Friday, August 29, 2014

Prepping for Fall

With Labor Day weekend comes the unofficial start to Fall.  Just as you begin to transition your wardrobe (no more wearing white!) - change up your home interior for the season's change with these quick tips below.

1. Update your throw pillows. Use decorate pillows to add pops of color in some of Autumns best hues - orange, gold, red or brown.

2. Bring out the blankets! If you've been storing your blankets and throws - now is the time to freshen them up and put them on display.

3. Light up your candles.  As the days get shorter take advantage of the instant ambiance of candlelight.  Use unlit candles as opportunities to show off more fall colors.

4. Change out your bedding.  Bring out the comforters and layers of blankets in preparation for cooler temperatures.

5. Spruce up the outdoors with seasonal plants.  Decorate your entryway with mums or hydrangeas. Use dried flowers, plants or branches inside to create natural works of art.

What do you do to dress your home up for Fall?

Friday, August 22, 2014

Housing Continues to Recover

According to the Commerce Department, housing starts increased by 15.7% in July - the highest level since November. This is great news for the housing market and overall U.S. economy.

Home construction in general rose 22% this year through July and applications for building permits increased as well - signifying potential improvement in months to come. Permits are up 8.1% which is the largest gain since April of 2013.

The National Association of Home Builders and Wells Fargo Housing Market Index reports that home builder confidence rose by 2 points. This is the third consecutive month that builder confidence has increased.

If you're looking for another reason to buy now, interest rates on conventional 30 year mortgages have dropped but are expected to rise again in upcoming months.  With rental costs continuing to rise, now is the time to think about whether buying a new home is right for you and your family.

Talk with Coastal Design Builders about building your dream home!

Thursday, August 14, 2014

Tips on Choosing a Mortgage Lender

Buying a new home is one of the biggest financial decisions families make in their lifetime. Choosing the right home though is only part of the process. It’s important to spend just as much time finding the right mortgage to ensure you are getting the best deal on your new home purchase.

In the points below, we break down the questions into categories from the legitimacy of the company itself, to the breakdown of rates, and where your money is going.

Questions about Lender:
1.    Are you licensed by the state and whom do you represent (bank, lender, finance company, etc)?
2.    Does your company hold loans or sell them to a third party?
3.    What different loan programs do you offer (VA loans, FHA loans, etc)?
4.    What is the average rate of your standard 30-year fixed loan?
5.    What additional fees does your company collect in addition to loan payments?
6.    How do you keep my personal information secure? Do you sell personal information to affiliates and other third parties? If so, what can I do to limit that sharing?
7.    What separates your company from other lenders in the same field?

Questions about the Loan:
1.    What is the interest rate of my potential loan? What determined that rate is right for me? What is the annual percentage rate (APR) of this loan?
2.    Is this rate fixed or will it change during its lifetime? If it will, by how much could it change? What is the average starting and ending rate for loans of this type?
3.    If my rate is locked, for how long is it locked? Are there additional fees associated with maintaining this lock?
4.    Are the taxes and insurance of my home going to be escrowed? Is this method mandatory?
5.    What are the estimated closing costs of this loan?
6.    When are my monthly payments and how much will they total to?
7.    Are there prepayment fees associated with this loan?

Asking these questions to potential lenders will give you a breakdown of each company and their offerings to ensure you can make an informed decision on your mortgage. Talk with our team of experts at Coastal Design Builders who can help you through the home buying process.