Life and Homes Columbus OH June 2018 by Stephen Lisi

Columbus

Life and

Homes

Turn of the Century

Charm Featured Home Pg. 9

JUNE 2018

Naturally Beautiful Local Listings

Live The Dream More Listings @ www.LifeandHomes.com

FREE Local

Real Estate Guide

Welcome Life and

Reality Check For Sellers

Homes

If it’s a seller’s market, why are seller’s dealing with sticker shock? A reported 61% of today’s sellers have never sold a home before and the cost is catching many by surprise.

COLUMBUS, OH EDITION

Advertising Deadline

It seems logical at first blush - buyers should be the ones putting out the money, not sellers. Not so, say the folks at Zillow® and Thumbtack, “Selling a house in 2018 can cost you more than $18,000.” Let’s take a quick look at how they arrived at that number. 78 percent of home sellers make at least one home improvement before putting their house on the market, according to Thumbtack. Sellers who hire professional help spend $4,985 on average to cover many basic seller prep projects like painting, staging, carpet cleaning, lawn care and gardening and local moving costs. Obviously, labor costs will vary, depending on where you live. Home sellers are also responsible for agent commissions and transfer or sales taxes, which are two of the largest closing costs. Nationally, sellers spend $13,357 on average for both costs. However, since they are percentages of a home’s sale price, again, the final cost will vary. “Even in the hottest housing markets in the country, selling a home takes time and costs money,” says Jeremy Wacksman, Zillow’s chief marketing officer. “From decluttering and staging to pre-inspections, agents and homeowners often spend months behind the scenes prepping a home – well before it’s listed on the market. If you’re planning to sell this year, try to take some time to research what costs you may be responsible for and how they could affect your profit or even budget for your next house.”

July Issue June 8, 2018 Published By LifeandHomes Franchise, LLC PO BOX 18

David P. Lisi, Owner

Real Estate Marketing Consultant 315-865-7418 • David@lifeandhomes.com

315-865-7418 Owner/Sales Representative DAVID P. LISI 315-865-7418

Table of Contents News Shorts

HOLLAND PATENT NY 13354

David@LifeandHomes.com

3-4

Featured Realtors

Front Cover Feature Home

Product and Service Directory 14-15 Anthony Diastello - e-Merge

Office Manager PAM DILIBERTO 315- 865-7418 LifeandHomes.Office@gmail.com

Corporate Editor KIM LISI

Kim@LifeandHomes.com LifeandHomes™ is published monthly by LifeandHomes Franchise, LLC

This information has been compiled from public records and other sources we believe to be reliable, but we make no guarantee with respect to its accuracy or completeness or the absence of restrictions on use and are not responsible for any liability, loss, or risk that subscribers may incur, directly or indirectly, from using the contents of this site.

“Fix it to sell” is a common expression in the real estate industry. Take time to research what items need attention and which can be left alone, then proceed accordingly. In the end, making the right improvements can ultimately help sell your home faster and at a higher value. www.facebook.com/pages/LifeandHomes-Columbus

Front Cover Featured Home For more information on this Front Cover Featured Home, See Page 9 Offered by

‘Cat’ Cassady Everitt Lic. R.E. Salesperson

Now with 4 Publications: Columbus, OH Syracuse, NY Central New York

( Oneida & Herkimer Counties)

Capital Region, NY

Make Your Home A Safe Haven

We think of our homes as our haven from the world. In it, we house the people and things that we treasure most. In time, we might also undertake to expand or modify our homes to better suit our needs through different life stages. Perhaps a previous owner has done the same. Remodeling a house can provide significant advantages and serve as an opportunity to make things better, especially if your home is getting on in years. It’s also a good time to identify potential problems in order to ensure safety, comfort and performance. Here are five things to consider when remodeling: • What’s behind the walls? Do you know what type of insulation exists or its current condition? It’s worthwhile to find out. Some older homes contain outdated materials that could be harmful. In basements and bathrooms, in attics and in areas where there’s been some moisture penetration, it’s not uncommon to discover moldy fiberglass or other insulating materials that should be removed. This can compromise air quality and be the source of potential health issues. When upgrading, opt for an insulation with an inorganic composition. Professional builders often favor a stone wool product such as Rockwool Comfortbatt or Safe ’n’ Sound because it resists moisture, adds fire protection and is an excellent sound-absorbing material. • Consider a professional home inspection. The goal is to help identify any potential hazards within your home. These can take many forms. hink knob-and-tube wiring, overloaded panels or cracked foundations. • Lead paint. Older houses (pre-1978) may have base coats of

