Ten tips to save you money in your home

Ten tips to save you money in your home

 

It doesn’t matter whether you own your home or rent.  Easy approaches can help you save money within your home.  Homes.com offers some simple tips:

 

Ø Programmable Thermostats:  for about $50-$100, programmable “smart” thermostats save hundreds of dollars yearly on electric bills. Some models come with Wi-Fi so you can turn down the thermostat remotely.

Ø Low-Flow Shower:  Take an environmentally friendly step by replacing outdated showerheads with new low-flow models.  This can reduce your water use in the shower by 25%-60%, as well as increasing hot water efficiency.

Ø Extra Payment: one additional mortgage payment a year can save thousands on annual interest payments, based on a 30-year loan.

Ø Unplug:  Unplug or use a smart power strip to save an estimated 5%-10%.  Many appliances and other electrical gadgets consume power even when turned off.

Ø House Plants:  Air purifiers can cost hundreds of dollars.  Consider house- plants to help remove toxins from the air and add color, warmth and comfort.

Ø Avoid the Draft: As your home ages, hot and cold air from outside can often creep inside.  Weatherproofing is inexpensive and simple.  It can save you up to 15% of heating and cooling costs. Do your research to see what weatherproofing needs your home would benefit from.

Ø Do-it-yourself: In the mood to redecorate? Making your home feel like new can be costly. Jump on the DIY bandwagon or check out free DIY workshops at local stores like Home Depot and Lowe’s. 

Ø Ceiling Fans:  Air conditioning uses 3,500 watts of energy, while a ceiling fan only uses 60 watts.  Set the fan to run clockwise in the winter to reverse the motion and push warm air down.

Ø Shop your home:  Look for budget friendly tweaks you can make before making new home accessory purchases.  Rearrange furniture and lighting to change the feel of any space.  You can even switch decorations in between rooms to make them feel different.

Ø Laundry:  Washing in cold water and using the dryer efficiently by filling but not overfilling the machine.  Some energy-efficient appliances can qualify your family for an additional tax credit.

 

Exploring ways to reduce home expenses can help you save for important upgrades in the future.

Thank you,
Ainsley Daux
Florida Realty
(813)435-3013

Hillsborough County’s New Program HOUSING REHABILITATION PROGRAM

Hillsborough County’s New Program

 

HOUSING

REHABILITATION PROGRAM

 

Florida Home Partnership (FHP), a nonprofit Community Housing Development Organization, administers Hillsborough County’s Owner Occupied Housing Rehabilitation Program.

 

The Housing rehabilitation program provides financial assistance to income eligible homeowners for making needed repairs on single family and town homes to meet housing code requirements.  Financial assistance is provided in the form of a 0% interest loan or grant.

 

FHP staff will work with the homeowner to create a construction repair list and to supervise the entire repair process.  To apply to the program, homeowners must…….

 

·        Live in unincorporated Hillsborough County or the cities of Temple Terrace or Plant City.

·        Live in homes that meet property eligibility requirements.   Mobile homes are not included.

·        Have lived in their home for at least two years prior to date of application.

·        Not have received financial assistance within the last 5 years through another program from the Affordable Housing Services.

·        Be current on their existing mortgage and property taxes.

·        Have incomes at or below 80% of the Area Median Income.

 

Contact Florida Home Partnership for more information and to schedule an appointment.

813.672.7889

www.flhome.org

Please fee free to call or email:

Ainsley Daux
Florida Realty
(813)546-1954

What is a HUD HOME

What is a HUD Home?

A HUD home is a residential home backed by an FHA insured mortgage that has been foreclosed by HUD. HUD becomes the property owner and offers it for sale to recover the loss on the foreclosure claim. HUD is a government entity that stands for Housing and Urban Development; there are many different sectors under the HUD umbrella including foreclosures owned by HUD.

HUD Announces Launch of HUD Home Store

A few years ago launched a listing site for its list of homes it acquired thru foreclosure. The site, HUD Home Store.com  provides a list of their homes. This new site provides the public, brokers, state and local governments and nonprofit organizations a centralized location to search the inventory of HUD properties for sale. In addition, registered real estate brokers and other approved organizations can place bids on behalf of their clients to purchase a HUD property.
 Can I buy a HUD Home with a $100 Down?

Yes you can. Its not  a myth.
The program is for owner occupants purchasing a HUD HOME with FHA financing. Normally when purchasing a home using FHA, the required down payment is 3.5% of the purchase price. The $100 Down Program helps promote home ownership and minimizes out of pocket expenses for the buyers.

There are some requirements for this incentive program. The property must be a HUD home and purchased by an owner occupant who will live in the home for at least one year. The buyer must qualify for a loan through FHA financing or FHA Home Repair financing (203k). The buyer must bid f through a HUD-registered Broker/Agent.

