Sunrise Homes & Renovations, Inc.

Pet Safety Checklist

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Pet Safety ChecklistMany people view their furry friends as members of the family. If you have pets at home, you need to make sure they are well taken care of. That means taking a closer look at an important pet safety checklist. What are a few of the most important items you need to include on this checklist if you want to make sure your dogs and cats are safe?

Regular Checkups Are Critical

First, you need to make sure that you take your pets to the veterinarian at least once per year. Just as you go to the doctor once per year, your pets need to go to the doctor once per year as well. Regular check-ups are important because the veterinarian could identify issues that you might not otherwise have noticed. In addition, this gives a veterinarian an opportunity to make sure your pets’ vaccinations are up-to-date.

Spay Or Neuter Your Pets

Unless you plan on having kittens or puppies, you also need to make sure that your dogs and cats are spayed and neutered. There are already far too many animals in animal shelters, so if you are not planning on breeding dogs and cats, you do not want to add to the population unnecessarily. There might be opportunities for you to get this operation financed, which could make it more affordable.

Lock Up Unsafe Items

Keep an eye on your home environment as well. Keep a close eye on how much human food you give your dog or cat. There are certain items that are simply not healthy for dogs and cats, and some items could be poisonous. You should also make sure that any cleaning supplies are locked behind a cabinet door. That way, your pets do not ingest anything that could poison them.

Protect Your Furry Friends

These are a few critical steps that you need to take to make sure your dogs and cats are safe. If you are interested in learning more about the steps you can take to protect your furry friends, consider reaching out to a veterinarian who can help you.

Irrigation Options For Your Yard

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Irrigation Options For Your YardIf you are tired of deploying sprinklers and standing over your yard with a hose, you might be interested in some irrigation options. There are plenty of choices available, and you need to think about all of your options before you decide which one is best for your needs. What are a few examples to consider?

A Drip Irrigation System

A drip irrigation system delivers water directly to the roots of plants. It delivers water at a slow, steady pace using micro-sprayers, bubbler nozzles, or inline emitters. The biggest advantage of this type of system is that it uses significantly less water when compared to other watering systems. There is no runoff or wastewater because the water itself is delivered directly to the root system. On the other hand, a drip irrigation system requires a significant amount of maintenance to prevent mineral buildup and system clogs from forming.

A Spray System

A spray system is arguably the most popular method to deliver water to just about every type of landscape. It typically consists of a controller system, a series of valves, and sprinklers that will automatically distribute water. The biggest advantage of a spray system is that it can cover an immense amount of area with ease. The downside is that it may have a difficult time keeping the water evenly dispersed on a sloped landscape.

A Rotor System

A rotor system is very similar to a spray system; however, the sprinkler heads rotate on a rotor system. They do not rotate on a spray system. A rotor system typically distributes water more evenly when compared to a traditional spray system. The downside is that a rotor system requires higher water pressure than a spray system, which means that it might be more expensive.

Choose The Right Irrigation System For Your Yard

In the end, these are a few of the most popular options if you are looking for an irrigation system for your yard. Each system has its benefits and drawbacks, and the right option for one person is not necessarily the right option for you. If you are having a hard time deciding which system to go with, consider reaching out to an expert who can help you. 

 

Understanding ‘PITI’ and What Goes in to Your Monthly Payments

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Understanding 'PITI' and What Goes in to Your Monthly PaymentsAsk any friend or family member that owns a home and they will share that it takes a bit of management to keep all the expenses under control. Let’s explore the concept of PITI and why it is vital to have a clear picture of how much your home is costing you each month.

Just What Is PITI, Anyway?

PITI is an acronym that stands for “principal, interest, taxes and insurance,” which are the four main components that make up your housing costs.

Principal – this is the amount that you are paying against the total amount that you borrowed when you purchased the home. For example, if you used a mortgage to cover $200,000 of the home’s purchase price, the remaining balance of that $200,000 is the principal. A part of your monthly mortgage payment goes to paying down the principal.

Interest – this is the extra cost that the lender charges for the service of lending you the principal amount. For most mortgages, you will see this expressed as an “interest rate” which is a small percent charged on the loan. A portion of your monthly mortgage payment goes to paying down the interest owed.

Taxes – tax costs are not included in your monthly mortgage payment, but will be added by your lender as part of your yearly expenses when calculating your debt-to-income ratio (see below). Property taxes and other assessments will need to be paid each year.

Insurance – this is the cost of insuring your mortgage and your home. Like taxes, your mortgage lender will typically include some insurance costs in your DTI ratio calculation.

How Lenders Use PITI

Many mortgage lenders use some form of PITI calculation when determining your debt-to-income ratio. This ratio helps the lender understand your ability to manage your monthly mortgage payments without being at risk of missing one. The lower the ratio, the more likely you can afford all your monthly expenses.

Don’t Forget Your Other Monthly Expenses

Finally, don’t forget that along with PITI you will have a variety of other monthly expenses that need to be budgeted for. Leave some space for utilities, repairs and other renovations that need to be made throughout the year.

Once you have the full picture of what is coming in and going out each month, managing your expenses is easy. When you are ready to discuss or apply for a mortgage, get in touch with us. Our friendly team of mortgage professionals is happy to help.

