Fall Decorating

Fall is here and it's a great time to decorate your home with natural accents and the wide array of colors found in the outdoors. Below are a few ideas on how you can make simple decorating changes to capture the essence of the autumn season.

By looking outside it's evident that the autumn season brings a mixture of warm and spicy colors — use these colors as inspiration when making changes to your home. Simply change out your summer-inspired fabrics for darker, more rich tones such as deep browns and oranges. Accent pillows are a fast and easy way to achieve this.

Centerpieces are also one of the easiest ways to make seasonal changes to your home. Try placing a basket with small pumpkins and gourds in the center of your table. Or, if you enjoy fresh flowers, spice it up a bit and add sliced apples or cinnamon sticks to the water, it's sure to wow your next dinner guests.

Small pumpkins and gourds can also be used in other areas of your home. Placing them on top of your mantle is an easy way to add fall drama. Take it one step further by creating a unique display on a coffee or end table.

However, don't just stop at decorating the inside of your home. Placing large pumpkins and mums on your front steps is a great way to welcome guests and add color to the front of your home. Autumn-inspired wreaths are also a fast and easy way to add interest to your front door. Whether it's colorful leaves or dried Indian corn, the possibilities are endless.

Just remember when decorating your home for fall, be creative. Keep in mind these tips and you will be on your way to having a warm and cozy home for the cooler months ahead

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Thanksgiving

In 1621, early settlers of the Plymouth Colony in Massachusetts held a one-time feast to celebrate their first harvest, which came to be known as the first Thanksgiving. Now, Thanksgiving has been declared an annual Federal holiday where friends and family come together to enjoy a day filled with turkey, football, fun and not to mention hard work.

Below are tips and ideas on how to make your holiday feast go off without a hitch.
The key to an easy and fun Thanksgiving dinner is planning and preparation. Cooking a large dinner for your entire family and friends can be a daunting task and a lot of hard work. However, it doesn't need to be. Start off by organizing the recipes for the dishes you will be creating and make a list of the necessary ingredients that you will need.

Next, prepare as many of the dishes as you can beforehand. This will reduce the time and stress you waste on the day of your feast. For those dishes that must be prepared on the day of your dinner, do as much prep work as possible. Vegetables can be cut or chopped a few days before and stored in the refrigerator. You can also premix spices or dry ingredients.
When your guests begin to arrive, don't be afraid to ask for help. Chances are they will enjoy helping and it will make for less time you spend in the kitchen and more time enjoying your friends and family.

The planning doesn't stop with dinner; remember to plan after dinner activities. Planned games and activities such as crafts or Thanksgiving-themed word puzzles will keep the younger kids entertained while the adults can relax and socialize.

Lastly, remember to relax and enjoy the day. Your feast will be stress free if you plan accordingly and stay on schedule. Just follow these simple tips and you will be on your way to celebrating a happy, fun and easy Thanksgiving.

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Furniture for your new home

Express Yourself
Furniture is an expression of your personality. You want to enjoy your furniture and be comfortable with it as well as have it fit your lifestyle. Whether you're looking for country cottage or urban loft style, make sure it fits you. If you don't love it in the store, chances are you won't love it in your home.

Color and Style
Furniture stores have hundreds of different styles, not to mention thousands of different fabrics and finishes. Therefore, it's a good idea to bring a list of what you're looking for. Along with your list, bring swatches of paint colors and fabrics to assist in color matching.

Size
Before you head to the store, measure your rooms and know the dimensions of the furniture you need. Nothing is worse than purchasing a piece of furniture and it not fitting in your room. Plan ahead and it will save you time and money.

Fabrics and Woods
Look at both of these aspects when purchasing furniture. Certain fabrics last longer and are more durable over time. Know that synthetic fibers last longer than cottons and are easier to take care of. Also, the type of wood used in the construction of each piece is important. Solid woods are a better alternative to Medium Density Fiberboard (MDF) and particle board.

Budget
Furniture can get expensive; however, you don't have to sacrifice style for price — you just need to shop smart. Look around for sales, but keep in mind the quality and be sure to buy the highest quality furniture that fits into your budget. This will eliminate the need to purchase more furniture in the long run.

