The purchase price of the home you agree to buy will obviously have a direct impact on your mortgage payment.  But the actual mortgage product itself will heavily influence these payments as well.

Different terms, interest rates, fees, and insurance premiums can make your mortgage more or less expensive. That’s why it’s important that you work with a lender who can offer you the most affordable and convenient mortgage product.

When you’re on the prowl for a mortgage lender, keep the following tips in mind to help you choose the right one.

1. Understand What Type of Professional You Want to Work With

When it comes to mortgages, there are different professionals involved in this sphere. It’s in your best interests to understand the various types of experts involved in mortgages and determine which one you’d prefer to work with.

Banks and credit unions: This is the more common source for mortgages. After all, everyone has their bank that they hold their checking or savings account with, so banks and credit unions are typically the obvious first option. But banks and credit unions are only able to offer their own products, so you could be limiting yourself to what they have available to offer you.

Mortgage brokers: These specialists don’t work for a bank or credit union, so they don’t have any of their own products to sell. Instead, mortgage brokers work on behalf of the buyer to find the best mortgage product available to meet the buyer’s needs.

These professionals do all the leg work on behalf of buyers and negotiate with various lenders. As such, you don’t need to do any of the comparison shopping yourself. This can save you a ton of time and money at the end of the day.

Alternative lenders: More and more online lenders and “bad credit” lenders are popping up, giving buyers a much larger pool of options in terms of where to get their mortgages.

Online lenders make the process convenient by allowing borrowers to apply for mortgages completely online without having to visit a bank in person. And private lenders provide borrowers with bad credit options when banks turn them down for a mortgage. It should be noted that it’s always important to be vigilant about potential predatory lenders who may not have borrowers’ best interests at heart.

2. Find the Lowest Rate

Lenders who offer the lowest interest rate are obviously going to get the most attention among borrowers, and rightfully so. Ideally, you want to lock in at the lowest possible rate. Doing so can help you save tens of thousands of dollars over the life of your loan.

Lenders often compete with each other for your business, and that often means offering the best rate they can possibly offer. However, it’s important to make sure that all other aspects of the mortgage are looked at in great detail to make sure you’re not inadvertently paying more at the end of the day because of exorbitant fees, which we’ll get into later.

3. Find the Best Terms

The interest rate of a mortgage is certainly an important aspect to look at. But the terms of the mortgage are just as important, as they will dictate how well you’ll be able to manage your mortgage. Consider the following mortgage terms:

• Early repayment penalties
• Late payment fees
• Payment frequency
• Ability to convert from an adjustable- to a fixed-rate mortgage
• Flexibility to make occasional lump sum payments towards the principal
• Ability to apply the mortgage to another property if you sell

4. Identify All the Fees That Are Charged

As if the mortgage itself wasn’t already a hefty payment to make every month, there are fees that lenders charge that you will be responsible to pay as well. Different lenders have their own sets of fees that borrowers have to pay, so you’ll definitely want to get a run-down of what these fees are and how much it will cost you.

The types of fees you may find on a lender’s contract include the following:

• Origination fees – This fee covers a mortgage broker’s time spent helping you find and process your mortgage.
• Application fees – The administration required to pull your credit report and collect all necessary paperwork is paid for through an application fee.
• Rate lock fees – If you find a great interest rate and want to make sure it doesn’t increase by the time your mortgage approval is finalized, you can lock it in. But there will typically be a fee associated with this service.
• Underwriting fees – This fee covers the cost of closing and funding the mortgage.
• Appraisal fees – Lenders send professional appraisers out to verify the value of a property before they agree to extend a loan. Buyers are usually responsible for paying for appraisals.

5. Comparison Shop

Different mortgage lenders will have their own mortgage products to offer home buyers, each of which will come with its own terms, fees, and interest rates.

It’s always important to compare different lenders and their respective products to find the one that best suits your situation. Much like you would comparison shop when buying any other product to find the best deal, the same theory applies to shopping for a mortgage.

You can save some time by checking online, as most lenders will have pertinent information about their product posted via the web. Just keep in mind that the information may be changed based on your credit health, assets, debt, and all other factors that influence your financial situation.

You can also work with a mortgage broker who can comparison shop for you rather than you having to do it yourself, as mentioned earlier.

