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

Home Buying Tips for New Parents

January 29, 2015 1:00 am

Many expectant parents upgrade to larger homes when baby’s on the way. If you’re thinking of buying a new home to accommodate your growing family, it’s important to assess certain factors you may not consider otherwise, including:

Master Bedroom Proximity – Is the master bedroom on a separate floor from the others? Will you want to be adjacent to your baby’s nursery, or are you comfortable with sleeping down the hall? Always consider the layout of the bedrooms before buying.

Pool Safety – If you’re seeking a home with a pool, keep in mind that your child will likely venture outside before he or she knows how to swim. Is the pool appropriately gated, with no holes or gaps in fencing? Are all latches and locks in proper working order? Is the door leading outside secure?

Property Hazards – Evaluate the home for any potential dangers, including stairs, tree roots or uneven pavers. These can be easily overlooked by a curious child and lead to unnecessary injury.

Street Location – Take into account how far your home is from a busy area. Is the home located on a congested street? What is the posted speed limit in the area and how fast do cars typically drive through the neighborhood? Are there streetlights and crosswalks nearby?

Published with permission from RISMedia.


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Understanding the Most Important Mortgage Documents

January 29, 2015 1:00 am

Obtaining a mortgage for your first home can be a daunting task, especially when you consider the amount of paperwork required. Though your lender should explain all of the steps in the loan process clearly, it’s wise to have a basic understanding of the most important mortgage documents you’ll be signing.

Promissory Note
Contrary to popular belief, the promissory note is your actual mortgage contract, spelling out all terms associated with the loan – interest rate, payment intervals and more. The promissory note will also include a provision that states what will happen in the event that you do not repay the loan.

Settlement Statement
Also known as “the HUD,” the settlement statement spells out line-item fees, such as real estate agent, lender and title fees, prorated items like prepaid homeowners insurance and inspection costs or association dues.

Deed of Trust
The security provision in the promissory note will point to the deed of trust, which supports the lender’s claim to your property should you fall short on payments. The deed of trust also indicates specific occupancy policies associated with your specific mortgage, such as move-in date and second home use.

Source: Zillow

Published with permission from RISMedia.


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