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Our Team at HomeownerPro.com is always interested in having a conversation with you. Whether you are a homeowner who simply has questions about how to refinance your home, or a brand that wants to be a partner of ours, we want to hear from you!

Thank you and we look forward to talking more soon!

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Contact Homeowner Pro | One Stop Solution for your Home Repair

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Our Team at HomeownerPro.com is always interested in having a conversation with you. Whether you are a homeowner who simply has questions about how to refinance your home, or a brand that wants to be a partner of ours, we want to hear from you! Thank you and we look forward to talking more soon!

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About Homeowner Pro | One-Stop Shop for Homeowner Reviews

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Our goal at HomeownerPro is to provide a free resource center where homeowners can get the greatest value from one of the biggest transactions in life - buying, improving, and saving on your home. HomeownerPro is here to provide relevant news and product/services reviews to other fellow homeowners around the country.

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Shopping | Buy SimpliSafe Home Security Package

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Find best home security automation systems and devices from SimpliSafe, which is a great way to guard your home and family. Shop Now.

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Mortgage Loans are one of the largest financial burdens that we all take on as homeowners. You'd be surprised by how different each mortgage lender can be, and each of them usually offer certain benefits to specific people or financial situations. With mortgage rates currently at historic lows, it is smart to at least see what kind of options are available for you to buy a new home or refinance your existing home.

Cash out Refinance, Reverse Mortgages, VA Mortgage Loans and FHA Loans have all been popular this year. Discover more about the different types of mortgage loans that are available, or take a look at some of this year's Best Mortgage Lenders below...

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Reviews - Homeowner Pro | Flexible Home Warranty Plans

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Mortgage Loans are one of the largest financial burdens that we all take on as homeowners. You'd be surprised by how different each mortgage lender can be, and each of them usually offer certain benefits to specific people or financial situations.

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Getting a Mortgage Loan can seem daunting to comprehend. Even if you own a home already, knowing when and how to properly refinance your home can be even more challenging. However, if the proper research is done ahead of time, then getting a loan to buy your new home can be easier than you think.

Always research different mortgage types in order to find the best option for you and your family. We have broken down the most popular types of mortgage loans in 2021 and matched each scenario with the best-in-class lender to meet their needs. Lets take a look at this years best mortgage lenders for those of us looking to refinance, buy a home, retire and make money from existing equity, make home improvements/renovations and more.

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Best Mortgage Lenders | Types Of Mortgages For First-Time Home Buyers

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Getting a Mortgage Loan can seem daunting to comprehend. Even if you own a home already, knowing when and how to properly refinance your home can be even more challenging. However, if the proper research is done ahead of time, then getting a loan to buy your new home can be easier than you think.

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Best Picks: Home Security | Homeowner Pro

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Best Picks: Home Security | Homeowner Pro

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How Much Does Home Security Cost?

Home security on average can cost between $250 to $1,500 depending on your needs, getting a quote would be the best way to know exactly how much you would pay. Most people, on average, will spend around $850 but that doesn't mean that you can't find something that fits your needs for less.

Are Home Security Systems Worth It?

Home security systems are an excellent way to ensure that your home is safe. Homes with security systems and the signs for security systems in their yards are typically less likely to be targeted by burglars. The fees you pay for the system itself and the alarm monitoring company are a small price to pay for peace of mind.

How do Home Security Systems Work?

A basic home security system typically has an alarm that will go off if a door is opened after it's been armed, and some have fire alarms that are connected to the system. An alarm monitoring company will usually first try to contact you to see if it was an accident, and if not they will contact the proper authorities.

How Much is Home Security?

On average, between $250 and $1,500 plus alarm monitoring company fees. This price can vary a lot depending on your needs, but regardless of what you need and what your budget is there's something that should work for you.

How do Home Security Alarms Work?

Typically, home security alarms work by being armed from a hub then alerting an alarm monitoring company if a door or window is opened after the alarm is set. This monitoring company will then try to contact you to see if it was accidental, and if they can't reach you they'll contact the proper authorities. This isn't the way every monitoring company works, and in many cases you can change the order of contact.

What is the Best Security Alarm System for my Home?

The best security alarm system can vary from home to home based on your needs, Homeowner Pro would be happy to help you find the best system for you. Many people are happy with just cameras or just an alarm hub connected to an alarm monitoring company, and some people would prefer something much more advanced

What is a Home Security Alarm?

A home security alarm is a device that is set up to sense if any doors or windows open after the alarm is set, then will typically alert an alarm monitoring company that takes several steps to ensure your safety.

Can my Home Security Alarm Call my Phone?

Yes, if you have it set up that way. Many alarm companies have a list of contacts to call when an alarm is tripped and you can usually set that up however you like. So, for instance, if you have 2 cell phones and a home phone you can set your phone tree to try all three numbers.

How Much Does a Home Security Alarm System Cost?

Typically between $290 and $1,100. It entirely depends on what you want your system to consist of, and how advanced of security you need for your home. You can find systems both cheaper and more expensive than this though.

Where to buy Alarm Systems?

There are many places to buy alarm systems. Where you purchase your system from can be heavily influence by how heavy you need your security system to be. The heaviest security systems typically cost a lot more than lighter security systems, but you can usually find a good system at hardware stores like Home Depot and box stores like Walmart. If you need help Homeowner Pro would be happy to find the right system for you.

Where to buy Alarm Systems Online?

Amazon, Walmart, and eBay are good places to look. You can also buy alarm systems directly from home security companies. Our representatives would be happy to help you if you need assistance in finding the right system for you.

What is the Best Security Alarm System to Buy?

The best security system depends on your needs, typically ADT is a good brand to go with and is very popular. Our Home Security department would be happy to help you find the best system for your needs.

What is the Best Home Monitoring System to Buy?

This depends heavily on what your needs are, not every home needs the same level of security. You wouldn't be able to recommend the same security system as the best for both a small house and a large mansion. our home security department would be happy to help you find a home monitoring system that fits your needs best.

What is the Best Home Security System?

The best home security system can vary based on your needs.Different sized homes with different levels of goods, whether they be electronics, paintings, jewelry, or large amounts of cash, and your security system should be fit to guard the level of valuables in your home. Our home security department would be happy to help you find the best fit for your home.

What is the Best Home Alarm System?

The best home alarm system depends heavily on your needs. Every home is a little different, a large mansion would have to have a different security system than a standard single family home. Our home security department would be happy to help you find the best fit for you.

What is the Best Security System for your Home?

The best security system depends a lot on what your needs are. The security system you have should be enough to help you protect your home, so things like size and sheer amount of valuables in your home can heavily impact what security system you should get. Our home security department would be happy to help you find the best fit for your home.

How to buy a Security System?

You can contact a company, go online, into a store, or even speak with our home security department. Price ranges vary a lot, and it's always good to do your research or speak with a professional to make sure that you're getting the right kind of security system to keep your home and valuables safe from thieves.

What Alarm System Should I Get?

This can be a complicated question, it depends heavily on your needs. Large homes and homes with a lot of valuables would need a heavier security system than a small home or a home without many valuables. Our home security team would be happy to speak with you to help you find the best option for your home.

Where to buy Home Security Systems Online?

You can get home security systems from websites like Amazon, eBay, and Walmart.com with ease. When shopping online it's always a good idea to do your research to make sure that you're getting exactly what you need, this will help you be sure that you're getting the right level of protection for your home.

What is the Best Alarm Monitoring Company?

Different alarm monitoring companies offer different packages, but typically ADT is considered to be one of the best. Our home security department would be happy to help you find the best company for you.

Who is the Best Home Monitoring Company?

Each company has different things that they can offer. There are a lot of factors involved in determining what company and package suits your home best. The size of your home, how many valuables you have in your home, and crime in your neighborhood are all important factors to keep in mind. Our home security department would be happy to help you find the best one to suit your needs.

How to Choose a Home Security Company?

Shopping around on their websites can make this easy, you can also speak with our home security department. There are many factors that go into deciding what company and package you should choose for your home. These include things like crime rates in your neighborhood, the size of your home, and how many valuable things like cash, jewelry, and electronics you have in your home.

What is the Best Home Security Company?

There are many companies that offer different things, so it's hard to say which would be best for your needs. Our security department would be happy to help you find the company that's best for your home.

What Home Security Company is the Best?

The best home security company depends on what your needs are. There are many factors to consider which company should serve your home, and what kind of coverage would suit you best. A large house and a small house may need different levels of coverage, for instance. Our home security would be happy to find the company that is the best fit for you and your home.

Which Home Security Monitoring Company is the Best?

ADT is a very popular one, but this can vary based on your needs. Things like neighborhood crime rates, the number of valuables in your home, and even the size of your home can affect which company you should choose. Our home security department would be happy to help you find the best option for you.

Can I Switch Home Security Companies?

If your contract is up, yes, you can switch home security companies. Make sure to speak with your security company to ensure that your contract doesn't automatically renew, and get that in writing so you aren't forced to stay with the company until another contract expires. It's usually a pretty easy transition process so long as you have a paper trail.

What Features are Included in a Basic Home Security System?

Home security systems are available with many features, but basic features alone might meet your needs. A basic equipment set provides magnetic sensors for all vulnerable entryways and has one or more infrared sensors to detect motion inside the home. These sensors link to a control panel that has a loud siren and a connection to the monitoring company, which can dispatch emergency personnel.

Additionally, several top-ranked security companies provide keychain remote controls with their basic equipment sets. A remote control has buttons for arming the system, disarming the system and alerting emergency personnel. Mobile apps that control and monitor security systems are also available.

What Advanced Features are Available for a Home Security System?

Advanced security systems combine the basic components described above (sensors and a control panel) with extra crime-deterring equipment. Examples of simple add-ons are glass break sensors, panic buttons for the walls, and a panic pendant to wear around the neck. Panic pendants have been lifesavers during medical emergencies as well as during home invasions.

Door locks with key codes and smartphone remote control are another advanced security feature. These are especially popular with real estate agents and with residents who have frequent visitors such as health care providers, dog walkers and babysitters.

Surveillance cameras add yet another layer of home security. Control panels can include cameras for capturing still images or video, and of course cameras can be set up throughout the home and outdoors. One special type of doorbell security camera sends mobile notifications when the doorbell rings and lets you watch surveillance footage from your smartphone. You can speak with the visitor and create the effect that you're actually at home.

What Kinds of Home Security Cameras are Available?

Modern indoor/outdoor video surveillance for home security is full color, full motion and high resolution. The best security cameras have night vision and quickly adapt to changes in lighting. Some allow remote monitoring and control via a mobile device or desktop computer.

The main difference between indoor and outdoor security cameras is the construction quality; it varies because outdoor cameras need to withstand harsher conditions. Some outdoor security cameras are enhanced with heaters and fans to help protect against the elements. Outdoor cameras also need to be more durable because they're particularly vulnerable to attempted disabling by criminals. Some are housed in especially tamper-proof casings.

