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EDITORIAL EDITOR: Dan Cook | editor@free-times.com | x133 CONTRIBUTING PHOTOGRAPHER: Thomas Hammond CONTRIBUTORS: Katie Alice Walker, Rodney Welch

A Snapshot of the Columbia Market Cover Photo: 630 Poplar St. in Cayce Photo by Thomas Hammond.

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PRODUCTION PROD. MGR.: Lisa Willis | lisaw@free-times.com | x121 DESIGNER: Joey Ayer | joeya@free-times.com | x150 DESIGNER: Matt Bradley | mattb@free-times.com | x145

Ten Home Décor Trends for Your Rental The Greening of Columbia

Regardless of What You Call it, Local Builders Are Getting Serious About Energy Efficiency

Home Renovation Starts with Good Planning and Good Insurance

Finding the Funds

Whether You’re Buying or Refinancing,

Rates are Still Low

ADVERTISING Ginny Kuhn, ginnyk@free-times.com, x 130 Jerry Viles, jerryv@free-times.com, x 140 Hyatt Drake, hyattd@free-times.com, 153 ADVERTISING ASSISTANT: Kayla Cahill • kaylac@free-times.com, x 123 CLASSIFIED SALES MANAGER: Cale Johnson • classy@free-times.com, x 131 CLASSIFIED ACCOUNT EXECUTIVE: Jessica Rowland, jessicar@free-times.com, x 141

DISTRIBUTION CIRCULATION MANAGER: Davey Mathias • circulation@free-times.com, x 152 DOCK MANAGER: David Alexander DISTRIBUTORS: Travis Bland, Tripp Bolius, William Clark, Bob Folts, Jerod Hunter, Dan Lucas, Charles McCarty, Chess Moorer, David Shealy, Dave Shuler, Don Turner, James Williams

BUSINESS OPERATIONS MANAGER: Jen Coody • jenc@free-times.com | x124

Easy Fall Propagation Techniques

Five Good Reasons to Replace Your Old AC in Fall

A 12-Month Guide to Getting Your Cuttings Ready for Spring

Advertisers in Free Times assume responsibility for the entire content and subject matter of all advertisements. In case of error or omissions in advertisement, the publisher’s sole liability shall be to publish the advertisement at a later date. Notice of error must be made within ten days of first insertion. Your first copy of Free Times is free, additional copies are $1 each, payable in advance at the Free Times office. Subscriptions are $55 for six months or $105 for one year; mailed bulk rate. Views expressed in Free Times reflect the opinion of the individual writer or artist and are not necessarily those of Free Times. Unsolicited submissions are welcome, but may not be returned. © 2013 Resorts Media. All rights reserved.

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nd e 2 k a Wind Your 1st Choice!

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2014 | free-times.com

Feels Like Home A Photo Tour of Several Popular Local Neighborhoods

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1930s Home in the heart of Cayce

hether you’re looking for a home in a downtown neighborhood or eyeing a place on Lake Murray, Columbia has a full range of housing options, including plenty of new construction and existing homes — all at generally lower prices than in much of the country.

PHOTOS & CAPTIONS BY THOMAS HAMMOND

With a home being a major life purchase, there are lots of factors to take into account: Do you want to be close to your job, or are you OK with commuting?

How important are the local schools? What price range is

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right for you?

Regardless of how you answer those questions, you’ll likely find a home in Columbia that will meet your needs — you just need to get out there and look.

Ashland Mills Subdivision in Lake Carolina

2014 | free-times.com

Buying and selling should be a super experience.

Put the super agents at Russell & Jeffcoat to work for you.

russellandjeffcoat.com

ROSEWOOD 502 Tyler St. $149,000

On a quiet corner in the heart of the Rosewood neighborhood sits a quaint two-bedroom home. The property has been beautifully maintained and features a number of upgrades: tankless water heater, thermopane windows, updated kitchen, fresh exterior paint, and paved stone back patio and porch area. This home’s proximity to a park across the street and its school zoning make it a perfect choice for young families.

FOREST ACRES

32118 Dennis Dr. $179,900 This remodeled bi-level brick home can be found on a quiet hill in Forest Acres. Updated features include refinished hardwood floors, renovated kitchen with granite countertops, custom cabinets, stainless steel appliances, and an eat-in area with a bar. Three of the four bedrooms (including master) are on the main level. The fourth bedroom and a family room are found on the renovated basement level.