newsShorts lead paint beneath the newer ones. Lead can cause harmful effects if ingested or inhaled as dust. Be careful to avoid raising dust if scraping or sanding old walls or molding. Test for (and seal) exposed areas of lead paint. • Educate yourself about air quality. Radon is a particular concern. It’s a radioactive gas that naturally accumulates in some houses— and the second leading cause of lung cancer after smoking. Use a radon long-term detector to measure the level of radon in your home to determine if you need to reduce it. •Pay close attention to combustion appliances. furnace, gas stove or water heater, can release pollutants such as carbon monoxide—a colorless and odorless gas. Ensure appliances are well maintained and inspected at least once a year. Install carbon monoxide detectors. There’s no place like home, so doing all that you can to ensure that it’s a safe, healthy and comfortable place will give you the peace of mind necessary to enjoy it to its fullest. -Author Scott McGillivray is the host of the hit HGTV series “Income Property” and “Moving the McGillivrays,” a full-time real estate investor, contractor, author and educator. (NAPS)

What To Do

About Ducts

While dirty ducts don’t necessarily mean unhealthy air, they can contribute to health issues, especially for people with respiratory health conditions, autoimmune disorders or allergies. The National Air Duct Cleaners Association (NADCA) has a rule of thumb: “If your air ducts look dirty, they probably are,” and that dirty HVAC systems should be inspected by a reputable, certified HVAC professional. That can not only help you breathe easier, it could save you money. When an HVAC system is clean, it doesn’t have to work as hard to maintain the temperature you desire. As a result, less energy is used, leading to improved cost effectiveness. You can get further information from NADCA’s free “Homeowner’s Guide to Air Duct Cleaning” at www.BreathingClean.com. (NAPS)

Real Estate

Trivia

Seeing a red door on somebody’s home can have different meanings, depending on where you are - In Scotland it is customary for homeowners to paint their front door red when they have finished paying their mortgage, while in the United States, during colonial times, it meant that weary travelers could stop safely at that house for a much needed rest.

If your home is like most, it’s got a dirty little secret: your air ducts.

Homes in Waldron Island, Washington cannot have more than two toilets.

Through normal occupation, houses pick up an awful lot of contaminants and air pollutants, such as dander, dust and chemicals. These get pulled into the HVAC system and recirculated five to seven times a day, on average. Over time, this causes a buildup of contaminants in the ductwork.

- This tiny island in the Puget Sound is one of the lesser-developed islands.The ban on having more than two toilets on your property is an effort to limit development on the island; Waldron Island is quiet and the residents want to keep it that way.

NewsShorts Sponsored by Your Real Estate Superheroes (See their ad on the back cover)

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Hard Water Proves

newsShorts

Hard on Your Wallet

formation on the interior surfaces of those pipes and that provides a perfect home for bacteria.

Researchers at the School of Sustainable Engineering at Arizona State University found bacteria may grow in pipes filled with both hard scale and soft scale at the same rate. This is important new information because some forms of water conditioning produce this soft scale. The only solution is to remove both hard and soft scale in the pipes with a salt-based water softener.

Hard water, which contains high levels of calcium and magnesium, can be found in nearly 90 percent of American homes. These minerals cause scaling, a buildup that clogs waterlines and plumbing forcing appliances to work harder and operate less efficiently. The scale may also harbor bacteria. The only way to truly remove the hard and soft scale from household water systems is with salt-based water softeners.

