Tag Archives: VA Loans

5 Tips To Get Rid Of Clutter Around The House

Happy New Years to everyone in the Central Coast! We at Valley Hills Realty have had a great start to 2017 and we hope that you have too. This year will bring many changes to you and family around you and one of those changes may be in the comfort of your own home. One way to make your home more comfortable is to get rid of clutter. Here are 5 ways to bring down clutter around your house.

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Follow these tips for easy and quick ways to de-clutter your home.

1.  Adding shelves: The addition of shelves in your home will not only create space but also give your home a different feel. Get rid of stuff that is lying around on the floor and place them on shelves to give you more floor space.

2. Garage storage: Make your garage your main storage area. Yes you can have multiple uses for the garage but if you set it as your primary storage area, you will have more space in your home.

3. Getting rid of broken items: It may be hard to get rid of some precious stuff in your house but if the item is broken or un-useable, then why keep it? They just take up space around your home so get rid of them to get your space back.

4. Placing stuff in drawers: If you have extra drawers around the house, you can use those drawers to create more space. By neatly organizing in drawers, one can get rid of clutter that is simply lying around.

5. Reorganize one room at a time: By taking it one room at a time, it will seem much less stressful when reorganizing. Take it easy and calm.

By going through these steps on a monthly basis, you will experience a home that is much more livable than before with more space and room to mingle in.

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The Differences Between a Home Appraisal and Inspection

When purchasing a home there are many things that can be overlooked. A thing that one must keep in mind when buying a house, especially for first-time home buyers, is the differences between an Appraisal and an Inspection. A Home Appraisal and a Home Inspection are reports based on the inspection of a home but they each have different requirements or elements to them. An appraisal is used to determine the market value of a home and is required by the mortgage lender. An inspection is a more detailed evaluation of the home usually requested by the home buyer and is not required by the lender.

When a home buyer needs to borrow money, known as a mortgage, the lender will require an appraisal of the home to provide a more accurate estimate of the home’s value.  Home appraisals are usually short and do not take much time. The real estate appraiser will assess the actual home as well as provide a comparison of homes that have been sold in the same neighborhood, usually within the last year.

Home inspections are more detailed and are requested by the home buyer since they are not required for the home seller to provide. A home inspector will evaluate the details of the home like the AC, plumbing, electrical, and other areas alike. Though they are not required, home inspections are strongly recommended so that the buyer has a more accurate depiction of the property that they are buying.

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What Everyone Should Know About Credit Scores

For starters there are different classifications for what is considered a good credit score. They can also be described as poor, average, good, great, excellent, or even exceptional based on the credit score number that you have. Your credit score will fall within one of these categories, but keep in mind the names for these categories differ from industry to industry but to give you a general idea of how good, or bad your credit score is, we have provided you this article outlining what most lenders or banks, even credit card companies and car dealerships, use to determine the likeliness of providing you with a loan at a reasonable rate. Below there is a pie chart outlining what FICO classifies credit score ratings nationwide.

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A good credit score depends on many factors. A credit score when applying for a mortgage is different when applying for a credit card or a car loan at your local dealership.
Based on our experience most credit scores, or what seems to be the average among individuals, fall within 620 to 669. A score between 670 to 680 would be considered above average or generally good credit for most lenders. Anything between 680 and 720 will be measured as excellent or very good credit and will help you attain that interest rate that everyone wants. Now, generally anything above 750 will be seen as exceptional credit, which is what lenders like to see. The higher your score, the better credit decisions lenders will make because they will be more confident that you will repay any future debts.

Credit scores are used by lenders, including banks providing mortgage loans, credit card companies, and even car dealerships to make decisions about whether or not to offer you a reasonable loan and what the terms of the offer (such as the interest rate or down payment) will be. We have broken down the differences among these types of loans below.

Home Loans
Mortgages have two key credit score requirements. The first is the minimum score needed to qualify for the mortgage and the second is also a minimum score but this is for qualifying for a low interest rate. Keep in mind that when buying a home there are many types of loans that one can attain. There are conventional loans, FHA Loans, and VA Loans, all with different minimum credit score requirements.

Credit Cards
Credit card lenders do not reveal their requirements unlike mortgages, credit card issuers don’t disclose their standards. There is no data readily available to the public in regards to credit cards.

Car Loans
Also with car loans, there are no set standards, and credit score requirements vary from one lender to the next. Just like the rest of the type of loans (mortgages and credit cards) it is best to keep your credit score in the above average section of credit score rating. To get the best possible interest rate available as well as the type of loan you can be approved for.

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