6. Ask Your Agent

Your real estate agent is probably the best person to ask if you’re looking for a mortgage lender to work with. These professionals usually deal with a large network of other industry-related experts, including mortgage specialists. Odds are your agent probably knows someone who would be a good fit for you, so make sure to ask before you start looking.

The Bottom Line

You don’t have to settle for your regular banker when it comes time to get a mortgage. Instead, there are plenty of different mortgage products and lenders out there for you to peruse. Make sure to do your due diligence and compare different lenders and their products to find the best, most affordable mortgage that you can qualify for.

If you want your home to stand out from the crowd and entice buyers to put in an offer, you’d be well advised to have it staged. But there’s a right way and a wrong way to stage a home for the market.

While there are plenty of things that can help improve the way a home is presented to buyers, there are plenty of other blunders that can send buyers in the other direction.

When staging your home to sell, make sure not to make the following mistakes.

1. Neglecting to Depersonalize

One of the first rules when it comes to staging homes for sale is to make sure they have been depersonalized and neutralized. That means making the home look as if it’s ready to take on new owners and a new family without leaving remnants and reminders of the people who live there now.

You might have your own tastes, but that doesn’t mean that all buyers will necessarily feel the same way. You might have an eccentric sense of style which tickles your fancy, but it might have the opposite effect on buyers.

The goal is to attract buyers and impress them enough that they actually want to spend the big bucks on your home. But if your home is overly decked out in quirky finishes and colors, you could risk turning buyers off.

2. Leaving Your Family Photos Up

Creating a space that makes the majority of buyers able to see themselves living there can be impossible if your home is still covered in family photos. If you want to scream that another family is still living in the home, then leaving your family pictures hanging on all walls or perched up on all shelves is the way to do it. But you should be striving to do the opposite.

You’ll make it very difficult for buyers to be able to see themselves living in your home if it is still filled with pictures of your family. You’d be doing yourself a favor by putting them away and ready to be moved to your new home.

3. Not Tending to Your Yard

Focusing on the interior of your home is great, but what about the outside? After all, the exterior of your home is the first thing that buyers will see. If you’ve neglected to trim the bushes, mow the lawn, and water your flowers, your home’s curb appeal will suffer, and so will your efforts to attract a willing buyer.

If the look of your home from the curb isn’t appealing, buyers will be likely to move on to the next home on their list.

4. Forgetting to Clean Out Your Closets

You may have decluttered your home, taken down all your personal artifacts and photos, and decked out your home with all the right furniture pieces and accessories. But have you given your closets any attention? You can bet your bottom dollar that buyers will open all your closet doors, and the last thing they want to be greeted by is a pile of items that come crashing down on them the second they open the door.

Not only is that annoying, but it will also do little to show buyers that your home has decent storage. Your closets should be organized and have just enough items for the space to comfortably fit them. Clean closets will help sell the storage factor of your home. But if your closets are in complete disarray, you’ll be doing your listing a disservice.

5. Not Making Minor Repairs

You might not think that a chipped tile, burned-out lightbulb, or loose doorknob is a big deal, but it is to buyers. Ideally, buyers want to be able to walk into a home and see that it’s move-in ready.

But things that need repair – even minor ones – will stand out to buyers. The last thing they want to see is a home that is in need of extra attention after a deal is sealed. No matter how well your home is staged, neglecting to make minor repairs can be a turn-off for buyers.

6. Not Converting Rooms Back to Their Original Purpose

You may not have a need for that third bedroom and may have been using it as a home office or at-home gym. But when it’s time to sell your home, you’ll want to convert it back to its original intended purpose. A three-bedroom home is certainly more valuable than a two-bedroom home, especially if the neighborhood calls for it.

And if buyers are looking for three-bedrooms – and your home is advertised as such – then all three bedrooms should be used and staged as such. Not converting certain rooms back to their original intended use can sabotage your sale.

7. Leaving Your Collections Out

Whether you collect stamps, spoons from across the globe, or mini crystal figurines, they should be tucked away when your home is on the market. Collections like these will only make your home look cluttered, which is never a good thing. While these may be treasures to you, buyers might not feel the same way.

8. Furnishing With Off-Scale Pieces

The pieces that you furnish your home with should be relative to the scale of each room. For instance, a small room filled with oversized bulky sofas and chairs will only make the room seem smaller, while a large space equipped with only a couple of dainty chairs can make the space seem off-balance and cold.

