10 Tuesday Oct 2017
Tags
Homes for rent in Livingston Parish, Rental, Rental properties in Livingston, Rental Properties in Walker
10 Tuesday Oct 2017
Posted in Helpful Information, News you can USE!
Regardless of what a lender quotes on mortgage rates, the actual rate a borrower pays is based on a number of variables. Lenders determine whether to loan money and at what rate based on the risk involved with the transaction.
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Factors that increase the risk that the loan will be repaid will proportionately increase the interest rate charged to the borrower. If the risk becomes too high, the loan will not be approved.
Any combination of these factors could limit a borrower’s ability to secure a mortgage at the rate initially quoted. Pre-approval by a trusted mortgage professional can be the best way to know what rate you can expect to pay. Please call for a recommendation of a trusted mortgage professional.
02 Monday Oct 2017
Posted in Helpful Information, News you can USE!, Timely Advise
Buyer’s mortgage pre-approval is good for everyone in the transaction. It saves time, money and removes the uncertainty of knowing whether the buyer will be qualified after negotiating a contract. The direct benefits include:
There is a significant difference in having a trusted mortgage professional take a loan application and run all the necessary verifications compared to going through calculators on a lender’s website. Beside the peace of mind, the cost of being pre-approved is a bargain and generally, limited to the cost of the credit report.
Even if a person has been pre-approved, a second opinion from a different lender may be a good option. It can verify there is a good deal or you’ll discover that you can improve it. Either way, it works to your advantage. Contact me if you’d like a recommendation of a trusted mortgage officer.
06 Wednesday Sep 2017
Posted in Helpful Information, News you can USE!, Timely Advise
The purpose of insurance is to shift the risk of loss to a company in exchange for a premium. Most policies have a deductible which reduces the amount of the claim that is paid by having the insured share in the first part of the loss.
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In the process of managing insurance premiums, policy holders often consider higher deductibles to lower the premium. Lower deductibles mean less money out of pocket if a loss occurs but also results in higher premiums. Higher deductibles result in lower premiums but require that the insured bear a larger part of the loss.
A small fire in a $300,000 home that resulted in $2,500 of damage might not be covered if the policy holder has a 1% deductible. If the homeowner can afford to handle the cost of repairs in exchange for cheaper premiums, it might be worth it. On the other hand, if that loss would be difficult for the homeowner, a change in the deductible could be considered.
Homes in high-risk flood areas with mortgages from federally regulated or insured lenders require additional flood insurance. However, each homeowner needs to assess the risk of being able to financially sustain a flood loss on their home when flood insurance is not required. The recent events in south Texas and Louisiana are evidence that the unexpected can happen.
It is important to review your deductible and discuss risks with your property insurance agent so that you’re familiar with the amount and make any changes that would be appropriate before a claim is made. The FEMA website has information and frequently asked questions about flood insurance.
02 Wednesday Aug 2017
Posted in Around Town, Community Interviews, Helpful Information
Tags
Livingston Louisiana, Livingston Parish Schools, Livingston schools, Montessori schools, The Church Academy Livingston, The Church in Livingston, The Church International
Team Sisters had the privilege to visit The Church Academy in Livingston and bring everyone a quick preview of what the new Montessori School will be offering the community and our local pre-school children ! Check out our visit and make sure to check on enrollment because they are filling up fast.
24 Monday Jul 2017
copy write http://www.knockknockmuseum.org/
Do you have children or grandchildren and live near Baton Rouge? Love looking for new and exciting things to enjoy as a family? Check out what is about to open in Baton Rouge. So exciting that we will have a children’s museum so close by. Opening August 22nd. Check it out below. Guy’s check this out? ….If you would like to see more post like this from Team Sisters click on the team page like button and follow us. We are so blessed to have so many following us. We are working on something new and fun to share with our local community, so you don’t want to miss it!! Team Sisters, Your Realtors for LIFE!
The museum will be open six days a week, Tuesday-Sunday. Admission will be $14 per person over the age of 1.
