Calculating Your Monthly Mortgage Payments

One of the most important factors to consider when buying a new home is affordability.  As a general rule, mortgage payments should not exceed 25-30 percent of your monthly take-home pay.  The best way to know what you can afford is to determine the possible payment range by comparing the price of the home with other essential ingredients.

Figure Out How Much You Want To Borrow

Your first step to calculating your monthly mortgage payment is knowing how much you want to borrow.  This can be determined by subtracting your down payment amount from the purchase price of the home, which will give you the amount that you will need to request from a lender.

Know Your Rates

The next step is to determine the current interest rates for the purchase of a home.  Rates vary and may change often, so check with your lender for current rates.  It’s worth noting that the interest rates you receive will, in part, be based on your credit history.  This means that knowing your FICO score and credit rating will give you a good idea as to how your interest rates will be calculated.

Choose Your Loan Term

Your monthly mortgage payments will be determined by a number of factors, including the term of your loan.  If you were to borrow $250,000, your monthly payments would be less with a 30-year mortgage than with a 15-year mortgage.  The reason is because it would take larger monthly payments to get the loan paid off quicker, which is why you will need to select a loan term before calculating your payments.

Additional Costs To Consider

Your total mortgage payment will include taxes, homeowner’s insurance and possibly even private mortgage insurance (PMI) if you provide less than 20 percent down and your loan requires it.

Just The Facts & Figures

Now that you know how much you need to borrow, have chosen your loan term and are familiar with the current interest rates, it’s time to calculate your payment.  Most lenders offer a mortgage calculator on their Web site or you can get an estimate by speaking with your lender.

If you still need help in calculating your potential monthly mortgage payments, don’t hesitate to ask your REALTOR®, mortgage broker or lender.

The Right Christmas Wreath For Your Front Door

Choosing the perfect tree is part of any holiday decorating tradition, but finding the right wreath for your front door can really finish off your holiday look and can be a beautiful and elegant addition to your exterior décor.  Choosing the right wreath, however, can be complicated, so here are a few tips to consider for finding a holiday wreath that not only works for your door, but also coordinates with your other holiday decorations and the exterior of your home.

Size

The size of your wreath is an important consideration in making it look its best on your front door.  If you have a large, prominent front door then you’ll want to choose a wreath that matches it well.  A small wreath will get lost on the door and won’t look proportional.

Color

While you may select a wreath based on its appearance and whether it matches your other holiday décor, you will also want to choose a wreath that has colors that complement the color of your door.  If you have mostly red and green holiday decorations, but have a blue door, you may want to consider a blue and silver themed wreath, perhaps hung with white lights, to better complement your front door.

Materials

This is the area where you can really get creative.  From natural to synthetic, from pine to grapevine, there are a number of options from which you can choose.  Again, when selecting a wreath for your front door you’ll want to consider whether it matches not only the other decorations, but the door itself and the style of your home.  For example, if you live in a traditional or historic style home, using natural materials such as greenery and berries may look better than a more modern arrangement.

Decorating for the holidays should always be fun and reflect your personal style. But when selecting particular items for the exterior of your home, it is always a good idea to be sure they accent rather than detract.

 

Is A Real Christmas Tree Right For You?

There is nothing quite like the smell of fresh pine filling your home during the holiday season, and a real Christmas tree can do that better than any candle or air freshener.  Having a real tree is a tradition for many families, but if you haven’t had one before and are considering it, there are a few things you should know before you take it on.

Real Trees, Real Mess

A real tree can make a bit of a mess in your home—you will have to vacuum up the dropped needles regularly.  You will also have to keep fresh water in the tree stand and watch out for leaks or spills.  There can also be other natural surprises in a real tree such as insects and spiders!  While this is rarely a serious problem, it is something to keep in mind.

Repeated Cost Or One Time Cost?

Buying a false tree is something you can invest in one year and use for many years to come.  A real tree, on the other hand, will have to be replaced every year.  The cost of a real tree depends on where you live.  If you live in a hotter climate where naturally grown pine trees are scarce, you will pay a premium for trees that are imported from elsewhere—and they won’t be as fresh!  If you live in a place where pine trees grow freely, the cost will be much less, and the tree will last longer since it will be fresh.

The Hunt For The Perfect Tree

If you just have to have that perfectly shaped Christmas tree, you will find it easier to use in a fake tree.  Still, hunting through a tree farm or forest for the elusive perfect natural tree is a lot of fun for many people, and if you aren’t too set on perfection you will probably find something pretty close.  Just be sure the search is something you will enjoy.

A real Christmas tree adds a certain ambience and holiday spirit to any home, but it isn’t right for everyone.  Consider the benefits as well as the possible problems with a real tree before you make a final decision on how to get your home ready for the holidays.

 

Christmas Decorating Ideas

Along with the Christmas festivities comes the desire to decorate your home with twinkling lights, wreaths, trees and even yard ornaments featuring the theme of the holidays.  If you want to make your next Christmas decorating venture a real holiday treat, consider the following ideas:

Homemade Wreath Decorations

Create your own lighted wreath by taking a short strand of mini-lights and wrapping them around a plain wreath.  You can use either multi-color or clear lights, and this approach can easily be used for both indoor wreaths and garland decorations.

Creating A Modern Centerpiece With Classic Holiday Style

Use a clear glass vase or bowl as a centerpiece and fill it with round glass ornaments.  For Christmas, the combination of silver and gold or red and green will be ideal.  When paired with the beauty of a simplistic glass holder, the ornaments will add a very modern twist to a very traditional color combination.

Holiday Decorating Scents

A nice bowl of fresh fruit, including oranges, tangerines and apples will give a nice welcoming holiday scent to your home.  For many, the smell of fresh fruit is reminiscent of the December season as fruit baskets are common gifts that are exchanged during Christmas.  You can place the bowl on your dining room table or in the family room, both of which will offer guests the ability to appreciate your style.

Display Your Christmas Cards

Take some felt or fabric and create a hanging decorative piece to show off all of the Christmas cards you receive.  You can use a small safety pin to attach the cards to the fabric, so that the beauty of the front of the card is seen.  This can be hung on a wall, or support post or beam or the railing leading up your stairs.

Turn Out The Lights

Turn out your normal overhead lighting each night, light up the tree and burn candles throughout the house for a peaceful and relaxing setting.  Watch your favorite Christmas movie, sing carols and just share good times together.