The wooded backyard features a huge patio and utility shed.

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2014 | free-times.com

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Midlands Home Professionals (MHP) is a group made up of small local businesses that specialize in home construction, additions, remodeling and repair. We all take pride in our ability and desire to provide quality products and services and to treat people the way we want to be treated. With so much in common, we have joined together to promote our companies.

Midlands Home Professionals

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REAL ESTATE

Andrew Walters Real Estate Professional Gibbs Realty & Auction Co. Inc. C:803.414.0841 O:803.808.1260 107A Vista Lakes Dr. Lexington, SC 29072

WINDOW TINTING & AWNINGS Sun Shades & Graphics Jeff Carstetter 803.798.2665

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BATHROOMS 1759 Airport Blvd.

Cayce, SC 29033 803.794.4229

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ELECTRICAL Corbett Electrical Jason Corbett 803.687.0090

midlandshomepros

ELMWOOD PARK

2420 Park St. $249,900 This charming green brick home in Elmwood Park is perfect for those looking for a quiet neighborhood close to downtown. The three-bedroom home carefully conceals a lower level that holds a second kitchen and a separate entrance and is within walking distance of Earlewood Park. Updates to the property include granite countertops, new appliances, a new deck, and fresh paint. Park Street itself also features speed bumps that help keep traffic speeds to a minimum.

LAKE MURRAY

144 Cove Ct. $549,000

This two-story, fourbedroom beach-style home on Lake Murray is packed with features.

The main level has hardwood floors and the kitchen has been upgraded with custom granite countertops, lighting and fixtures. The master bedroom has the best views of the lake from inside the home and the bathroom has recently been renovated.

Downstairs is a complete suite with kitchenette, full bath, family room, and a private screened in patio. The property also includes a great dock and impeccable views of the lake.

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2014 | free-times.com

95-100% New Construction Financing Over 50 homes in the Midlands currently under construction.

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bankatunion.com/home/mortgages 2014 | free-times.com

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LEXINGTON

446 Bronze Dr. $253,160 The Enclave At Silvercreek features this newly built, five-bedroom brick home with “eBuilt� energy saver features by Essex Homes to help keep your energy bill to a minimum.

High ceilings and large windows help to maintain a naturally spacious living environment. A front porch and rear patio allow for ample opportunities to be outside. The cozy family room features a gas fireplace and the main floor bedroom can also serve as an office.

CAYCE

630 Poplar St. $209,900 In the heart of Cayce is this beautiful 1930s single-family home. The property is sizable and beautifully maintained.

The home itself was completely renovated from top to bottom, inside and out. Updated features include HardiePlank siding, thermopane windows, new insulation, new HVAC systems with duct work, as well as updated plumbing and electricity.

The kitchen includes custom cabinets, granite countertops, and a gas stove. One of the best features of the home is the large fenced in side yard complete with oversized patio, workshop shed, large deck and a fantastic playset for the kids.

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2014 | free-times.com

WARNING! DO NOT INSTALL A SECURITY SYSTEM UNTIL YOU READ THIS FREE REPORT: FREEALARMREPORT.COM

HOMEBUYERS MAY QUALIFY FOR UP TO

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LAKE CAROLINA 838 Parnell Ct $154,099 Tucked away in the Ashland Mills subdivision of Lake Carolina is this two-story, four-bedroom condo from Mungo Homes. This home features the latest modern amenities such as granite countertops, stainless steel appliances, separate bath and shower in the master bath, and open floor plan for entertaining.

The second story even includes includes an upper-level porch.

One major attraction of the neighborhood is its proximity to topperforming schools and great retail opportunities within Lake Carolina.

SHANDON

134 S. SHANDON ST.

$179,900

Think you can’t afford Shandon? This charming two-bedroom Shandon home dates back to 1916. But with modern renovations and a “park-like” yard, it feels as comfortable as any modern home.

Front and back screen porches provide great opportunities to enjoy outdoor Shandon living.

Inside, you’ll find beautiful hardwood floors, custom craftsmen shutters and a gas fireplace in the spacious living room. The kitchen features modern Bosch appliances. This cozy home is ideally located near topperforming schools and great retail outlets.