17 Monday Jul 2017
Posted in Helpful Information, News you can USE!, Timely Advise, Who New?
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In the late 80’s, both FHA and VA began requiring buyers to qualify to assume their mortgages. The main reason there haven’t been many assumptions in the past 25 years is that interest rates have been steadily going down and if a person has to qualify, they might as well do it on a new loan and get a lower interest rate.
Based on projections by Fannie Mae, Freddie Mac, the MBA and NAR, rates for the second half of 2017 and 2018 are expected to be higher. When interest rates on new mortgages are higher than the rates of assumable FHA and VA mortgages in the recent past, it becomes more advantageous to assume the existing mortgages.
FHA and VA loans originated with lower than current interest rates have great advantages for buyers and sellers.
An Assumption Comparison can help determine the savings and financial benefits of an assumable mortgage with a lower rate.
27 Tuesday Jun 2017
Posted in Helpful Information, News you can USE!, Timely Advise
Tags
Affordable Housing information, Baton Rouge Real Estate, home financing, home ownership, Housing Trends, Insurance claims, News you can USE!, Real Estate
If you haven’t heard of a CLUE report, it has nothing to do with the table game searching for a murderer. It is a report showing the insurance claims on your home and car for the past five to seven years.
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This database is used by insurance companies to evaluate risks and determine rates. C.L.U.E. stands for Comprehensive Loss Underwriting Exchange. Rates can be increased not only due to legitimate claims but data entry errors also. Sometimes, simply asking a question without filing a claim can be logged as a claim.
For that reason, similar to verifying the accuracy of your credit report, it is important to check out the CLUE report on your home and car. The reports are free and there is a process for correcting mistakes.
An interesting and sometimes costly surprise occurs during the home buying process. The claim experience of the prior seller could impact the price of the premium of the new buyer. For that reason, you can ask for a copy of the CLUE report on the home you’re interested in buying prior to writing a contract.
20 Monday Mar 2017
Posted in Helpful Information, News you can USE!, Who New?
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Will – this document specifies the way a person wants to manage and distribute his/her assets after their death. When a person dies without a will, the laws of the state where the person resided will determine the distribution of the property.
Durable Power of Attorney – this document grants to a designated person the authority to act on behalf of the principal in in legal affairs should the principal become incapacitated. Among other things, this would allow the attorney-in-fact to buy and sell property on the behalf of the principal.
Healthcare Proxy – this document grants that a designated person can legally make healthcare decisions on behalf of the principal when they are incapable of making and executing specific decisions stated in the proxy.
Living Will – this document directs physicians with respect to life-prolonging medical treatments in case they become unable to communicate their decisions.
Hippa Release – this document allows heath care providers to release your health care information to a designated person. Otherwise, they are required by federal law to protect the privacy of your health information.
Letter of Instruction – This document contains information and instructions about a person’s wishes upon death. It is intended to offer details on whom to contact and where to find important documents about personal and financial matters.
Requirements of these documents can vary from state to state and legal advice should be obtained. If you need a current estimate of value on real estate that may be involved, usually a price opinion from a licensed real estate professional will suffice. It would be my privilege to assist you with this at no cost or obligation.
10 Friday Mar 2017
Posted in Helpful Information, News you can USE!
Tags
Debt Free, home financing, home ownership, Mortgages, paying cash, Real Estate Listings, Real Estate News
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Before paying cash for a home, a buyer should decide if they might put a loan on the home in the near future. It may affect the ability to deduct the interest on a mortgage placed on the home at a later date.
Homeowners can currently deduct the interest on up to $1 million of acquisition debt which are the borrowed funds used to buy, build or improve a home. Paying cash for a home establishes acquisition debt at zero. The only deductible interest to the owner would be home equity debt which is limited to $100,000 over acquisition debt.
Paying cash certainly seems like a simple decision but it may limit a homeowner’s ability to deduct interest on a future mortgage. You can get more information about this from IRS Publication 936 or from your tax professional.