When choosing video surveillance you can choose between fixed and moving cameras. In some cases a fixed camera makes the most sense. When a moving camera is best, dome cameras are recommended because they make it more difficult to evade view. A dome camera can cover 360 degrees but makes it impossible for onlookers to know where the lens is pointed.

What are the Smart Home or Home Automation Features of Home Security Systems?

When setting up a home security system you can create a "smart home." This is known as home automation. Mobile apps for security systems can also control and monitor your home's lighting, thermostat and other systems. Customers choose home automation for added security, for convenience and to better control their utility expenses.

Do Wireless Home Security Systems Work During Home Power Failures?

Some wireless security systems can function during power outages. It depends on how the security system communicates with the monitoring center. If the Internet or VoIP is used, then the alarm system will lose connectivity in the event of an Internet outage. If cellular radio is used, then your alarm system will be able to maintain communication even when the power is out and you can't get Internet service.

Do I Need to Sign a Long Contract for Home Security Monitoring?

No. Not every home security company requires a long-term contract; monitoring agreements can be month-to-month. For month-to-month monitoring the user purchases the company's equipment up-front or uses compatible equipment that they already own.

Sometimes when long-term contracts are involved, companies loan the equipment to the user, replace it as needed for the duration of service, and never charge an equipment fee. In other cases the customer owns the equipment at the end of the monitoring contract.

Long-term contract lengths from top security companies range from one to five years.

What if I Want to Switch Home Security Companies? Is Home Security Equipment Transferable?

Some security companies use equipment that's transferable to other monitoring services. Others have proprietary equipment; it only works with their service. To avoid complications it's generally best to get equipment and monitoring from the same company, but it might be wise to choose equipment that's transferable in case you aren't satisfied.

What Happens if there is a False alarm with my Home Security System?

Avoiding false alarms is important because 1) alarms are noisy and 2) false alarms sometimes lead to fines.

Penalties for false alarms vary by locale. In some towns the police and other emergency personnel charge hefty fines whenever they're dispatched for a false alarm. In other towns there's never a charge or the fine might be waived for the first offense.

A couple of measures help protect against unneeded emergency response. First, by law an alarm company needs to give you 30 seconds to disable the alarm. (To bypass the 30-second rule, add a panic button!) Second, if an alarm is triggered you'll have the opportunity to tell the monitoring company that no service is needed.

Some security systems have voice connections built into their control panels, letting you immediately speak with an agent to call off an emergency dispatch. Other systems can text you immediately and, by law, may phone you after 30 seconds to assess whether help is needed.

What is the Difference Between Home Security and Home Automation?

A home security system consists of equipment that is designed to protect a home and property. Home automation allows users to often times control their home security system and other features in the home remotely. For instance, home automation can enable users to lock/unlock doors, arm/disarm a security system, turn lights on/off, adjust the thermostat, access live or recorded video from cameras, or control some small appliances.

Can a Home Security System Save Me Money?

Yes, it can. Check your homeowner's policy to see if there is a discount on insurance for those who have a monitored home security system. There are also ways to get a tax deduction if the security system is a safeguard for personal property. A home security system can also prevent property damage and burglary from taking place.

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Best Home Security Systems in 2020 | Tips for Keeping Your Home Safe

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Home security on average can cost between $250 to $1,500 depending on your needs, getting a quote would be the best way to know exactly how much you would pay. Most people, on average, will spend around $850 but that doesn't mean that you can't find something that fits your needs for less.

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Most Americans have some sort of debt or a combination of many forms of different types of debt. Paying off all of your debt can be a challenge but there are many debt consolidation companies out there that specialize in helping people reduce their overall payments with specialized programs.

Total household debt in America is over $13 Trillion already according to the New York Fed. The total debt amount continues to increase each year. Meanwhile, the Federal Reserve reports that consumer debt has also increased to over $4 Trillion.

Certain debt consolidation companies cater to specific types of debt like tax debt, credit card debt and more. Lets take a look at some of 2020's best debt consolidation programs that can save you thousands of dollars per year...

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Best Debt Consolidation Companies | Best Debt Consolidation Loans

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Most Americans have some sort of debt or a combination of many forms of different types of debt. Paying off all of your debt can be a challenge but there are many debt consolidation companies out there that specialize in helping people reduce their overall payments with specialized programs. Total household debt in America is over $13 Trillion already according to the New York Fed.

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The simple answer is Yes. There are certain scenarios where having a home security system can save you up to 20 percent on homeowner's insurance. Learn more about how to choose the right home security system for your home here.

How Much Does a Home Security System Cost?

There are several costs to consider when looking at home security systems. There are equipment costs, installation fees, monitoring fees, maintenance costs, and more. Check out this year's best home security systems.

Equipment costs usually average around $300 with basic packages but costs can also go up to $500-$600 as well

Installation Fees can range anywhere from $0 with certain promotions or as high as $200

Monitoring Costs usually average around $33 per month but can range from $10 up to $75 per month

Do I Need a Home Security System?

There are over 2 million break-ins each year according to Alarm System Report, and a home security system can greatly reduce the chances of your home becoming a part of those statistics. Check out the Best Rated Home Security Companies from this year.

Where to Find a Handyman

There are many ways to find a handyman, you can find online directories, physical phone books, and there are even referral companies that can help you find a good handyman. At Homeowner Pro, we offer Home Services and can assist you with finding a handyman in your area. Check out one of our most trusted partners in the handyman industry here.

How to Find Home Improvement Contractors

There are many ways to go about finding a contractor, phonebooks, online directories, referral companies, and also, our Home Services department can help you find a good contractor that fits your needs. HomeAdvisor is a great resource that can help you find a Contractor. Check out HomeAdvisor's full review here.

How to Find a Good Contractor for Home Improvement

Many services exist to help you find a good contractor, you can look in phone books, online, and Homeowner Pro's Home Services Department is always happy to connect you with a local contractor that fits your needs. Learn more about how certain companies like HomeAdvisor can help you find the right professional for the job.

What Can a Home Improvement Contractor Do?

Typically a home improvement contractor handles small tasks such as landscaping, flooring, siding, installing new windows, and more. Typically if you need to do something like add a new room to your house, you would need to hire a different kind of contractor as that's a much bigger task.

What is a Home Improvement Contractor?

A home improvement contractor is someone that handles smaller home improvement projects such as adding new windows and siding, as well as things like landscaping. Larger projects, like adding new news for instance, would require a different kind of contractor. Find all types of contractors through HomeAdvisor - Learn more

Which Home Improvements Add the Most Value?

Minor kitchen remodels and replacing things such as siding and windows add a good deal of value to your home. Bathroom remodels are also good ways to add value to your home, as well as really any major remodel done to your home.

How to Improve the Value of Your Home

Common ways to improve your home value is with things like new siding, windows, kitchen remodels, or bathroom remodels. People also add pools and other amenities to add to their home's value.

What Do Home Cleaning Services Offer?

Home cleaning services offer deep cleaning of the whole house. This includes bathrooms, kitchens, bedrooms, and many home cleaning services will also do laundry and dishes as well as other cleaning that you may need done around your house. Find Home Cleaning Companies with partners like HomeAdvisor

What is a Home Cleaning Service?

A home cleaning service is a company that allows you to hire people to come to clean your home for you. Typically they offer services such as deep cleaning rooms like the kitchen and any bathrooms, doing laundry, vacuuming carpets, dusting, and much more.

How to Hire a Plumber

You can look through phone books, internet directories, and there also are many companies that can help you find a plumber, and Homeowner Pro's Home Services Department would be happy to help you find the right one that fits your needs. HomeAdvisor can help you find a plumber in your area today!

How to Hire an Electrician

For the most part you either just have to call them or schedule online. Online directories, phone books, and referral companies are great tools to use to help you find an electrician to hire! Homeowner Pro can help you with finding an electrician in your area that meets your needs. HomeAdvisor can help you find an Electrician in your area today!

How to Hire HVAC Technicians

Homeowner Pros Home Services department can help you find an HVAC technician in your area. Either we can schedule for you, or you can call them yourself and schedule with them directly. Or you can also check out how certain companies like HomeAdvisor can help you find the right professional for the job.

How to Hire a Lawn Care Service Provider

Our Home Services department here at Homeowner Pro can help you find a lawn care service provider, and you can either schedule with us or call them directly to schedule. Learn more about how certain companies like HomeAdvisor can help you find the right professional for the job.

How to Hire a Contractor for a Remodel

You can contact a remodeling company by phone or schedule online to find a good contractor. There are many referral companies, phone books, and even internet directories that can help you find the type of contractor you need, and Homeowner Pro's Home Services Department would also be happy to find you a great referral. Learn more about how certain companies like HomeAdvisor can help you find the right professional for the job.

How to Hire a Contractor for a Kitchen Remodel

You can hire a contractor by contacting them directly, or our home services department would be happy to help you. There are many services available to help you find a good contractor including phone books, referral companies, and online directories. Learn more about how certain companies like HomeAdvisor can help you find the right professional for the job.

How to Hire a Contractor for Bathroom Remodel

You can hire a contractor by contacting them directly, or our home services department would be more than happy to help you. Contractors are pretty easy to find, you can google it, look through the phone book, or even contact a referral company. Check out how certain companies like HomeAdvisor can help you find the right professional for the job.

How to Hire a Contractor to Build a Deck

You can hire a contractor by contacting them directly, or our home services department would love to help you. There are more than likely a good deal of contractors in your are available that would be happy to help you, and they're usually pretty easy to find by means of phone books, referral companies, or even a simple Google search! You can also learn more about how certain companies like HomeAdvisor can help you find the right professional for the job.

What Are the Most Common Home Repairs?

A few of the most common household repairs include:

Roof Repairs - you should learn more about roofing materials before getting a quote

Water Damage Repairs

HVAC System Installation or Repair - a home warranty policy could help you in these types of situations

Termite Damage

How to Hire HVAC Contractors

To hire an HVAC contractor, you can contact the company directly and schedule with them, or you can give us a call and our home services department would be happy to find a contractor that suits your needs. Learn more about how certain companies like HomeAdvisor can help you find the right professional for the job.

How to Hire Carpenters

You can locate and contact a carpentry company, then schedule with them directly. Our home services department would also be happy to help you. There are a few good ways to find a company that does carpentry including Google, the phone book, referral companies, or even through Homeowner Pro's Home Services Department. Learn more about how certain companies like HomeAdvisor can help you find the right professional for the job.

How to Hire Carpet Cleaners

You can find a carpet cleaning company in a directory, phone books, good search, or through a referral company and contact them directly, or you can contact us and we can get you connected with a carpet cleaning company. Learn more about how certain companies like HomeAdvisor can help you find the right professional for the job.

Where to Find Roofing Crews

You can usually find roofing crews in the phone book, through a referral company, or through an internet search. Sometimes they even do advertising on billboards and commercials on the TV and radio. Learn more about roofing materials and options here.

