Samson Kimani's Blog
Buying a home represents a dream come true for many individuals. However, to transform this dream into a reality, you'll likely need to qualify for a mortgage.
Finding the right mortgage may seem difficult, particularly for a first-time homebuyer. Fortunately, we're here to help you make sense of all of the mortgage options at your disposal so you can select the right option based on your budget and lifestyle.
Here's a closer look at three of the most common mortgage options for homebuyers.
With a fixed-rate mortgage, there are no cost fluctuations. This means that you'll pay the same amount each month for the duration of your mortgage, regardless of economic conditions.
For example, if you sign up for a 15- or 30-year fixed-rate mortgage, you'll wind up paying the same amount each month until your mortgage is paid in full. In some instances, you may even be able to pay off your mortgage early without penalties.
A fixed-rate mortgage often serves as a great option for those who don't want to worry about mortgage bills that may fluctuate over the years. Instead, this type of mortgage guarantees that you'll be able to pay a consistent monthly amount for the life of your loan.
An adjustable-rate mortgage represents the exact opposite of its fixed-rate counterpart. The costs associated with this type of mortgage will change over time, which means you may wind up paying a fixed interest rate for the first few years of your loan and watch this rate go up a few years later.
For instance, a 5/1 adjustable-rate mortgage means that your interest rate is locked in for the first five years of your loan. After this period, the interest rate will adjust annually. Therefore, a rising interest rate may force you to allocate additional funds to cover your mortgage costs in the future.
An adjustable-rate mortgage may prove to be a viable option if you plan to live in a home for only a short amount of time. Or, if you're a college student or young professional, an adjustable-rate mortgage may help you pay less for a home now, secure your dream job and become financially stable by the time your initial interest rate period ends.
3. VA Loans
The U.S. Department of Veterans Affairs (VA) provides loans to military service members and their families. These loans are backed by the government and enable individuals to receive complete financing for a house. Thus, with a VA loan, an individual is not required to make a down payment on a house.
If you ever have concerns or questions about mortgage loans, banks and credit unions are available to help. Also, your real estate agent may be able to offer mortgage insights and tips to ensure you can secure a mortgage quickly and effortlessly.
Learn about all of the mortgage options that are available, and by doing so, you can move one step closer to buying a home that matches your budget and lifestyle.
Bring new life to your bedroom without completely redirecting. When we are tired of our existing decor it can feel like we need to start completely from scratch to obtain a whole new look. But before you begin hauling off your bed frame to the second-hand shop consider these small changes first:
Add a variety of textures via linens, upholstery, accents. Look for soft items made up of furs, textured weaves, linens, and velvet. Add interestingly woven baskets, stone, glass and polished wood. This mix will work together to create a visually interesting dynamic no matter the color palette of your room.
Install a different style of window treatments. Let more light into a room with sheer panels. Whites and creams always make for a classic look. However, if you are looking to really shake things look to other colors either as a solid or in patterns. A popular trend at the moment is upgraded solid panels. From patterns to bamboo and even embellishments you will have plenty of options to create unique-to-you treatments.
Create a statement wall without making a commitment with removable wallpaper. Since they are peel and stick they are easier to install than traditional wallpaper. They also give you the freedom to go bold with your pattern or color of choice. So why not reach for the more daring print?
If you want to add a bold print but wallpaper isn’t for you find a pattern you love on a duvet cover. They are easy to swap out as much as you’d like and can also be a great way to add more texture to your space. For example, you could add a pintucked satin or an inviting quilt with a pattern sewn throughout. It will certainly take center stage and make a statement as the focal point of the room.
Create more light in your space by installing a large mirror. Hung or leaning against a wall it helps to open up the room and allow light reach more of the room. If you have several closet doors consider installing mirrors as paneling for a chic, new look. Or create ambiance with paper lanterns. They create a soft, calming light that is perfect to read by at the end of the day.
Since these changes are so easy to make, some a matter of a few minutes, you can create subtle changes throughout each season. Swap out decorative pillows and throws, for example, for patterns and hues that still match your existing decor but better suit the mood of the season. Darker hues paired with creams and beiges create a cozy space in winter with creams or beige. And brighter cheery hues against a crisp white pop and bring energy into the room for Summer.
42 Boylston St, Randolph, MA 02368
42 Boylston St, Randolph, MA 02368