Concept Mortgage

We are in the middle of winter and that means more time indoors and often in the kitchen. If you’re kitchen is the before part of a makeover show then here is our top ten list of things to consider before starting a renovation project. 1. Budget Before getting started set a budget! (Can’t you say this before starting every project? :) 2. Lighting... Gone are the days of dark cramped kitchens, make sure there’s plenty of light and consider a mix of light sources. 3. Walkways This one is especially important if you have or are planning on adding an island make sure there’s enough room to move around without the kids getting in the way! 4. Countertops This is a big one of course and with more options than ever. A great mid-range option is quartz which has the appeal of marble without the cost and upkeep worries. 5. Outlets Make sure you plan enough outlets for appliances, gadgets and maybe the thing you are reading this on :) 6. Panel Ready If you are doing a fancier reno, we love panel appliances. How clean does the paneled dishwasher look when it seamlessly blends in? 7. Ceiling Don’t forget to look up! Make sure the ceiling isn’t neglected and having some great light fixtures can really make the kitchen pop! 8. Storage This is another biggie you want enough space to store all the goodies and gadgets! Don’t put appliances in corners and make sure doors don’t bang into each other too! 9. Flooring Your grandparents linoleum floors are history today there are a ton of awesome flooring choices. 10. Appliances This one depends on your budget. The lux range looks great and is useful but be realistic too. It’s an investment, consider if you are going to stay in the house a long time and you’re a big chef are two key factors to consider! See more

Spring is traditionally the busiest home buying season but is it a good idea to close on a home during the winter? According to a recent ATTOM Data Solutions seven year market study, it showed that buyers who closed on January 26 actually got some of the best deals, paying market value in a competitive market while buyers in June paid close to seven percent premium above market value! An example of this in actual numbers would have a $300,000 house costing almost $25,000 more in June than January! Currently inventory is tight in most markets which applies upward pressure on pricing, and the spring buying season is likely to show this, however housing construction was up five percent last fall to help meet demand. Rates are also at record lows and if the economy rebounds their will be pressure on rates to rise.

Don't let zoning and use restrictions scare you off from investing or purchasing a property in historic or cultural districts. There may be some extra hoops to jump through, but these areas can be some of the most attractive hotspots in the area and still have the potential for nice returns even if you have less flexibility. #conceptmortgage

As we start the new year, mortgage interest rates are actually going down. Freddie Mac reported the average 30-year fixed-rate mortgage was down to 2.77%, which is nearly a point below the average of 3.60% a year ago! The forecast is for rates to remain low with some possible rising later in the year. We definitely recommend contacting us for a quick refinance analysis, we will give you a recommendation and tell you to how much you can save monthly, get cash out or both! And most of us can use all the extra spending money we can get nowadays. Call us or fill out our quick qualifier on our site and we will get back to you promptly with your options.

Today the second round of PPP is starting. PPP or Paycheck Protection Plan is the government assistance program to small business owners to help them weather the downturn caused by the pandemic. Applications for round two start on January 19, 2021 and even if you received money last time, you still may be eligible. Two key criteria are that you must have opened the business prior to February 15, 2020 and if you’re a sole proprietorship you must have shown a profit on your 201...9 tax return. How much can you get? First-time borrowers are eligible up to 2.5 times their monthly payroll or if you’re a sole proprietorship you can borrower up to 2.5 times the monthly profit. See this link for more info https://home.treasury.gov//How-to-Calculate-Loan-Amounts.p Do you have to pay it all back? Your loan can be forgiven if you follow the rules that at least 60% goes to payroll expenses and the other 40% goes to rent and utilities (in the new round expenses towards developing social distancing and following health mandates are also applicable). Reach out to us if you have any questions on this or other financing (remember refinancing is often still a great idea with today’s rates!)

If you find yourself having trouble making your monthly mortgage payments, it's perfectly ok to pick up the phone and ask for new terms. In fact - your bank would much rather have that conversation with you than have to threaten foreclosure. #conceptmortgage

The path of least resistance for renovating and revitalizing your new property is to follow the same building and zoning codes that applied to it until now. Working by the book doesn't mean, however, that there is no room for creativity - just that certain standards will need to be maintained. #conceptmortgage

If you feel as if your agent isn't fine-tuning your needs and desires for a new home, speak up! Better to re-communicate what you're looking for before it's too late. #conceptmortgage

With the COVID-19 containment measures changing our daily habits, one emerging trend is the rising popularity of single-family rental units. Talk with your agent to help start your search! #conceptmortgage

Quick-and-easy contracts are fine for those times when you are trying to get the deal done as quickly as possible and are not interested in overloading the agreement. Bear in mind, however, that the fewer details you negotiate over, the more you will be falling back onto these issues in the future. Make sure you cover all bases in any real estate agreements. #conceptmortgage