AUGUST 2021 NEWSLETTER
Monday Aug 09th, 2021Share
What You Should Know About Mortgage Points
Over the life of your loan, mortgage points could save you thousands of dollars, but mortgage points aren’t the right option for everyone. Learn some guidelines for when purchasing these points does and does not make sense.
What is a mortgage point?
Mortgage points are fees you can pay to your lender in exchange for a lower interest rate. They are typically paid in addition to your closing costs and are out-of-pocket expenses you would pay at closing.
When to buy mortgage points
Because mortgage points lower your interest rate, they have the potential to save you a lot of money over time. They can be a great investment if you plan to keep the house you’re purchasing long enough to recoup the cost of purchasing the points. Similarly, buying points makes sense if you’re refinancing your mortgage and plan to keep the house long enough to get the value of the points back.
When not to buy mortgage points
Having a low interest rate is good, but if you’re paying for that privilege, such as when you buy mortgage points, you have to make sure it’s worth it. If you plan to flip the home or move within a few years, you likely won’t save enough money to make the money you spend on points worthwhile.
Beware of These Summer Home Care Myths
Whether you rent or own your home, be sure you aren’t falling for these common home care myths.
Mowing your grass shorter will save time.
Mowing your grass too short can actually expose the grass roots to too much sun, which can burn your grass and encourage weed growth. The time you save mowing the lawn less often could end up going to weed control and attempts to repair your damaged grass.
Save energy by turning off the AC while you’re away.
Turning your AC unit off during the day and back on when you return home can actually put more stress on your cooling system and cost you more in electricity as your system works harder to decrease the temperature of your home. Instead, try turning the thermostat up a few degrees while you’re away or invest in a programmable thermostat that can automatically make the change for you each day.
You should water your lawn in the evening so the soil can absorb the water.
Watering your lawn in the evening allows the water to sit on your plants’ roots all night, which may lead to mold, fungi, and unwanted pests. Instead, try watering your plants and lawn between 6 am and 10 am as needed.
Thinking About Selling Your Home?
The safety of yourself, your home, and your family should always be one of your top priorities when thinking about selling your home. Make sure you take care of the following items before you invite the first potential buyer into your home.
Clear your desk.
Whether you work from home and have sensitive information lying around or have a home office for managing your bills and calendar, be sure any information you don’t want others seeing is locked away.
Check the locks.
Some people may incorrectly assume that a home that’s on the market is unoccupied and attempt to let themselves in. Whether they just want to look at the house or have worse intentions, you can prevent many crimes of convenience by making sure your door locks are engaged and in good working order.
Secure personal items.
Make sure any weapons, medication, identifications, and valuables are properly stored so that visitors cannot access them. This will help prevent theft, injury, and identity theft.
There are a lot of precautions you should take when buying or selling a home. Let me help make your journey less stressful. Give me a call to discuss your next move!