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Fixed Rate Home Mortgage Loan Options

January 11th, 2008    Subscribe To Our Feed

Fixed Rate Mortgage Loans

Fixed rate mortgage loans are for consumers who want financial consistency and stability. Your interest rate will not change over the life of the loan, unlike other adjustable mortgage loans that change in accordance with a market index. There are many fixed rate mortgage options available and several of the most common ones are listed below:

1. New Home Loan

Your family has found the perfect home and now it is time to finder a lender. LCD will help you figure out how much you can afford by calculating your debt and other monthly expenses and subtracting them from your gross income. By submitting our quick and easy application, one of our mortgage specialists will be in contact with you to discuss which option is best for you.

2. Refinance Your Current Mortgage

Refinancing allows homeowners to pay off an existing home loan with the proceeds of another loan using the same property as collateral. These loans are often easy to obtain and offer substantial savings to most homeowners by offering a lower rate that will in turn lead to lower monthly payments. Also, if you include debt consolidation, you can save even more money on your monthly bills by disposing of those high interest credit cards, student loans and/or car loans. To find out if you qualify for fixed rate refinancing, simply fill out our online mortgage application or give us a call.

3. Second Mortgage Loans / Home Equity Loans

Second Mortgages (also known as home equity loans) are secured against the same property as your primary mortgage and are based on the amount of equity (the difference between the market value of the property and any outstanding loan balance) you have. For example, if you own a home worth $100,000, and it does not have a lien (a form of security interest placed over real estate to secure the payment of a loan) on it, you may be eligible to take an equity loan at an 80% loan to value ratio (LTV), or $80,000 in cash in exchange for a lien on your home. If you have two properties, you can try to use the equity in both. Your household income could also determine how much money you will qualify for in comparison to the amount of equity you have on your home.

Fixed rate mortgages can be beneficial in many ways and are great for consumers who rely on a fixed income because there are no surprises with the monthly payments. Locking in a fixed rate can offer substantial savings over an adjustable rate mortgage, especially in times when the market index is high. LCD offers a variety of programs for our customers looking for a fixed rate and we offer a variety of loan terms to fit your needs.

We highly suggest you seek the advice of a qualified financial consultant before deciding on a fixed rate mortgage loan. A professional consultant is always available at Loan Choice Direct, so please call us (1-888-523-8523) today to find the best solution for your needs.

You can also apply with our quick and easy application and one of our financial consultants will get in touch with you shortly.

Martin Hayes is a Customer Service Specialist with Loan Choice Direct.

For mortgage refinance help including many more articles like this one, please head over to http://www.loanchoicedirect.com to receive your free mortgage refinance quote.

What Does It Cost To Build A Home In Ocala?

January 11th, 2008    Subscribe To Our Feed

Marion County, where the city of Ocala is located, has seen burgeoning growth, and it continues to rapidly rise till the present day, and is dramatically changing the face of the county. Nowhere is that more evident than on State Road 200, where commercial and residential development moved at a fever pitch. In 1995, Ocala was named the fifth best place to live in the U.S. by Money magazine.

The city was named an All-America City earlier in the year, and moved up in the national rankings from 78th place in 1994. It was also named the second best mid-sized metropolitan area in the nation and the second best city in the South. The city offers investors with not just lovely horse farms and estates, which Ocala is famous for, but also an assortment of industries and employment opportunities ranging from electronics, aerospace development, manufacturing, real estate and tourism.

Affordable Housing

Marion County, as well as Ocala, offers several affordable housing programs for income-eligible households. The County provides medium-income families a State Housing Initiative Partnership or SHIP, and the Community Development Block Grant or CDBG for home purchase or rehabilitation outside of the city limits.

In Ocala, the CDBG Housing Rehabilitation Program, which utilizes federal funds, along with the state-funded SHIP program is offered to income eligible residents who wish to buy homes within the city limits. Each year, several home events are also hosted by the city, expose potential buyers to the area’s developers.