Purchasing furniture can be made simple if you educate yourself before walking into the store. Remember these tips and good luck.


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Tax Levies

There were levies on the ballot yesterday, six were school levies and three were nonschool levies.

School Levies
Buckeye- Failed
Chippewa- Passed
Coventry- Failed
Perry- Failed
Springfield- Failed
Streetsboro- Failed

Nonschool Levies
Lafayette Township- Police- Passed
Mantua- Shalersville- Emergency Medical Services- Failed
Medina Township- Emergency Medical Services- Passed

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Property tax relief for seniors and disabled.

The Ohio General Assembly has enacted an expanded Homestead Exemption that will lower residential property tax bills for all seniors and qualifying disabled people by an average of $400 per year.

The new expanded Homestead Exemption will offer Ohio homeowners the opportunity to shield up to $25,000 of the market value of their homestead which includes the dwelling and up to one acre of land.

Seniors and disabled Ohioans who were not eligible must apply with their local county auditor by October 1, 2007.

You can look on the states website http://tax.ohio.gov/divisions/communications/homestead or you can contact the Ohio Department of Taxation.

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Choose the right paint color.

Choosing the right paint color means more than sorting through a few sample strips at the hardware store. Here are some tips to help you choose the right color:

Be patient. Paint is available in an infinite array of colors, and is the most versatile element of your room. Get ideas, but make the final decision after rugs, wallpaper and fabrics are finalized.
Study the colors. You'll find clues about the underlying tones of different shades of a color on a full sample strip of coordinated colors. Decide if the family of colors is the direction you're headed with your color selection.

Trim it out. Choosing an off-white or white shade for moldings, doors and windows is normally the standard choice. Consider a pale shade of color to coordinate with the walls. For a really striking look, try lighter walls and dark tones or bright colors for the trim.

Keep notes as you shop. It's a good idea to make a note on the back of the paint color cards, telling yourself the name of the store where you picked it up, and the paint brand whenever this information isn't printed there already.

Shed a little light. To get a true view of a paint color, try to look at it in many lights. Take the paint chip outside to see it in natural light. Look at it under an incandescent and fluorescent light.

Ask for help. For helpful paint advice, go both online or visit your local paint store. Tell the paint professional about the goals for your decorating project. Ask which paint products they recommend, and why.

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Home Inspections

If you're thinking of buying a home this summer, it's important to protect yourself and your investment with a home inspection. A professional assessment by a reputable home inspector will uncover any problems.

When writing an offer to purchase, you will want to include a request for inspection. I can change your offer to include that request. Once you go into contract, you will have the opportunity to bring in an inspector of your choosing. But if you don't have anyone in mind, I can provide you with a list of qualified inspectors.

An inspection will cost you several hundred dollars, so it is important that you are comfortable and confident with your inspector. Choose an inspector who can provide proof of qualifications such as certifications and memberships to home inspection organizations.

When interviewing inspectors, ask questions about him or her and the inspection itself. Examples of good questions include: What does the inspection cover? How much will it cost? Does he or she have references? How long has the inspector been in the business and how many homes has he or she inspected?

Depending on the size of the home, an inspection can last about two to four hours. The inspector should closely evaluate the siding, foundations, exterior brick, insulation, doors and windows, roof, ceilings, walls, moldings, porch, deck, electrical outlets, plumbing, water heater, furnace, air conditioning, garage, basement, septic tanks, driveways and sidewalks. Upon completion, you and I will receive a copy of the review. Remember that it is very normal to have a few small issues that need attention or repair. I can help you decide which, if any, of the repairs to ask the seller to handle or pay for, and which to handle yourself.

A home inspection not only identifies immediate needs, but it can also make you aware of any future maintenance issues. However, even after a home inspection is completed, it is still important to purchase a home warranty.
Contact me for more real estate advice.


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Renting vs. Home Ownership

A Qualified Mortgage Consultant Can Outline Your Options
Renters Have Much to Gain by Pursuing Home Ownership
By Brian Bushi, Home Mortgage Consultant,
Real Living Mortgage

WADSWORTH, OH – Buying a home vs. renting is a big decision that takes careful consideration, as most mortgage consultants will agree. But the rewards of home ownership are great. For many years, purchasing real estate has been considered an extremely profitable investment. It is an achievement that offers a sense of pride, financial stability and potential tax advantages.

