Real Estate with Angela Carpio

When applying for a mortgage, it's important to know what to avoid doing when applying for a home loan. Here are the top 10 actions that could put your loan application - and your dream home - at risk. 1. Changing Jobs A lender is going to want to make sure that you have a stable income and that you can afford to pay your monthly mortgage every month so hold off on making career changes until after you close escrow.  2. Opening and Closing Lines of Credit Opening or closing credit accounts can negatively impact your credit score. This may put your chances of getting approved at risk. You can pay off account balances but keep your credit cards open.  3. Using Credit Cards Excessively Do not add to your debt! 4. Spending Your "Closing Cost" Money You want to make sure you have your money for your "closing cost" ready when it's time to send it.  6. Making Large Deposits or Withdrawals Anything out of the ordinary, including large deposits or withdrawals can rai...

Reasons to Purchase A New Construction Home If you've spent some time checking out the real estate market but can't find a previously-loved home that suits your style and needs, you might be better off purchasing a newly constructed home. Here are reasons to purchase a new construction home.  1. Better Floor Plans And Room Layout That Meets Your Needs New construction home allows you to choose a modern design and layout that fits your style. From flooring to countertops to cabinet finishes, your home will be tailored according to your preference. 2. All New, Under Warranty A new construction home and everything in it, often comes with warranty. Every builders offers their unique warranty on their homes to coverage workmanship and house materials confident that the quality of their design, construction and appliance installation is up to standard. This warranty gives you peace of mind during your home buying process.  3. Energy and Cost Savings With the integration of adva...

5 Questions To Ask Yourself Before Buying A Home 1. What is my credit score? The impact of credit score on interest rates can be significant. The higher your credit score, the better your interest rate. The lower your interest rate, the more you can afford. 2. Can I afford the monthly mortgage payment and still be able to afford my current lifestyle? Stay at a monthly payment that you would be comfortable making every month and would still allow you to live the lifestyle you are accustomed to. Life happens and when it does, you want to still be able to afford your mortgage so as not to lose your home. Say NO to being house poor!!! 3.What other debts do I have? Be realistic about what you can afford. You have to take into account ALL of your credit obligations including your estimated monthly mortgage to figure out whether you're ready to buy a house. You don't want to own a home and eat ramen everyday trying to make ends meet.  4. What are the other cost of home ownership and c...

 Which one is right for you? Here are some things to consider.  Renting Benefits You pay less up front fees. Security deposit and first and last month rent requirement typically is less than one would pay in comparison to down payment for a mortgage Landlord handles repairs and certain upkeep of the house Relocating is easier. Considerations Limited ability to customize your living space Rent may increase in the future.  No tax incentives associated with renting Renting don't build equity Landlord may be unresponsive Landlord may decide to sell or decide to stop renting You're paying off your landlord's mortgage Owning Benefits Building equity which may increase your wealth. Ability to customize and renovate the home to fit your taste.  Tax benefits. Sense of stability. Create retirement security.  Mortgage payment stay the same each month (fixed rate mortgage) Home value typically go up over time.  Considerations Higher upfront financial expense (down paym...

Do you really need to work with a Realtor when purchasing your home? The short answer is no. Should you? The obvious answer is YES! You need someone who will guide you through out this process, negotiate on your behalf and look out for your best interest. Seller has a real estate professional working for them, why should you not? Why it's important to work with a Realtor? Agents can give you access to current active and sold data.          It allows you to make an informed decision especially when making an offer when you have current active and sold data.  Agents can provide you with a buyer's packet.           The packet contains information about the home buying process, including contracts, reports about the neighborhood, market stats and information about your agent and the company he or she works for so you as a buyer can do your due diligence.  Agents have a process for finding the right house.    ...

Next to the family room, a kitchen has been a place where people gather and entertain. It is one of the reasons why most home buyers prefer an updated kitchen when looking to own their home. You want to sell your home for more? Update your kitchen.  Here are budget-friendly kitchen updates that will give your kitchen a fresh new look and get your home ready to sell. Update your lighting. Look for a stylish but inexpensive lighting that can make a strong design statement for the space. For under a $100, this small but impactful update can change the look and feel of your kitchen.  Change out the hardware.  You can find kitchen knobs and pulls online for under $50. With a little bit of elbow grease and a bit of time, changing your kitchen hardware can make a huge impact on your kitchen's look and style.  Cabinet pulls from Amazon (not sponsored) Clear the clutter. Here's one way to get your kitchen ready before selling it. Clear the clutter. Hide the small applian...

You think you're ready to own your home? Here are financial steps you can take before you start searching for home.  BUILD YOUR CREDIT.   Your credit score is one of the factors the lender will look at when you are applying for a loan. Each loan has a minimum credit score requirement. The higher your credit score, the better your interest rate will be, the more purchasing power you have.  Boost your credit score by: Pay bills on time Make frequent payments Dispute credit report errors Get a secured card Request a credit limit increase SAVE FOR DOWN PAYMENT Some buyers are able to borrow money from their 401K while others from their friends or relatives to help them with their down payment. Unless you're working with VA loan, you are going to need down payment when purchasing a home. The higher your down payment, the lower your monthly mortgage will be.  Ways to save: Automate a fixed amount into a special savings account very month Cut some unnecessary expenses ...