B4 • Friday, October 8, 2021
thegardenisland.com
THE GARDEN ISLAND
Inexpensive home maintenance projects and dirt can cause gutters to loosen and pull away from the home. “Gutters that are free of dirt and debris will keep rain from running down the sides of your home and coming in through the foundation,” said O’Rourke. “Routine maintenance means lower homeowner costs by addressing small issues before they become problematic.”
BRANDPOINT
Understanding VA home loan requirements BRANDPOINT The U.S. Department of Veterans Affairs (VA) guarantees loans made by qualified lenders for the benefit of servicemembers, veterans and their families. Fortunately, these once-limited home loans have become increasingly easy to find and remain one of the most cost-effective products on the mortgage market. “A couple decades ago, a lot of lenders thought VA loans were too difficult to navigate,” says Rashalon Hayes, assistant vice president of field mortgage at Navy Federal Credit Union. “Today, there are plenty of lenders experienced with VA loans that can walk you through the process.” In fact, roughly 45% of the mortgages Navy Federal originates are VA loans. Meeting VA home loan requirements can help you buy, build or renovate your home with little or no down payment. Because the VA backs a portion of each loan in their VA Home Loan Guaranty Program, lenders can offer more favorable terms for new home purchases and refinancing. Your path to buying a home with a VA loan: As a longtime partner of veterans, servicemembers and their families, Navy Federal knows the VA loan process inside and out. Their experienced lenders can help explore whether you meet VA home loan requirements and answer any questions along the way. w Get pre-qualified for a loan. Receive a pre-qualification from your lender and begin the homebuying process. w Obtain a Certificate of Eligibility (COE). This certificate from the VA confirms your military service and verifies you are eligible to receive a VA-guaranteed loan. Your lender can establish eligibility and obtain a COE for you. You can also apply online at the VA for this document. w Shop for a home. Work with a trusted real estate agent to find a home that meets your needs and fits your budget. Navy Federal even has a unique service called RealtyPlus, which pairs homebuyers with a coordinator specially trained to support servicemembers and their families through the buying, selling and financing processes. w Sign a home purchase agreement. Make sure the purchase agreement that your real estate agent drafts has a VA option clause. This clause states that you aren’t legally bound to purchase a home if the VA appraisal amount is lower than the seller’s asking price. “Some buyers worry this provision will hurt their offer, but VA loans can actually strengthen a contract offer since income is more reliable and seamless to verify,” Hayes notes. w Get a VA appraisal. A VA-certified appraiser determines the home’s fair market value and looks for obviously needed repairs to ensure the property meets the VA’s Minimum Property Requirements (MPRs). w Have the home inspected. Hire a professional home inspector to check the home’s structure for defects and to inspect items like electrical wiring, plumbing, and heating and cooling systems. w Sign the closing documents. After the home closing, it’s official! Congratulations on your new home. And remember: If you need to refinance your home in the future, you can use a VA loan for that, too.
Home maintenance. The very words might evoke thoughts of an entire weekend spent laboring at home instead of relaxing in it, but that doesn’t always have to be the case. “Not every home maintenance project has to be a large undertaking or one that takes up all of your free time,” said Christopher O’Rourke, Mercury Insurance vice president of property claims. “There are small weekend projects that can save you time, worry and money in the long run.” Here are six home maintenance projects you can do this weekend that will save you the headache of costly repairs later on.
Clean chimney Chimneys should be cleaned once a year, especially before the first fire of the season. Check the inside of the chimney to make sure it is clear of any debris or small animals nesting as these types of blockages could cause a fire. Thoroughly clear away ash or soot around the chimney before the cold weather starts.
Clean refrigerator coils To keep your refrigerator properly working, it’s best to clean the coolant coils every six months. Coolant coils, which can be located on the back or bottom of the refrigerator, keep warm air out. When the coils are covered with dust, dirt or hair they aren’t able to release heat efficiently. In turn, the coils work harder and longer, using more energy and shortening the life of the appliance. This might end up costing you more in the form of a higher energy bill or purchase of a new refrigerator. Clean your refrigerator coils with a vacuum and coil cleaning brush. Coil cleaning brushes can be found at appliance stores or online for $10 or less. Check caulking Caulking is customary around wet areas like bathtubs and sinks to keep water from seeping into the wall, but it is also used around windows and doors to prevent air
from escaping. Check for significant air temperature differences near windows and walls and use a digital thermometer to verify air leaks. Make sure to also check areas where vents and plumbing fixtures meet the outside wall. Old caulking can dry out and crack, making it vulnerable to air and water leaks. If you notice dry or cracked caulking, remove as much of it as possible and reseal. Caulking gun sets that include the sealant, scraping and smoothing tool can begin at $35 and be found online or at your local hardware store. Examine the roof The first step of roof inspection is to check the inside of your home. Look for damp spots or water stains on the ceiling or for
cracked plaster along the wall. These can be signs of water damage. At ground level do a visual examination of your roof’s exterior for any cracked or missing shingles. Notice if you have to trim back tree branches that may make contact as they can damage your roof’s exterior. If you suspect any type of damage, contact an experienced roofer who can perform a thorough inspection. Clean the gutters Gutters are necessary to direct water away from your home’s foundation. Their exposure to the elements means that they need to be cleaned and inspected regularly. While cleaning out dirt and leaves, make sure the gutters are securely attached to your house. The weight of heavy snowfall, rain
Install a programmable thermostat Programmable thermostats are both a money and energy saver. They allow you to set a comfortable temperature when you’re home and can be scheduled to lower the temperature while you’re away, helping you save money by cutting down energy usage. “Programmable thermostats allow homeowners to set the heating and cooling of their home to their schedule,” said O’Rourke. “It’s one less thing for homeowners to worry about and they are fairly easy to install.” Your home is not only your sanctuary, it’s your commitment. Assessing your homeowners’ coverage and understanding your policy is a simple household task you can accomplish this weekend and one that can save you money.
Save money with a local mortgage. Free up money for what matters most.
(808) 245-2463 | aloha@kgefcu.org Use our loan calculators at www.kgefcu.org/loan-calculator.
Federally Insured by NCUA