Kathryn Jean Keller

NMLS# 57801 • Mortgage Loans

The Do’s And Dont’s Of Making Your Offer More Competitive

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The Do's And Dont's Of Making Your Offer More CompetitiveToday, the housing market is more competitive than it has ever been in the past. You may have your eyes on your dream home, but how can you make it stand out from the crowd? There are a few tips that you should keep in mind. What are a few things you should do, and what are a few things you should avoid?

Do Get A Pre-Approval Letter

Because the housing market is so competitive, the seller is probably going to have many offers. The seller wants to make sure that the buyer they choose already has financing lined up. That way, they do not have to worry about the offer falling through. You can prove to the seller that you are making a competitive offer by getting a pre-approval letter. This letter will guarantee that your offer will be accepted, but a lack of a pre-approval letter can get your offer thrown out immediately.

Do Not Put All Your Eggs In One Basket

While you might have your heart set on a single home, do not put all of your eggs in one basket. Even if you do everything right, there is a chance that your offer will not be selected. Therefore, do not forget to take a look at other houses in the area, and be ready to put in an offer on another house if your first offer is rejected.

Do Offer To Rent Back

Keep in mind that it can take some time for someone to find a new home, so your offer could be more competitive if you allow the homeowners to rent back after they sell you the house. Essentially, this will give them an opportunity to stay in the house, even after you have purchased it, until they can find a new place to live. 

Make Your Offer As Competitive As Possible

These are just a few of the most important tips you need to follow if you are interested in purchasing your dream home. You need to do everything you can to make your offer stand out from the crowd, and that means you need to partner with a professional who can help you find the right house to meet your needs. 

 

The Top Reasons To Stop Renting And Buy Today

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The Top Reasons To Stop Renting And Buy TodayBuying a house can be expensive, and it can take a long time to save up money for a down payment; however, it might be time for you to stop renting and buy your own place. What are some of the top reasons why it might be time to put down some roots?

Your Rent Is Going Up

The reality is that your rent will go up with time. Every time you renew your lease, it can be frustrating to see that rent check continue to increase. If you are tired of your rent going up, get a mortgage. You could lock in the same payment for 30 years.

You Are Going To Stay Put For A While

Are you planning on staying put for a while? If so, you don’t have to worry about buying a selling a house too quickly. Go ahead and purchase a house! You are going to be here for a while anyway, so you might as well get a stable mortgage.

You Don’t Want To Pay Someone Else’s Mortgage

Did you know that you might be paying someone else’s mortgage with your rent check? Why not use that money to pay off your own mortgage? After all, there’s no reason why you should feel obligated to use your money to pay down someone else’s home loan.

You Want To Build Wealth

If you want to build wealth for yourself and your family, one of the best ways to do so is to own property. Your property should go up in value over time, and 100 percent of the capital appreciation is yours because the value of your loan will remain the same, regardless of the capital appreciation of your house. If you want to build wealth, owning property is one of the best ways to do so.

Stop Renting And Buy Today

Clearly, there are plenty of reasons why you might want to stop renting and consider buying a house. You need to work with an expert who can help you find the right loan option to meet your needs. There are attractive opportunities out there, so if you are ready to build financial wealth, consider buying a house today.

Why You Receive So Much Junk Mail After Closing On Your Home

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Why You Receive So Much Junk Mail After Closing On Your HomeCongratulations! You have finally closed on your home loan, and you are excited to get moved in. Or, you may have just refinanced your home, and you are excited to enjoy it. Regardless, all of a sudden, you start to get a bunch of junk mail in your mailbox. It can be frustrating to sort through everything, and how did they get your information in the first place? 

Where Junk Mailers Get Your Personal Information

First, there are a few locations where junk mailers may have gotten your personal information. Once your property deed is recorded, it goes into the public record. Anyone who goes into the public record can find your name, the name of your lender, your loan amount, and your address. This is what they use to send you junk mail, and it is why you get flooded with a bunch of mail as soon as you close on a home loan.