Yes, there are certain responsibilities associated with owning a home. Landlords will often argue the benefits of renting, and for obvious reason. If you are renting, you’re helping them make their mortgage payment.

The numbers are staggering if you look at it this way. If you are paying $1,000 per month for an apartment, and you know your rent will increase 5% every year, then over the next five years you will pay your landlord $66,309. If you are currently renting a house, you may be paying much more than that each month. Either way, you gain no equity by shelling out this monthly housing expense and you certainly won’t benefit when the property value goes up!

However, if you were to purchase your own home or condominium, you would be well on your way toward building equity within that same five-year period. By choosing a fixed-rate loan program, you can have the comfort of knowing that your monthly mortgage payment will never go up. In fact, you would have the option of refinancing to a lower interest rate at some point in the future should interest rates drop, and this would cause your monthly mortgage commitment to go down.

In addition to building equity, there are tax advantages that come into play with home ownership. Depending on your tax bracket, owning a home is often less expensive than renting after taxes. Interest payments on a mortgage below $1 million are tax-deductible, and your mortgage consultant should help you evaluate the tax advantages of various loan scenarios, and share this information with your tax consultant to glean feedback on your behalf.

To find the loan program that is right for you, your mortgage consultant will need to evaluate your monthly household income, current assets and savings, as well as any monthly obligations you may have for credit card payments, car payments, child support, etc. These prequalification factors, along with the report of your credit score, will determine how much house you can afford and what interest rate you will pay for financing. It is also important to let your mortgage consultant know what your future goals are, because this will help narrow down which loan option is the best fit for your long-term needs.

There are many different types of loan programs available, including “low” and “no” down payment mortgage programs. These types of programs require the borrower to provide less than 3 percent of the loan amount as down payment. FHA lenders rule that the mortgage payment, including principal, interest, taxes and insurance (PITI) should not exceed 31 percent of your gross income, and the PITI plus other long-term debt (car payments, etc.) should not exceed 43 percent of your gross income.

Housing is an expense that takes a big bite out of the monthly budget. If you are a renter and feel that “home” is more than just someplace to hang your hat, think about the advantages of purchasing real estate. It may be time to take the step into building your personal net worth as a home owner.


Brian Bushi is affiliated with Real Living Mortgage, Bushi hosts Home Buyer’s Seminars which are open to the public, seating is limited. To reserve your seat at the next event, call 330-777-0676 to RSVP and obtain a free copy of Bushi’s Home Buyer Handbook.


# # #


SUBMITTED BY: Brian Bushi
LOAN OFFICER NAME: Brian Bushi
PHONE:(330)-777-0676
FAX: (330)-777-6076
EMAIL: brianbushi@wellsfargo.com


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Moving with Pets

Proper ID. Your four-legged friend should always have proper identification. Update your pet's tag with your new home phone number and address. You may also want to include your cell phone number in case your home phone isn't in working condition at the time of your move.

Find a New Vet. Before the move, start looking for veterinarians in your new area. You can ask your veterinarian to recommend a doctor or call the state veterinary medical association for vets that are near you. Be sure to obtain a copy of your pet's vaccinations and medical history for your records, but also for your new vet.

Know the Law. Be aware of any laws and/or regulations that are unique to your new location. For example, certain communities prohibit certain breeds or animals. You should check with the state veterinary medical association for state laws and with the city clerk's office in your new community for local pet ordinances that may affect your situation. If moving to an apartment or condo complex, the landlords or rental offices may also prohibit certain pets, charge fees to have them in the unit and/or set restrictions — perhaps requiring that all dogs are kept on leashes.
Make sure your lease allows them on the premises before you move in.

No Pets on Moving Day. Ask a friend or family member to take your pet during moving day. The noise and commotion of people coming in and out of your home carrying heavy boxes and furniture may be too startling for your pet. If you can't find anyone to take your pet for the day, put it in a safe place, out of the way. A lavatory or laundry room would be a good place.

