Tag - mortgage

1
How To Prep Your Bank Account To Buy A Home In 2017
2
“Puppy Bowl” always a win for animal shelters
3
Open Houses in Margate, NJ by MARK ARBEIT AND CO.
4
I hate New Year’s Eve. Or rather, I hate what New Year’s Eve has become. Oh the pressure to have fun……
5
What’s Your New Year’s Resolution for the House?
6
2013 Housing Market Forecast, Now Is The Time to Buy!
7
The History of “Twas the Night Before Christmas”
8
Top 5 Holiday Movie Houses (and 1 Honorable Mentions)
9
‘Green Monday’ Becomes New Shopping Day For Procrastinators
10
November Unemployment Falls to 7.7 Pct. Now that’s Good News!

How To Prep Your Bank Account To Buy A Home In 2017

how to save money to buy a homeGetting your finances in order can help you buy a home in the new year.

This is it: 2017 is the year you will finally buy a home! But even once you’ve made the ultimate decision to make the leap into homeownership, your hard work is far from complete. Buying a home is a big commitment and costs a lot of money — and getting the mortgage you want at the best interest rate possible is enough to stress anyone out. Organizing your financial house, so to speak, can help reduce that stress and set you up for home-buying success.

Whether you’re eyeballing a home for sale in Jacksonville, FL, or a humble abode in Phoenix, AZ, you can take action to prep your bank account and savings to be ready to buy a home in 2017. So, if your goal is to nab the keys to a brand-new place, these six steps will help you get organized, stay on track, and fund your dreams.

1. Set a specific goal

It’s hard to make a plan of action if you don’t know where you want to go. Look at how much it will cost you to buy a home in 2017. What amount of money do you need to save for that down payment? Your best option is to save at least 20% of a home’s purchase price. This allows you to get better options when it comes to mortgages and interest rates, and it means you avoid the extra cost of PMI (private mortgage insurance).

Once you have the specific target number in mind, you can break it down by month. If you want to save a total of $20,000 before you buy, for example, you need to put away about $1,667 per month to meet your goal at year’s end.

2. Designate a savings account just for your down payment fund

You can stay organized by putting the money you save for this specific purpose into its own savings account. Online banks like Ally or CapitalOne360 offer great options, because they allow you to have multiple accounts that you can designate for specific goals. (CapitalOne360 allows up to 30 accounts without a fee!)

Online banks also tend to offer higher interest rates in the current low-rate environment than traditional, brick-and-mortar banks. But that’s not a hard-and-fast rule. Shop around and look for a bank (or credit union) that offers the best savings account option, with the best interest rate — and don’t settle for an account that charges you fees. There are too many no-fee options available.

3. Create an automatic transfer

You have your specific goal and now you know where you’ll put that money while you save. The next step: Set up an automatic transfer from your checking to that designated savings account. Setting up an automatic transfer is a great way of “paying yourself first.” You prioritize your savings by moving it into the designated account first. This means you won’t be tempted to spend that money like you might if it sat in your checking account for a while before you made the conscious decision, month after month, to transfer it to savings.

It also means you’ll make progress toward your savings goal even if you forget about it one month (or two). An automatic transfer means you won’t fall short of your goal at the end of the year simply because you forgot to move the money to the right savings account.

4. Revise your budget to cut costs

Depending on how much you want to save for a down payment, you may need to move a lot of money from checking to savings each month. This can severely limit your cash flow and leave you short in other areas of your budget. To prevent this, review your budget with your monthly savings goal in mind. Where can you cut costs so you can afford to save this much per month? Start by looking at your discretionary income. You don’t need to eliminate everything, but could you cut back on how much you spend to eat meals out, for example?

Don’t forget to evaluate your bills and living expenses too. While you may not be able to cut these costs entirely, you can take action to reduce them. Call providers and ask about discounts or lower-priced options. Every little bit of expense you can eliminate makes it that much easier to add to your savings so you can stay on target.

5. Allocate extra funds to your home-buying goal

In addition to freeing up money from current costs in your budget, you can allocate any extra money you make to your down payment fund. This can accelerate your progress toward your ultimate savings goal — and even help you exceed it. Put any kind of windfall toward your designated savings account. This could include overtime pay, quarterly or annual bonuses from work, or extra money you make on the side (but be sure to set aside funds to cover taxes on your added income). Allocate at least half of cash gifts to savings too.

6. Resist making massive transfers before you apply for a mortgage

You’ve worked hard to save up the money you need to buy a home in 2017. You know your home-buying budget, you’ve identified a lender, and you’re ready to apply for a mortgage. Now is not the time to do anything drastic with any of your bank accounts. Remember, when you apply for a home loan, the lender will carefully scrutinize all of your financial activity. You’ll need to explain the source of any large transfers and provide documentation for proof.