Finding The Best Mortgage Deal: What To Do

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Finding The Best Mortgage Deal: What To DoYou have worked hard for your money, and you probably want to save as much of it as you possibly can. That means you need to find the best possible mortgage deal you can. What are a few steps you should take if you want to get the best loan terms possible?

1. Get Plenty Of Estimates

You need to get a lot of estimates from different types of lenders. Examples include private mortgage companies, commercial banks, and credit unions. If you have a real estate agent, you may want to see if they can refer you to a loan officer. Many of these institutions have forms you can fill out online. Then, they will give you a custom rate estimate. When you compare rates across institutions, you must make sure you use the same loan terms. For example, you might want to get a 30-year fixed-rate estimate from all of these institutions. 

2. Understand Closing Costs

When you get an estimate back from the lender, they will probably give you the total loan amount, the term (or length) of the loan, and the interest rate; however, you cannot overlook closing expenses. For example, some lenders will charge you a fee just for printing your loan documents. Pay attention to the closing costs and try to remove as many of them as possible.

3. Select A Lender

After reviewing the documents carefully, you should select a lender. Be sure to ask about the rate lock period, which guarantees your interest rate for a certain amount of time. You need to make sure your interest rate will not change before you get to the closing table. You should also ask about prepayment penalties, which refers to penalties you might have to pay for paying off your mortgage early. If you plan on making extra payments toward the principal, try to remove the prepayment penalty.

4. Finalize The Document

Once you are done with the negotiating process, go ahead and finalize the document. You cannot necessarily negotiate appraisal fees or government recording fees, but you can negotiate your closing expenses, interest rate, and points. Once you are done, work with your agent to get to the closing table and start the moving process. 

 

3 Reasons to Hit the Accelerator on Your Mortgage Payments – If You Can Afford It

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3 Reasons to Hit the Accelerator on Your Mortgage Payments If You Can Afford ItDoes the thought of repaying your mortgage for the next twenty-plus years leave you feeling a little down? Whether you’ve had your mortgage for weeks or years, accelerating your payments is an excellent option that can help get your mortgage fully paid off in a shorter time frame. Let’s explore three great reasons to accelerate your payments so that your mortgage debt is paid down faster.

You’ll Be Debt-Free That Much Faster

It may seem obvious, but it’s worth stating that you’ll be debt-free that much quicker if you accelerate your repayment schedule. Every extra payment you make against your mortgage debt builds the amount of equity you own in your home. So not only are you becoming more debt-free with each payment, but you’re also building your net worth. And while it’s true that you might only shave a year or two off of your 25-year mortgage period, being debt-free faster is still worth the effort.

You’ll Pay Less Interest

With most mortgages, any extra payments that you make will go straight towards your ‘principal’ balance. Getting the principal paid down faster means that you’ll end up paying less in interest than if you hadn’t. If you consider that every year you shave off of a 20-year amortization period is a full year of interest that you won’t have to pay, it adds up. Note that if you have an existing mortgage agreement, you’ll need to check the terms to determine the rules around extra principal payments.

You’ll Have More Financial Freedom

Finally, the faster you get your mortgage paid off, the more financial freedom you’ll have. The equity and credit you’ve built over time will also provide you with some options. You can invest in buying an investment property, or in taking out a line of credit to renovate and upgrade your current home. If the numbers make sense, you can also borrow against your home equity to invest in the financial markets. This will diversify your investment portfolio and expand your net worth.

As you can see, it’s well worth the financial investment to accelerate your mortgage repayment. If you can afford it and it won’t significantly lower your quality of life. If you have questions about a mortgage new or existing, contact our team of mortgage professionals. We’re happy to help.

An Overview Of A Buyer’s Agent

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An Overview Of A Buyer's AgentIf you plan on purchasing a home in the near future, you have probably noticed that there are plenty of options available. The market changes quickly, the perfect house may come and go before you get a chance to see it, and you might have a hard time figuring out which house is right for you. A buyer’s agent can be helpful, but do you actually need to work with one? There are several important points to keep in mind.

A Buyer’s Agent Represents Your Interests

You should consider working with the buyer’s agent because they will represent your best interests. Their main goal is to help you go through houses that could be right for your needs, pointing out potential problems while highlighting specific features.

They will help you find a house that suits your requirements and your budget, helping you fulfill as many items on your wish list as possible. They will also draft offers on your behalf, help with the negotiation process, coordinate closings, and handle paperwork. They are important because they can prevent a real estate deal from falling through.

A Buyer’s Agent Is Not Necessarily Required

You are not legally required to hire a real estate agent or buyer’s agent to help you find the right house. At the same time, it is typically better for you to hire a real estate agent to help you with the process. A knowledgeable buyer’s agent is important for giving you a competitive advantage when you are bidding on a house.

They are even more helpful if there is a lot of demand for homes and not a lot of supply on the market. A real estate agent also understands how to fill out paperwork, and they can tap into their referral network to see if there are houses you might be interested in that are not yet on the market.

Who Pays For A Buyer’s Agent

You should also consider working with a buyer’s agent because you don’t necessarily have to pay them. The vast majority of buyer’s agents are paid on commission, and the commission comes from the sale price of the house. This means the seller will pay for your agent and the buyer’s agent.