Hard water you use to wash your fresh fruits and vegetables may actually contain more bacteria, and the problem isn’t only in the kitchen. When you take a hot shower the steam you are inhaling can also contain the same microbial contamination that is in the rest of your plumbing, exposing you to bacteria such as Legionella, which can cause Legionnaire’s disease.

The environmental and cost benefits of salt-based water softening are significant. Hard water scaling can cause your showerhead to lose up to 75 percent of its flow rate in just 18 months. Hard water also interacts negatively with soap, reducing its cleaning power. Soft water is up to 12 times more effective at cleaning dishes than increasing the amount of detergent used. According to the Water Quality Research Foundation for washing machines, the most important factor in removing stains from clothing was water softness. Reduction of water hardness was up to 100 times more effective at stain removal than increasing the detergent dose or washing with hotter water. In fact, soft water can reduce soap use by as much as half. Hard water can also reduce the efficiency of water heaters and increase electricity costs by as much as 48 percent, according to the Battelle Memorial Institute. Hard water scaling doesn’t just harm your appliances and wallet, it can harm your health as well. The piping used in home plumbing, whether it is copper or PVC, has very smooth interior surfaces that don’t permit bacteria to settle and grow. However, hard water results in scale

A salt-based water softener is the most functional and cost-effective means of removing hardness minerals. It is a time-tested, highly reliable tool to improve health and to lower maintenance costs for home appliances like dishwashers and washing machine. It also reduces the need for detergents and high-water temperatures, leading to a smaller household carbon footprint. (BPT)

Create An Outdoor Oasis With a

Personalized Shed The backyard. It’s your oasis. Your happy place. Your second living room. It’s the place to go not only for “me” time — but quality time with friends and family. The backyard. It’s your oasis. Your happy place. Your second living room. It’s the place to go not only for “me” time — but quality time with friends and family. The Hearth, Patio & Barbecue Association wants to help you make your backyard the best backyard it can be. Think sheds. No, not your grandparents’ tattered shed filled with a dusty mower and 30-year-old

paint brushes. We’re talking highly personalized sheds. Intimate covered spaces that keep the sun’s rays out but bring the summer in. Outdoor sheds come in all shapes and sizes and can be personalized to fit within all types of lifestyles. From fun-filled tapsheds where friends gather for a margarita and grilled salmon to an intimate she shed stocked with wine and cheese or even a hobby shed for the family to play board games while munching on braised ribs and root beer, sheds can do it all. Building a personalized shed can be a daunting task. Consider these five tips to help you create your ideal outdoor oasis just in time for summer: 1. Have a plan: Are you starting from scratch or cleaning out an existing old shed? What’s the theme? What’s the budget? What’s the goal? How much room do you have to work with? Before you start building your shed, make sure you have a plan in place. You may be eager to jump right in but it’s much easier to follow a well-laid plan than to make decisions on the fly. 2. Stick to a theme: A craft shed, a relaxation shed, a party shed — there are so many options when it comes to creating your perfect shed. Choose one theme and tailor all decisions around your theme of choice. For example, if you decide to go with a relaxation shed, choose calming colors and peaceful decorations. 3. Utilize your resources: Your shed is a part of your outdoor space and you should utilize all the free beauty that nature has to offer when it comes to decorating your shed. Build your shed under your favorite tree to offer natural shade or decorate your shed with dried flowers or vines. 4. Less is more: When designing an outdoor shed, it is easy to go overboard. Remember to keep it simple and that you want to have enough room to entertain guests and to hang out in your shed. Keeping things minimal will also ensure you stay within your budget. 5. Remember the exterior: One easy way to customize your shed is with a coat of paint. Choose a paint color that goes with your theme. Then invite friends and family over for a day of painting fun in the sun. For more tips on making the most of your backyard, visit www.hpba.org. (BPT)

NewsShorts Sponsored by Your Real Estate Superheroes (See their ad on the back cover) 4

LifeandHomes ■ Columbus

Featured Realtors

Shannon Hundley

TRACY KEFFER (c) 614-949-4270

TracyKeffer@kw.com PowerHouseNetworkAgents.com

Residential and Commercial Real Estate Team in Central Ohio

The Ohio Land & Farm Man Cell: 740-627-0336 Oﬃce: 740-397-8800 s.hundley03@yahoo.com www.shannonwhundley.com

Quest

11423 Upper Gilchrist Road, Suite C, Mount Vernon, OH 43050

Looking for your own private getaway?

