guests come to visit, itís welcoming for you to be able to offer them a place to hang their coats, rather than throwing them into a bedroom or on a chair. You can place coatracks on a wall for easy hanging, giving everyone open access to their coats when they need them. You can even place a coat rack along a stairway hall. This way everything from coats to bags to hats will all be in one place.     



Rugs


Having a weather-resistant rug available in the entryway of your home can help to keep dirt and grime off of the floor. 


Storage


Every entryway needs some type of storage for items like extra coats, shoes, umbrellas, even bags. You can use an inexpensive shelving system or go as fancy as using a dresser or armoire.


Seating


Itís important to have some kind of seating near the entryway of your home. This way, youíll have a place to sit down and put on shoes. Seating will also help make the entryway more comfortable. Make sure that the seating allows for a casual feel to add to the warmth of the welcome.


Flowers And Plants


Using flowers and plants in the entryway of your home gives guests that welcoming pop of color that will brighten their day. Itís one of the first things that guests will see when they walk up to the front door of your home, so youíll want to make a good first impression. Shoot for year-round plants that donít require a lot of maintenance and can be kept up easily no matter what the season.    


Good Lighting


Once you enter your home in the evening hours, one of the first things you want to do is turn on a light. This is one of the best features for your home to have safety and security when you enter and exit the house. You can choose any kind of light fixture that you want to accent your home in order to bring out the beauty. The only requirement is that you should make sure a light switch is always within an armís reach.


Make It Your Own


The most important thing that you can do for your entryway is to make it your own. You can add any kind of accents and features that you choose. The entryway is the first impression that people will get of your home, so make it count!




Tags: Decorating   house a home  
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Posted by Steve Casey on 5/6/2019

New place, new town, new everything. Now, where to find the grocery store and the parks. Additionally, think about all those places you will have to visit at least once to complete your move like the DMV and school district administration offices. Your map app on your phone can get you places but are they the places with precisely what you want and the quality you expect? That is where you need the insider's perspective to get the scoop on your new neighborhood. 

Not Your Momís Phone Book

Researching online can give you current reviews from actual customers and some insight into the services you are wanting. Chamber of Commerce website or the Better Business Bureau are also resources to use. What can help you is talking to people like your neighbors. If you are a pet owner, you can strike up a conversation with someone you see waking their dog about who they recommend for grooming services, pet supplies or even veterinarian services. 

Social Networking 

Maybe your online social network has connections in your new area, and they can direct you. Leverage any social clubs or civic groups you are part of, like college alumni or professional associations. You will be surprised how helpful having a network of people to ask can be. Everyone seems to have their favorite coffee place or corner bakery so don't be shy about asking for recommendations. 

People All Around You

New coworkers and your children's schoolmates and their families are excellent resources for discovering things about your new locale. Since you will be spending a goodly amount of time together, it should be relativity easy to ask about services like auto repair and maintenance or lawn care. You can get the scoop on the best pizza in town and where to go to get a deal on furniture. People you interact with during your day are easily accessible and an excellent source for insider information. While grabbing a bite to eat, ask your server about local entertainment or personal services. It helps to keep a list of any recommendations you receive, so you don't forget. You surely do not want to miss any sweet local places that may become your new favorite place to frequent. Moving is stressful enough, no need to blindly stumbling through services and products in your new neighborhood. Go ahead and make that personal connection, that will not only get you what you need but will help you quickly become part of the new community. 

Ask your realtor for their recommendations for living in your new neighborhood.




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Posted by Steve Casey on 5/2/2019

Wonderfully maintained Split Entry situated on flat and usable acre of land. Exterior recently painted. All new replacement windows throughout. Shining Hardwood through the main 1st floor. 2 year young high efficiency direct exterior vented boiler. Huge Mahogany Deck access through slider from Kitchen. Woodburning Fireplace and double skylights in Living Room.

More Info on this Property | New Listing Alerts




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