Make Owning A Home A Lot Easier On Yourself


If you've gone through the trouble of obtaining a home loan and finding a house you really like, you will also want to keep the house for as long as possible and not have to worry about what your future will be like. That is actually simple to do if you plan ahead. Owning a home is one of those things that's a marathon, not a sprint, and if you start now, you can see that marathon proceed very smoothly.

Pay Down the Mortgage Early

You don't want to stress out your budget too much, but if you can, pay down that mortgage early. You'll save money because you won't have to pay as much interest over the life of the loan, and you'll eliminate a huge bill a lot earlier. You'll also eliminate a potential avenue for foreclosure because if you pay off the mortgage, you no longer have to worry about being late on that payment.

Be Aware of HOA Rules

Rules for HOAs can be tricky. Some issue summaries that put the important rules into a list format, but if you can, sit down with those full regulations and make sure you know them. You don't want to be surprised with a warning and then a fine (or worse, foreclosure, if the violations continue) for violating a rule. The regulations for HOAs can be lengthy, and it's understandable if you don't know every single one. But don't assume that the regulations will all fall in line with your beliefs. Take the time to do some reading.

Check Floodplain Maps

Location is a factor in choosing a home in more ways than one. Not only do you need the location to be good for you, but you also need it to be outside a flood plain -- and those often change. When you start your search, contact the city planning office to find out how you can see flood plain maps of the region. If your dream house is in a flood zone, you must get separate flood insurance. Your homeowner's insurance will not cover the damage from a flood.

Start cutting back on expenses now so you can build up an emergency house fund to cover repairs; if the fund gets big enough, use some to pay down the mortgage. Take this day by day, and eventually you'll find that you've paid back your home loan and have successfully resided in the area without having major issues.


20 December 2017

Know Your Options when Financing a New Business

When I began my first business selling sports equipment locally, I knew the sports-world well, and I knew how to run a business. One thing I did not know a lot about was the financial world. I had never applied for a loan in my life other than when I financed my car with the dealership in-house financing. My first application at a large bank was denied. I began looking into my other options, and I found that there were more lenders for new businesses than I realized. I applied at local credit unions, local banks, and other business lending services. I was able to secure more funding than I even expected, and my credit is just average. I created this blog to help other new business owners realize that there is funding out there. You just have to find it and apply! Don't give up on your dream.