1916 Henpeck Rd. Utica, $479,000 - Located in the gentle rolling hills of beautiful Knox

County, you will find a rustic skip hewn log cabin with a gated entry, new kitchen, new bathroom, 2 sleeping areas, living room with stone fireplace, new natural gas furnace and central air, front porch , back and side decks, and new hot tub. This is a very serene, private, off the road setting, over 1000 feet of ever-flowing Wapatomika Creek to enjoy on this property with some of the best small mouth fishing in Ohio. Trophy white tail deer and turkey hunting, excellent scenic bike riding on country roads. 31.07 acres of secluded woodland and meadows, all gas, oil and mineral rights convey to buyer, new modern 3-bay 30x40 workshop with side porches, electric and heat. Located less than 1 hour from Columbus. Why search for a resort or a retreat? By owning this you only share this with yourself and friends! This is a rare find. Call Shannon Hundley for an enjoyable ATV tour!

20285 Zion Road, Gambier $699,000

Agrarian lifestyle awaits you on this darling 39.3 acre farmstead just outside of Gambier, home of Kenyon College. Relax on your private front porch or stretch out in the screened porch. A tasteful deck offers entertainment space. Several intelligent and tastefully executed additions result in a private master suite, as well as a window filled LR with unique custom tree stairway, large LL featuring a fantastic library office wrapped with built-in shelves & cabinets.

11300 Cochran Rd, Mount Vernon $62,000 Knox County’s finest! 5.59

acres, woods, and stocked pond. Several building sites. Located off State Route 229. Easy Columbus commute. Subject to Board of Health approval for well & septic.

Thinking of

8667 Keys Road, Mt Vernon $285,000 Well built home on stunning wooded lot located South of town. Spacious 4 bedroom home ready for new owner features wrap-around covered porch, welcoming entry foyer with gleaming hardwood floors, efficient appliance kitchen with large island and breakfast dining area adjacent to formal dining room, first floor half bath with laundry, and huge living room overlooking gorgeous property. Small barn with fenced paddocks, dog run, and outside shed. Ready to go!

1 Public Square Ste 100 Mt Vernon OH 43050 www.KnoxHomeInfo.com 740-427-2000

Jennifer K Farmer

jennifer@KnoxHomeInfo.com

740-427-2000 Broker/Owner

selling your home? Selling is a huge decision, call me for a Complimentary Market Analysis .

Thinking of

buying a home?

I can set you up to receive emails of all the latest listings that hit the market.

1 Public Square Ste 100 Mt Vernon OH 43050 www.KnoxHomeInfo.com 740-427-2000

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Nina Campbell

www.ninacampbell.net

740-398-6151 Lic. R.E. Salesperson

www.Lif ean d H o m es . com

The Valente Group LLC.

Wealth Management

866-679-3258

What is a fee only d n a r e n n a l P l a i c n Fina Why Should I care? Answer: Your Fiduciary: As a registered Investment Advisor Firm, it is required of us to always act as our clients fiduciary. This means always putting our clients best interests first. This is in contrast to that of a Broker/Dealer relationship, as Broker/Dealers are only required to make “suitable” recommendations versus always being required to make recommendations that are in your best interest. Transparent: Registered Investment Advisor Firms are required to always fully disclose all fees and potential conflicts of interest to you, the client. Our

Salvatore T.Valente III, RFC® President/C.E.O

clients know exactly how much they pay for our services in a clearly spelled out written agreement – again in stark contrast to traditional Broker/Dealer representative requirements on transparancy. Fee Only: As a registered Investment Advisor Firm, we are compensated from fully disclosed fees, and accept no commissions or any other forms of third party compensation, thus eliminating any conﬂicts of interest. Again, as a Registered Investment Advisor Firm, we are always required to act in your best interest, and we can think of no better way than by refusing commissions and third party incentives for recommendations we make that create conﬂicts of interest.

