by Rebecca Orlov on apartmenttherapy.com
One of the best things you can do as a renter is to treat your rental as your home instead of a 12 month contract. As a longtime renter, I've picked up some great tips - some practical, some emotional - when it comes to home sweet home. Try these to make yourself feel at home.
Change out the lights
Set the design tone in your rental by replacing the standard lights with new ones that fit your taste. Plus use lower wattage bulbs to create an intimate vibe in your home.
Live by the idea of "home sweet home"
Even though it's a rental, you are living there so take on the perspective that this is your home and place for you to enjoy, relax and unwind.
Save your boxes
Save yourself $40 or so and take apart your moving boxes when you are done unpacking and place them in a closet or under your bed.
Buy a toolbox
A small toolbox with a hammer, nails, screwdriver, etc is a great resource to have around when moving in and getting settled. For most projects around the house we need at least a couple of basic tools to get the job done. In our last place we had a lot of drawers in the kitchen so we could dedicate one to tools/picture hangers/nails/etc. In our new place we need to rely on a toolbox (and to be honest, the drawer wasn't great since we still had to do a lot of digging to find what we were looking for). Below we've rounded up some of our favorite no-nonsense toolboxes to help organize those things you use most for repairs and projects around the house.
Get rid of the "box" that you may keep lugging around with you
If you aren't going to unpack it, then you probably don't need it. Really consider what you are keeping in your home. If it's meaningful then find a place for it. If it's just stuff, consider letting it go.
Paint
For under $50, you can really design your space with great color ideas. Take the extra step and confirm with your landlord that you can paint and simply repaint when you are ready to move. If you are not allowed to paint, there are some great temporary wallpaper sources these days.
Use your walls
It's easy to fill nail holes (and many new hanging hardware doesn't require making holes!) when you leave so hang up your favorite pictures and artwork. Surround yourself with things you love.
Invest in pieces that you know you will keep
Along the ideas of home sweet home, invest in pieces that you love and you know you will use. Forget the idea of waiting until you own a place. Long after you leave your rental, you'll have these with you.
Unpack all of your stuff
It takes some people a while and some people no time at all but unpack all of your things when you move and really settle into your home.
by Ashley C., September 12, 2017 in Saving Money
Have you ever purchased an item and then a week later it goes on sale? You want to kick yourself for not being patient and waiting for the sale. You work hard for your money and you want to make it goes as far as possible. Paying your mortgage, car payment, car insurance and other miscellaneous expenses can consume a significant part of your budget. It’s important to find ways to make each dollar count.
There are many tools to help you navigate the web and find the best available deals. It’s also important to develop positive spending habits that can help ensure you are confident in the prices you pay for your purchases.
Shop in the Comforts of Your Own Home
Wouldn’t it be nice to have a personal shopper that could help you find the best deals? DealNews.com keeps their eyes on millions of products and finds the best deals possible. Their deal hunters update the site about 200 times a day with bargains they find from across all of the most popular retail sites.
The other great thing about this site is it takes you directly to the sale they reference. You can also customize a newsletter that sends you deals from retailers and items you are interested in. Just sign up and shop away.
Brad’s Deals shops 3,800 web retailers daily for the best rebates, sale prices, store rewards and coupons. You can easily navigate this website and set up a buyer profile with all of your favorite items. It makes finding a deal simple.
If you have found a deal you are excited about, make sure to check out RetailMeNot.com for coupon codes before completing your purchase. Every retail site has a promo code input, a lot of times you can find a code to use on this site. You can also subscribe and they will send you deals and promo codes for retailers you are interested in.
Ever searched online for a specific item? Do you notice that search engines like Google aggregate multiple sites with different prices for similar items? This is a feature called Google Shopping. If you are looking for a specific product and want the best price, this is a great place to start. It compares various websites to yield the best price offered.
Another great tool that allows you to compare prices is FreePriceAlerts. This is a plug-in you can add to your browser. When you are shopping on your favorite retail sites, this tool will automatically send you price comparisons from different sites. You do not have to register to use the tool but if you do, you can set a price you would like an item to reach.
