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Spruce Up Your Credit Before Reapplying for a Mortgage Loan

Have You Had Trouble Getting a Mortgage? Three Tips for Sprucing Up Your Credit Before ReapplyingIf you’ve had some trouble getting approved for a mortgage recently, you’re not alone. Many individuals face mortgage challenges due to past blemishes on their credit reports or a personal financial crisis that resulted in bills not being paid on time.

In this post we’ll share three quick tips to spruce up your credit before reapplying for a mortgage loan. With a bit of luck and hard work you can be on your way to purchasing that new dream home.

Pay Off Your Credit Cards And Lines Of Credit

The easiest way to improve your credit score and prove that you can afford your mortgage payments is to eliminate other forms of debt from your monthly budget. If you have outstanding credit card, student loan or other debts, get them paid off as quickly as possible.

You’ll also want to avoid taking on any new loans while you’re trying to get your mortgage approved as these are likely to show up on your credit report and can hurt your chances at approval.

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Meet Your Potential New Neighbors

Moving in to a New City or Community? Here's Why You'll Want to Meet the NeighborsAre you moving to a new community or a new city? When you find a new house that meets your needs and seems like a perfect fit, you’ll want to take some time to meet your potential new neighbors before you sign on the dotted line.

In today’s blog post we’ll share a few reasons why meeting the neighbors can help you feel right at home in your new community.

Your Neighbors Are Experts on Your Local Community

Whether you have questions about the area’s safety at night or you simply want to know where the best coffee shops are, you’ll find that your neighbors are an excellent source of information about the local area.

Spend some time thinking about questions that you would want answered before committing to buy in a certain area, and ask the locals after you’ve viewed the home. Yes, you could ask the seller, but remember that it’s their goal to get you to buy the home and you’re most likely interested in impartial answers.

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Negotiation Tips: How to Ask the Seller to Pay the Closing Costs

Negotiation Tips: How to Ask the Seller to Pay the Closing CostsYou’ve found the perfect new house or condo, and you are now preparing an offer that you believe the seller will find tempting enough to accept. However, you know that there are going to be thousands of dollars in closing costs that need to be paid before the sale is completed and you become the home’s new owner.

The question is, should you ask the seller to pay some or all of the closing costs? In today’s blog post we’ll address this question and list a few scenarios in which you may want to consider having the seller pick up the tab. Continue reading

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Home Selling Tips: How to Compete with New Construction for Home Buyers’ Attention

Home Selling Tips: How to Compete with New Construction for Home Buyers' AttentionAre you thinking about selling your house or condo? If you’re in a market that has a lot of newly constructed homes, you’re going to be competing with those listings for buyers’ attention.

In today’s post we’ll share a few tips that can help you attract buyers and convince them that your pre-owned home is just as good as a brand new one. Continue reading

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What’s Ahead For Mortgage Rates This Week – November 3, 2014

What's Ahead For Mortgage Rates This Week - November 3, 2014Last week’s economic news brought mixed developments as pending home sales moved to their second highest level of 2014.

The Federal Open Market Committee (FOMC) announced the expected end of asset purchases under its quantitative easing program. In its post-meeting statement, the committee noted improvements in overall economic conditions labor markets as indications of better than expected economic trends.

The Case-Shiller Home Price Index reports for August showed continued slowing in housing price gains. Mortgage rates were higher, but consumer confidence exceeded expectations. Continue reading

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Steps To A Low Monthly Mortgage Payment

Buying a Home? 4 Steps You Can Take to Ensure You Start out with a Low Monthly Mortgage PaymentAre you thinking about buying a new house or condo? If so, you’ve likely given some thought to your mortgage and as to how you can pay as little as possible in order to own your new home.

Below we’ll share four easy steps that you can take to ensure you start out with a low monthly mortgage payment.

Make A Large Down Payment On Your Home

The easiest way to reduce your monthly payment is to invest as much as possible in your down payment. The less you have to borrow, the less you’ll be required to pay back.