Not choosing the right-sized furniture according to the scale of each room in your home will do little to impress buyers and help them develop an emotional connection to your home.

9. Blanketing the Whole Home in the Same Color

Neutral colors are always recommended for sellers when staging their homes. These colors will be more appreciated to buyers as opposed to much brighter, more vibrant hues that not everyone might like. But splashing the exact same color across every room in the home is not exactly a good idea, either. Doing so will just make your home look boring and dull.

The Bottom Line

Staging is a fantastic opportunity to showcase your home in the best light possible and help you increase your odds of selling quickly and for more money. But how you stage your home matters. Be sure to streamline your efforts and focus on tasks that have been shown to help boost home sales while leaving the above-mentioned mistakes by the wayside.

Babies are innocent, but they still manage to get themselves into trouble when they become mobile. Once they start crawling and (gasp) walking, they can easily get into some mischief that can lead to injury. That’s why it’s so important to take measures to keep your child out of harm’s way.

Of course, you’ll definitely want to prevent them from touching a hot stove or falling down the stairs, but there are plenty of other not-so-obvious potential hazards that you’ll want to take care of to protect your precious little one.

1. Secure Bookshelves and Other Furniture

Babies have a tendency to climb things, and if they happen to latch onto a shelf, they can send it tumbling on top of them. To prevent this from happening, secure your bookshelves to the walls.

Any other piece of furniture that has the possibility of toppling over should also be affixed to prevent them from tipping over on top of your child.

2. Cover Electrical Outlets

Electrical outlet plugs have been around for decades to help parents baby-proof their homes. They’re handy at preventing babies from sticking their little fingers in the sockets and getting a major shock.

But be sure to choose outlet covers that make it easy for parents to still access the outlets. The traditional covers can be tough to remove whenever you need to plug something in, so consider getting yourself covers that come with sliders that still make it easier for you to gain access to the outlets while making it tough for your little one to do the same.

3. Cover Stove/Oven Knobs

Once babies are able to stand up and reach the knobs on the stove, you can be sure that they’ll want to grab onto them and see what they are. Unfortunately, they can inadvertently turn them on while satisfying their curiosity.

To prevent them from turning on the stove or oven, place transparent covers over them, which you can find at stores catering to babies and young children.

4. Keep Items Over the Crib Lightweight

Whether you have a mobile, light fixture, or artwork hanging over your baby’s crib, make sure it’s not too heavy. If your baby grabs a hold of it or it falls on its own, it can really cause harm if the item in question falls on top of your little one. As such, make sure that whatever you’ve got over the top of the crib is safe enough to be hung in that spot.

5. Remove Glass From Wall Art

It doesn’t take much for babies and toddlers to lift up artwork hanging on walls (if they’re tall enough to reach or the art is hanging low). And once that artwork comes off the hook, it can easily come crashing down on your baby.

That glass can quickly shatter when it hits the floor, leaving your baby in a sea of sharp-edged glass pieces. To keep your baby safe, remove the glass in front of any artwork that’s within reach.

6. Cushion Sharp Corners and Edges

As babies learn to walk, they inevitably bump into things, and many times their heads are what come into contact with things that are in their way. While this might be OK with many furniture pieces, it’s the sharp corner and edges that you have to watch out for. Smacking their head onto a sharp edge or poking their eyes with a sharp corner can do some damage.

To avoid these mishaps, consider covering these sharp edges and corners with specially-made cushions that you stick onto the areas that need attention.

7. Turn Down the Water Temperature

The temperature of your water can be adjusted, so you’ll want to take advantage of this flexibility. The water that comes out of your hot water spout can be piping hot, which can scald your baby’s delicate skin immediately. As such, be sure to reduce the temperature of your hot water.

Speaking of tubs, be sure to place a non-slip mat along the bottom to prevent any slips and falls. And while you’re at it, consider covering the bathtub spout with something soft in case your baby bumps his or her head on it.

8. Prevent Strangulation By Cutting Looped Cords on Blinds

If your home’s windows are outfitted with blinds, odds are there are dangling cords that are just begging to be tugged at by your little one. The problem with these cords is that they present a real danger to little children in the form of accidental strangulation.