In addition to all of the above, we are: Independent – We work for our clients, rather than representing a speciﬁc bank, investment or insurance company. We have no sales quotas, contests and accept no compensation from third parties, therefore we can offer our clients many, many more investment options at a much lower cost.

Are you ready to experience the fee-only difference? We are never paid commissions or referral fees, We do not sell products (Loaded Mutual Funds or ”other products”). You pay for our objective, unbiased advice and expertise, which aligns your goals with our goals – to grow your wealth. 866-679-3258

LifeandHomes ■ Columbus

Leisa

Josh

9800 Heron Drive, Thornville Waterfront Home Heron Bay at Buckeye Lake

$1,625,000

Welcome to Buckeye Lake! COMPLETELY REMODELED! Custom built waterfront home sits on a 1.52-acre lot in private Heron Bay! 5 Bedroom, 4 Bath, 4 car home with soaring ceilings, hardwood floors and large open spaces. The gourmet Kitchen features marble countertops, custom cabinets & Thermador Stainless Steel appliances! Enjoy 3 fireplaces, walls of windows with panoramic lake views, Theater Room, Sauna Room, built-ins, security cameras & speakers throughout with iPad control! The Master Suite overlooks main lake featuring 2 sided fireplace, cupola ceiling, and his/her closet rooms! Two living areas, Den/Oﬃce & Teen Suite overlooking main lake! 2 BR, 1 Bath Guesthouse! Guest Boat dock w/boat & ski lift!! AND you can build more docks on your own 270-foot waterfront property!! Call Today! Leisa Davis: Your resource for Buckeye Lake Waterfront Lakefront Property. Take A Virtual Tour at: http://tourwizard.net/3294/

7745 North Street, Newark

$529,000

Retreat Log Home Living Gorgeous Cedar Log Home sits on almost 12 wooded acres w/mature trees & stream! Post and Beams are structured with White Pine Rafters. Fabulous home features Large Great Room with Cathedral Ceilings, Kitchen Island Bar & Eat-in Area, Suites on every floor. First-floor Master Bedroom, Large Guest Loft with Full Bath & Lower Level with Bedroom & Full Bath. The Lower Level features a Wood Burning Stove, Tiled flooring &

walks out to side patio pavers! Geo Thermal Heating & Cooling! Detached 3-Car Garage with Workshop & extra storage, Lean-to & Chicken Coop! Outside Vegetable Garden with strawberries, raspberries & asparagus! This is a Spectacular private Retreat that has quick access to shopping & downtown! Take A Virtual Tour at: http://tourwizard.net/56827/

Chase Title Services

Providing Escrow and Title Protection

WWW.CHASETITLESERVICES.COM 614-501-9100 Teena Collins · Teena@ChaseTitleServices.com • Oﬃce 614-501-9100

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‘Cat’ Cassady Everitt Lic. R.E. Salesperson Cell - 614-805-7955

Keller Williams Greater Columbus Realty, LLC 1 Easton Oval, Ste. 100 Columbus, OH 43219 and 128 S. Main St., Granville, OH 43023

website: cateveritt.kw.com free mobile app: catsfreemobileapp.com

4225 North Bank Road, Millersport

5 BD 2 FULL/2 HALF BA $515,900

Soak up the panoramic views of Buckeye Lake from your 75 foot wrap around upper party deck! This gorgeous lake front home is ready for summer fun! Enjoy main lake views from your living room w/gas log fireplace, built-in entertainment center, kitchen with eating space, built-in eating bar, Frigidaire stainless steel appliance package, 2 large bedrooms, and spa look bath w/black walnut vanity & glass sink bowl. Gleaming wood floors on main level. Enjoy your 30 x 10, 4 season sunroom year round, surrounded by windows & Vermont Castings gas stove, side deck & front patio. Massive owner’s suite on 3rd floor w/extra bedroom, work out/sitting room, laundry room, w/W & D, and private bath w/double walk in shower. Lower level ‘’Man Cave’’ w/rec room, 1/2 bath, hobby rm, or 5th bdrm. Priced to sell.