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2014 | free-times.com

Ten Home Décor Trends for Your Rental

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ust because you’re a renter doesn’t mean you need to settle for bland, boring décor. You can make more of your space in an inexpensive yet trendy way.

Don’t know where to start? Don’t worry. Here are 10 top home decor trends online real estate experts Homes.com and ForRent.com uncovered after surveying more than 140 home design experts across the country on the year’s biggest home trends.

Do-it-Yourself: Do-it-yourself projects save money and allow you to incorporate personality into your decor. For example, distressing old headboards, hutches, benches, and other wood furniture can enrich a room’s appeal.

Go Vertical: Nothing perks up a room like a fresh coat of paint. If your rental property prohibits painting, use temporary techniques to create a gorgeous visual landscape, such as your own artwork.

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Fall in Love with Floral: Make your apartment pop with floral patterns. If that’s overwhelming, keep it subtle with an accent pillow in the den or bedroom.

Mix It Up with Metals: Metallic shades are not just for appliance finishes. A great alternative to color, they can be used as accents, picture frames, vases, pillows — essentially anything you’re inspired to give a unique look.

Brighten Up: If your space is looking dull, brighten it up with a splash of color. Whether it’s the smallest objects or an entire wall, color accents can drastically change a room’s appearance, giving it that pop you’ve been looking for. This year, it’s all about purple — Radiant Orchid, the Pantone color of the year, to be exact.

Organize: The kitchen is often overlooked when it comes to organization. Storage bins and labels in the pantry keep snacks, condiments and other food items separate and easily accessible. A command center at the front of your home should include a place to keep keys, mail, sunglasses and the other things you need most.

Bring the Outside In: Plants add gorgeous depth and texture to a home. Incorporate different shapes, sizes, and colors for visual appeal.

Classic and Contemporary: If you lean towards a more contemporary style, include vintage pieces for an ultra-updated appearance.

These elements create contrast for a unique look — plus, you can find a lot of classic pieces for great prices at thrift stores.

Luxurious Lighting: Sometimes rentals can be less-than-luminous.

Add temporary decorative light fixtures so you aren’t left in the dark.

Play with Textures: Don’t buy all your furnishings from the same place. Instead, mix and match different textures and styles to create an intriguing atmosphere, rather than the cold, uniformed feel of a furniture store For additional decorating tips, visit the Idea Gallery at Homes.com. If you have your own décor ideas, use #HomeMoments to share them on Twitter. There’s no place like home, so take it from the pros — it’s worth the effort to make your rental property a great space.

SOURCE: STATEPOINT MEDIA

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when they hear it. “We’re kind of moving away from the word green,” he says. He prefers the phrase “high-performance.”

Who’s To Say What’s Green?

The Greening of Columbia

Regardless of What You Call It, Local Builders Are G etting Serious About Energy Efficiency

BY RODNEY WELCH

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A Builder-Driven Trend

ermit the Frog told only half the story.

It’s not easy being green, and it’s not easy defining it either — especially when the subject involves homes in Columbia.

“When you talk about green building, there’s a lot of different things you’re talking about at one time,” says Bin Wilcenski, chief operations officer at the Home Builders Association of Greater Columbia. “The word ‘green’ is partially to blame for that. It can mean many different things to many different people.”

“We focus a lot on energy efficient homes and ‘green’ doesn’t always necessarily mean that,” says Ashlie Lancaster, director of the S.C. Energy Office. “Green can

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“To be more precise,” Wilcenski says, “what we talk about when we’re talking about green is a certified program that a builder can follow and actually be certified as having put together a home that meets certain requirements.”

He cites the U.S. Government’s Energy Star program or the Certified High Performance (CHiP) Home Program of the Home Builders Association of Greater Columbia’s Green Building Council. Currently, the council lists more than 680 local homes that have met CHiP standards.

Of course, not all programs are created equal. Wilcenski says some certifications are more stringent than others– and people moving to Columbia from other, greener states can spot the difference.

“There are a plethora of organizations out there that have different rating systems that purport to be green,” says Jon Buzzell, vice-president for product development at Mungo Homes, “so depending on the different requirements and the different agencies or groups that are promulgating those standards, yes, it can mean any number of things.”