If your baby gets caught in the cord, this can spell disaster. To prevent any mishaps from occurring, cut the loops of the blinds’ cords, and keep them out of reach completely.

The Bottom Line

The aesthetics of your home are certainly important, but with a baby in the home, safety always takes top priority. Luckily, there are plenty of things you can do to baby-proof your home without compromising style. Just a few simple tactics can make your home a lot safer for your little one.

When you reach a certain age, your needs and tastes may be different than what they may have been in your younger years, and that includes your housing arrangement.

Maybe your current home is getting to be too much for you to maintain, or perhaps climbing up and down the stairs is becoming tiresome and even difficult. Or maybe you’re ready to be surrounded by peers within the same age group and are looking for something to keep you engaged and active when you retire.

If that’s the case, then a 55+ community might be the right move to make at this stage in your life.

What is a 55+ Community?

As the name suggests, a 55+ community is geared towards those who are 55 years of age and older. They’re not designed for young families with children or even middle-aged professionals. Instead, they’re designed with people who are nearing or in their retirement years.

This particular age demographic has many different needs and tastes that those who are much younger, and as such, they’re designed to accommodate these specific requirements.

Here are some of the benefits of 55+ communities.

1. Properties Are Designed Specifically For Seniors

The home that you may have bought when you were younger may have suited you well back then, but perhaps it doesn’t work as well for you today. Rather than making structural changes to your current home to suit your needs or your changing mobility issues, moving into a place that’s already structured to make mobility much easier might be a better idea. 

2. Residents Are in the Same Age Demographic

One of the biggest advantages of living in a 55+ active community is that you’ll be surrounded by others in the same age group. If there are no friends or family nearby, seniors can end up becoming increasingly lonely in a neighborhood filled with younger residents or children.

A 55+ community solves this issue by attracting those who are in the same age demographic and who are looking for the same types of amenities and activities.

3. Quiet Environment

As the name suggests, no one under the age of 55 is permitted to live on the premises. While family can visit, no children will be running around on a regular basis, which makes these communities quieter places to live. If you’re looking for a tranquil home and community, these active senior living communities are a great option.

4. Security

Active 55+ communities typically come with on-site security that residents can take advantage of. If you’re on your own, living in a community that offers 24/7 security features can not only make you feel more secure but can help your family ease their worries about you living on your own. If security is an important feature for you, then a 55+ community may be an ideal choice for you.

5. Plenty of Amenities and Events

Active living communities typically implement a number of amenities and events that are designed to keep residents active, engaged, and entertained. These communities usually offer onsite opportunities to socialize, stay physically fit, and even volunteer.

You can expect to have amenities such as swimming pools, fitness centers, yoga classes, social events and gatherings, and even organized outings. Such amenities and events can help fill your days with enjoyment and can help you stay active and engaged in your community.

6. Less Maintenance to Worry About

No one really enjoys the regular ongoing maintenance that usually accompanies homeownership. But in a 55+ community, the majority of maintenance is taken care of. That means less work and time spent maintaining your property and more time enjoying the company and amenities that your new community has to offer.

7. Medical Facilities in Close Proximity

As you age, having quick and easy access to medical assistance becomes an increasingly important concern. The great thing about 55+ communities is that they’re typically constructed within close proximity to healthcare centers. While there might not be any physicians or nurses on site, you can rest easy knowing that medical help is usually just a quick commute away.

Should You Buy Into a 55+ Community?

There are definitely plenty of perks of buying into a 55+ community, but it may not necessarily be right for everyone. It’s important to note that while these communities are designed for those who are in their later stages of life, they don’t provide onsite medical care or support that assisted living facilities do. Instead, these are active lifestyle communities.

Those who are 55 years of age or over and are relatively healthy would benefit best from communities like these. If onsite healthcare services are not required on a daily basis, this type of investment might be better suited for them as opposed to someone who may require more hands-on medical care and attention.

The Bottom Line

If you’re approaching your senior years and have a penchant for staying active and being surrounded by like-minded peers, then perhaps a move to a 55+ community may be the right one for to you make at some point. Just be sure to ask plenty of questions and find out everything there is to know about a particular community, including amenities and rules. With a trusted real estate agent by your side, you’ll have all the support and guidance you need to choose the community that’s best suited for you.