HUD also allows for up to 3% toward closing costs if requested.
For more information, please visit www.HUDHOMESTORE.com
Please feel free to call or email with any questions or concerns.
Thank you,

Ainsley Daux
Florida Realty
HUD Registered Brokerage
Lic Realtor
(813)546-1954

 

Lenders are Lowering their FICO scores

                          Lenders are Lowering their FICO scores

 

 

FICO stands for Fair Issac and Company.

FICO provides analytics and decision making services which includes credit scoring, it measures the credit risk of an individual and report them to the 3 credit bureaus which are: Equifax, Experian, and Transunion

 

It appears that the market is bouncing back, higher sale volumes and now more banks are lowering minimum FICO score requirements. By lowering the FICO score, it should assist underserved borrow to hopefully purchase a home

I just read yesterday Carrington Mortgage Services  lowered its minimum FICO score to 550.

Wells Fargo, the nation’s largest mortgage lender, said in February that it was lowering its minimum FICO score requirements on FHA-backed mortgages from 640 to 600.

According to Carrington, one in three consumers has a FICO score below 650. Saying that, I believe it’s a great ideal to reach out to those consumers with lower scores just they a lower does not mean they can not pay their mortgage.   I’m certain the lenders  will factor other conditions  other tha just the FICO score to determine a prospective buyer will qualify. According to Carrington, which says it’s refocusing its business on the underserved segment and eliminating conventional and jumbo loans. In addition to accepting more lower-score borrowers, it’s also limiting its acceptance of wholesale submissions with FICO scores above 680 starting April 1, except for VA loans, HousingWire reports.

Ray Brousseau, executive vice president of Carrington’s mortgage lending division.  states“Effectively meeting the needs of clients in the underserved market requires the ability to both originate quality loans and appropriately service them after the fact with them.”

This new initiative will give the market a good boost, although the sales volume has picked up, there is still ahugh inventory of vacant and distressed homes out there..

Source: “Carrington Ups Ante on Wells Fargo by Lowering FICO Standard,” HousingWire (March 24, 2014

Please feel free to call or email with any questions or concerns regarding your real estate needs.

 

Ainsley Daux

Florida Realty

(813)546-1954

902 w Lumsden rd

Brandon, FL. 33511

I serve the Tampa Bay Area

WHAT IS THE BIGGERT-WATERS FLOOD INSURANCE Reform Act of 2012

              WHAT IS THE BIGGERT-WATERS FLOOD INSURANCE  Reform Act of 2012

The Biggert-Waters Flood Ins act was passed in July 2012 by Congress. The act calls on FEMA (Federal Emergency Management Agency) and other agencies involved in insurance to make changes to the way the National Flood Insurance Programs works.
The most important factor of the act states that National Flood Insurance Program is to raise rates to reflect true flood risk, and figure out how to make the program more affordable. Once the changes are implemented, it will mean increase in insurance premium rates.
Its imperative that a prospective buyer and current home owner speak to an  insurance agent to determine if a policy will be affected.
For more information go directly to FEMA's site reformhttp://www.fema.gov/flood-insurance-reform
or speak to a Home insurance agent...

Ainsley Daux
Florida Realty
(813)546-1954

Conventional Loan Update

                                            Conventional Loan Update

You can finance the purchase of your home plus repairs on a Conventional loan (Not an FHA 203K)

Below are the down payments required...

 

5% Down Owner Occupied

10% Down Second Homes

20% Down Investment Properties ($100,000 minimum loan amount for investment properties)

 

Must have a licensed contractor complete the repairs. Buyer can not complete the repairs. As long as the repairs are supported by the appraisal and connected to the property, there is no limitation to the repairs that can be financed. Unlike FHA, luxury items such as swimming pools can be financed.

I am not a loan officer, for more direct information, please contact a mortgage broker or loan officer

Thank you,

 

 

Ainsley Daux

Florida Realty

(813)546-1954

 

Tampa Bay Short Sale Guy

 

902 w Lumsden rd

Brandon, Fl. 33511

ste: 103

2013’s biggest mortgage lenders

2013’s biggest mortgage lenders

According to Mortgage Daily’s Mortgage Origination Survey and an analysis of earnings data at mortgage-related firms Residential loan originations were down more than 14 percent in 2013.In the final three months of 2013, almost all mortgage bankers saw a sharp drop in originations

One of  the main reasons for the down turn is  interest rates is because 30-year fixed rates increased from 3.666 percent at the end of 2012 to 4.808 percent by the end of last year, according to the Mortgage Market Index from Loan Sifter and Mortgage Daily.

Wells Fargo holds the No. 1 lender spot, closing 19 percent of all home loans last year.

The five-biggest mortgage lenders were collectively responsible for 43 percent of 2013’s activity.

Originations (billions)
Wells Fargo: $351
JPMorgan Chase & Co.: $168
Bank of America Corp.: $90
U.S. Bank Home Mortgage: $85
Quicken Loans Inc.: $79

 Ainsley Daux

Florida Realty

813-546-1954

www.brandonpremierrealestate.com

Brandon Real Estate

902 w Lumsden rd

Brandon, Fl .33511