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also mean that it’s built with recycled materials, or sustainable forest products, things like that.”

For many building professionals around the city, it may just mean building to really high energy-efficiency standards set by a number of certification programs.

The G word has “just been dragged through the mud almost over the last few years,” says Columbia custom builder Stan O’Brien of Paradime Construction. He’s watched the eyes of consumers glaze over

Most people agree Columbia has lagged behind the green trend nationwide, and O’Brien says the gradual greening of Columbia isn’t market-driven.

“It’s only really due to the builder community actually getting more information in building homes better and more friendly to the environment,” he says.

Also, he says, the move toward energy efficiency has raised building codes. O’Brien says a lot of builders can now claim to be green just by doing what they must.

“That’s where the public is getting kind of confused,” he says. “All of the builders are going, ‘Well, I build green’ – really, they do, and it’s better maybe than yesterday’s homes, but it’s not anywhere near where my standard would be, or [where] the Green Building Council standard would be.”

The Bottom Line: Saving Money

What everyone agrees on is that the increased emphasis on green construction has been good for new homes, both by making them more energy efficient and competitively priced with traditional homes.

“Actually, building to Energy Star or even level one of a green program,” O’Brien says, “you can actually save money in construction.”

They generally lower power bills, which Robert Penny of Great Southern Homes says can be a huge selling point to people of average means.

“With the lower-priced homes, I think it probably plays more of a factor than with the higher-end homes,” he says.

A monthly power bill of $200 a month “for someone who can only afford a $800 house payment probably means a lot more than someone who can afford a $2,000 a month house payment.”

Bur costs can also vary widely. The money really goes up depending on just how inarguably green you want your house to be. Certification programs have levels of excellence ranging from Bronze to Platinum.

There’s also the HERS (Home Energy Rating System) score, which starts at a minimum score of 100 and then works backward; the maximum rating being net zero, which means the house doesn’t waste energy at all.

“You just have to choose your selections that affect your HERS score wisely,” Penny says. “There’s lots of things you can do that affect your energy rating very little but cost a fortune.”

So is the green movement here to stay?

“I think as long as a level of efficiency continues to provide value to customers, you’re going to see it continue,” Buzzell says. “The reality of energy efficiency, like most things in the world, is there’s a point of diminishing returns, beyond which the incremental costs of that next level of efficiency doesn’t measure up to the savings that you’re going to see from it.”

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Home Renovation Starts with good Planning and Good Insurance

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he United States is a country of renovators and remodelers, judging from the steady growth of home improvement projects across the nation in recent years.

People are remodeling their homes at historically high rates, according to the National Association of Homebuilders. Many of these projects are complex and expensive, and too often people neglect to fully protect their assets and bank accounts because they fail to properly assess the risks of major home renovations.

There are a few basic things homeowners need to think about before, during and after renovation that will go a long way toward protecting their little piece of the American Dream. One of the most important tasks comes well before even the first nail is hammered.

“It always goes back to choosing the right contractor,” says Mark McCormick, technical director of personal risk services at Fireman’s Fund Insurance Company. “Embarking on these kinds of projects is an emotional experience, but it’s important to objectively vet your contractors before making a decision about who will be working in your home.”

You can’t just pick your

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contractor at random out of the Yellow Pages or hire them simply because they might have a nice website. Make sure they’ve been in business for a while — 10 or more years is often a good gauge. While not a guarantee of trustworthiness, business longevity shows at least a certain level of stability.

Also, companies that have been around longer tend to have connections in the wider com-

munity and established reputations that can be checked out.

Ask neighbors and friends for their thoughts and get recommendations from people who have been through a remodel.

Many times fly-by-night contractors will only give out cellphone numbers, which is a big red flag, so make sure they have a physical address.

Also, ask for proof that they are properly licensed and carry the right insurance for themselves and their subcontractors.

“It’s always good to get three to five contractors into the vetting process,” McCormick says. “There may be some who have been around for only a year, or you may not be happy with their subs, the price, the scope of work or how they approach your home. You want them to do the work in your castle as if they owned it themselves.”

An often-neglected item on the pre-project check list is making sure your insurance is up to the task. Before work begins, contact your agent and ask if you need to adjust your liability limits or if there is anything you can do to minimize your risk. Larger, more complex projects are inherently more risky, so the insurance company might suggest things like security fencing, cameras or — if the project is really big — a security guard.

