Many steps are included in the process of buying a home which can feel overwhelming. A good realtor can support individuals who are going through the steps of seeking to understand the process before getting pre-approval and making offers. Impound Account An account that is set up by the mortgage lender to pay certain property-related expenses on a persons behalf is called an escrow (impound) account. This is used for expenses like property taxes and homeowners insurance. Many mortgage lenders require an escrow account to insure the property is not at risk. Fees vary from year to year and generally are rolled into monthly mortgage payments. How Escrow Works Escrow accounts come into play with several home buying expenses like home buyers earnest money. If an offer is accepted then an earnest money check is deposited into the real estate brokers escrow account. The account is used for earnest monies only and other funds may not be mixed in with earnest money depo
A refinance could cut the monthly mortgage payment but whether it is the right move or not depends on some factors. Learn more about some things to consider prior to refinancing a home mortgage that could save time and money. Refinancing Costs Money A free finance does not exist as there are closing costs associated with any closing no matter what house a person buys. Anywhere from 2 to 5 percent of the loan amount will be added on and need to be paid upfront. Some options can also include: Cover the closing costs using a no-closing cost refinance which can come with a slightly higher interest rate Look at closing costs and how those will be covered prior to calculating how long it will take to make monthly payments to repay the closing costs If the closing costs will only be covered in four years and the plan is to stay two years in a home, refinancing may not make sense Savings Refinancing makes sense when the interest rate on a mortgage is more than 100 basis points abo
A small living room can be a challenge to decorate but there are ways to maximize wasted spots, tricky corners or areas that seem difficult to use. Learn some tips on how to get the most out of a living room space, no matter the shape or size of your new home. Up and Over The space above a doorway in the living room is often overlooked but it can be an important, even fun, place to utilize. When looking at this underappreciated spot, think of it as a handy place for storage. Think about using narrow shelving units above and down the sides of a doorway to maximize wall space. Maximize Slim Alcoves Clever storage choices are the way to go to ensure no space goes unused in a living room. Thinking creatively and outside the box can expand the space in a room while keeping clutter to a minimum. For instance, full-height cabinets may not work in a shallow spot so try a single row of closed base units that slightly extend into the room and use narrow shelving to display the rest.
Getting a clog in the bathroom sink drain is a pain but it does not signal the end of the world. Attempting to clear the clog without paying for an expensive fix-it expert can not only save money but build skills. There are a number of options for do-it-yourself cleaning solutions. Learn some tips to get started. Troubleshoot the Issue How to clear a clog depends on a few factors which include: How severe the clog is in the sink How far down the pipe it goes When assessing the clog, its best to go with the easiest solution then work up through the other options. Avoid chemical drain cleaners which may be caustic and damage the plumbing. Since many people opt for environmentally friendly options, there are plenty to choose from on the mark. Quick-and-Easy The first method a person can consider is plunging the drain. A plunger (usually a household staple) pushes the clog through the pipes. Other methods may only be able to get out part of the clog. A Zip-it, a drain-clearing
Kids will go through different phases as children progress from toddler to child, tween to teen. A bedroom becomes more than a place to sleep and play, it morphs into a space where homework is done, music is listened to (or created) and many other things happen with family and friends. It can be fun to create a space that serves all the necessary functions but is comfortable and inviting. Learn a few tips to minimize work on redecorating a kid’s bedroom yet create a space any kid will love. Consult Experts The ultimate experts on what kids like are the kids themselves. Get kids involved in the design process and let them pick out certain elements such as colors and themes to make it fun. Some other tips include: Including personal hobbies and interests Focus on decorating based on childs tastes Make sure the room fits both the childs needs and parents desires Basic color palettes that work well in any room can include black and white, pastels, neutral backdrops with acc
Commercials, renovation shows and other commercialization of real estate can give people a false impression of what to expect out of home ownership. A quaint historic house, cabin by the lake or beautiful home in the suburbs are all great aspirations. The idealized version is often different than the realistic concept of finding (and purchasing) the home of a persons dreams. Learn some tips to feel at home no matter where you may live. Meaning of Home Home can be best understood as a place to live, reside and put stuff. However, a home is more than that. It embodies a sense of comfortable, familiarity which many desire but it seems few achieve. Some people travel for work, are in military families who move frequently or spend less time at home than expected. Being between homes when things are tight can change the meaning of home when changing spaces with some frequency. Finding a creative way to cultivate a sense of home can be important to feeling that home is a place that r
Once a seller accepts an offer, the time comes to sign paperwork which seals the deal. What most Ohio home buyers dont realize is that a real estate process is complex with lots of nuances to the transaction. Learn some important things to keep in mind on the road to home ownership. Expiring Mortgage Mortgage interest rates may fluctuate daily. Rather than have the stress of the interest dial moving up and down, a bank will lock in an interest rate for 45, 60 or another number of days. Once this expires, a higher rate kicks in. Some issues that may come up as a result may include: Open permits Illegal renovations Roadblocks which require stop to loan process until resolution A previous homeowner may have done renovations that do not meet todays standards and require updating prior to selling. This can require hiring an architect and documenting the issue before a bank will approve the loan. Be cautious when using a rate-lock expiration as it may throw plans out the windo