Talk to your lender about what kind of funds they’ll approve and what cash they won’t allow you to use toward a down payment. Ask what documentation or proof you need for different kinds of transfers. Doing so now will help you prepare to buy a home in 2017 and secure the mortgage you need to help you reach your goal.

– See more at: https://www.trulia.com/blog/how-to-prep-your-bank-account-to-buy-a-home/?ecampaign=con_cnews_digest&eurl=www.trulia.com%2Fblog%2Fhow-to-prep-your-bank-account-to-buy-a-home%2F#sthash.SpLdo8Dl.dpuf

 

“Puppy Bowl” always a win for animal shelters

There will be a winner and a loser every Super Bowl Sunday. But at the “Puppy Bowl,” it’s always a win for animal shelters.

The show provides national exposure to the shelters across the country that provide the puppy athletes and the kittens that star in the halftime show, and introduces viewers to the different breeds and animals that need homes, animal workers say. Many shelters see bumps in visits from viewers who are inspired to adopt a pet.

Click Here To Check Out…Puppy Bowl…

Open Houses in Margate, NJ by MARK ARBEIT AND CO.

I hate New Year’s Eve. Or rather, I hate what New Year’s Eve has become. Oh the pressure to have fun……

Much is said about Christmas being turned into a mess of commercialism and thing- hoarding. But hot on its heels is New Year’s Eve. Hollywood and everyone else has made a mini-industry of propagating the notion that Dec. 31 is a magical night full of expectation and promise (Thank you “When Harry Met Sally”). A night when anything can happen. A night when love blossoms unexpectedly, when your problems evaporate, when a ball in Times Square drops and your life changes in an instant. (Remember “Poseidon Adventure”)

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What’s Your New Year’s Resolution for the House?

January 1 provides us with a proverbial blank slate, but it often brings an accompanying sense of dread. It’s time for New Year’s resolutions, but instead of dealing with yet another diet or expensive gym membership, bring your resolutions home this year. Committing to improving your house (and we’re not just talking about de-cluttering) could drastically improve your quality of life

We want to know: What New Year’s resolutions are you making for your home?

Maybe you just want to enjoy your home more and feel truly happy in it. That could mean finally choosing a new color for the living room.

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2013 Housing Market Forecast, Now Is The Time to Buy!

Why the Housing Market Has Bottomed,
and How to Invest without Leaving Your Home

by Investment U Research
An Investment U White Paper Report

In case you haven’t noticed… the housing market is making a recovery.

Most investors still shudder at the thought of investing in real estate again, but it’s time to reconsider.

Here’s why:

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The History of “Twas the Night Before Christmas”

According to legend, Clement Clarke Moore wrote his immortal poem, A Visit from St. Nicholas, also known as The Night Before Christmas, for his family on Christmas Eve 1822

Christmas Eve 1822, Chelsea, New York. Clement C. Moore reads his new poem, ‘Twas The Night Before Christmas, to his family: wife Eliza, Margaret 7, Charity 6, Ben 4, Mary 3, Clement Jr. 2, and Emily 8 months. An original oil painting

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Top 5 Holiday Movie Houses (and 1 Honorable Mentions)

I love a good Christmas Holiday Movie. And here are my Top favorite Christmas Houses. Some made such an impression on me that my own home reflects their style.

#5. The Family Stone

This gorgeous home in Riverside, CT (above) was the home used in The Family Stone, a star-packed, romantic comedy featuring Sarah Jessica Parker. The 1860 colonial is the gathering place for the Stone family’s annual Christmas celebration. The 3,554 sq-ft house consists of 10 rooms — 5 of which are bedrooms — 3.5 bathrooms, and sits on 1.4 acres. With a classic, yet cluttered interior this house is the ultimate, well-worn home perfect for big holiday gatherings. When I see this lived-in home I so long for my Grandparents wonderful house in Ohio.

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‘Green Monday’ Becomes New Shopping Day For Procrastinators

Here’s the deal: If you have not shopped yet, call in sick to work. You will need the day.

If you have shopped, be careful, because this is going to make you mad.

The retail giants are unveiling even more sivings today. Go online to Target and the Lego sales are amazing.

Discount retail giants Walmart and Amazon are also offering plenty of great “Green Monday 2012″ sales and deals.

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November Unemployment Falls to 7.7 Pct. Now that’s Good News!

The economy generated 146,000 new jobs in November and unemployment fell to 7.7 percent, better than economists expected, despite worries that superstorm Sandy and the looming fiscal cliff would dampen hiring.

There are still 12 million people unemployed in the country, but the Labor Department said Sandy did not significantly affect jobs.

Many economists had expected employers to have added about 90,000 jobs, causing the unemployment rate to tick up slightly.

The Labor Department’s Bureau of Labor Statistics dialed back job gains for the previous two months. In October, the U.S. economy added 138,000 jobs, not the 171,000 reported before the election. The jobs added in September were also revised downward to 132,000 from 148,000.

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