“If homeowners neglect to tell their insurance agent about a renovation, it puts them at risk from a liability standpoint,” McCormick says. “People might be walking around on roofs, putting in swimming pools, using open flame, putting up siding, all kinds of things. If the policy holder talks to an agent about the scope of project, the

Remodeling Tips for Homeowners 1. Carefully vet contractors.

2. Contact your insurance company and get advice about risk mitigation and liabilities.

3. Make sure your contractor and subcontractors have adequate liability insurance.

4. Maintain good records of all agreements and transactions.

5. Never leave valuable personal items in plain view during a project. agent can advise an increase in liability coverage if it’s needed.”

Throughout the entire process, be sure to keep good records, including all receipts, plans, invoices, canceled checks and all agreements and correspondence with your contractors and subs. Once the remodel is complete, contact your insurance agent for a replacement cost calculation, adjusted to mirror the final project and accounting for the increased replacement value.

“Finally — and it’s very common that people forget about this — don’t give out home security system codes or house keys unless you know specifically who is getting those things,” McCormick said.

“Change the codes and the locks after the project is done.”

SOURCE: BRANDPOINT CONTENT

2014 | free-times.com continued on page 21

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®, and TM are trademarks licensed to Coldwell Banker Real Estate LLC. An Equal Opportunity Company. Equal Housing Opportunity. Each Office is Independently Owned And Operated.

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LAWN & GARDEN Easy Fall Propagation Techniques A 12-Month Guide to Getting Your Cuttings Ready for Spring

BY MICHAEL J. McGROARTY

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s a home gardener, fall should be a very special time for you. Fall is the best season of the year for plant propagation, especially for home gardeners who do not have the luxury of intermittent mist. The technique that I am going to describe here can be equally effective for evergreens as well as many deciduous plants.

The old rule of thumb was to start doing hardwood cuttings of evergreens after you have experienced at least two hard freezes. After two hard freezes, the plants are completely dormant.

However, based on my experience, it is beneficial to start doing your evergreen cuttings earlier than that. So instead of doing “by the book” hardwood cuttings, you’re actually working with semi-hardwood cuttings. The downside to starting your cuttings early is that they will have to be watered daily unless you experience rain showers. The upside is that they will start rooting sooner, and therefore are better rooted when you pull them out to transplant them.

• To prepare an area in which to root cuttings, you must first select a site. An area that is about 50 percent shaded will work great.

Full sun will work; it just requires that you tend to the cuttings more often.

Clear all grass or other vegetation from the area that you have selected.

The size of the area is up to you. Realistically, you can fit about one cutting per square inch of bed area. You might need a little more area per cutting, it depends on how close you stick the cuttings in the sand.

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• Once you have an area cleared off, all you have to do is build a wooden frame and lay it on the ground in the area that you cleared. Your frame is a simple as four 2-by-4s or four 2-by-6s nailed together at each corner. It will be open on the top and open on the bottom. Just lay it on the ground in the cleared area, and fill it with a coarse grade of sand.

• This sand should be clean (no mud or weed seed), and much coarser than the sand used in a play box. Visit your local builders supply center and view each sand pile they have.

They should have different grades varying from very

fine to very coarse. You don’t want either. You want something a little coarser than their medium grade. It’s not rocket science, so don’t get all worked up trying to find just the right grade. Actually, bagged swimming pool filter sand also works and should be available at discount home centers.

• Once your wooden frame is on the ground and filled with sand, you’re ready to start sticking cuttings. Wet the sand the day before you start; that will make it possible for you to make a slit in the sand that won’t fill right in. In this propagation box you can do all kinds of cuttings, but I would start with the evergreens first: Taxus, Junipers and Arborvitae.

• Make the cuttings about 4 inches long and remove the needles from the bottom twothirds of the cuttings. Dip them in a rooting compound and stick them in the sand about an inch or so. Most garden centers sell rooting compounds. Just tell them that you are rooting hardwood cuttings of evergreens.

When you make the Arborvitae cuttings you can actually remove large branches from an Arborvitae and just tear them apart

and get hundreds of cuttings from one branch. When you tear them apart that leaves a small heel on the bottom of the cutting. Leave this heel on.