Where to Hire Roofers

You can find roofers in the yellow pages, online, and through referral companies. Our home services department would also be happy to help you find a roofer that fits your needs. Once you find a roofing company, you either have to call them or schedule online. Learn more about how certain companies like HomeAdvisor can help you find the right professional for the job.

Why is It Important to Keep Up My Home's Maintenance?

Whether you purchased a brand new piece of construction or you moved into an older house or condo, as your home ages it will begin to show wear and tear on both the interior and the exterior. Home maintenance is the primary way that you will protect the investment you've made in your home, ensuring that its value increases over time. Any maintenance tasks that you neglect over the years will show up in the home inspection report when you decide to sell, which can cause a buyer to reduce their offer or walk away from the sale entirely. Keeping your home in great condition is highly recommended and will improve the enjoyment you get out of being a homeowner.

What Maintenance Items Should I Check Regularly, and When?

Spending a couple of minutes each month and a few times per year on a handful of quick home maintenance items can help you keep things running smoothly and identify any problem areas. Here are a few regular tasks and when to complete them:

Monthly - Each month you'll want to check your various air filters to clean or replace as necessary, clean out the garburetor in your kitchen sink and check in on your fire extinguishers.

Every 3 Months - Every three months you'll want to ensure that you run the water in any unused bathrooms or sinks to flush out the piping, test your smoke detectors and check on your windows and doors to ensure they're sealing properly.

Every 6 Months - Twice a year it's worth cleaning out the backside of the refrigerator and its coils, replacing batteries in any detectors or other critical items that use them, and checking up on your hot water heater to ensure it is operating properly.

What Maintenance Should I Do in the Spring and Summer Seasons?

As we emerge from the cold of winter and into the rainy spring there are a handful of various home maintenance tasks that should be completed:

Checking your Drains - If we end up with a rainy spring, the last thing you'll want is to have clogged drains causing huge puddles or a basement flood. As the spring approaches, spend a few minutes checking the various drains around your home to ensure that they're free and clear.

A Quick Roof and Attic Inspection - The temperature fluctuations that happen in winter can cause a bit of natural wear and tear on a roof. If you can get into your attic, spend a few minutes checking to see if there are any leaks or water spots around which could signal a bigger issue with your roof. On the outside, look for any missing or damaged shingles or tiles.

Schedule a HVAC Checkup - As the weather warms up you're less likely to be using your home heating system. If you have central heating or central air, the spring is an excellent time to schedule a checkup as you can ensure that your air conditioning is ready for our summer heat.

What Maintenance Should I Do in the Fall and Winter Seasons?

While we're less subject to massive snowfalls as homeowners in other states might be, Northern Virginia still receives its fair share of inclement weather in the fall and winter. Here are some maintenance tasks that you may need to perform:

Cleaning the Gutters - As you begin to enjoy the colors of autumn you'll also start to notice that your gutters are filling up with the leaves of any deciduous trees that are close to your home. You may also discover that throughout the year a mix of rain, pollen, dust and dirt have led to a bit of gunk clogging things up. Spending a couple of hours cleaning the cutters can help prevent damage to your roof when freezing temperatures hit.

Disconnecting Irrigation Systems - If you have hoses or a lawn irrigation system you'll need to disconnect them and flush out any remaining water to prevent freezing. Some irrigation systems require 'winterization' - a bit of maintenance that is best performed by a professional.

Storing or Shutting Down your A/C - Whether you have a small, portable air conditioning unit or a large outdoor box that provides central air, as we move through the fall you'll need to get the unit shut down and properly stored until it is required again in the spring.

How Much Should I Budget for Maintenance Annually?

How much you set aside for maintenance projects depends on factors such as the age of your home, its condition and the amount of abuse or damage that it receives throughout the year. One rule of thumb that many stand by is to set aside an average of one percent of the home's value each year for maintenance. For example, if you own a home worth $400,000 you would want to ensure that you had $4,000 set into a home maintenance fund which can be drawn on as needed. Another way to calculate your maintenance budget is to set aside $1 for every square foot of space in your home. While it's very unlikely that you will need to spend a significant amount in repairs every single year, in some years you may need a costly upgrade like a roof replacement or foundation repair.

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Home Services | Tips on How to be a Homeowner Pro

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The simple answer is Yes. There are certain scenarios where having a home security system can save you up to 20 percent on homeowner's insurance. Learn more about how to choose the right home security system for your home here.

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The price of homeowner's insurance can vary based on the size of the house and what kind of coverage you need. In the US on average it costs $1,211 a year but to get a more exact quote for your home and needs you would need to speak with an agent. Costs can be lower or higher depending on the variables that are part of the plan. Things like:

Cash value of home

Neighborhood home is located in

Security measures in place

Type of dogs in home

All come into the equation of how much a policy will cost.

How much Does Homeowner's Insurance Cost?

The price of homeowners insurance can vary based on needs, house size, and house value. The average price in the US is about $1,211 a year, but getting a quote is the only real way to know exactly how much you would pay.

What Does Homeowner's Insurance Cover?

This can vary from policy to policy, but homeowner's insurance will typically cover the cost of losses covered by fire, hurricane, hail, and lightning. What your policy would cover would be listed in your policy document and additional coverage can be added.

What is Homeowner's Insurance?

Homeowner's insurance is an insurance policy that covers your home against loss due to a disaster or covered peril. This can typically include things like:

The specifics can vary from policy to policy.

Does Homeowner's Insurance Cover Mold?

Mold coverage isn't always covered unless it's related to a specific peril that your policy covers. If you need mold coverage, make sure to speak to your agent to see how it might be added to your policy.

Which Area is Not Protected by Most Homeowner's Insurance?

There are a lot of things that aren't usually covered by homeowners insurance, like

Earthquake

War

Termites or Insect Damage

Damage Caused by Birds or Other Wildlife

Intentional Misuse or Damage

Many policies allow you to purchase extra coverage to cover most of the items listed, but no policy covers intentional misuse or damage.

Does Homeowner's Insurance Cover Roof Leaks?

Homeowner's insurance doesn't typically cover roof leaks unless it's a result of a peril. It won't cover roof leaks caused by wear and tear or lack of maintenance, but it will cover roof leaks that are a result of hail storms if your policy covers hail, for instance.

Does Homeowner's Insurance Cover Water Damage?

Homeowner's insurance does not typically cover water damage unless it is related to a covered peril. Most policies do not come standard with flood insurance, but many companies will allow you to purchase flood insurance for an extra premium.

How Much Homeowner's Insurance Do I Need?

This can be a complicated question. It's generally recommended to get between $300,00 and $500,00 but it's best to speak with an agent to find out for sure. Many factors play into this like are you in a floodplain or any other type of high risk area, as well as what your bank wants you to do if they are requiring homeowners insurance with your mortgage.

Does Homeowner's Insurance Cover Termite Damage?

Generally, homeowners insurance does not cover termite damage. It's unlikely to find a homeowners insurance company that would sell a termite policy, but many pest control companies do offer contracts for regular inspection specifically for termites.

Is Hazard Insurance the Same as Homeowner's Insurance?

Hazard insurance is a part of a homeowners insurance policy, not a separate policy type. This can cover all sorts of perils from hail to fire, and will typically cover the full cost of repairs depending on what the policy itself says.

Is Homeowner's Insurance Required?

Legally, no homeowners insurance is not required, although if you have a mortgage it's likely that your lender will require some level of coverage. It's also typically considered a good idea to have some level of coverage on your home so you aren't liable for damage caused by things like fires, hail storms, lighting, etc.

Is Homeowner's Insurance Tax-Deductible?

Typically, no, homeowners insurance is not tax-deductible. There are other deductions you can make so long as you can keep good records of everything. A few good examples of tax deductible things are

Home Office Deductions

Home Improvement Deductions

Energy Efficient Deductions

Medical Home Improvement Deductions

This is not a complete list, and not all improvements are tax deductible so make sure to do your research on specific improvements.

Does Homeowner's Insurance Cover Plumbing?

Your policy may cover plumbing if the leak was sudden and accidental, but may not cover old leaky pipes. In many cases, this may fall under flood insurance which isn't normally covered by standard policies, so make sure to check your policy and/or speak with your insurance company to confirm.

How Does Homeowner's Insurance Work?

Homeowners insurance policies usually work by covering your home against destruction from certain perils that are listed in your policy. There are certain basic perils that most policies cover such as lightning, fire, theft, windstorms, and hail but this can vary from company to company. All coverage information would be located in your policy paperwork.

Does Homeowner's Insurance Cover Roof Replacement?

Typically not unless the roof was damaged due to a covered peril. The types of perils usually covered by insurance that would be likely to affect your roof include hail storms, windstorms, and electrical storms. This can vary from policy to policy, so make sure to verify your coverage.

Does Homeowner's Insurance Cover Termites?

It's unlikely that any company that provides homeowners insurance would sign a termite policy, but most pest control companies do have contracts that provide annual inspections to make sure that you don't have termites.

Does Homeowner's Insurance Cover Theft?

As long as you have personal property coverage. The vast majority of policies will include personal property coverage, but this can vary from policy to policy. All coverage information would be listed in your policy paperwork.

How Much is Homeowner's Insurance a Month?

It's commonly thought that the average is about $35 a month for every $100,000 of coverage. So, for instance, if you have $200,000 of coverage it would be about $70 a month on average, but it can vary greatly based on a lot of factors.

How Much is a Homeowner's Insurance on a $150,000 House?

On average, about $960 a year but this can vary based on a lot of factors including things like house size, added coverage, and many others. The best way to get an exact price would be to speak with an insurance company to get a quote.

How to Get Homeowner's Insurance

All you have to do is contact a company that offers homeowners insurance and speak with an agent. Our company does provide homeowners insurance, and we would be happy to see if we are a good fit for you.

What does Homeowner's Insurance Not Cover?

Intentional damage, insect and termite damage, bird damage, rust, rot, and mold. A good rule of thumb is that if damage was not caused by a covered peril that your policy won't cover it. In some cases, for things like flood and war, it won't be covered by a basic policy but you can usually purchase additional coverage/

Does Homeowner's Insurance Cover Dog Bites?

Typically yes, it will cover legal liability expenses up to the liability limits. This can vary from policy to policy, you should be able to locate the limits in your paperwork or discuss the limits with your adjuster.

Does Homeowner's Insurance Cover Fire?

Most homeowner's insurance policies do cover fire damage. It's usually considered a basic coverage, but it is always a good idea to double check your paperwork to ensure that you are covered for any specific peril

What Does Homeowner's Insurance Cover?

Homeowners insurance will typically cover damage caused by specific perils, such as fire, electrical storm, hail, lightning, or whatever is covered in your policy. This can vary from policy to policy, but all coverage information will be available in your policy paperwork.

