Top Tips for Potential & Veteran Homeowners

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The Ten Commandments of Applying for a Real Estate Loan 

 

When applying for a real estate loan, there are important rules to follow to ensure a smooth loan process. Here, we list the ten commandments when applying for a real estate loan.
 

  1. Thou shalt not change jobs, become self-employed, or quit your job. 
  1. Thou shalt not lease/buy a car, truck, or van (or you may be living in it!). 
  1. Thou shalt not use charge/credit cards excessively or let your accounts fall behind. 
  1. Thou shalt not spend money you have set aside for the closing. 
  1. Thou shalt not omit debts or liabilities from your loan application. 
  1. Thou shalt not buy furniture on credit. 
  1. Thou shalt not originate any inquiries into your credit file such as opening a new credit card. 
  1. Thou shalt not make large deposits without first checking with your loan officer. 
  1. Thou shalt not change bank accounts. 
  1. Thou shalt not co-sign a loan for anyone. 

 

How to Maintain Your Home When You’re Away 

 

During the summer, many people leave their homes to go either upstate or to New Jersey.  There are some things you should remember before you leave for your next vacation. 

First, tidy up your home.  This means that you must make sure to clean out the refrigerator, take out the trash, and double-check the laundry. 

 

To lower the risk, and even prevent, untoward incidents while you are away, make sure to unplug electronics around the house that don’t need power while you’re gone.  Not only will it save on your energy bill, it will lower the risk of an electrical fire.  Remember also to program your thermostat and to put lights on timers. 

 

It is also be a good idea to ask a neighbor to gather your mail and any fliers or newspapers thrown on to your porch or driveway. 

 

Lastly, it would really be wise to check all the windows and doors.  Make sure that all possible entry points around your home are secure and that you haven’t left any seldom-used doors or windows unlocked or cracked open. 

 

Prevent Termite Infestation 

When thinking about pests, one of the worst types to encounter are termites.  While there are some pests such as ants and stink bugs that are considered nuisance pests, termites are one kind of insect that can do a significant amount of damage to a home or apartment. 

 

These creatures eat their way through wooden structures, which means they can destroy anything from walls to floors to ceilings.  The damage that termites do can be significant. One of the frustrating things about termite infestations is that they can cause a lot of damage before you even notice them and they can end up costing you thousands of dollars in repairs. 

 

Knowing the signs can help identify a current infestation, such as stuck windows or doors, soft or hollow-sounding wood, damage under paint or wallpaper, blistered floors, mud tubes (small holes in wood that termites plug with mud) or termite droppings. However, the best way to deal with termites is to prevent them before they start damaging your home or apartment. While prevention methods aren’t ever completely effective, they can help. Here are some termite prevention tips: 

  • Get rid of excess moisture by fixing leaky faucets and pipes. 
  • Install weather stripping around doors and windows. 
  • Keep decaying wood or firewood away from the exterior of your home. 
  • Considering getting an annual or semi-annual termite inspection. 

FAST FACT  

Around 100,000 homes are impacted by termite damage in the U.S. each year.  Nationally, people collectively spend about $5 billion on termite issues annually. Each homeowner impacted spends around $3,000 repairing termite damage.