Joe Kulle and Katie Riley - Heritage Homes Real Estate



Posted by Joe Kulle and Katie Riley on 9/22/2019

Getting a new mortgage can be stressful, whether you are getting it for the first time or not. You have to carry out thorough research to avoid going into a mortgage that drains your pocket through high-interest rates. You can get yourself prepared for the lowest interest rate that is suitable for you by taking good care of your credit history. Do you realize that a difference of 1 percent in the interest rate can save a tremendous amount of money on a mortgage running for 30 years?Consider the following when searching for competitive rates:

Introductory rates:

You should consider loans with discounted initial rates. Be on the lookout for fees and be ready to switch in case the rate goes higher than your budget or plan.

Alternative lenders:

When looking for a low-interest mortgage rate, you should check if a smaller non-banker lender is providing a low-interest mortgage. When you find options, check properly to be sure that there are no additional charges. You must know the final amount before committing.

Variable versus fixed rates:

The difference between a variable and fixed rate is that variable loans usually advertise more flexibility and lower interest rates when compared with the fixed rate. However, the truth is that you can get a fixed-rate mortgage without any possibility of rising rates. Variable rates may tell you the percentage is likely to go down, but it can go up also! 

Negotiating a discount: 

After you have selected a mortgage company, inquire about their unadvertised discounts that can save you money.

Here are some tips to help you qualify for low-interest mortgage rates:

  • Get a loan with low fees. You should know that most mortgages have a separate charge that is different from the repayments and rates. Such fees sometimes are not included in most online loan comparison websites. Contact the company to be sure you have full information about one-time fees like application or origination fee as these may be expensive. Compare with other ongoing fees to be sure it does not cost you more in the long run.
  • Should you avoid fees at all costs? You do not always need to avoid fees. To know the amount that a loan will cost you, you should do the calculations and consider the benefits as well as the charges involved. If you discover that a mortgage loan has features that benefit you, it is justifiable to pay a small ongoing fee.
  • Save up a healthy down payment. It is worth noting that you are likely to borrow less to cover your home's purchase price if you have a substantial down payment. It is better to save enough funds towards your down payment.

Speak to your financial advisor or planner to know how to be pre-approved for the best mortgage rates before you start your house search.




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Posted by Joe Kulle and Katie Riley on 8/11/2019

Trendy lofts evoke visions of converted warehouses filled with artists and musicians living and working in shared space, forgoing modern conveniences for Bohemian communal living. Modern lofts, however, have more to offer than exposed brick, industrial elevators, and visible pipes. In fact, the term “loft” might appear in marketing for anything from remodeled warehouses to revitalized historic apartment buildings and newly constructed high-rises in urban areas

The appeal of loft living

No one demographic has the corner on loft living. Young professionals look for proximity to work, nightlife, and recreation while empty-nesters want to reduce the requirements for upkeep, yard work, and maintenance. In both urban and smaller community downtown/uptown settings, loft-style housing offers easy access to shopping, medical care, theatres, and public transportation. When the distance from work to home to recreation and nightlife decreases, the opportunity to experience events and socialize with workmates and friends increases.

An advantage of live-work loft-style housing is the sense of camaraderie and shared interests with the other residents.

Choosing a loft style

With the growth in popularity of loft living, actual warehouse and commercial loft conversions cannot meet the demand. Industrial lofts no longer make up the bulk of loft offerings on the market. So-called “soft lofts”—new construction in the style of a converted loft—has all the modern amenities, energy-savings, and conveniences of other newly-built housing that replicates some features and atmosphere of traditional lofts. These newer buildings take advantage of lower cost utilities with energy-efficient windows, insulation, and heating and cooling systems. Many soft-lofts install surfaces made from recycled glass, wood, and plastic or use renewable resources.

Different from the completely open-concept industrial loft space, modern loft models have built-in closets and walled bedrooms but typically offer completely open living spaces, high windows, and even exposed ductwork to give the loft aesthetic.

Another type of “loft” is the revitalized historic building. Sometimes it’s a hotel past its glory days. It could be a former library or office building. Perhaps an aging residential building needed a new life. If living in a bit of history appeals to you, this type of loft should be on your list. Typically, much of the original architectural detail remains including marble columns with decorative capitals, soaring ceilings, marble or hardwood flooring, vintage elevators, leaded glass windows, and sweeping staircases. New to these buildings you’ll find upscale appliances set in gourmet kitchens, upgraded bathrooms, and secure entries. 

To learn about loft conversions or soft-loft buildings available in your area, contact a local real estate expert.




Tags: homebuyers   home trends  
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