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Insurance | Home Insurance Policy In California

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The price of homeowner's insurance can vary based on the size of the house and what kind of coverage you need. In the US on average it costs $1,211 a year but to get a more exact quote for your home and needs you would need to speak with an agent.

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A homeowner's warranty is a service contract to cover repair and replacement of covered units that have been well maintained. This can include things like cooling systems, washers and dryers, electrical systems, and more depending on your policy. Check out this year's best home warranty companies.

What is a Homeowner's Warranty Policy Good For?

Homeowners warranties are good for replacing and repairing well-maintained home appliances and systems. Commonly covered units are washers and dryers, HVAC systems, and hot water heaters. You can typically get other items covered, as well, it just depends on the company that you're working with. See what is included by a home warranty here.

Does a Homeowner's Warranty Cover an AC Unit?

Typically, yes as long as it's well maintained. When signing up for a homeowners warranty you would be able to get all of the specific details of what is and isn't covered, and you'll also receive this in writing with the paperwork you sign when you first order the warranty. See what is included by a home warranty here.

What is the Difference Between Homeowner's Insurance and Home Warranty?

Homeowner's insurance is a policy that covers your home against loss in the case of disaster, while a home warranty is a service contract that covers some of your home systems and appliances repair and replacement costs.

Is Homeowner's Insurance the Same as Home Warranty?

Homeowner's insurance and home warranties are not the same. Homeowner's insurance protects your property from specific perils, while a home warranty is a service contract to repair or replace units when they break down.

Do Home Warranties Transfer to new Homeowners?

Yes, home warranties can be transferred to new homeowners so long as the proper paperwork is filled out. The new homeowner would be responsible for the warranty payments and deciding if they want to make them monthly or yearly. Check out this year's best home warranty companies.
How Much Does a Home Warranty Cost?
The cost of your home warranty can depend on the side of your home. Basic warranties can cost, on average, between $350-$600 a year, with extended coverage it can cost an extra $100 to $500 a year. Most basic warranties will cover things like plumbing, HVAC systems, and major appliances like refrigerators. Learn more about how a home warranty can actually save you money in the long term.
Is Homeowner's Insurance the Same as Home Warranty?
No, homeowners insurance is a policy that covers your home against perils while a home warranty is a service contact that will cover the repair or replacement costs if a covered unit breaks down.

Is a Home Warranty Worth It?

In many cases, yes. Especially if you're good at maintaining everything in your home. Home warranties will cover the cost to replace or repair broken units. Some warranties cover the whole cost, and some warranties only cover part of the cost and everything else comes out of pocket. Home Warranties can actually save you money in the long run.

What Does a Home Warranty Cover?

Homeowners Warranties cover things like washers and dryers, cooling systems, electrical systems, and other major home systems and appliances as long as they are well maintained. You can usually get more advanced warranties that cover other things in your house, but you would have to speak with the home warranty company to see what they offer. See what is included by a home warranty here.

What is a Home Warranty?

A homeowners policy is a service contract to replace and repair covered units when they break down due to normal wear and tear. Typically they'll cover things like plumbing, electrical systems, HVAC systems, and major home appliances like refrigerators and washers and dryers. Check out this year's best home warranty companies.

What is the Difference Between a Home Warranty and Homeowner's Insurance?

A home warranty is a service contract to help cover the cost for covered units when they need repair or replacement, homeowner's insurance is an insurance policy that covers your home against specific perils as listed in your contract.

Are Homeowner's Warranties Worth the Money?

Generally, if you're good at home maintenance, yes. A warranty will cover the cost, either in part or in full, to repair or replace units when they stop working. If they only cover part of the cost, the rest comes out of your pocket but it's still cheaper than it would be without the warranty. Read more about how a home warranty can save you money

Do Home Warranties Cover Roofs?

Typically a homeowner's warranty will not cover a roof replacement, but may cover leaks and repairs. This can depend heavily on the company, and it is possible that there is a home warranty company that would be able to cover that. See what is included by a home warranty here.

Does a Home Warranty or Homeowner's Insurance Cover Water Line Breaks?

Typically, homeowners insurance would cover the damage from the break but not the system that broke, while a home warranty will cover the system but not the damage. See what is included by a home warranty here.

Does a Home Warranty Cover Mold?

Unfortunately not. Home warranties typically cover mechanical issues in things like plumbing, electrical systems, HVAC systems, and major appliances like washing and drying machines and refrigerators.

Does a Homeowner's Warranty Cover Plumbing?

Home warranties will cover issues with your plumbing system, but not any damage because of plumbing issues to things like floors and drywall. Those kinds of things may be covered by a homeowners insurance policy, depending on what your policy covers. See what is included by a home warranty here.

Do Homeowner's Warranties Cover Electrical Problems?

Typically major components in the system, yes, but more than likely not things such as faceplates, computers, etc. Home warranties help cover the cost of mechanical failures of covered units, so if you need something mechanical in your electrical system repairs or replacement they would be able to help with that. See what is included by a home warranty here.

How Does a Home Warranty Work?

A homeowner warrant is a service contract that will cover the cost, or part of the cost, if repair or replacement of a covered unit, as long as it's well maintained. Typically they only cover the mechanical components of major systems like plumbing, electrical, and HVAC as well as some major appliances like refrigerators, for example. Check out this year's best home warranty companies.

How Long Does a Home Warranty Last?

Between 1 and 10 years, this depends on the agreement you make with the home warranty company as well as what the home warranty company offers. On average people will have a home warranty for 6-8 years.

How Much Do Homeowner Structural Warranties Cost? (The user may need homeowners insurance, not a warranty)

Structural warranties are usually only given by the home builder and will come with the new house. If you're looking into this, you may need to look into a homeowner's insurance policy to cover your needs.

How to Get Homeowner's Warranty After a Lapse

Typically all you have to do is contact your home warranty company and do whatever they ask of you, this can include certifying that nothing was broken during the lapse period. Many companies offer reinstatement grace periods, but not all so make sure to ask your company about that.

How to Make a Claim on a Home Warranty

First, verify your coverage, then contact your company to request a service visit so you can file a claim. After that, you just need to pay the service fee and any uncovered expenses, if those exist.

Is Homeowner's Insurance Different From a Home Warranty?

Yes. Homeowners insurance is a policy that covers damage to your home from specific perils, while home warranties are service contracts that cover repair or replacement costs if appliances or home systems break down.

What Are the Major Appliances Covered in a Home Warranty?

Most basic plans cover major appliances and systems like heating, air conditioning, plumbing systems, electrical appliances, kitchen and laundry appliances or any other key units.

Some standard coverage may also include appliances like: Plumbing stoppages, toilets, sump pump, bathroom whirlpool motor pump, recirculating hot water pump, water heater, heating and duct work, telephone system, central vacuum system, garage door opener, ceiling fans, attic and exhaust fans, smoke detectors, doorbells, dishwasher, range, oven, cooktops, built-in microwave, instant hot water dispenser and trash compactor.

What Is Optional Coverage in a Home Warranty?

Additional or optional coverage is the extra coverage you buy from a list of add-on items such as kitchen appliances like refrigerator, oven, washer/dryer, air conditioning, pool and spa equipment. Roof leak repairs are also available for home warranty purchase at an additional fee at the time of signing a contract.

How Much Does a Home Warranty Cost?

Typical home warranty expenses are as follows:

An annual premium, which would be around $300 to $500 for basic appliance coverage and a service call fee per incident, which comes to around $40 to $70. This fee varies from company to company.

When Does Home Warranty Coverage Begin?

For sellers: Usually the coverage varies from company to company. Coverage begins when the enrollment form is received and continues through the listing agreement period.

For buyers: Coverage begins at closing (when title is transferred and payment is received).

For Existing Homeowners: Generally, coverage is effective 30 days after receipt of funds. Check with the contract guidelines to confirm on the duration.

What Are Home Warranty Deductibles or Service Call Fees?

A standard service fee/deductible is a nominal fee charged each time you raise an issue. Some repairs may require more than one service partner or several unrelated visits to the house by the same service partner, and a service call fee is charged for each visit. If a contractor has to order parts and come back to your house at a later time to complete the repairs, this visit would not require an additional deductible. Fee varies from company to company, but it is generally between $40 to $100 per incident. Some companies have zero deductible home warranties.

What Can Cause a Home Warranty Denial of Claims?

Denial of claims may be caused due to code violations, unusual wear and tear, improper installation, pre-existing conditions and, in some cases, issues due to improper maintenance. Some companies however, do cover damages resulting from lack of maintenance. For further details, refer to your warranty contract.

What Is a Home Inspection?

A home inspection is a procedure in which a home inspector investigates the comprehensive information about property conditions. They analyze the description of problem in a written report and recommend further evaluation if required. Normally every inspection report is guaranteed for 30 days.

What Is Home Buyer's Protection?

A home buyer's protection plan is a service contract that covers repairs and replacements of insured appliances and systems like electrical, plumbing and heating systems and built-in appliances that are not covered by regular homeowner's insurance.

Home warranty coverage varies from company to company. It is very essential that you read the terms and conditions of the policy before choosing one that is suitable for your requirements. Most of the standard policies cover plumbing and heating appliances, but if the cooling units are not covered under the basic plan you can still include it by paying an additional fee, into your policy.

When Can You Purchase a Home Warranty?

You can purchase a home warranty at any time for any house. While many home warranties are purchased by a buyer or a seller of a home during a real estate transaction, a home warranty can be purchased by any homeowner looking to protect their budget.

When Can I Start Using My Home Warranty?

There is a 30 day waiting period before you can request service. If you purchased a home warranty in a recent real estate transaction, or are renewing your home warranty, you may immediately use your home warranty.

How Do I Choose the Right Home Warranty?

When choosing the right home warranty for you, it is important to research and compare the options available for your needs and your budget. Monthly and annual costs can vary widely between home warranty providers, but out of pocket costs are just one of the considerations when selecting a home warranty.

Who Pays for a Home Warranty?

A buyer or a seller can pay for a home warranty and can sometimes depend on what is typical for your specific area. The seller is often motivated to include a home warranty by the desire to sell a home, however, if this is not the case, a buyer may want to purchase a home warranty especially considering the age of the home. A home warranty may be purchased at any time and does not necessarily have to be done during a closing.

Why Would a Seller Offer a Home Warranty?

A seller would offer a home warranty to make their home more desirable to prospective buyers. A home with a warranty is more likely to sell quickly as the home warranty protection gives the buyer more confidence and peace of mind with their purchase.

Is it Worth Having a Home Warranty?

A home warranty is a good idea for homeowners who cannot comfortably afford to cover the costs of major repairs or appliance replacements out of pocket. These costs could amount to thousands and are often sudden and unpredictable. If you own an older home with older appliances and systems, then a home warranty is a great investment.

The bottom line is that having a home warranty can save you money in the event of an emergency repair to your home systems or appliances. If you are a homeowner who doesn't want to take out a home warranty, you should be sure to have money socked away for any emergency repair costs.

