RE/MAX Town & Country



Posted by Debra & John Blanchet on 2/21/2018

Home insurance can be one of the more significant expenses when you’re a homeowner. You may feel that you’ll be stuck in the same monthly premium month after month, but there’s plenty of ways that you can save on your home insurance by making a few cuts here and there. 


Get A Higher Deductible


Just like any kind of insurance, the higher that your deductible is, the lower your premiums. The main problem with this is that when you need to make a smaller claim, the insurance may not cover any of the cost. Compare the risk of paying for expenses out of pocket to the benefits of a lower insurance premium. 


Get An Alarm System


Having an alarm system can help you to save money on your home insurance. The types of alarm systems that are directly connected to police departments or a central monitoring place will save you more money. You’ll need proof of this in order to get a discount. 

Other alarm systems like CO2 detectors and smoke alarms are generally required by law in a home, but check with your insurance company. You could save a little extra for your efforts to protect your family and home. 


Use One Insurance Company For Everything


Most insurance companies offer more than one type of insurance. This means that they love customers who use their policies to cover everything. Bundling your home, auto and life insurance with one company can help to save you some cash.


Own Your Home


Yes, paying your mortgage off completely sounds like a feat. Once the mortgage is paid off, however, you’ll have lower insurance premiums. This is for the simple reason that insurance companies feel that once you own the home, you’ll be more mindful of taking care of it. 


Think Before You Build


Building an addition on a home or putting in a swimming pool may sound like a great idea at first. You’ll need to think of how these construction projects will affect your premiums. A swimming pool raises your liability risk. Wood structures are considered highly flammable and cost more to insure. Many things that you put in your home can drive up the cost of your policy.  


Review Your Policy Often


You always have the right to do some comparison shopping once you get an insurance quote from one company. The place you work for may even offer some sort of group rate for insurance. Associations that you belong to may also be able to help save you some money. Do a little ground work and you may be able to save big just by comparing policies and levels of coverage.                  


Assess Your Valuables


The whole point of insurance is for you to be able to replace your valuables if damaged or stolen. If items in your home have changed, you may want to reassess the contents of your home and just how much coverage you need. If you have less to replace, you’ll save on your insurance premiums because the value of your policy will go down.





Posted by Debra & John Blanchet on 2/18/2018

 
This Single-Family in West Warwick, RI recently sold for $238,000. This Colonial style home was sold by Joann Ayala with The Blanchet Group at RE/MAX Town & Country.


36 Summit AV, West Warwick RI, 02893

Single-Family

$238,000
Price
$238,000
Sale Price

4
Beds Total
9
Numberof Rooms
2/1
Full/Half Baths
Absolutely charming Colonial that has been meticulously renovated. This home boasts a spacious floor plan with new gourmet kitchen featuring granite counters and stainless appliances. Also new roof, windows, siding, 200 amp electric, central air, master suite with magazine quality bath, home office plus 4 beds, gleaming hardwood floors, original crafted woodwork, WOW! A gem!

Similar Properties
5 Emerson CT, West Warwick, RI
mainphoto
Single-Family
$259,900
7
Rooms
3
Beds
1
Baths
13 Longbow DR, West Warwick, RI
mainphoto
Single-Family
$259,900
8
Rooms
4
Beds
2
Baths
14 Davis ST, West Warwick, RI
mainphoto
Single-Family
$259,900
8
Rooms
4
Beds
2
Baths
24 Medieval WY, West Warwick, RI
mainphoto
Single-Family
$249,900
7
Rooms
3
Beds
2
Baths
37 Enfield DR, West Warwick, RI
mainphoto
Single-Family
$239,900
5
Rooms
2
Beds
2
Baths





Categories: Sold Homes  


Posted by Debra & John Blanchet on 2/14/2018

Credit is tied to most big financial decisions you will make in your life. From things as little as opening up a store card at the mall to buying your first home, your credit score is going to play a factor. When it comes to mortgages, lenders take your credit score, particularly your FICO score, into consideration in determining the interest rate that you will likely be stuck with for years. How is your credit score determined and what can you do to use it to get a better rate on your mortgage? We'll cover all of that and more in this article.

Deciphering credit scores

Most major lenders assign your credit score based on the information provided by three national credit bureaus: Equifax, Experian, and TransUnion. These companies report your credit history to FICO, who give you a score from 300 to 850 (850 being the best your score can get). When applying for a mortgage (or attempting to be pre-approved for a home loan), the lender you choose will weight several aspects to determine if they will lend money to you and under what terms they will lend you the money. Among these are your employment status, current salary, your savings and assets, and your credit score. Lenders use this data to attempt to determine how likely you are to pay off your debt. To be considered a "safe" person to lend money to it will require a combination of things, including good credit. What is good credit? Credit scores are based on five components:
  • 35%: your payment history
  • 30%: your debt amount
  • 15%: length of your credit history
  • 10%: types of credit you have used
  • 10%: recent credit inquiries (such as taking out new loans or opening new credit cards)
As you can see, paying your bills and loans on time each month is the key factor in determining your credit score. Also important, however, is keeping your total amount of debt low. Most aspects of your credit score are in your control. Only 10% of your score is determined by the length of your credit history (i.e., when you opened your first card or took out your first loan). To build your credit score, you'll need to focus on lowering your balances, making on-time payments, and giving yourself time to diversify your credit.