Easy Ride. While transporting your pet in the car, be sure to have an adequate supply of food and water, and bring pet toys or grooming products — this will keep your pet comfortable and relaxed. If your pet is not used to traveling, take it on short trips before the move to get it accustomed to the car.

Safe TravelBe sure the crate or carrier that your pet travels in is in top condition and is labeled in multiple places. It's a good idea to tape around the bottom of the carrier. It will keep people from opening the door, and you never know if your pet will push or jump against the door and spring it open.

Pack Smart. Pack your pet's bed, some toys and food bowls on top so you can immediately access them when you arrive at your new home. Your pets may be uneasy about the new surroundings, but seeing familiar objects right away may help settle them.

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Summer Yard Maintenance

Let the Cleaning BeginStart your yard cleanup by getting rid of debris. Take a walk around and pick up any tree branches or large sticks. This will not only de-clutter your yard, but it will also make it safe for you to mow the lawn.

Prune AwayNext, prune those shrubs and bushes. You can use a leaf blower on your trees and bushes to remove any dead leaves or loose branches. Also, take a look around your yard for any bothersome weeds you can pull up. Don't worry about letting the debris fall on the ground, you'll be raking that up later.

Break Out the RakeDig out your old rake and make sure it's still comfortable for you to use (a rake that is too short can cause some serious back pain). You may want to lay an old sheet out on which to pile your debris — that will make for an easy transfer into the trash. Once you have the yard raked, pick up the sheet from the corners and use it to slide the trash into a bag.

Ready, Set, MowYou always want to get your grass looking its best, and a fresh cut always gives a yard the look of cleanliness. So whether you have decided to start with a new lawn or just patch your old one, mowing your lawn is a must. Be sure to mix up your mowing pattern to eliminate the chance of the soil becoming compacted, which inhibits the growth of grass. Help keep your grass healthy by giving it an early morning watering once a week.

Wash it OffRinsing off your home and driveway is an easy way to make it look clean. Use a power sprayer and begin by spraying your home, from top to bottom. Then use the sprayer to clear the driveway of debris and dirt. Streaky windows can be a nuisance, so before you wash down your house use a water-resilient product on your windows. That will make your windows resistant to water and dirt.


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The Closing

The closing is the final stage of a real estate transaction. When title is transferred and the deed recorded, the home officially becomes property of the buyer. Those involved at a closing typically include the buyer, seller, real estate agents for both sides and a title agent, which can be an attorney, or several attorneys depending on the area of the country. In some parts of the country, the choice of the title agent is up to the seller, and in other parts it's up to the buyer.

The title agent will review all the paper work with the appropriate parties, disburse all funds accordingly and ensure that documents are recorded properly.

When preparing for your closing, review your loan terms and your purchase agreement. I can help explain those to you if you have any questions. Also, prior to closing, conduct a final walk-through inspection of your new home to ensure all repairs that were agreed upon have been made and no items in your agreement have been changed or removed from the house.

Once at the closing, you'll be asked to read and sign several documents including the settlement statement detailing charges to the buy and sell sides, the truth-in-lending statement that states the annual percentage rate of your loan and other terms and conditions, the mortgage note that represents the buyer's promise to pay the lien holder, and the deed, which documents the transfer of ownership from the seller to the buyer.

Also at the closing, you must pay your closing costs, down payment and set up an escrow account for taxes and insurance if required by your lender. Closing costs typically include an appraisal fee, homeowners insurance, etc. They may also include mortgage points and other fees.

Closing costs are in addition to your down payment and vary from lender to lender. They typically make up 2 to 6 percent of the mortgage loan amount. If you want more specifics, your lender will provide you with a good faith estimate. Remember to pay with a certified or cashier's check rather than a personal check, and don't forget to bring your I.D. Most title companies will not accept personal checks for such large amounts.
Finally, don't forget to take care of those final moving details before you get your keys, such as changing your address, switching your utility accounts to your new address and lining up that moving truck.

Now you know what to expect at your closing, but if you want to learn more, contact me today.

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Tax Levies

The results are in for the many tax levies that were on the May 2007 ballet.

The big levy was for the city of Akron, which was an income tax levy, Issue 17. This levy which was advertised as money need to add additional police officers had alot of extra pork. If passed Issue 17 would have generated approximately $18,000,000 per year with only approximately $2,000,000 per year that would have been used for additional Akron police officers.