How Long Does a Home Warranty Last?

Home warranty insurance lasts for a year and is renewed on an annual basis. There are cases when a home warranty can last for longer than a year without needing to be renewed.

If you have recently purchased a home, you may need to ask the seller if the home is currently covered, they may continue to pay for it to help cover repairs. Contact the home warranty company to ask what plans they have and choose one that works for you and your budget.

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Home Warranty | Best Home Warranty Companies

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A homeowner's warranty is a service contract to cover repair and replacement of covered units that have been well maintained. This can include things like cooling systems, washers and dryers, electrical systems, and more depending on your policy. Check out this year's best home warranty companies.

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Debt consolidation is taking debt from multiple sources and combining them into one source using one of a few methods. It is one of many debt relief options, and this one is often preferred by those that have too many creditors because that can make making monthly payments difficult. Read more about Debt Consolidation

What is the Best Debt Consolidation Company?

The best debt consolidation company for you varies a lot depending on your credit score as well as how much debt you have. Homeowner Pro has a very good debt consolidation department that would be happy to help you find the best way to consolidate your debt. Check out our Best Picks for Debt Consolidation Companies Now!

Which is Better: Bankruptcy or Debt Consolidation?

This can vary depending on your situation, typically a debt consolidation is better but if you're going through undue hardship and you couldn't afford even those monthly payments it may be good to look into bankruptcy.

Which is Better: Chapter 13 or Debt Consolidation?

Different situations call for different approaches. If you can't make any payments on your debt due to unforeseen hardship such as hospitalization, chapter 13 may be your best option, but if you are in a position that making a monthly payment is viable, debt consolidation is the better approach.

What is the Best Way to Consolidate Credit Card Debt?

The best way to consolidate your credit card debt can vary on what resources you have, as well as your credit score. Typically people use personal loans or balance transfer cards, but it is not unheard of for people to use things like home equity lines of credit or even 401k loans. Compare the best debt consolidation companies today and settle your credit card debt.

Which is Better: Debt Consolidation or Debt Settlement?

This can vary depending on your situation. If you're looking to reduce creditors a debt consolidation may be best, but if you're looking to see if you can decrease debt a debt settlement may be best.

What is the Best Debt Consolidation?

The best debt consolidation method can vary depending on what you have available. Credit score, amount of debt, and assets are all factors that play into what methods you'll be able to use. The two most common types are transfer cards and personal loans, although some people do use a home equity line of credit or 401k loan if those are available options. Learn more about the best debt consolidation companies here

What is the Best Way to Consolidate Your Debt?

There are a few methods depending on what you have available, including credit score, amount of debt, and assets. The most common two are transfer cards and personal loans, but it isn't too uncommon for people to use 401k loans or home equity lines of credit to consolidate their debt. It is also wise to compare multiple debt consolidation companies before making a decision.

What is the Best Credit Card Debt Consolidation Program?

This depends on what your credit, amount of debt, and assets are. The most common two are personal loans and transfer cards. People that have healthy 401ks or equity on their homes have been known to either get a 401k loan or a home equity line of credit to consolidate their debt. National Debt Relief and Accredited Debt Relief are both great options for settling Credit Card Debt

What is the Difference Between Consumer Proposal and Debt Consolidation?

A consumer proposal is a proposal drafted by a Licensed Insolvency Trustee that offers a percentage of the debt to your creditors, while a debt consolidation takes multiple debts and puts them all under the same creditor.

What Does Consolidating Debt Mean?

Consolidating debt is taking debt from multiple sources and putting it all under a single creditor. This is particularly useful if you have a lot of different creditors, especially if you have trouble keeping in mind every company you need to make payments to at the beginning of the month. Learn more about what debt consolidation is here.

What is the Best Bank for Debt Consolidation?

This can depend heavily on your credit score, amount of debt, and assets. Many different banks and financial institutions do offer debt consolidation with various interest rates for various credit scores. Homeowner Pro offers these services and one of our specialists would be happy to help you find a plan that works for you. It is smart to compare multiple banks and debt consolidation companies before making a decision.

What is a Debt Consolidation Plan?

A debt consolidation plan is a plan to take your debt from multiple sources, and put them all under one creditor. A lot of people find this very helpful, especially if they have a lot of credit sources and often forget to pay everyone at the beginning of the month. Debt consolidation can help you avoid late fees. Find out if you have too much debt here.

What is the Risk of Debt Consolidation?

If you don't fix the behaviors that got you in trouble, you can make your debt situation worse. You could also end up in a higher interest agreement than you originally had with your creditors. It can be especially risky if you're late on payments a lot, because late fees for debt consolidation plans can be significant.

What is the Meaning of Debt Consolidation?

Debt Consolidations are when you take debt from multiple sources and put them all under one creditor. This is useful for people that need to build up their credit after having too many credit cards, as well as for people that just have too many creditors they have to pay every month.

What is the Best Company for Debt Consolidation?

The best company to go through for your Debt Consolidation depends heavily on your credit, assets, and amount of debt. Many companies offer different programs with various interest rates for almost any credit score.. Homeowner Pro has agents that would love to speak with you to find the best path for you. Check out the best debt consolidation companies this year!

What Credit Score is Needed for a Debt Consolidation?

It depends on the method you're using, typically the lowest is 580 for a personal loan but many companies can help you find options even if your credit is lower than this. Balance transfer cards require a higher minimum credit score, on average requiring a minimum of 620.

What is a Debt Consolidation Program?

A debt consolidation program is a program that allows you to take debt from multiple sources and condense them down into a single creditor that you would then need to pay off. There are different methods available depending on your assets, amount of debt, and even credit score.

What is Debt Consolidation and How Does it Work?

Debt consolidation is taking multiple debt sources and condensing them down into a single creditor. This process works by usually taking out a loan or getting a transfer card and paying off all of the individual debts so you can have them all in one place. Find out if you have too much debt today.

What is the Definition of Debt Consolidation?

Debt consolidation is a form of refinancing that involves taking a single loan out to pay off multiple other loans. There are multiple methods available depending on your amount of debt, assets, and credit score. Regardless of any of these factors, it is likely you can find a program that works for you. Read more about Debt Consolidation.

What is the Best Company to Consolidate Credit Card Debt?

Each company offers different rates for different products, and also depending on your credit score, amount of debt, and assets. We offer debt consolidation services here, and we'd be happy to see if we have a program that's a good fit for you. One company our team suggests for credit card debt is Accredited Debt Relief. See the review for Accredited here.

What is the Best Consolidation Program?

This can depend on your credit score, assets, and debt amount, but the most common programs involve taking out a personal loan or getting a transfer card. People with equity on their homes and good credit can get a home equity line of credit, and people with healthy 401ks can get 401k loans. See this year's best debt consolidation companies now.

What is the Best Option for Debt Consolidation?

Depending on your credit, either a personal loan or a transfer card. If you have a home with equity you can get a home equity line of credit and use that for consolidation, and if you have enough in your 401k you can also use that as a loan source.

What is the Best Way to Consolidate my Debt?

The most common methods include personal loans, transfer cards, home equity lines of credit, and 401k loans. The best method for you depends on your credit score and assets. Take a look at some popular debt consolidation companies

What is the Best Way to Consolidate Student Loan Debt?

You can do this for free with the Department of Education, or you can go through a private company.

What is the Difference Between Consumer Proposal and Debt Consolidation?

A consumer proposal is an agreement sent by an LIT to your creditors with a lower amount than the debt owed, while a debt consolidation takes debt from multiple sources and gives them to a single creditor, usually by means of a personal loan.

What is the Difference Between Debt Consolidation and Debt Relief?

Debt consolidation takes debt from multiple sources and gives it all to a single creditor, usually by some form of personal loan. Debt relief is the partial or total forgiveness of a loan.

What is the Difference Between Debt Consolidation and Debt Settlement?

Debt consolidation takes debt from multiple sources and transfers it to a single creditor, usually by using a personal loan. A debt settlement is a negotiation with creditors to try and reduce or completely forgive the debt.

What is the Smartest Way to Consolidate Debt?

This depends on your credit score and assets. You can get a personal loan, transfer card, home equity line of credit, or 401k loan. A smart tactic is to always compare multiple debt companies before making any decisions.

How Do You Know if You Need Debt Consolidation?

Debt consolidation is a great way for a lot of people to get out of debt. But it's not for everyone. How do you know if debt consolidation is right for you?

Debt consolidation makes sense if you owe a lot of debt to several different creditors. It should be enough debt that you struggle with keeping up with it but not so much that you'd never be able to get a personal loan in order to pay it off. Large forms of debt like student loans can sometimes be consolidated, but they usually need to be dealt with separately from other forms of debt.

Often, the kind of debt that's well-suited for debt consolidation is credit card debt. It's all too possible to open up multiple different credit cards and run them up without realizing what you're doing. Your main credit card, your emergency credit card, the cards you have with different stores that you opened up for discounts - each one can get out of control if you're not careful, and dealing with all of these different payments can be a nightmare. In this case, then debt consolidation might be right for you.

What is the Difference Between an Unsecured Loan and a Secured Loan?

Debt consolidation loans can come in two different varieties: unsecured loans and secured loans.

With unsecured loans, the lender is lending to you based on your creditworthiness. They take a look at your credit score and financial history and determine that you're a good investment for them to take on, so they offer you a decent loan package with a high degree of certainty that you'll be able to pay it back.

With secured loans, the lender isn't quite so certain. Perhaps your credit history isn't perfect or they see something in your financial picture that gives them reason to doubt that you'll be able to pay off your loan in a timely manner. So they ask you to "secure" the loan by putting up a piece of collateral, like your car or your home. If you can't keep up with your payments, they'll take the collateral instead. It's security that they'll at least get something out of the deal.

While secured loans can often have lower interest rates than unsecured loans, they're riskier due to the collateral requirements. If you can't keep up with your payments for whatever reason, you could end up much worse off than you were before.

Can Debt Consolidation Save Me Money?

Yes, debt consolidation often saves people quite a bit of money. While it's not guaranteed that you'll save money, it does happen pretty often.

On one hand, you could save money on your monthly payments. Consolidating all of your debt into one payment will make for a fairly hefty sum, but it still might be less than the sum total of your monthly minimum payments. Plus, you'll be making much quicker progress towards actually paying off your debt.

On the other hand, debt consolidation packages often have more forgiving interest rates than some credit cards. This lower interest rate means you'll accrue less total interest every month on the debt that you owe, meaning you'll pay less in interest over time while you're paying down your debt.

All of this means that you'll actually hang on to more of your income than you were before you consolidated your debt.

What is the Difference Between a Debt Consolidation Loan and Debt Management?

With debt management, you aren't actually borrowing money to manage your debt. Instead, you're working with a third-party to develop a plan for managing your debt and becoming debt-free in a realistic timespan.

