Jena Khabazeh's Blog
A credit score is an essential factor that determines how creditworthy you are and how much interest you should pay on loans. If you have an excellent credit score, you will pay a lower interest rate on loans and credit lines all through your lifetime. Apart from reducing your interest rate, a good credit score helps you save more money that should have gone into interest payment.
Your credit score is also a basis on which lenders determine if you are creditworthy. Other businesses have now adopted the credit score method as a basis to make decisions about you. Firms like the insurance company and utility company are among the few who have chosen this appraisal style. Having a bad credit score leaves you in a bad position. To determine factors that affect your credit score, read through the points listed below.
Late Payment History
Having a history of late payments would affect your credit score by about 35%. Payment history is the most significant factor that determines your creditworthiness. Payment history like bankruptcy, tax liens, collections, foreclosure, and charge – offs would destroy your credit score – making it almost impossible for you to be creditworthy.
Level of Debt
Debt utilization ratio makes up about 30% of your credit score. Having a huge debt will negatively affect your credit score and also increase how much you would pay on the interest rate. FICO credit calculator determines your credit score by calculating...
- Your credit balance ratio against your credit limit.
- Total debt you incur.
- How much loan balance you have left as against the original amount loaned
A single default on your loan repayment can leave your credit score in shambles. A person with a high credit score that declares bankruptcy loses up to 250 points, a foreclosed home would lose 200 points off the credit score of its owner. This information remains on your file for as long as seven to ten years.
Being unemployed for an extended period puts you in the wrong place. It’s something everyone goes through at a point or the other in their lives. Taking money out of your unemployment benefit will leave a slightly negative impact on your credit score. You might be wondering why it so? Credit bureaus do not know you are unemployed; all they see is a reduction in your income without a corresponding increase. It’s advisable you do this for a very short while.
Having a low credit score is not the end of the world; it’s your ability to work on changing this score that matters. Work with a personal financial consultant to develop a plan to improve your credit score.
You know you want to pursue a home, and as such, likely plan to attend lots of house showings in the near future. Before you check out a residence in-person, however, it generally is a good idea to prepare as much as possible. That way, you can use a home showing to learn about a residence, evaluate a house's pros and cons and determine if a particular home is right for you.
Ultimately, there are many factors to consider before you attend a home showing, and these factors include:
1. Your Home Must-Haves
It often helps to make a list of "must-haves" prior to launching a house search. With this list at your disposal, you can narrow your home search and schedule showings for residences that offer the features you want.
You may want to put together a list of preferred cities and towns, too. This list will help you hone your house search to residences in cities and towns where you want to live. Then, you can set up showings to view residences in these areas.
2. Your Homebuying Budget
You likely have only a finite amount of money you can spend on a residence. If you start a house search with a budget in hand, you can search for homes that fall in line with your finances and schedule property showings accordingly.
Typically, it helps to get pre-approved for a mortgage. If you meet with a variety of banks and credit unions, you can learn about different home financing options. You then can select a mortgage and start to schedule showings for residences that correspond to your budget.
3. Your Homebuying Timeline
If you want to buy a house as quickly as possible, you may want to start scheduling home showings right away. This will enable you to find and relocate to a new home without delay.
On the other hand, if you can afford to be patient, you may want to take a wait-and-see approach to home showings. In this scenario, you may want to keep a close eye on the housing sector in your preferred cities and towns. Because if you do so, you can pounce at opportunities to view quality residences as soon as they become available.
As you get ready to pursue your ideal residence, you may want to hire a real estate agent as well. A real estate agent can set up home showings and offer tips and recommendations to help you streamline your house search. In addition, if you ever have questions during the homebuying journey, a real estate agent can instantly respond to them.
When it comes to home showings, it may be beneficial to prepare. If you consider the aforementioned factors prior to a house showing, you may boost the likelihood of finding your dream house. Perhaps best of all, you could speed up your home search and discover a great residence that you can enjoy for years to come.
It's no news that termites and white ants cause severe damages to the home. They might attack your house in no time. Hence, termite control has become one of the necessities to prevent the termites from invading your house. Some people control termites by using chemicals in residential areas or working places, where they can survive and breathe.
Important things to know about termites
- Termites generally lay their eggs in the spring season. They give eggs in the moist soil and then enter the house to provide some nourishment to them. Therefore, it is better to control termites before the beginning of spring season. However, be careful as termites can attack in any season.
- Two places to look for termites are the kitchen and the bathroom because in these two areas there is maximum use of water. Regularly check the pipes and taps for leakage. If you own a house or farm made of wood, then controlling termite infestation should be your top most priority. It is one of the crucial issues or problems faced by homeowners.
Primarily, start with termite prevention. If you do not have termites, it does not mean that you cannot have them. So, stop them from invading your crops or properties. To prevent the termites, you have to make your home an unfavorable hideout for termites. Following are some ways of preventing termites from invading your house:
- Trim all dense greenery, bushes, and shrubs away from your property's foundation.
- Never leave ﬁrewood around your house; it works as a magnet for attracting termites. If you have to keep ﬁrewood outside your home during the winter season, then keep it at some height off the ground.
- Remove all loose woods, tree stumps and lumber from the boundary of your home.