It represents a wounded area, and the cutting will produce more roots because of this wound.

Once the weather gets colder and you have experienced at least one good hard freeze, the deciduous plants should be dormant and will have dropped their leaves, and you can now propagate them.

Just make cuttings about 4 inches long, dip them in a rooting compound and stick them in the bed of sand. Not everything will root this way, but a lot of things will, and it takes little effort to find out what will work and what won’t.

This is a short list of just some of the things that will root this way: Taxus, Juniper, Arborvitae, Japanese Holly, Blue Boy/Girl Holly, Boxwood, Cypress, Forsythia, Rose of Sharon, Sandcherry, Weigela, Red Twig Dogwood, Variegated Euonymus, Cotoneaster, Privet and Viburnum.

Immediately after sticking the cuttings, thoroughly soak the sand to make sure there are no air pockets around the cuttings. Keep the cuttings watered once or twice daily as long as the weather is warm.

Once winter sets it you can stop watering, but if you get a warm dry spell, water during that time.

Start watering again in the spring and throughout out the summer. The cuttings should be rooted by late spring and you can cut back on the water, but don’t let them dry out to the point that they burn up.

By fall you can transplant them to a bed and grow them on for a year or two, or you can plant them in their permanent location. This technique takes 12 months, but it is simple and easy.

Article provided by gardening-articles.com. Michael J. McGroarty is the author of The Gardener’s Secret Handbook.

Sign up for his gardening newsletter at freeplants.com.

2014 | free-times.com

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LAWN HEATING & GARDEN & AIR Five Good Reasons to Replace Your Old AC in Fall

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efore you turn off your AC system for the season, consider having it checked out by a certified contractor. If it’s older or has been giving you problems, you might want to replace it.

“It may not be top of mind, but fall is actually the ideal time to think about your home’s cooling system,” says Frank Landwehr, VP of Marketing at Emerson Climate Technologies.

There are five reasons why consumers who consider this important home upgrade during the off-season often have much better outcomes, say the experts at AC & Heating Connect.

EXIT Palmetto Real Estate Services 1550 Dutch Fork Rd. Irmo, SC 29063

803.764.7968

Contractor considerations: Give yourself plenty of time to identify the best AC contractor for your installation. Contractors in between cooling and heating seasons will be more available to help solve your specific problems.

New features: Learn about the latest technology and fea-

tures available for HVAC systems, as a lot has changed in the past 20 years. Consider systems with features ranging from superior humidity reduction to noise reduction to remote control systems and energy-efficient programmable thermostats.

“Dual fuel” heat pumps that can use either electricity or natural gas for heating are another recent innovation to consider.

Zombie heat pump: So-called “zombie” heat pumps appear to be alive and running, but in reality are not performing optimally, or at all. If your air conditioner doubles as a heat pump, fall is the time to have your system checked out for the heating season. Fall is also a good time to have a conventional furnace checked out by a contractor. If it’s older like the AC unit, you might be better off having them both replaced at once.

Recalculations: Have your contractor run new calculations on your home. Changes since that old AC system was installed can affect your needs. For example, if you added insulation, upgraded to more efficient windows, knocked out walls or added a room, you might need a different system size than before— and the wrong system can be problematic.

A system that’s too small won’t keep up on the hottest days.

A system that’s too large will cycle too much, causing wide swings in temperature— and won’t necessarily remove all the humidity from your home.

Further, if you plan to close the AC vents in seldom-used rooms, look for a system with at least two steps of capacity modulation. Closing room vents and doors effectively makes your house appear smaller to your HVAC system, which could significantly damage the system or cause it to fail prematurely.

Regulations: Know the latest government regulations and rebates before you buy. New regulations going into effect January 1, 2015, might affect the minimum efficiency standard in your region. Give yourself time to consider whether you want to replace your system ahead of the change.

Replacing HVAC systems in fall can be a smart maneuver. By planning ahead, you can make smarter choices for your home and your comfort.

Check out www.ac-heatingconnect.com for free resources and to learn more about what type of system might be best for your home.

