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Tag: Mississippi Mortgages

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Design Trends for 2021

design trends of 2021

It is hard to believe that 2021 is a couple of months away! With a new year approaching quickly, now is the time to start thinking about how you want to update your space in 2021. If you’re wondering how the design trends are looking for the new year, here is a great place to start!

Less Is More

After Marie Kondo took over last year, there is no surprise that the idea of ‘less is more’ is trending in the decor space. Take the time to check each space in your home and ensure your decor is intentional. Make sure all of your belongings have a place and that they all serve a purpose.

Scandinavian and Japanese style

Both cultures celebrate minimalism while also encouraging functionality. With white shades dominating spaces in this style, you will also find natural woods and materials in large spaces that are open and bright.

Personalization

One of the most marked trends in interior design is focused on the personalization of your space. Take into account what you already love when creating spaces in your home without worrying about what others consider stylish or up-to-date. Let your creativity shine through your space.

A Touch of Color

Neutrals are great in most settings, but a pop of color allows you to add personality to your space. Yellow shades add warmth while blue shades give a sharpness and can be used to enhance certain elements of a room. If you want to introduce a little color, use colors inspired by nature.

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4 Tips For Making a Competitive Offer

Most areas of the country are experiencing a brisk real estate market. Well priced homes are moving quickly and often sellers have multiple offers from which to choose. How can you make your offer stand out and put you in a better position to get the home? Fortunately there are a few things you can do to make your offer more attractive to sellers.

  1. Offer a Fair Price – When the market is moving quickly, this is not the time to throw out a low ball offer and hope they negotiate. Write an honest price based on market values.
  2. Have a Pre-­‐Approval – It may not be enough to simply offer a pre-­qualification letter. When issuing a pre-­‐approval the lender verifies your qualifications and an underwriter gives preliminary approval based on the actual home and a good appraisal.
  3. Flexible Timing – Not everything comes down to price. A seller who is relocation might be more interested in an offer which gives them extra time to move.
  4. Attractive Terms – Most offers include contingencies for items like appraisal, inspection, title, loan approval among others. Working with your lender and real estate agent, consider removing any contingencies you don’t need. If you plan to remodel extensively for instance, you might remove the home inspection contingency. This provides more confidence in your offer vs the competition.

The most important thing in a competitive real estate market is being prepared. Working with your lender and agent, you will understand your options and be able to write a solid offer quickly, putting you in the best position to have your offer accepted.

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What Type of Mortgage is Right for Me?

When our parents were buying their first home, there was one way to finance the purchase. You would walk down to the corner bank and asked for a 30 year mortgage. Today the average home owner moves every 5-7 years. Depending on your needs there are a number of mortgage options you might consider, each with its own advantages and disadvantages, spending some time to understand the options is the best way to choose the right loan for your needs. 

While loan programs and terms vary, the most common are: 

Conventional – A conventional loan is normally still designed to be paid off in 30 years with equal monthly payments during the term of the loan. There are currently conventional loans that require as little as 5% down, although 20-25% is still commonplace. 

FHA – An FHA loan is guaranteed by the Federal Housing Administration and is attractive for a number of reasons, especially for the first time home buyer. The down payment can be as little as 3.5% and that can be a gift. 

VA – VA (Veteran Affairs) is a loan program offered for Veterans and their spouses. While the terms can vary from 0-5% down payment, this loan may allow the borrower to finance as much as 100% of the home’s value in the loan. 

Your lender will also have more specialized options for you, such as adjustable rate loans and 10 or 15 year loans. They can also explain the additional costs that could be associated with each type of loan program. 

Part of purchasing a home is to find the right financing. Your lender will talk you through your options. If you have not already spoken to a lender, or if you need a referral, your real estate agent is a great resource for you. 

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