Often, debt management can take the form of credit counseling. A credit counselor, often working for a non-profit, takes on your case and counsels you on how to get your finances in order and pay off your debts. They may actually work with your creditors to restructure your debt, or they might just help you to get a better handle on things.

Debt management works best for people who are financially capable of tackling their debts, but just don't know how. It's not the same kind of big step that taking out a debt consolidation loan is, but it can still be effective in the right circumstance.

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Debt | Reputable Debt Consolidation Companies

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Debt consolidation is taking debt from multiple sources and combining them into one source using one of a few methods. It is one of many debt relief options, and this one is often preferred by those that have too many creditors because that can make making monthly payments difficult.

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Can you Refinance a Home Equity Loan Into a Mortgage?

Yes, you can refinance a home equity loan into a mortgage, but this can bring up a lot of issues, including significantly higher payments than the homeowner originally had. It's possible to refinance both at the same time and make the home equity loan junior to the mortgage, which many find helpful.

Why Refinance a Home Mortgage?

Different people have different reasons for wanting to refinance their homes. Most popularly, people are looking to pay less in interest.

This can manifest in a couple of different forms, either by refinancing your long-term loan to have a lower interest rate or getting a shorter loan. Having a shorter-term loan means you pay less interest overall, but it increases your monthly payments while having a longer-term loan has lower payments but more interest for the entire loan. Learn more about how to start you home refinance today. Check out this year's top refinance lenders.

How to Refinance a Manufactured Home Mortgage

Not every manufactured home is able to be refinanced, so the first step would be to do some research to ensure that your manufactured home is eligible for refinancing.

After that, you must contact a financial institution that works with manufactured home refinancing and find out their rates. Once you find a mortgage that works for you, all you have to do is sign the required paperwork.

How to Refinance Mortgage and Home Equity Loan

The first step of any refinance is to ensure that you're eligible. After that, you'll need to find a financial institution that offers a refinance that fits your needs. It's typically a lot easier to get a refinance for both a mortgage and home equity loan if both were taken out with the same financial institution. Find the best refinance landers now!

How to Refinance Your Home Mortgage Loan

First off, you'll want to determine what kind of refinance you want and what will work for your needs. If you need to lower your monthly payments, a longer-term loan with low-interest rates would be good. If you want to pay the loan off more quickly with less interest and don't mind higher monthly payments, a short-term loan would work better. See more detailed steps to refinancing here

1. Consider your options

2. Choose a lender

3. Start the process

Shop around to find the best rates for the type of refinance you want then sign any required paperwork.

How Much Does it Cost to Refinance Your Home Mortgage?

On average, a mortgage refinance will cost somewhere in the neighborhood of $5,000. This number can vary greatly depending on certain factors such as:

See our Best Picks for the top mortgage lenders today!

What is Needed to Refinance a Home Mortgage?

Typically, you'll need your ID or driver's license, proof of income, current home loan statement, records of living expenses and other liabilities, and records of other assets.

You'll also need adequate credit, and depending on the type of loan you have this can vary from 600-640 on average. Most companies will require that you have built up a good amount of equity before allowing you to refinance, as well. Learn more about different types of mortgage loans here.

Can You Refinance a Home With a Second Mortgage?

Yes, it is possible to refinance with a second mortgage. The easiest way to go about this would be with a resubordination, but this can be a little tricky at times. You can also pay off the second mortgage either with a cash-out refinance or out of pocket if you happen to have the resources to do so.

How to Refinance Your Home Mortgage With Bad Credit

Refinancing your mortgage with bad credit can be difficult. Most financial institutions require a credit score no lower than 620. If your score is lower than 620, finding a financial institution willing to work with you is unlikely. You have a few options that may be worth looking into, such as:

Take a look at some of our top ranked mortgage lenders who might be able to help you, even with poor-bad credit.

Should You Refinance Your Home Mortgage?

The decision to refinance your home mortgage is a big one. Typically, if you're looking for lower monthly payments or paying off your loan quicker it is a good idea, assuming you can find a loan that works for you. It's considered a bad time to refinance your mortgage if you plan on moving in the near future. Ask yourself these questions:

If you have good credit, a steady income, and can lower your overall debt it might be a good idea to refinance. See this year's best mortgage lenders now.

What is a Cash Out Refinance?

A cash out refinance is a loan taken out on a home that is already owned where the loan amount is higher than the cost of the transaction and any associated fees. People commonly get cash out refinances to cover things like home improvement expenses. See more types of mortgage loans here.

How Does a Cash Out Refinance Work?

Cash out refinances work by taking back some of the money that you've paid into your mortgage already. Doing a cash out refinance increases the principal of your mortgage, and could be thought as a cross between a refinance and a home equity line of mortgage.

How Much Can I Get With a Cash Out Refinance?

When getting a cash out refinance, most lenders will allow you to get up to 80% of the home's value, but this can vary based on several factors.

Equity, the homeowner's credit score, and the type of loan all can affect how much you can get using a cash out refinance.

Is a Cash Out Refinance Taxable?

Cash out refinances are not considered income, so they are not taxable. A cash out refinance is a type of loan so it will put you in debt, and you have to pay it back over time. So there are no taxes paid on a cash out refinance, and you do not have to include your refinance on tax forms.

How Long Does a Cash Out Refinance Take?

How long a cash out refinance takes from signing the paperwork to you having money in your pocket can vary depending on the lender. The average timeframe is somewhere between 45 and 60 days from the day you apply.

Is a Cash Out Refinance a Good Idea?

Whether or not you should get a cash out refinance depends on your situation. Any kind of refinancing of your home uses your home as collateral, so if you don't think you'll be able to make the payments on time it should be avoided. However, if you're in a good position to take on the payments it can be a good idea. Some of the advantages of a cash out refinance can be:

See more cash out refinance options with loanDepot. They are known for these types of loans.

Can You Get a Cash Out Refinance With Bad Credit?

Typically it's difficult to get a cash out refinance with bad credit. Most financial institutions require a credit score of 620 or higher. This can vary on the type of loan and lender, but the most common types of cash out refinances won't accept any lower than 620.

Do I Qualify for a Cash Out Refinance?

The qualifications for any refinance can vary from lender to lender. In most cases, you'll need a credit score of 620 or higher and some equity on your home. In most cases, the lender will allow you to take out up to 80% of your loans, but this depends highly on the loan type and your credit. Learn more about cash out refinance options with loanDepot

How Soon Can I Get a Cash Out Refinance?

The amount of time it takes for your cash out refinance to close can vary from lender to lender. Most lenders, on average, take between 45 and 60 days from the day you apply for the refinance to close.

What is a Limited Cash Out Refinance?

A limited cash out refinance is a refinance where the new loan amount is larger than the old one. This is because the fees for the refinance are added to the loan amount instead of coming out of pocket. The money can be used for:

This loan type has no upfront closing costs because you're adding them to the loan amount, and the amount of cash that you can get from this is either 2% of the difference between the old loan and the new loan or $2,000 whichever is less.

Can You Get a Reverse Mortgage on a Mobile Home?

You cannot get a reverse mortgage on a mobile home, as mobile homes are defined as manufactured homes built before June 15th, 1976. On the other hand, some manufactured homes are eligible for reverse mortgages so long as they meet the requirements. The most common type of reverse mortgage of a manufactured home is an FHA home equity conversion mortgage.

Can You Lose Your Home in a Reverse Mortgage?

In short, yes, you can lose your home while in a reverse mortgage. Fortunately, there are only specific criteria that would allow this to happen. For instance:

You stop paying your property taxes or homeowners insurance.

You're away from the home for 6 out of 12 months for reasons other than medical reasons.

You pass away and your spouse is not listed on the loan as a co-borrower or non-borrowing spouse

You're away from the residence for 12 or more consecutive months

You stop maintaining your home up to FHA standards.

We suggest that you speak with an expert on reverse mortgages like AAG in order to learn more.

Can You Use a Reverse Mortgage to Purchase a Home?

Yes, you can use a reverse mortgage to purchase a new home. There is a Home Equity Conversion Mortgage, or HECM for short, for purchase that allows people 62 and over to purchase a new residence with the proceeds of the loan.

What is a Reverse Mortgage on a Home?

A reverse mortgage is a loan most often taken on residential buildings that allows the borrower to access the unencumbered value of the property. In the vast majority of cases, reverse mortgages are promoted for older people and do not require monthly payments.

Can You Get a Reverse Mortgage on a Mobile Home?

You cannot get a reverse mortgage on a mobile home. Mobile homes are defined as manufactured homes made before June of 1976, and the reason why you cannot get a reverse mortgage on manufactured homes made before then is because of the Manufactured Home Construction and Safety Standards act, which came into practice that month. If your manufactured home was created after this date, then it is possible to get a reverse mortgage, so long as you qualify.

Can You Get a Reverse Mortgage on a Second Home?

You are able to get a reverse mortgage on a second home, or even use a reverse mortgage from your first home to get another residence. The only drawback is that you cannot be away from a home with a second mortgage for more than 6 months a year except for medical reasons or the bank could take your home.

How to Calculate Home Mortgage

Calculating your home mortgage is relatively easy. If you need to find your monthly payments, the equation is rather simple.

1. Take your yearly interest rate and divide it by 12.

2. Divide the total loan by the number of years you have left then by 12.

3. Multiply the monthly interest rate by the monthly payment.

4. Add the monthly interest to the monthly payment.

What Are Home Mortgage Rates Today?

Home mortgage rates can change day by day, lender to lender, state to state, city to city, or even by loan type. Doing your research on what financial institutions that work in your area are offering is the best way to find out what the best rates are at the moment.

How Much is a Down Payment on a House?

A down payment requirement on a house can vary based on certain criteria like your credit score and financial stability but the historic "norm" for a down payment was 20% of the total home cost. These days though, special programs are available where buyers can pay as little as 3% down for a new home. Learn more about how much a down payment costs here.

What is the Current Home Mortgage Rate?

Home mortgage rates can vary based on a lot of factors. Some of these factors include:

Rates can change day to day, and the best way to make sure that you're getting the best deal is to do research on what each financial institution is offering at the moment. Check out the best mortgage lenders of the year!

How Long is a Home Mortgage Borrowed For?

The length of a home mortgage can vary. Most often people will sign up for a 30 year mortgage, but it's not unheard of for people to sign up for 15 or 20 year mortgages. It all depends on if you'd rather have lower monthly payments or higher monthly payments that pay off the loan faster.

What is the Current Home Mortgage Interest Rate?

Home mortgage interest rates change constantly, and are impacted by lots of different factors. Doing lots of research on the financial institutions that work in your area is a good way to ensure that you're getting the best interest rates that are available at the moment. Check Bankrate for daily mortgage rates.

What Are Home Mortgage Rates?