What does this mean for taking out mortgages?

A higher credit score will get you a lower interest rate. By the time you pay off your mortgage, just a hundred points on your credit score could save you thousands on your mortgage, and that's not including the money you might save by getting lower interest rates on other loans as well. If you would like to buy a home within the next few years, take this time to focus on building your credit score:
  • If you have high balances, do your best to lower them
  • If you have a tendency to miss payments, set recurring reminders in your phone to make sure you pay on time
  • If you don't have diverse credit, it could be a good time to take out a loan or open your first credit card
When it comes time to apply for a mortgage, you'll thank yourself for focusing more on your credit score.




Tags: Mortgage   credit score   loan   credit   home loan  
Categories: mortgage   credit score   loan   credit   home loan  


Posted by Debra & John Blanchet on 2/7/2018

After you submit an offer on a home and complete a property inspection, there may be only a short amount of time until you close.

Ultimately, it pays to prepare for closing day. If you start planning for your home closing today, you can identify and address any potential problems.

To better understand how to get ready for a home closing, let's take a look at three questions to consider before your closing.

1. What needs to get done before my closing date?

Your closing date may be a few weeks away, but time moves quickly, particularly for a homebuyer who wants to get into a new residence as quickly as possible. Fortunately, homebuyers who understand what needs to get done prior to a closing can plan accordingly.

Typically, a homebuyer will need to secure homeowners insurance and title insurance before closing on a house. Insurance companies are available to provide information about both types of insurance. If you reach out to these companies immediately, you can guarantee that your home and personal belongings will be covered against loss or damage.

You'll need to contact utilities providers as well. That way, you can ensure that your gas, electric and other utilities are good to go as soon as you close on your home.

2. How much are my monthly mortgage payments?

You know that you've been pre-approved for a mortgage. However, if you don't know how much that you'll be paying for your home each month, you'll certainly want to find out sooner rather than later.

Monthly mortgage payments can add up quickly, particularly for homebuyers who fail to budget properly. If you know exactly how much that you'll be paying each month for your home, you can effectively map out a budget.

3. What do I need to bring to my closing?

Homebuyers are required to bring a government-issued ID to a closing. In some instances, you may need to provide a certified or cashier's check to cover assorted closing costs as well.

If you are unsure about what to bring to a home closing, it often helps to consult with a real estate agent. In fact, this housing market professional can help you seamlessly navigate all stages of the homebuying cycle.

Prior to a home closing, a real estate agent is happy to respond to any concerns or questions that you may have. This housing market professional will explain how the home closing process works, how long the process generally takes to complete and, perhaps most important, when you'll receive the keys to your house.

A real estate agent also goes above and beyond the call of duty to provide assistance throughout the homebuying journey. He or she can help you compare and contrast a broad range of houses, submit a competitive offer on a home and ensure that you can discover your dream residence in no time at all.

Get ready for a home closing – consider the aforementioned questions, and you can prep for your closing date.





Posted by Debra & John Blanchet on 1/31/2018

A closing represents the final stage before a buyer acquires a house. At this point, a buyer and seller will meet and finalize an agreement. And if everything goes according to plan, a buyer will exit a closing as the owner of a new residence.

Ultimately, there are several steps that a buyer should complete to prepare for a home closing, and these are:

1. Review Your Home Financing

Typically, a lender will provide full details about your monthly mortgage payments for the duration of your home loan. This information is important, as it highlights exactly how much that you will be paying for your house.

Assess your home loan information prior to a closing. That way, if you have any home loan concerns or questions, you can address them before your closing day arrives.

If you allocate the necessary time and resources to review your home financing, you may be able to alleviate stress prior to closing day. In fact, once you know that all of your home financing is in order, you can enter a closing with the confidence that you'll be able to cover your mortgage expenses.

2. Perform a Final Walk-Through

A final walk-through provides a last opportunity to evaluate a residence before you complete your purchase. Thus, you will want to take advantage of this opportunity to ensure that a seller has completed any requested repairs and guarantee that a house matches your expectations.

Oftentimes, a final walk-through requires only a few minutes to complete. The inspection generally may be completed a few days before a closing as well.

It is essential to keep in mind, however, that a final walk-through won't always go according to plan. If you give yourself plenty of time for a final walk-through, you should have no trouble getting the best-possible results.

Try to schedule a final walk-through at least a week before a closing. By doing so, you'll ensure that a seller can perform any requested repairs prior to closing day.

3. Get Your Paperwork Ready

During a home closing, you'll likely need to provide proof of home insurance, a government-issued photo ID and other paperwork. If you get required documents ready ahead of time, you won't have to scramble at the last minute to retrieve assorted paperwork for your closing.

If you need help preparing for a home closing, there is no need to worry. Real estate agents are available nationwide, and these housing market professionals can guide you along each stage of the homebuying journey.

A real estate agent will help you find a house, submit an offer on it and conduct a house inspection. Plus, this housing market professional can provide recommendations throughout the homebuying process to help you achieve your desired results. And as closing day approaches, a real estate agent is available to respond to your homebuying concerns and questions too.

Prepare for a home closing – follow the aforementioned steps, and you can seamlessly navigate the home closing process.







Tags