Two of the city’s major annual events are the annual spring Parade of Homes and the Fall Showcase of Homes. The Marion County Building Industry Association sponsors both events. Homes usually range from the more affordable end of just over $100,000 to those considered in the luxury price range of over $500,000.

Tips For Ocala Home-seekers

The local local realtors association is a good first step in looking for a nice home. Most local brokers suggest stopping by the local Chamber of Commerce for those new to the area and looking for a house. They note that a wealth of information is available to help make the search easier. In addition to contacting a local property broker of choice and getting referrals from peers, they also suggest getting in the car and driving around town, to better learn the area.

For the second quarter of 2007, the median prices of homes in Marion County was pegged at $170,900, which represents a slight jump from $169,500 for the same period in 2006. The National Association of Realtors reported a U.S. median home price of $223,800 for the second quarter of 2007 compared to $227,100 in 2006. Statewide, the median price for the period was $221,200, down from $243,300 in 2006.

Most major housing indicators show the market in Ocala is leaning toward the area of being a buyer’s market. Housing analysts say this is being driven by the increasing inventory of both new and existing homes. During 2006-2007, Marion County reported 2,698 permits for construction of single-family homes, which is down from 6,355 in the 2005-2006 fiscal year.

As for construction of multi-family homes, which include condos, town homes and apartments, there was a slight increase in 2007 with 48 permits versus 37 permits in 2006.

Vanessa A. Doctor from Ocala Real Estate

Tips for Low Cost Kitchen Renovations

January 11th, 2008    Subscribe To Our Feed

The kitchen of a fixer upper home should get a lot of attention. Since this can be rather expensive, we’ve put together some tips for keeping the improvement low cost.

When you consider renovations in your home, there are many factors to consider. Your budget is one of the most important considerations that you will make. Some rooms will cost more to renovate than others. In fact, your kitchen renovation will be a big expense. If you are moving walls, changing plumbing, installing new cabinets and getting new appliances, you are easily looking at thousands of dollars. However, the good news is that there are things that you can do to renovate your kitchen and save money at the same time. It is possible to remodel without breaking the bank.

Take a Look at What you Have:

When you start your kitchen remodel, then first thing you will want to do when you want or need to save a lot of money is to take a good look at what you already have. Make a list of what you can use again and what really needs to be replaced. For example, if you think you would like new kitchen cabinets, but you are afraid that you will not be able to afford what you want, then consider using your existing cabinets. You can update them with a fresh coat of paint or have them refinished. Add some new hardware and you will have a like-new look at a fraction of the price. The same goes for your appliances. You may have an almond colored refrigerator and long for a stainless steel look. Did you know that it might be possible to outfit your existing appliances with a stainless overlay? This will certainly breathe new life into your kitchen renovations without spending so much money. You can get information on this by searching the web or by visiting your local home improvement store.

Look For Discounts

The next thing you will want to do is to shop for discounts. If you need new flooring, then go where you can get it for less. Wholesale stores are the perfect place to begin. These stores often carry limited quantities of items, so if you shop there regularly, you are bound to find something you love. Also, check with places such as Home Depot and Lowe’s for their specials. You may even think about applying for a store credit card when they offer a zero percent interest financing deal. If you are spending a lot of money on your project, you may very well save a lot of money by doing this.

Do it Yourself and Save Of course, another way to save a bundle on any home improvement project is to get into the do it yourself craze. Think about the projects that need to be completed. What can you do without hiring a professional? The answer might surprise you. Many renovations projects are not as difficult as they seem. You only need some information and the right tools and equipment. You can learn techniques online or by taking a couple of courses. When you cut out the middle man and do the work yourself, you will see that you will save hundreds, if not thousands of dollars.

John Bakers wrote especially for http://www.kitchen-cabinets-tips.com, a website with topics around refacing, furniture and various other ideas. You can discover his publications on new kitchens at many different sources for new kitchens information.

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