Home mortgage rates are the interest rates that you can expect to pay on your mortgage. In most cases, they will be given to you in a yearly percentage that is automatically added to your monthly payment. Bankrate can help you monitor mortgage rates.

Is a Home Equity Loan a Mortgage?

A home equity loan is, in fact, a type of mortgage. This type of loan borrows from the amount of equity you have on your home and is paid back in installments. They are often considered second mortgages because they are borrowed against your home.

Can You Deduct Mortgage Interest on a Second Home?

Mortgage interest is deductible for a second home so long as the home is not rented out during the tax year. Other than that, the mortgage must meet the same deductible requirements as the primary residence.

Is a Home Equity Loan a Second Mortgage?

In many cases, yes a home equity loan is considered a second mortgage or a junior-lien. A home equity loan borrows against your home's equity, and uses your home as collateral for the loan.

How to Apply for a Mortgage as a First Time Home Buyer

Buying a home for the first time is an exciting thing, and it can seem like a complicated process. Luckily, first time home buyers can get an FHA loan which makes your first loan a lot simpler. It is a federally backed loan specifically made for first time home buyers. In order to qualify for this type of loan the buyer has to:

Have proper identification

Have a decent credit score

Be gainfully employed

Have enough cash for a small down payment

See some of the nation's top ranked mortgage lenders here.
Is Mortgage Interest on a Second Home Deductible?

As long as the home is not rented out during the tax year it is deductible for the most part. The second home must meet all of the same requirements for the first home's mortgage interest to be tax deductible.

How to Sell a Mobile Home With a Mortgage

Selling a mobile home with a mortgage is very similar to selling a traditional home with a mortgage, just put it on the market or hire a real estate agent.

Just like with a traditional home, you have to make sure that all mortgages, loans, or liens associated with your mobile home are paid off before the title is transferred to the next owner.

What is a Home Equity Conversion Mortgage?

A Home Equity Conversion Mortgage, or HECM for short, is the only reverse mortgage ensured by the Federal Housing Administration. This program allows you to withdraw a portion of your home's equity and usually requires the homeowner to be at least 62 years of age.

What is a Home Mortgage?

A home mortgage is a type of loan that is taken out with a bank, mortgage company, or other financial institution to help you purchase a home. The lender holds the title of the property until the loan is paid off, and mortgages usually range anywhere from 15 to 30 year terms. Some different types of mortgages are:

Conventional mortgages

Government-insured mortgages

Fixed rate mortgages

Adjustable rate mortgages

FHA mortgages

Depending on your credit score, available cash, and personal needs any of these could be an option. Learn more about different types of mortgage loans here.

Is Home Insurance Included in a Mortgage?

Yes and no, your bank or financial institution will usually require you to have an escrow account with your mortgage, and is a separate account. You pay escrow along with your mortgage, but the escrow is where homeowners insurance payments would be taken from. Some lenders also use an escrow account to cover property taxes, but not all lenders have this practice.

What Are Home Mortgage Rates Right Now?

Home mortgage interest rates can change day by day, and from lender to lender. The best way to find out the current mortgage rates would be to shop around and contact all of the lenders in your area so you can ensure that you're getting the best deal available.

How Much Home Mortgage Can I Afford?

Most financial experts would agree that your mortgage should be no more than 28% of your pre-tax monthly income. To find out what that would mean for your budget, all you have to do is grab a calculator, multiply your pre-tax monthly income by 28 then divide it by 100. After you run the numbers, you should have a good idea how much you have to work with. Learn more by comparing quotes from a few of the best mortgage lenders in the country.

What is the Home Mortgage Interest Rate Today?

Mortgage interest rates are changing all the time. The best way to find out if it's a good time to buy is to check with your local lenders to confirm their rates, and do some research to find out if the rates have been trending up or down.

What is the Home Mortgage Interest Rate?

A home mortgage interest rate is the amount of interest you can expect to pay on your mortgage per year. Different lenders offer different interest rates, and these rates and rise or fall depending on real world factors.

Is There Anything I Shouldn't Do Before I Get Pre-qualified for a Home Mortgage?

Don't start shopping for a new home until you've been pre-qualified.

Don't pack or ship any important documents, such as tax returns, bank statements, pay stubs, and W-2s.

Buying a house doesn't have to be hard. Keeping all copies of your paystubs, bank statements, tax returns, and W-2s can make a speedy pre-qualification even speedier. To further grease the wheels and keep your home loan process running smoothly, take care to make all your bill payments on time. We also suggest keeping a paper trail of any large deposits you make, as well as notifying your loan officer directly if you plan to use a down payment gift from your family.

Pre-qualifying for your home loan before you begin shopping for a house can save you hours of unneeded stress and heartache. When you know how much house you can afford in advance, you can meet with your realtor, well-informed and ready to make an educated buy. In eyes of a seller, a prequalified homebuyer also appears more motivated.

Is There Anything I Shouldn't Do While I'm Getting Pre-qualified for a Home Mortgage?

Don't suddenly pay off all your debts.

Don't apply for new credit cards.

Pre-qualification can be easy, but it's after you get pre-approved and the loan process progresses that your lender is required to pull a refreshed credit report before closing to check for any new debt. So, any major changes in your finances could delay your loan closing, or even result in a denial despite an earlier approval.
How can you keep your credit clear while your new home loan is in the works? Please, don't do any of these things:

Apply for a new credit card, auto loan, or other types of credit.

Co-sign a loan with someone.

Change jobs, become self-employed, or quit your job.

Skip payments on existing credit accounts, utility bills, or loans.

Charge up your existing credit on big-ticket items, like furnishings for a new house.

If you think any of theseabsolutely necessary, talk to your lender before you take action. Your loan officer can help you figure out what to do so that your mortgage loan is the least negatively affected.

What are Income and Debt Ratios?

Income ratio: Your total monthly housing expense divided by your pre-tax monthly income.

Debt ratio: Your total monthly housing expense plus any recurring debts, i.e., car payments, monthly minimum credit card payments, and other loan payments, divided by your monthly income.

Standard loan underwriting guidelines suggest a max 28 percent income ratio and 36 percent debt ratio, which may vary based on personal finances, loan program, and down payment.

While not taking on any debt and paying for everything with cash seems like a logical choice if you feel you can't afford your lifestyle, no credit also means bad credit in the eyes of a lender. There's bound to be a time when you can't buy something with cash, like buying a house (in most cases). So, we recommend opening at least three credit card accounts and making occasional purchases with each card.

To manage your debt and maintain healthy credit, keep credit card balances to less than 30 percent of your credit limit. Also, don't close long-term credit lines, even if they're not being used. Your longest standing credit card account might be a huge factor in your credit score health and the mortgage rate you qualify for.

What is Mortgage Insurance?

This insurance helps protect the lender if a borrower forecloses on their property. Borrowers pay for the mortgage insurance, allowing lenders to grant loans they might not have otherwise. Mortgage insurance may be required on some loans when a down payment is less than 20 percent.

Mortgage interest, insurance paid, and property taxes are tax-deductible for your principal residence. Buying a house is a big investment, but the tax deductions on the purchase may be large enough to lower your tax bill substantially. Interest/insurance payments on a residential mortgage (as well as mortgage interest/insurance on a second home) may be fully deductible, in most cases.

What is an APR?

Annual Percentage Rate: The cost of your total loan credit calculated into an annual interest rate, also called APR. The APR includes loan points and other prepaid finance charges to reflect the true yield on the loan, which is why the APR is normally higher than a loan interest rate. To check that you're getting the most competitive loan, you can compare "apples to apples," or APR to APR, on different loan programs.

After you've applied for a home loan, you can expect to receive a Loan Estimate from your lender. If you applied for more than one type of loan, a loan estimate will be broken down for each loan type. The APR for a loan will be listed on page 3 of the loan estimate, in the comparison section. Most of the time, you'll notice the difference between your APR and your loan interest rate right away. An APR is often higher than an interest rate because of added fees. An APR is essentially a comparison tool. Interest rates, loan fees, and points may be all over the map, but the APR can always be used to accurately compare multiple loan products. And in cases where an interest rate looks a little too attractive, the APR can tell you the real story.

You can use this handy trick to separate the good from the bad when choosing a mortgage: Compare a loan's APR to its advertised interest rate. An APR that's noticeably higher than the interest rate may be a red flag that added costs are attached to the loan. Your loan officer can also help you compare and better understand loan fees.

What is a Mortgage Refinance?

As the name implies, refinancing simply means obtaining new financing for something you already own (or partially own, like real estate). It's kind of like a balance transfer where you move your loan from one lender to another to get better terms, except it's a mortgage payoff.

If you currently have a rate of 6% on your mortgage, but see that refinance rates are now 4%, a refinance could make sense and save you a lot of money. You'd essentially have one lender pay off your existing loan with a brand new loan at the lower interest rate.

There is also the cashout refinance, which allows you to tap into your home equity while also changing the rate and term of your existing mortgage. So if you currently owe $200,000, but your home is worth $500,000, you could potentially take out $100k cash and your new loan amount would be $300,000.

When is the First Mortgage Payment Due?

This depends on when you close your home loan and if you pay prepaid interest at closing.

For example, if you close late in the month, chances are your first mortgage payment will be due in just over 30 days. Conversely, if you close early in the month, you might not make your first payment for nearly 60 days. That can be nice if you've got moving expenses and renovation costs to worry about, or if your checking account is a little light.

How Large of a Mortgage Can I Afford?

Here you'll need to consider home values, how much you make, what your other monthly liabilities are, what you've got in your savings account, and what your down payment will be in order to come up with your loan amount. From there, you can calculate your debt-to-income ratio, which is very important in terms of qualifying for a mortgage.

This is a fairly involved process, so it's tough to just estimate what you can afford, or provide some quick calculation. There's also your comfort level to consider. How much home are you comfortable financing? And don't forget the property taxes and insurance, which can make your housing payment much more expensive.

Do I Need to Get Pre-Qualified for a Mortgage?

That brings up a good point about getting pre-qualified. It's an important first step to ensure you can actually get a mortgage, while also determining how much you can afford. Two birds, one stone.

A more involved process is a mortgage pre-approval, where you actually provide real financial documents to a bank or mortgage broker for review, and they run your credit.

Real estate agents typically require that you be pre-approved if you want to make a qualified offer.

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Mortgages | Choose Right Lender For Mortgage Loan

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Yes, you can refinance a home equity loan into a mortgage, but this can bring up a lot of issues, including significantly higher payments than the homeowner originally had. It's possible to refinance both at the same time and make the home equity loan junior to the mortgage, which many find helpful.

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Homeowner Pro | Warranty, Debt, Services, Mortgage and Insurance

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Our goal at HomeownerPro is to provide a free resource center where homeowners can get the greatest value from one of the biggest transactions in life - buying, improving, and saving on your home. HomeownerPro is here to provide relevant news and product/services reviews to other fellow homeowners around the country.

