Caroline Bianchi - RE/MAX Acclaim



Posted by Caroline Bianchi on 8/4/2017

When it comes to home buying a home, there’s a ton of different information available out there. A lot of what has been presented as “fact” actually is quite false. These misconceptions could keep you away from achieving the very real dream of home ownership. Below, you’ll find some of the most common myths that you’ll find about home buying.


If Your Credit Score Isn’t Up To Par, You Can’t Buy


To get good mortgage rates, having a good credit score doesn’t hurt. You can still buy a home if you don’t have amazing credit. A low credit score means that your mortgage rates will be higher than the average. There are loans like FHA loans, that allow for you to get a loan with a credit score as low as 580. Don’t let a lower credit score discourage you from buying a home. If your credit score is low, there are plenty of things that you can do to help you fix the score in a short period of time.  


You Need 20 Percent Down To Buy A Home


This is a long-standing myth about home buying. While putting down 20 percent on a home purchase saves you the extra expense of Private Mortgage Insurance (PMI), you can still be in the running to buy a home if your down payment is less than 20 percent. There are even some home loan programs that allow buyers to put as little as 0-3 percent down for the purchase of their home.


You Have To Make A Lot Of Money To Buy A Home


Your monthly income is one of many aspects of your financial life that’s considered when you’re buying a home. Home loans can be denied to those who make a large income just as easily as to those who have lower incomes. What matters is the debt-to-income ratio, which tells lenders how much debt a buyer has compared to the amount of income the buyer makes each and every month. Keep your debt down, and you’ll be in good shape to buy a home. 


You Don’t Need To Be Pre-Approved To Get A House


Being pre-approved gives you an upper hand in the home buying process. Being pre-approved allows your lender and you to go through the entire process of getting a mortgage. When you find a home that you love, you’re able to breeze through the process of making an offer if you’re pre-approved. The pre-approval process is one of the most important aspects of buying a home. 


If you’re prepared with knowledge, buying a home isn’t such a daunting process after all. Find a realtor you trust, understand your finances, and the rest will fall into place!




Tags: Buying a home   finances  
Categories: Uncategorized  


Posted by Caroline Bianchi on 7/14/2017

With 24 hours before you finalize your home purchase, you might feel a mix of anxiety and excitement.

What will it be like to finally own a home? How will the home closing process go? And what will I need to do to ensure everything goes seamlessly as you wrap up your home purchase? These are just some of the common questions that homebuyers consider in the hours leading up to a home closing.

It is important to prepare as much as possible before you complete a home purchase. Lucky for you, we're here to help you do just that.

Let's take a look at three tips that you can use to get ready to finish a home purchase.

1. Get Your Paperwork in Order

You may need multiple forms of identification and other essential documents when you close on a home. Thus, you should put together a folder of any must-have documents at least a day in advance.

If you find that documents are missing, retrieve them as quickly as possible. Also, try to get multiple copies of important documents if you can.

When it comes to getting ready for a home closing, it usually is better to over-prepare. Therefore, if you plan ahead as much as you can, you'll have all of the documents you need to complete the home closing process without delay.

2. Finish Any Last-Minute Packing

After you finalize a home purchase, you'll be ready to move in to your new home. As such, you should ensure that all of your belongings are packed up and ready to go.

If you're vacating an apartment, ensure that you've notified your landlord and provided sufficient notice about your upcoming move. That way, you'll be able to finish your rental agreement on good terms with your landlord.

Also, if you need extra help for your move, be sure to reach out to a moving company or family members and friends. And if you require a moving truck, don't forget to rent one in the days leading up to your move.

3. Consult with Your Real Estate Agent

The day before a home closing can be stressful, particularly for first-time homebuyers. If you have any concerns about the home closing process, be sure to consult with your real estate agent.

Your real estate agent likely has been a life-saver throughout the homebuying process thus far and will continue to assist you in any way possible. If you have questions about the home closing cycle, your real estate agent will respond to your queries immediately.

In addition, your real estate agent can teach you the ins and outs about what will happen before, during and after a home closing. He or she will explain what to look for during a final home walk-through, what home closing forms that you'll need to sign and what to expect after a home purchase.

Streamline the home closing process – use these tips, and you can get take the guesswork out of finalizing a home purchase.




Categories: Uncategorized  


Posted by Caroline Bianchi on 4/14/2017

Many factors come into play when determining whether you can afford to buy a house. Since the monthly rent for an apartment is often close to what a mortgage payment would be, you can't help but wonder if your rent money would be better spent building equity in your own home.

While this is often the case, first-time home buyers often underestimate or overlook expenses that accompany home ownership. Although a mortgage broker or bank loan officer can help you calculate the maximum mortgage you can afford, here are a few tips to keep in mind as you weigh your options.