Find Deals On the Go
Shopping may not be a priority. If you are in the market for a specific item, you can download several apps that will help you compare sites and find the best deal for the items you want.
One of the leading retail sites in the world has an app that may change the way you shop. Amazon has a feature that alerts you with price notifications. You can set up the app to watch a certain item and send you notifications when there is a change in its price. You live a busy life, it’s nice to have Amazon do the work for you.
ShopSavvy empowers shoppers to purchase wisely. Tell the app what items you’re searching and it will keep an eye out for the best price and major sales for your favorite stores. Scan the barcode of any product and you will instantly see several sites that are selling it online or locally.
If you want to try out another barcode scanner, RedLaser can be of service. Quickly scan any barcode and your item will appear with a range of prices from multiple sites. Within seconds you can find a price that fits your budget.
Adjust Toxic Shopping Habits
Beyond these countless tools, it’s also important to have positive shopping habits. There’s no point to using these tools if you have toxic shopping habits. Here are a few habits you may want to give up to make sure you don’t bust your budget.
Impulse buying –hopefully using these sites will eliminate the urge to impulse buy. Take your time to find a deal that will fit your budget. Online shopping makes impulse shopping simple. Take your time and make sure you really need the item you are looking for.
Buying just to buy – spending hours online shopping can fill your head with items you would never have considered buying. Just because it’s a great deal doesn’t mean it’s something you need to add to your household. It’s not a great deal if you don’t need it.
Using credit – it sometimes makes sense to use a credit card instead of your debit card. However, this could get you into trouble if you aren’t careful. Make sure your purchases are planned and fit within your budget. Also, be cautious about store credit cards.
Word of Caution
If you are surfing the web for the best deal, you want to ensure your information is protected. Check for security settings and make sure when you check out that you see a green lock, which indicates the site is secure. You also want to ensure that you completely understand each retailer’s return and exchange policies. You don’t want to get stuck with an item that is not up to your standards or is damaged when you receive it.
Now you have the tools you need in order to be a champion shopper. Now go find the items of your dreams!
by Kevin Graham, August 29, 2017 in Mortgage News
The qualifications for getting a mortgage are often changing. Sometimes the changes are good, and other times the news could be better. We’ve made some guideline revisions on Fannie Mae loans that should be welcome news for clients.
The change results in higher maximum debt-to-income (DTI) qualifying ratios. If debt has prevented you from qualifying in the past, or you could only buy a smaller house than you needed, it may be time to take a look at applying again.
We’ll go over exactly what’s changing, but before we get into that, let’s take a look at exactly what DTI is and how you calculate it.
A Quick Primer on DTI Ratios
When you apply for a mortgage, your lender will calculate your debt-to-income or DTI ratio in order to determine how much you can afford to spend on a house.
In a nutshell, your DTI measures what percentage of your monthly income goes toward paying on debt. This includes both revolving debt, like credit cards, and installment debts, which includes things like your car payments, student loans and house payment.
Let’s say you make $48,000 per year or $4,000 per month. Your monthly credit card balances are $500. You pay $800 in rent and a $300 monthly car payment. Finally, you have a $200 monthly student loan payment. Your total DTI is 45% ($1,800/$4,000).
The Impact of New DTI Policies
Now that you know what DTI is, what are the changes and how will they impact you? In the following section, we’ll discuss the changes.
Fannie Mae
Fannie Mae offers conventional loans requiring a minimum FICO® Score of 620. The mortgage investor recently changed its policies to allow for higher DTI ratios. There are many factors that go into mortgage qualification, but Fannie Mae now accepts DTI ratios as high as 50%. Previously, the standard maximum was 45%, and you could only go higher with strong compensating factors.
If you were on the edge of qualifying before, you may qualify now. If you did previously qualify, you may now be able to get a house in a slightly higher price range, potentially opening up more options.
It’s important to realize that DTI is just one piece of your approval process. Lenders, including Quicken Loans, will also look at all your income, assets and credit information. However, DTI is an important part of the puzzle.
