RE/MAX 440
John F. O'Hara

John F. O'Hara
731 W Skippack Pike  Blue Bell  PA 19422
Phone:  610-277-4060
Office:  215-643-3200
Cell:  267-481-1786
Fax:  267-354-6973

My Blog

Step One in the Mortgage Process: Review Credit

June 4, 2015 1:24 am

If you are considering buying a home, understanding your credit report and score is the first step toward obtaining financing for your purchase. According to a recent TransUnion report, a majority of would-be homebuyers remain misinformed about the mortgage process, including the factors dependent on credit scores and steps to improve credit before buying.

“Leading up to a home purchase is a particularly important time to check and understand your credit score, as it affects lending rates and mortgage terms,” explains Ken Chaplin, SVP at TransUnion. “We recommend prospective home buyers begin regularly checking their score at least three months before securing a mortgage in order to maximize their potential for the best financing options.”

Per the report, half of potential homebuyers correctly identified what factors can be impacted by a credit score, including interest rates, the amount they can borrow and their mortgage lending terms.

Less than half of potential homebuyers, however, understand their credit score measures the amount of debt they hold, the risk of not repaying back a loan, or the financial resources they have to pay back loans. About a third of prospective homebuyers incorrectly believe increasing their income or closing old accounts before applying for a mortgage would help improve their scores.

A nearly equal amount of potential homebuyers believe one month prior to purchasing is a suitable timeframe to check credit scores. One month gives homebuyers little time to take action if they discover fraudulent activity like identity theft or old, unpaid credit card debt that could negatively affect their score.

After reviewing your credit report and score, take time to research loans, rates and brokers before signing a contract. Doing this work ahead of time will pay off later with a better rate and terms. Be realistic with what you can afford. The larger your down payment, the wider your options. Putting more money down, up front, will help ensure you pay less each month.

Source: TransUnion

Published with permission from RISMedia.


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5 Tips for a Tidier Home

June 3, 2015 1:18 am

(Family Features) No one wants to spend their weekend doing chores, especially when pleasant weather arrives. Get a handle on household dirt with these efficient, effective cleaning tips from the experts at home product provider Eureka.

1. Repel sweaty hands and scratches. Use furniture polish with a citrus base when cleaning appliances. These products create a low-friction surface that reduce scratches and leave an oily layer which keeps sweaty palms and fingerprints at bay.

2. Organize the entryway. Make outdoor fun more accessible with a tidy entryway, mud room or coat closet. Create bins to organize all accessories for outdoor activities: balls and gloves in one bin, swimming toys and goggles in another, and so on.

3. Recruit a cleaning crew. Give the kids something to do in summer with a few daily chores. This will lighten your load and teach lessons of accountability and responsibility. Even little mess-makers can help with age-appropriate jobs, such as picking up toys or sorting laundry by color. Create a chore chart to help keep everyone on task and ensure chores are completed in a timely fashion.

4. Create a clutter-free zone. Give yourself a little breathing room and assign a special area where no personal belongings can be placed. The kitchen is a great spot to keep clutter-free so meal prep is easier and there's a comfortable place for the family to gather.

5. Dust daily. Set aside just 10 to 15 minutes a day to properly dust one room in the home. A microfiber cloth attached to the end of a long pole with a rubber band is an easy way to reach tough spots such as light fixtures, ceilings and corners, as well as baseboards and behind heavy furniture.

Source: Walmart.com/Eureka

Published with permission from RISMedia.


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