School Levy Results:

Alliance- Passed
Aurora- Passed
Brunswick- Passed
Buckeye- Failed
Canton City- Failed
Coventry- Failed
Cuyahoga Falls- Passed
Dalton- Passed
Green (Wayne County)- Passed
Hudson- Passed
Jackson- Failed
Louisville- Failed
Manchester- Passed
Marlington- Failed
Medina- Passed
Minerva- Failed
Northwest (replacement)- Failed
Northwest (renewal)- Passed
North Central- Passed
Orville- Passed
Perry- Failed
Rootstown- passed
South East (Wayne County)- Failed
Springfield- Failed
Stow- Munroe Falls- Failed
Streetsboro- Failed
Triway- Passed

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Earth Day

Buy new light bulbs
When it's time to buy light bulbs, opt for the premium fluorescents. They will shine a pure-white or buttery-golden light and can cut your electricity bill by 5%. These bulbs can range from $3 to $12.

Have a barbeque
Outdoor grilling doesn't just result in a tasty burger — it's also good for the air. Outdoor grills use less energy that your electric kitchen stove and also keep heat out of the house; therefore, lowering air conditioning costs. Choose a grill that uses propane or natural gas because they emit 5.6 pounds of carbon dioxide per hour whereas a charcoal grill emits 11 pounds!

Brew coffee with an energy-efficient coffee machine
The energy-efficient coffee machines brew coffee at the exact temperature recommended for coffee; therefore, it doesn't waste any extra heat and you'll never have burnt coffee again!

Buy a flat screen monitor
The old, bulky monitors not only take up space, but they also increase your electric bill. You'll save money by switching to an LCD flat-panel model because a flat screen uses as little as a third of the electricity as the conventional tube-based models. You should also consider this when shopping for large-screen TVs — the savings are in the LCDs and rear-projection models because they use less than half the energy of plasma TVs.

Clean-up with recycled papers towels
Next time you're in the paper good aisle, throw the recycled paper towels into your cart — they're cheap and environmentally-friendly.

Become an expert recycler
Local recycling practices may vary, but there are a few universal rules that you can follow. First of all, shopping bags never go in your recycling bins. Look on the bottom of your plastic items for a number and only put the items with a one or two in your bin. Second, don't put light bulbs, broken glass or bits of food into your bin — they slow up the process and make waste professionals feel like they've been tossed to the curb.

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Landscaping Tips for Your Home

Create a plan
It's the classic statement of think before you act. Creating a well-thought-out plan and design will save you time and money and even reduce stress.

It's about quality, not quantity
When it comes to materials or contractors, don't go for the cheap stuff. Flimsy construction will end up costing you in time and money to correct mistakes.

Preserve existing landscape
Think about other uses for structures or plants before you dig and tear down. For example, a crumbling concrete sidewalk can easily be turned into a stepping-stone path or garden edging.

Go organic
Using organic matter like compost, rotted manure and chopped leaves is said to be one of the wisest landscaping investments possible — it's inexpensive and will improve your existing soil.

Do it yourself
Get your hands dirty! It will save the cost of hiring a professional and you can take pride in your work. You can also hire neighborhood kids to shovel or lay sod — they are probably in need of extra cash and it will be easy on your wallet.

Use the experts
Visit your garden center and ask them about what will be the best plants to plant in your garden and learn how to take care of them.

Avoid the impulse buy
An impulse buy is never a good idea when it comes to shopping for anything — so always keep your landscaping budget and plan handy when you are out buying materials.

Use your new garden to save on your grocery bills
Plant the fruits, vegetables and herbs that your family enjoys — it will make for a tasty home-cooked meal and will cut down on the bills.

For more home improvement tips, contact me today.

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Spring Cleaning

Spring cleaning is a great time to complete those chores you've been putting off all year — or in some cases, for the last few years. The process can be overwhelming at times, but if you create a list of projects and complete a few each day, the spring cleaning process can be quite manageable and even fun! Here is a helpful list to get your started:

Wash your blankets, comforters and rugs, and have your carpet shampooed and floors waxed.