Available as a Package Deal. Call for Details.

4214 North Bank Rd NE, Millersport 3 BD 2 BA

$247,900

Enjoy your wooded lot from your covered front porch or from your back deck where nature abounds. Right across the road from beautiful Buckeye Lake. Two parcels will be sold together, and add up to .64 acre lot. Home is stick built with 2 x 6’s. Large open great room w/2 lighted ceiling fans, and spacious owner bedroom w/private bath, shower, and walk-in closet. Kitchen w/oak cabinetry, built-in quartz table, and all appliances. 2 more large bedrooms w/lighted ceiling fans, and hall bath w/tub & shower. Blinds through out the home. Laundry room oﬀ kitchen. Back deck. The 30 x 40 pole barn has space for 3 vehicles with stairs to attic storage that could be easily finished oﬀ. Electric, work bench, and concrete floors. 40 x 5 lean-to with concrete base floor. A great place to call home! 8

LifeandHomes ■ Columbus

‘Cat’ Cassady Everitt Lic. R.E. Salesperson Cell - 614-805-7955

Keller Williams Greater Columbus Realty, LLC 1 Easton Oval, Ste. 100 Columbus, OH 43219 and 128 S. Main St., Granville, OH 43023

website: cateveritt.kw.com free mobile app: catsfreemobileapp.com

424 East College Street, Granville

FRONT COVER FEATURE HOME

3 BD 3 BA

$488,000

Beautifully renovated turn of the century Granville home. All of the modern amenities with the original charm of stained glass, natural woodwork, original French Doors in the living room, and newly refinished hardwood floors thru out. Gorgeous new kitchen with 42’’ Maple Shaker Cabinets, Dovetail Soft Close Drawer System, pantry cabinets, new granite counter tops & back splash, LVP flooring, new wine cooler & stainless steel gourmet appliances. Remodeled baths with new toilets & granite vanity tops. Updates include: New tilt-in windows, interior & exterior paint, electrical panel & plumbing, lighting, fireplace w/remote, new electric water heater and 2nd floor stackable washer & dryer, custom closet organizers, and fresh landscape. A few short blocks to village shops, eateries & schools.

4941 Northbank Road, Buckeye Lake 3 BD 3 BA

$389,000

Fabulous turn key property located on the North Shore of Buckeye Lake, just steps from The Buckeye Lake Yacht Club, on ‘’Commodore’s Row’’. Low maintenance updated home, for full time living or your weekend retreat. 3 levels of living, and great for entertaining! Main level living room with built in wet bar, open dining room, kitchen with new stainless steel appliances, 1/2 bath, and huge laundry room with tons of storage. Stylish wrought iron railing accents open staircase to upper level. Spacious owner’s suite with private bath, sitting area, walk-in closet and balcony overlooking the lake for 5 o’clock cocktails and gorgeous sunsets. Two additional bedrooms and full refurbished bath up. Man Cave on lower level with built-in cabinets and full bath with shower. Deep 2 car garage.

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e-Merge Real Estate

Rashad L. Fields

3500 N. High Columbus OH 43214

Licensed R.E. Salesperson

614-323-9697

rashad.ﬁelds@e-merge.com

Number 1 Realtor in town, ask around!

Robert Panian

e-Merge Real Estate 8720 Orion Place Suite 100 Columbus, OH 43240

Licensed R.E. Salesperson

624-800-1975

Robert.Panian@e-Merge.com

37 years in the military

has prepared me for this challenging career!

Don’t see YOUR For Sale Listing in this issue?