If you can put a sizeable amount down on your home you’ll find that your monthly payments are going to be very manageable. You’ll also save a lot of money in interest.

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5 Helpful Reverse Mortgage Guidelines

Buying a HomeRetirees with gaps in their long term budgets have the option to use the equity of their home with a reverse mortgage. These programs are loans that allow repayment to be deferred. Like any major financial decision, take time to carefully consider your options. Review the following five reverse mortgage guidelines, and let Century 21 help you prepare with the information you need.

Know the Eligibility Requirements

There are restrictions on who can apply for these loans. Borrowers must be of a certain age and are required to maintain permanent residence in their home. There are also restrictions on the types of properties that are eligible.

Know the Value of Your Home

The money you borrow is applied against the value of your home. Some borrowers run into trouble after failing to have their home properly appraised before accepting a loan. The full market value of your home will affect more than just the loan amount. It also makes a difference on the terms of repayment.

Know the Repayment Terms

The loan balance must be paid back to the bank when you are done using your home. This can occur whenever you die, move, or sell your house. Misunderstandings about the repayment terms have led to confusion about these programs. Reverse mortgage guidelines help to reduce the likelihood of errors in your lending program.

Know the Costs

There are often higher fees and interest rates associated with reverse mortgage programs. This is not a fact that is hidden. Banks must carry greater costs to make money immediately available to you. While some may criticize these higher costs, many still value the stable cash flow provided by these programs.

Know Your Rights

While a reverse mortgage is a good solution for many, unscrupulous lenders may attempt to take advantage of unsuspecting consumers. Make certain you know your rights. Understand the risk involved in borrowing against your home before you sign anything. Contact a legal professional to review any documents you are unsure about.

Information is always key to managing your personal finances. Follow Century 21’s reverse mortgage guidelines, and be prepared with the facts. To find out more, give us a call at [phone].

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Case-Shiller 20 City Home Price Index And FOMC QE Update

Case Shiller 20 City Home Price Index And FOMC QE UpdateAccording to the S&P Case-Shiller 20 City Home Price Index, Home prices rose by 0.20 percent in August. Three of the 20 cities tracked saw home prices drop, while Detroit, Michigan posted the highest price growth. The seasonally adjusted growth rate for cities tracked declined by 0.10 percent as compared to a decline of 0.10 percent in July.

Detroit led monthly home price growth with a gain of 0.80 percent. Dallas, Denver, Colorado and Las Vegas, Nevada posted gains of 9.50 percent as compared to July. Cities posting declines in home price growth included San Francisco at -0.40 percent, Charlotte, North Carolina and San Diego, California at -0.10 percent.

Home prices increased by a seasonally-adjusted year-over-year rate of 5.60 percent in August, which was the lowest reading since November 2012. Year-over-year home prices grew by 6.70 percent in July. August home prices were 16 percent lower than their 2006 peak.

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Princeville Golf Course Home

Kauai Golf Course Home with Mountain and Waterfall Views

This Princeville golf course home on Kauai has panoramic mountain and waterfall views. It is an impeccable, one of a kind custom home on the 6th green of the Princeville Makai Woods Golf Course. Complete “Designer Makeover” with renovations recently completed including all new interior finishes plus new exterior paint and a new roof – feels like a brand new home! This stunning golf course home has over 2,600 square feet of living area including the lanais.

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3 Reasons Why Setting Your Listing Price is the Most Important Aspect of the Home Sales Process

Three Reasons Why Setting Your Listing Price is the Most Important Aspect of the Home Sales ProcessHave you decided to sell your home, perhaps to make an upgrade to a newer, larger house? Whatever your reasons for selling, you’ll have a number of decisions to make as you craft your listing and begin receiving offers from buyers but few are as important as your initial selling price.

Let’s take a look at three reasons why setting your listing price is the most important factor in your home sale. Continue reading

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