Clean all walls, ceilings and woodwork, including baseboards. Repair any cracks in the plaster.

Empty everything out of the refrigerator and freezer. Throw away any unused or expired items and place the rest in a cooler. Scrub down all interior surfaces, including around the doors.

Clean and sweep under the refrigerator and other heavy appliances like your washer and dryer.

Empty your kitchen cabinets and closets, and discard any unused items or stale chips or cereal. While you're at it, organize your spices and put them in alphabetical order for easy access.

Dry-clean all curtains and draperies, and wash your windows inside and out.

Dust furniture, ceiling fan blades, light fixtures and window blinds.

Go through your closets and wash and pack away all out-of-season clothing.

Re-caulk tubs, showers and sinks. Also, fix your leaky faucets and remove any water or rust stains in these areas.

Tighten loose doorknobs, pulls on drawers and cabinets, towel racks, switch plates and outlet covers.

If you have a garage, clean it out. Create efficient storage for sporting goods, camping equipment and garden tools.
It's also important that you enjoy yourself during spring cleaning. Turn up your favorite music, open your windows for some fresh air and have fun! If you're looking for more cleaning or home maintenance tips, contact me today

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How Well Do You Know Your Car?

How well do you know your car? Here is some interesting information.

Premium gasoline is better for my car- in cars that don't require premium gasoline it won't increase the cars power or fuel economy only cost you more money.

Turning your headlights on during cold weather will help start the car- this will only discharge your battery. Have your cars battery tested yearly.

Permanent anti-freeze lasts forever- anti-freeze should be changed every two or three years.

Letting air out of tires in winter will give better traction- less air in tires will close the tread, make the tire less efficient and promote skidding.

Candle wax or soap will quiet a squeaking fan belt- the squeaking may stop, however the belt will slip and could cause other problems including a dead battery.

My car is under warranty, I am required to bring it to the dealer for service- to maintain your cars warranty you are required to service your car in accordance with the owners manual. This could mean a trip to a repair shop or performing the work yourself.

If I purchase a new or used car I have three days to return it to the dealer- there is no three day rule, once you purchase the car you own it.

Starting my car every few days will make the car last longer if I am not driving every day- letting the car idle will cause more damage than just letting it sit. Drive the car 30 minutes every three weeks.

I don't wear my safety belt- you should wear your safety belt, its documented that seat belts save lives.

I must change the oil in my car every 3,000 miles- check your cars owners manual, but today's car can go longer than 3,000 miles between oil changes.

How did you do?

Source AAA

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Help for Ohioans

The Ohio Housing Finance Agency will provide refinancing to homeowners facing mortgage foreclosure.

The program will begin in April and is designed to assist those Ohioans whose current mortgage loan is inappropriate for their financial circumstances. $100 million dollars will be available to homeowners who are on the brink of foreclosure.

Participants in the program will have to qualify through one of the OHFA approved lenders which are located in each county throughout the state. The program is for peole who lost their job or who are in mortgages where the interest rate is just to high. People with to much credit card debt won't qualify. Homebuying education and counseling will also be available for participants.

Ohio is 8th among the nations 10 highest states experiencing foreclosure. In 2006 one of every 59 Ohio households were in foreclosure. In 61 of Ohios 88 counties foreclosure filings have quadrupled over the last decade. Cuyahoga County ranked first in foreclosure filings per person. Other counties that were in the top 10 foreclosure filings include Montgomery, Summit, Brown, Highland, Mahoning, Marion, Clark, Lucas and Hamilton.

Ohioans interested in participating in the program should contact an OHFA aproved lender. Visit OHFA's Web Site http://www.ohiohome.org/

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April Events in Stow, Ohio

April 1- Palm Sunday

April 2- Passover
Indians Opening Day

April 4- Mayors Open Hours 5-7 pm

April 6- Good Friday
No school
Indians home opener

April 8- Easter

April 9- No school teacher conference

April 10- Planning Commission 7 pm

April 12- City Council 8 pm

April 14- Book donatoin day SMF Public Library
OPA Car Wash Dairy Queen Fishcreek 10-2 pm

April 15- National Library Week
Akron Symphony Chorus Concert Bernard Catholic Church 2 pm