Jack Gabalski, Lic. R.E. Salesperson

jackgabalski@yahoo.com

614-806-4091

Tell your Real Estate Professional you want your house advertised in

Call - Text - Email

LifeandHomes™

20 years helping people

BUY and SELL great homes in Central Ohio. 6055 Tain Dr. Suite #101 Dublin, OH 43017 10

LifeandHomes ■ Columbus

Contact David Lisi 315-865-7418

David@LifeandHomes.com / www.LifeandHomes.com

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LifeandHomes ■ Columbus

5 Questions

To Ask When Shopping For a

Mortgage

Buying a home is a major financial commitment. It’s exciting, but can also be confusing and overwhelming. Choosing the best mortgage that fits your needs is an important first step and first-time homebuyers in particular should research the many options and know the right questions to ask. Here are some questions to ask a lender that will help you make an informed mortgage decision: 1. How much can I afford? A home affordability calculator can help you get an idea of what you may be able to afford and keep your monthly payments within your budget. In addition to recurring expenses like car payments, student loans, credit cards and disposable income, be sure to consider other monthly expenses related to the new home, like association fees, homeowners’ insurance, utilities and property taxes. Further, some types of mortgages have firm eligibility cutoffs related to the ratio between a buyer’s total debt amounts and their monthly income.

2. How much do I need for a down payment? It’s a common misconception that a 20 percent down payment is required to buy a home. Let’s face it, a 20 percent down payment is a lot of money, and often the largest obstacle for homeownership, especially for first-time buyers. You can qualify for a conventional mortgage with as little as 3 percent down. Conventional mortgages originated with a low down payment, which is defined as less than 20 percent, require private mortgage insurance (MI) until approximately 20 percent equity is established through either monthly payments or home price appreciation. When mortgage insurance cancels,

your monthly mortgage bill is reduced. It is important to know that not all forms of MI are created equal - private mortgage insurance is temporary and cancelable but the overwhelming majority of mortgages backed by the government’s Federal Housing Administration (FHA) contain insurance that cannot be canceled.

3. What is the interest rate and is it fixed? Most first-time homebuyers go with a 30-year fixed-rate mortgage, which locks you into an interest rate with steady, predictable payments. Different lenders may offer different rates, so make sure to contact several lenders to ensure you’re getting the best option available in the market. A rate lock protects you from rising interest rates while the loan is being processed and lasts for a specific amount of time. In addition, make sure you know whether the rate is fixed or “adjustable.” Adjustable rate mortgages, commonly referred to as “ARMs,” result in periodic adjustments in the interest rate based on the lender’s cost of credit, and can be detrimental to homeowners in rising interest rate environments. Finally, ask if you are paying for “points” to reduce the interest rate. It’s an added upfront cost paid at closing, but it results in a lower rate for the life of the loan.

4. Does my credit score matter? Yes, generally stronger credit scores (FICO 720 and above) come with better interest rates, but fortunately there are mortgage options for those with imperfect credit scores too. When you apply for a mortgage, your credit record is used to help determine your approval and mortgage terms, but it is not the only thing lenders consider. A lender will also look at your debt-to-income (DTI) ratio, cash reserves and other factors to help gauge your overall creditworthiness. 5. Should I get pre-approved for a mortgage? Yes. Pre-approval means you receive a conditional commitment from a lender up to a specific loan amount. In a seller’s market with tight housing supply, being pre-approved demonstrates that you are a serious buyer with access to mortgage financing. To become preapproved, you’ll provide your lender with information on your income, assets, debts and credit history to analyze your financial profile and determine your creditworthiness and amount you can borrow to purchase a home. Make sure to know your options and choose the one that works for you. Check out lowdownpaymentfacts.org to learn more. (BPT) June

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LifeandHomes

Products and Services Looking for

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Questions? Search no further!

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www.adirondackstainedglassworks.com

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29 W. Fulton Street / Gloversville Phone: 518-725-0387 Open Daily 9:00 a.m.-5:00 p.m. Saturday 9:00 a.m.-4:00 p.m. Closed Sunday / Monday June

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