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Americans in more than 13 States actually have the average amount of debt they owe exceed the total median income made per household. In these states, millions of people lose over 20% of their income to trying to pay off existing debt they piled up from taxes, credit cards, medical bills, student loans and more.

Even though American Homeowners of all ages continue to take on more debt, there are companies that can help reduce the interest on your existing loans and reduce the total amount of your debt in a few simple steps. Most people with $10,000 or more in debt can qualify for debt relief programs in just minutes - Learn How To Become Debt Free Now!

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Do I Have Too Much Debt? | Homeowner Pro

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Americans in more than 13 States actually have the average amount of debt they owe exceed the total median income made per household. In these states, millions of people lose over 20% of their income to trying to pay off existing debt they piled up from taxes, credit cards, medical bills, student loans and more.

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Select Your Loan Type & Compare Top Lenders:

After selecting the right type of mortgage for yourself or for your family, start by comparing the top mortgage lenders for each particular loan type that is right for your situation and financial goals. Make sure to compare quotes from at least three different lenders in order to get the best possible rates for your investment.

Best Refinance Mortgage Lenders

Best Fixed Rate Mortgage Lenders

Best Reverse Mortgage Lenders

Best Cash Out Mortgage Lenders

Best Government Mortgage Programs

Make Sure Your Debt & Credit Score are in Good Shape:

It is very important to improve your credit score before applying for a mortgage loan or even before refinancing your existing mortgage loan. Better credit scores will lead to better interest rates and lower monthly payments to the banks. Check your credit score here to get started!

Get Pre-approved for your Mortgage Loan:

If you have outstanding debt exceeding $10,000 from student loans, credit cards, medical bills or other personal loans, you qualify to consolidate that debt and reduce your monthly payments and overall amount owed back to the banks - this will allow you to have more money for your mortgage and also save more money moving forward. Check here to get a Free Quote on consolidating your existing debt.

Once you have compared quotes from at least three or more mortgage lenders (from step 1 above) and confirmed that your credit score and debt are in order, get started on buying your home by getting pre-approved for your mortgage here. If you are refinancing, then get in touch with this year's top refinance lenders like Quicken Loans, loanDepot and many more...

Best of luck in this journey and make sure to compare at least 3 or more mortgage lenders before locking into a rate and making a decision this big!

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Different Types of Mortgage Loans | Homeowner Pro

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Select Your Loan Type & Compare Top Lenders: After selecting the right type of mortgage for yourself or for your family, start by comparing the top mortgage lenders for each particular loan type that is right for your situation and financial goals.

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Refinancing can seem like a difficult task but with rates at historic lows this year, it makes sense to at least explore how much money you could save. Here are some easy steps to help you refinance with ease...

What is a Refinance? Refinancing is the process of replacing an existing mortgage with a new loan. The refinance loan pays off the old mortgage, but you still have to pay the new mortgage.

Refinancing your home mortgage can involve more paperwork than buying a home in the first place. But refinancing for the right reason, with a good rate and a suitable term, can be a big saver in the long run.

Some good reasons to refinance your mortgage include to lower your payment, to use your home equity to better manage debt, to pay off your loan faster, or to get a low rate for the life of your loan.

Typically, people refinance their mortgage in order to reduce their monthly payments, lower their interest rate, or change their loan program from an adjustable rate mortgage to a fixed-rate mortgage. Regardless of your goal, the actual process of refinancing works much in the same way as when you applied for your first mortgage: you'll need to take the time to research your loan options, collect the right financial documents and submit a mortgage refinancing application before you can be approved.

Step One: Check your credit score and your home equity value
Your credit score has a huge impact on the rate you could get on your new home loan. So, before you even start your refinance, it's a good idea to check your credit report to see where you stand. Check all three reports (Equifax, Experian, and TransUnion) for errors that could be bringing down your credit score, and if you find any, fix them. It's recommended to do this at least two months ahead of time to make sure any errors get fixed before you apply for your refinance loan.

Find out how much you have left on your mortgage and get an estimate of your home's value. Home equity that's less than 20% usually means higher fees and interest rates.

Step Two: Determine the best type of loan for you
There are three types of refinance loans:
Cash-Out
A cash-out refinance involves taking out a larger loan to pay off your current loan and capture some of the equity in your home. This loan can either have a shorter term, meaning you pay off the amount in less time, or it can have a lower interest rate. A cash-out loan is $2,000 or more, cash in your pocket, after the new loan is written. This extra money can be used to consolidate debt payments.
No Cash-Out
People with no cash-out refinances don't take out more money than is required by the refinance. They can opt to add it to the loan balance or the money comes out of their own pockets and covers closing costs. This kind of refinance can give you a shorter term, lower interest rate, lower payment or a combination of all three.
Rate-and-Term
Rate-and-term refinances change the interest rate of the loan or the term. Some people can change both. For example, someone may want to adjust the loan term from 30 years to 15 years and lower the rate to 2.25%. This refinance type is a common choice for people looking to save money in the long-run by eliminating the additional interest that is associated with the 30-year term.

Step Three: Gather all of your documents
Once you decided on the type of loan to apply for, it's time to put together all the paperwork you'll need. Documents needed will be very similar to when you purchased your home for the first time. This includes, but is not limited to:

Pay stubs from the past month

W-2s for the past two years

Tax returns for the past two years

Bank statements for the past two months

Your most recent mortgage statement

Your homeowners insurance policy

Step Four: Use a mortgage calculator
Using a mortgage calculator is also a good idea. We have an easy mortgage calculator you can try right here on our mortgage page. You'll need to know the fees you'll pay, your new interest rate, and your new loan amount. Once you input the data, the tool will calculate your monthly savings, new payment, lifetime savings, and the number of months until you break even, considering the costs of your refinance. Using a refinance calculator will give you a good idea of what to expect.

Step Five: Research your loan options with several different lenders
You want to shop for your best mortgage refinance rate and get a loan estimate from each lender. After assembling all the necessary documents, you can fill out your loan application. As you fill in the forms, take extra care to make sure all your information is accurate and complete. Any mistakes can slow down the loan process and possibly create problems when you get to the underwriting stage.

Each potential lender is required to issue an estimate within three days of receiving your basic information. The estimate is a document that details the loan terms, projected payments, estimated closing costs, and other fees. Compare the loan details from each lender and decide which one is best for you. When you have a few estimates from mortgage lenders, you can use the mortgage calculator explained above to help determine who offers the best deal.

Step Six: Get a home appraisal
The purpose of a home appraisal is to make sure your home is worth enough to qualify for your new loan. Your lender will arrange to have an appraiser come inspect your house, take pictures and notes, and write a report. You will be responsible for the cost of this process, which averages between $300 and $400. If the appraiser concludes your home is worth more or less than you thought, the lender might revise your loan estimate, and you will need to review it again.

Step Seven: Go through underwriting
Your loan must go through underwriting review. An underwriter carefully goes over all the documents you provided to make sure that everything is accurate and to verify that you can afford the new loan payments.

If the underwriter finds any problems, you may be contacted with questions or asked to provide additional documents. If the underwriter is satisfied, you'll receive an approval letter with the final terms and conditions of your loan. Review it carefully to make sure it meets your expectations.

Step Eight: Lock in your rate
Once you're satisfied with your loan approval and conditions, you'll get a chance to lock in your interest rate. A rate lock guarantees that you'll get the rate specified in your approval letter. You can actually lock in your rate sooner than this, but the lock is only good for a limited period of time - typically between one week and two months. Selecting a longer lock period adds to your closing costs, so it's usually best to wait until about six days before closing to lock in your rate.

Step Nine: Close your loan
As soon as your loan rate is locked, you will get a preliminary closing statement that sums up your terms and closing costs. You should review it carefully. Your lender will tell you when and where to meet for the closing, where you will sign all of the final loan documents in the presence of a lawyer or notary public. After your closing, you have a three-day "right of cancel" period. If you change your mind about the refinance during this time, you can contact your loan agent and cancel the loan. Once these three days are up, your old mortgage will be paid off and your new one will go into effect. Your lender will send you a new mortgage or deed and an official closing statement, called a HUD-1 form. Hold on to this for tax purposes.

So What's Next?
Take a look at our Best Picks for some Great Refinance Partners to choose from.
Best of luck in this journey and make sure to compare at least 3 or more mortgage lenders before locking into a rate and making a decision this big!

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Steps To Refinancing Your Home | Homeowner Pro

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Refinancing can seem like a difficult task but with rates at historic lows this year, it makes sense to at least explore how much money you could save. Here are some easy steps to help you refinance with ease... What is a Refinance? Refinancing is the process of replacing an existing mortgage with a new loan.

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What does a Home Warranty Actually Cover?

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What does a Home Warranty Actually Cover?

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Many standard home warranty plans cover all the parts and components of your home's electrical, plumbing, heating and air conditioning systems, as well as many other home appliances. Of course, there are a wide variety of coverage options depending on the plan and provider you choose.

A home warranty is different from homeowners insurance. Homeowners insurance pays for damage and loss caused by outside forces such as fire, weather, or even vandalism. If any of these events damage or destroy a portion of your home, homeowners insurance would help you rebuild and replace your lost and damaged belongings.

A home warranty covers the cost of repairs and replacements of certain appliances and systems in your home caused by everyday wear and tear, or from old age. Examples of appliances and systems that may be covered in a home warranty plan include washers, dryers, oven ranges, furnaces, and hot water heaters. While individual appliances may initially be covered under manufacturers' warranties, these only last for a predetermined period of time. Home warranties provide protection regardless of the age of the appliance or system. Here is a list of common appliances covered by a Home Warranty Policy...

Washer

Dryer

Dishwasher

Refrigerator

HVAC

Garage Door Systems

Electrical Systems

Plumbing Systems

Oven & ranges

Microwave

Trash Compactors

Ice Makers & Ice Machines

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What does a Home Warranty Actually Cover? | Homeowner Pro

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Many standard home warranty plans cover all the parts and components of your home's electrical, plumbing, heating and air conditioning systems, as well as many other home appliances. Of course, there are a wide variety of coverage options depending on the plan and provider you choose. A home warranty is different from homeowners insurance.

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A Home Warranty can help anyone save money and protect expensive appliances and home systems (like ovens, HVAC units, Washer/Dryer, Electrical Systems and much more) over the years as a homeowner. Lets learn how...

You take on a huge financial responsibility when you become a homeowner. After the down payment, you may have a mortgage, property taxes, homeowners insurance, and perhaps HOA fees. Then you need to furnish it, maintain it, improve it, and maybe upgrade it. One of the greatest costs within any home are the home appliances and home systems that power the household.

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How Can a Home Warranty Save Me Money? | Homeowner Pro

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A Home Warranty can help anyone save money and protect expensive appliances and home systems (like ovens, HVAC units, Washer/Dryer, Electrical Systems and much more) over the years as a homeowner. Lets learn how... You take on a huge financial responsibility when you become a homeowner.