- Keep downspouts and gutters free of accumulated debris and leaves. As termites cannot survive on wood only, keeping these areas clean will prevent termites from invading your house. Obstructions and clogs attract termites.
- Seal all holes and any cracks in the foundation of your home. Termite prevention is possible only if you keep your house ventilated, particularly the attics of the house. Your rooms should be spacious enough to have the right circulation of air, as moisture attracts termites. Never allow water to be stored anywhere around your house as it may lead to severe house damage.
It is always better to opt for termite prevention before the construction of your property. If you plan to construct a house entirely from wood, then ensure to use treated wood. Borate is one of the most common treated woods that prevent the termite from invading them as their food. Do not allow the wood to have any contact with the earth because this will give easy access to the termites.
After you complete a condo inspection, you'll need to make a major decision: Should you move forward with your condo purchase or rescind your offer?
Ultimately, there are several important questions to assess before you finalize your decision on a condo, including:
1. What was discovered during the property inspection?
Study the results of a condo inspection closely. By doing so, you'll be able to learn about a condo's strengths and weaknesses and plan accordingly.
A property inspector will evaluate a condo both inside and out. He or she also will provide honest, unbiased feedback, enabling you to make an informed decision about how to proceed with a condo.
Take into account major and minor condo problems that a property inspector discovers. And if this inspector finds minor flaws associated with a condo, you may want to stay the course and move forward with your initial proposal.
On the other hand, if a property inspector finds significant problems with a condo, i.e. issues that may prove to be costly and time-consuming, you may want to consider rescinding your offer. Or, in this case, you can always ask the condo owner to complete property repairs before you finalize a condo purchase.
2. How much will it cost to perform assorted condo repairs?
The costs associated with condo repairs will vary. However, if you allocate the time and resources to learn about condo problems and the costs associated to fix these issues, you may be able to avoid expensive, time-intensive mistakes.
For example, consider what might happen if a property inspector discovers a defective kitchen light switch in a condo. Although this light switch is a problem, the time and costs needed to repair or replace the faulty light switch likely are minimal. As such, a condo buyer may choose to ignore this problem, or a condo owner may be willing to complete the fix quickly.
Conversely, consider what could happen if a property inspector finds that a condo's furnace is defective. It may cost thousands of dollars to fix or replace a faulty furnace. As a result, a condo buyer may ask the property seller to repair or replace the defective furnace. And if the condo owner fails to do so, a buyer may choose to walk away from the condo purchase altogether.
3. Can I enjoy this condo both now and in the future?
It is essential to consider both the short- and long-term ramifications of a condo purchase. That way, a condo buyer can determine whether a property can serve him or her well for years to come.
A property inspection offers valuable information that a buyer can use to assess the pros and cons of purchasing a condo. Furthermore, a condo buyer who works with an experienced real estate agent can get the support needed to make the best decision possible.
Consider the aforementioned questions as you evaluate your options following a condo inspection, and you should have no trouble deciding whether a particular condo is right for you.
According to recent data, allergies affect up to 30% of adults and 40% of children in the United States. Over-the-counter medications can provide some relief, but allergies persist and are a source of discomfort and annoyance for many of us.
One place we can all agree should be a place of comfort and relaxation is our homes. However, allergies are at their fiercest in most homes from dust, pets, pollen, or even mold.
In today’s post, we’re going to talk about some common household allergens and how to protect your home against them.
Safeguard your home against mold
Mold is gross at its best and dangerous at its worst. Caused by excess moisture, the most important thing you can do to prevent mold in your home is to identify areas that are at risk.
Bathrooms, basements, and around faucets are all prone to water damage and mold. Usually, the best intervention to take is to provide proper ventilation. A well-ventilated room dries out quicker and prevents mold from growing in the first place.
Many surfaces in your home, such as wood, drywall, paper, and cardboard are all susceptible to mold growth. Use a mold-inhibiting paint to prevent the mold from growing in the first place.
Prevent indoor pollen
Protecting your home from pollen is trickier than you might think. Most of us like to open doors and windows in the summer time to let fresh air in. The problem? We inadvertently let the pollen in as well.
There are a number of ways to decrease pollen inside of your home. Using HEPA complaint filters in your home and vacuum cleaner can help.
Vacuuming often and emptying the vacuum outside can also have an impact on reducing pollen indoors.
Defend against dust mites
Arguably the nastiest item on the list, dust mites feed on dead skin and love warm temperatures and moderate humidity. This makes the interior of your home the perfect place for dust mites to thrive.
Frequently washing your bedding, dusting your home, and vacuuming with a HEPA certified filter are among the best things you can do to help reduce dust mites in the home.
Protecting against pet allergies
The most important thing you can do to prevent pet allergies is to make sure you aren’t allergic to a pet before bringing them into your home. However, if an allergy does arise, it can often be managed with the use of air and vacuum filters and a strict cleaning regimen.
Some people who suffer mild pet allergies are able to cope with them by simply making their bedroom a no-pet zone and keeping up with cleaning.
Finally, keep in mind that outdoor pets can often bring in pollen from outside. So, when letting your pets in the home in the spring and summer time, try to give them a quick brush down.