Always Check Your Mail Before Shredding It

Even though you are going to receive a lot of junk, some of it is going to have your personal information listed on it. You should always check to see if your personal information is on the mail, and if it is, go ahead and shred it. On the other hand, you must make sure you do not throw out anything important. For example, there might be a note about property taxes, or there might be information related to changes in your loan. Always screen your mail before you shred it.

Can You Stop The Junk Mail?

It is unlikely that you will be able to stop the junk mail completely. On the other hand, there are a few locations where you might be able to opt out of some of this junk mail. If you put yourself on the do not mail registry, you may be able to reduce the amount of junk mail you receive.

Talk To A Professional To Learn More

You need to understand exactly what is happening with your home loan before you close, and that is why you should reach out to an expert who can help you. They might even be able to provide you with some advice regarding how you can stop the junk mail from coming in.

 

Should You Consider Purchasing A Newly Built Home?

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Should You Consider Purchasing A Newly Built Home?If you have been in the process of looking for a home for a long time, you understand just how difficult it has been. You may have considered building your own house, but after seeing the bidding wars for land before you even start building, you may have crossed newly built homes off your list. Now, there are a few reasons why you should consider adding new homes back to your search. 

There Is An Elevated Supply Of Newly Built Homes

Right now, there is an elevated supply of newly built homes. Even though the overall inventory of available houses continues to lag behind, new single-family home inventory remains elevated. This means that builders may offer incentives to sell the homes they have already started building. They want to keep building homes, but they cannot do so until they sell the houses they have already constructed. They may even provide you with discounts on special features.

You Have Fewer Repair And Maintenance Expenses

Another benefit of purchasing a new house is that you will have fewer repair and maintenance expenses. Down the road, you may have to replace the hot water heater, the HVAC unit, and even the roof on your house; however, when a house is brand new, there is a much lower chance of something going wrong. That can free up money that you can spend in other areas.

You Customize The House To Meet Your Needs

Finally, if you purchase a new house, you also have the option to customize it to meet your needs. For example, you might want a bonus room that can serve as a separate area in which your kids can play. Or, you might want your kitchen to be laid out in a certain way. You may also want your garage to be large enough to fit multiple cars. Your builder may work with you to provide you with those specific features.

Consider Purchasing A Newly Built House

If you are having a hard time finding a resale home to meet your needs, consider working with a construction company to build your own house. It may be more affordable than you think, as builders may offer incentives if they have an oversupply.

Escrow And Your Mortgage: The Most Important Points To Know

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Escrow And Your Mortgage: The Most Important Points To KnowThere are many complicated terms thrown around regarding your mortgage, and one of them is an escrow account. You will probably hear that your lender will collect some additional money every month for escrow payments. If you take a look at your mortgage statement, you will see your interest, your principal, and your escrow. What does this mean, and why do you have to pay additional money that isn’t going toward the balance of your loan?

The Definition Of An Escrow Account

An escrow account is an extra account that your lender opens on your behalf to make sure certain expenses are covered. Because your mortgage investor has a lien against the property, the mortgage company has an interest in making sure your property does not fall into foreclosure. That means that you need to stay on top of all of your expenses, including those beyond your mortgage. 

What Escrow Accounts Will Cover

Generally, your mortgage company will open an escrow account that is used to cover your home insurance premium and your real estate taxes. Generally, real estate taxes and home insurance premiums are only billed once per year. If you get a large bill for several thousand dollars, you might not be able to cover it. If you don’t pay your real estate taxes, the government could foreclose on your house. Instead of asking you to pay thousands of dollars at once, your mortgage company will open an escrow account for you, collecting small amounts of money every month to make sure you stay up to date on your home insurance taxes and premiums.

How The Balance In Your Escrow Account Is Determined

If your mortgage company is collecting additional money every month, that means there is less money for you to spend. Therefore, your mortgage company is careful only to collect as much money as required. Your escrow account balance is determined by your property taxes and insurance premiums. During an annual escrow review, your mortgage company will see if the account has a surplus balance. If it does, you will get a refund for the surplus balance. Keep in mind that if your real estate taxes or insurance premiums go up, your mortgage company may collect more money in the future. 

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