April 16- 2006 income tax returns due

April 18- OPA Meeting High School Choir Room 7:30 pm

April 22- Family Series Concert Akron Symphony Orchestra E.J. Thomas Hall 3 pm

April 24- Planning Commission 7 pm

April 25- Book Sale SMF Public Library

April 26- Book Sale SMF Public Library
City Councial 8pm

April 27 & 28- Book Sale SMF Public Library

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April Events in Cuyahoga Falls, Ohio

April 1- Palm Sunday April Fools day

April 2- Paint Refunds Available 330-971-8140

April 3- Passover begins at sundown
Mayors First Tuesday 330-971-8200
Household Hazardous Waste Recycle Center Opens

April 6- Good Friday

April 7- Easter Egg Hunt Water Works Park 1pm

April 8- Easter

April 9- City Garden Plots Open to Applicants Thru Utility Billing Office at City Hall

April 16- City of Cuyahoga Falls Income Tax Due

April 20- Ballroom Nights Quirk 7:30pm

April 25- Administrative Professionals Day

April 28- Craft Shoppe Spring Boutique Quirk 9am

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Questions or comments write or email:

eugene.dougherty@realliving.com

www.realtyone.com/eugene.dougherty

YOUR Personal Guide to Real Estate

Guide For First Time Homebuyers Part 3

In Part 3 of our guide for first time homebuyers we will look at different types of mortgages that are available.

As you search for a mortgage keep in mind that the type of mortgage will often overlap. A mortgage consultant can best determine the loan to fit your home purchasing needs.

Fixed-rate mortgage- the interest rate remains fixed for the life of the loan.

predictable monthly payments of principal and interest throughout the life of the loan
protection from rising rates. as the market rates fluctuate your interest rate stays the same
good for borrowers who plan to stay in their homes for a long period of time

Adjustable-rate mortgage- the interest rate adjusts periodically to reflect market conditions on pre-determined dates.

low introductory rate which will adjust periodically base on a market index
borrowers are protected from steep increases in rates through annual and lifetime adjustment caps
the initial rate is usually locked in for different periods, one three, five, seven or ten years the rate will then readjust annually after the introductory period
due to the introductory periods lower rate, some borrowers may be eligible for a larger loan amount with an ARM than with a fixed-rate mortgage
appropriate for borrowers who may want to sell or refinance early, able to afford larger monthly payments after the rate adjusts

Jumbo loan- loans that exceed a specified size aka conforming loan amount

rates are generally higher on jumbo loans than on smaller comparable loans

FHA loan- Federal Housing Administration (FHA) insures the mortgage. this type of loan is designed to meet the needs of homebuyers with lower moderate incomes

low down payment requirement
loan limit based on geographic location
liberal qualifying guidelines
use of gift funds for down payment and or closing costs

VA loan- Department of Veterans Affairs guarantees mortgage for qualified veterans and active duty military personnel and their spouses who are first or second time homebuyers

low or no down payment requirements
wide range of rate, term and cost options
flexible qualifying guidelines
use of gift funds for closing costs

Alternative financing- programs that are designed for borrowers with less than perfect credit, excessive debt, previous bankruptcy, foreclosure or tax delinquency

No Documentation Loans- programs for borrowers who are self-employed on commission or whose financial situation may be difficult to document. this type of loan allows borrowers to apply for a loan based on their credit history and stated income

While shopping for a mortgage ask about points. A point is 1% of the loan amount. The more pints you can pay the lower your rate will be. Paying points is an option not a requirement.

Ask about the annual percentage rate (APR) and the interest rate. The interest rate determines the amount of your monthly payment, the APR adds in the other costs required to make the loan to determine your loans total finance charge, expressed as a percentage over the scheduled life of your loan.

Locking or floating. A lock will give you a specified period of time 30 to 120 days to protect from financial market fluctuations in interest rates by setting the range of pricing available to you.

A float will make your rate fluctuate with the market. Floating offers an option of locking at a lower level if rates should decrease. However, you could pay a higher interest rate if the interest rates rise before you lock.

Feels Like Home

Questions or comments write or email:
eugene.dougherty@realliving.com
www.realtyone.com/eugene.dougherty
YOUR Personal Guide to Real Estate