Posts with tag 'Tips for Buyers'
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18
15 Real Estate Terms to Study Up On
Whether you are preparing to sell your existing property or looking for Belleville homes for sale, studying up on real estate terms will help the process go smoothly.
When entering the real estate market, preparation is vital to successful transactions. If you cannot remember all the different definitions, do not worry. Our real estate agents are available to answer any of your questions. Here is a list of some basic real estate terms to get you started.
- Buyer's Agent: In a real estate transacti...
16
5 Things People Forget to do After They Move
With so much to do after a big move, it's easy to overlook some smaller details. Things you'd never forget normally can slip through the cracks when you're celebrating – and resting up! – after moving into one of the great Belleville homes for sale.
Our REALTORS® strive to make every part of buying a home more comfortable, including the move. Many of our clients have reached out with stories of things they forgot to take care of, so we decided to delve deeper and find out what goes undone the most.
In the chaos of packing and unpacking, important administrative tasks can fall by the wayside. And the further you're moving, the more valuable it is to remember to do those things promptly.
Let's take a closer look at five things people forget to do after they move:
- Turn Utilities On (And Off) Before Moving Day
It may take up to two weeks to have electric and water service turned on at your new home, so contact utilities as soon as moving day is circled on the calendar. At the same time, be sure you notify existing utilities that you will be moving out. Service in your name must cease before new residents can move in and get everything under their own account.
3
What You Need to Know About Using a VA Loan in 2020
VA home loans provide a fantastic opportunity for veterans and their families to put a solid foundation under their financial future. There are some changes to the VA home loan program that make it easier for soldiers, sailors, and airmen to purchase a home. These changes will affect loan limits, fees, and other elements of the program that our REALTORS® want you to know about and think over before you apply.
Funding Fees Rise for Some Borrowers
The funding fee for VA home loans is rising to 2.30% for first-time active duty borrowers, which is a slight increase over the 2.15% it is at currently. This change will go into effect on January 1, 2021, so there is still plenty of time to purchase a home before it affects borrowers. On the other side of the coin, Purple Heart recipients who are still on active duty will no longer have to pay the funding fee starting on January 1, 2020. The subsequent use fee is also rising. It is currently set at 3.3% but will increase to 3.6% on January 1, 2020.
The Funding Fees are based on a sliding scale for regular military personnel based on their down payment.
| Down Payment | Fee for First-Time Home Buyers | Fee for Subsequent Use |
| 0% | 2.3% | 3.6% |
| 5-10% | 1.65% | 1.65% |
| >10% | 1.4% | 1.4% |
Further, the Blue Water Navy Vietnam Veterans Act of 2019 streamlines the funding fees for all military personnel. Starting January 1, 2020, National Guard, reservists, and active-duty personnel will be subject to the same funding fees without distinction to which branch they serve.