Source: Statepoint Media

2014 | free-times.com

LISA CLOYD 803.240.8247

www.ExitPalmettoRealty.com

DEBBIE LATTIMORE 803.528.1389

www.BuyRealEstateColumbia.com |

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Finding the Funds Whether You’re Buying or Refinancing, Rates are Still Low

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BY KATIE ALICE WALKER

nterest rates may be on the rise, but they’re still historically low — and renters everywhere are scratching their heads and thinking about whether now is the time to buy.

Committing to a mortgage that might be $150,000, $250,000 or $350,000 can be scary, no matter how great the rates are. Unless you’ve saved aggressively or come into a large sum of money, you’ll need a mortgage to purchase a home. But a traditional 30year mortgage isn’t all there is.

“There are many options depending on your needs,” says Jai Bell, assistant vice president at Congaree State Bank. “Rates are so low now that some people who own homes and have some equity now have the opportunity to refinance from a 30-year to a 15-year mortgage without a large increase in monthly payment. And there are 20- and 10-year terms, and you can still get even lower rates with an

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adjustable-rate mortgage.”

Loan Terms, Down Payments and Credit Scores Whether you’re buying for the first time or refinancing, if you can afford to make higher monthly payments by taking out a 10- or 20-year mortgage rather than a 30-year one, you’ll pay less interest each month and more of your hardearned dollars will go toward paying for your home.

Some buyers might want to consider an adjustable-rate mortgage, which is a loan with an interest rate that changes.

An ARM might start with lower monthly payments than fixed-rate mortgages — but then your monthly payment

could change and increase, sometimes by a lot. Adjustable-rate mortgages got a bad reputation — and rightfully so — for partially causing the real estate crisis a few years ago as homeowners bought homes they couldn’t ultimately afford.

But if you understand what an ARM is and use it carefully, they aren’t a bad route, according to Bell.

“First-time buyers may be fine with a five or seven-year ARM if they know they’re going to move out and sell in a few years,” Bell says.

Other factors that affect what your monthly payment looks like are your down payment and your credit score.

Traditional loans require that you put down 5 percent of the total loan and Federal Housing Authority (FHA) loans require just 3.5 percent. But the more you put down, the better off you’ll be.

“The market wants you to put 20 percent down,” Bell says. “If you put anything less than 20 percent down, you’ll have to pay mortgage insurance, which could be another $100 or $200 a month.”

Many buyers don’t have that much cash on hand, but the larger the down payment, the lower your interest rate.

Your credit score is important, too. Cleaning up your credit report is an important step to take before you apply for a mortgage. As Bell says: “The lower your credit score is, the higher your rate will likely be.”

That’s because if you have a low credit score, banks view you as a higher risk.

Though you may hear chatter about interest rates rising, Bell says they’re still low.

“Rates have been historically low and they may fluctuate a little bit, but they’re still low.”

They’re likely to stay that way for the next year or so, according to the signals the Federal Reserve has been sending.

There are numerous loan options out there, some of them specifically for first-time buyers. Our advice? Find a banker you trust that can help you find the mortgage that suits your needs.

City of Columbia Loans

For certain types of buyers, the City of Columbia’s Housing Division and Community Development Department offers home loans that are such a good deal that they almost seem like an urban legend. Designed to encourage home ownership in metropolitan Columbia neighborhoods, these loans are granted with low down payments, low interest rates and no private mortgage insurance (PMI).

The Community Development Department offers these affordable home loans to families and individuals in Columbia earning up to 150 percent of our area’s median income. The city works with partner banks such as First Citizens, Security Federal Bank, SCBT, BB&T and NBSC to secure these rates.

Want to learn more or see if you qualify? Visit columbiasc.net/community-development/housing-services or call (803) 545-3373.

SC Housing’s First-Time Home Buyer Mortgage The First-Time Home Buyer Mortgage Loan Program is a statewide program designed to help families and individuals purchase their first homes through low, fixed-interestrate loans. Run by the S.C. State Housing Finance and Development Authority, the program also offers downpayment assistance of up to $5,000, meaning that if you have the desire to purchase a home, the steep down payment doesn’t have stand in the way.

SC Housing offers low rates to fulfill its mission of helping middle-income buyers get into homes. And another benefit: there are no location restrictions. Interested buyers, however, do need to have an acceptable debt-to-income ratio, and there is a maximum yearly income that varies from county to county.

To find out the general qualifications for a loan from SC Housing, visit www.schousing.com.

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