  • Create a detailed budget. By taking the time to figure out how your income stacks up to your monthly expenses, you can get a clearer picture of your financial situation. If you have a good credit score, a positive monthly cash flow, and enough funds to pay closing costs and a down payment, then home ownership may be a viable option. (Your credit score, which you can obtain once a year for free from the three main credit reporting companies, will have a major impact on both your interest rate and your monthly mortgage payments.)
  • Factor in other expenses: Figuring out your current budget is relatively easy, but predicting your future budget as a homeowner can be a lot more challenging. A big part of the equation will depend on the amount of property taxes and school taxes that will be tacked on to your mortgage costs. A real estate agent can provide you with those figures, as well as other information you need to calculate how affordable it would be to live in a particular house. They have access to a wide range of relevant information, such as utility expenses, water bills, and homeowner association fees (if there are any). Since property taxes sometimes cover the cost of services like garbage and yard waste collection, you may not have to factor in those items into your projected budget. Your real estate agent can help you come up with a rough estimate of home maintenance costs -- especially if they're familiar with the history of the home you're considering buying. As the process moves forward, a property inspector can provide you with more details about the condition of the home and whether any costly repairs are likely to be needed soon.
  • Home maintenance and furnishing costs: Other possible expenses to consider when estimating the cost of home ownership include yard maintenance, landscaping, HVAC service calls, electrician services, plumbing repairs, and homeowners' insurance. If you're a first-time home owner, there's also a good chance you'll need to buy some furniture to fill out those additional rooms!
  • Buying your first home definitely takes a lot of planning, budgeting, and research, but the rewards of owning your own home will more than justify the effort!





    Posted by Caroline Bianchi on 2/3/2017

    Ready to buy your dream home? You'll first need to develop an effective budget. Creating and maintaining a budget remains a tall task for even thrifty homebuyers. Fortunately, we're here to help you develop a budget that complements your paycheck and helps you achieve your homeownership aspirations quickly and effortlessly. Here are three tips you can use to budget for an upcoming home purchase:

    1. Know your credit score.
    When was the last time you checked your credit score? Ultimately, this score may determine whether you're able to secure a loan with a great mortgage rate, so you'll want to check it regularly. You are eligible to receive a free credit report annually from each of the three major credit reporting agencies: Equifax, Experian and TransUnion. Each report contains information that is used to calculate your credit score, and as such, you'll want to ensure all of your credit reports include accurate information. If you discover an error on any of your credit reports, you should contact the reporting credit bureau immediately. By doing so, you can dispute and fix credit report errors. In addition, you can monitor your credit score to gain a better handle on your finances. Remember, if you have outstanding credit card bills and other debt, you'll want to pay this down as much as possible. This will allow you to bolster your credit score and improve your chances of securing your dream home.
    1. Establish savings goals.
    Saving for a new home requires hard work and patience. However, you can establish small, realistic savings goals to work toward buying a new house. For example, do you really need to buy a cup of coffee every morning from an upscale cafe? Or do you need the latest and greatest high-end fashion accessories to spice up your wardrobe? Simple sacrifices can go a long way and may help you accelerate your journey from homebuyer to homeowner. There are many simple ways to save money over an extended period of time. And if you create a budget and try to stick to it consistently, you can move closer to acquiring your dream home.
    1. Become an expert homebuyer.
    Buying a home represents a life-changing decision. Thankfully, many great resources are available to help you find the best value for your budget. Meeting with a lender enables you to map out your budget and plan accordingly. This lender can offer expert insights and ensure you can find the best mortgage rate for your upcoming purchase. Also, friends and family members who recently have purchased homes may be able to provide valuable insights into the homebuyer journey, particularly for those who are planning to purchase a home for the first time. When in doubt, it never hurts to receive expert homebuyer advice. And with assistance from lenders and past homebuyers, you should be able to discover the best way to budget for your new home. Devote the necessary time and resources to become an expert homebuyer – you'll be glad you did! As a result, you should be able to obtain your dream home without delay.





    Posted by Caroline Bianchi on 12/30/2016

    Imagine what it will be like when you discover your dream house. In all likelihood, this residence will meet all of your needs, along with your budget. However, it is important to note that the final price of your home is unlikely to be what you'll wind up paying for your new residence. There are many hidden home costs that you should consider before you finalize your home purchase, including: 1. Property Taxes Property taxes are a necessary evil. And even though every homebuyer would like to avoid them, these taxes must be paid consistently. Typically, property taxes are billed annually as a percentage of your assessed home's value. They may total thousands of dollars that you'll be responsible for paying every year, and as such, should be considered when you budget for your home purchase. Although you cannot avoid property taxes, you can plan for them. Homebuyers who budget accordingly, meanwhile, will be able to ensure that they can pay these taxes on time for the length of their mortgage. 2. Utilities You've decided to buy a home, but how do you plan to pay for electricity for your new residence? Or how do you intend to pay to heat and cool your home? Utilities are paramount, and the costs associated with utilities need to be evaluated during the homebuying process. Fortunately, working with an experienced real estate agent ensures you'll be better equipped to understand the utilities costs you may encounter when you buy a new residence. A real estate professional may be able to provide insights into how much utilities will cost based on the size of your home and your individual needs. That way, you'll be able to get a better idea about how much you'll need to save each month for electricity, heat and other utilities. 3. Home Repairs and Maintenance Even a brand new house will require repairs and maintenance over time. And even though every room in a home looks like it is in great shape now, the same may not hold true even a week, month or year from now. Putting aside money each month enables you to prepare for any minor or major home repair or maintenance projects that could arise. Furthermore, those who are in dire need of extensive home repairs may be able to apply for a home improvement loan to ensure they can get any home improvement projects done as soon as possible. Remember, planning ahead usually is a good idea, particularly for homebuyers. Budgeting for the unforeseen costs associated with buying and owning a home is important, and doing so will ensure you're prepared for any challenges that may come your way. Creating a budget and sticking to it can help you find a great home that won't force you to stretch beyond your means. Plus, those who develop a budget that includes potential hidden homebuying and homeownership costs can avoid the risk of falling into debt. Prepare for the hidden costs of buying a new residence, and you'll be able to maximize the value of your purchase.