mortgage

what renovations have the best resale value?

Are you thinking of selling? how about home improvements before selling? it is important to know how much money you will re-coup from these projects. below is a list from Hanley Wood, LLC the 2016 Cost vs. Value Report can be downloaded free at www.costvsvalue.com

  1. Manufactured Stone Veneer : Cost $7,511 / Resale Value $7,504
  2. Attic Insulation : Cost $1,272 / Resale Value $1,112
  3. Minor Kitchen Remodel : Cost $19,744 / Resale Value $17,180
  4. Garage Door Replacement : Cost $1,607 / Resale Value $1,316
  5. Family Room Addition : Cost $84,969 / Resale Value $69,361
  6. Fiberglass Entry Door Replacement : Cost $3,121 / Resale Value $2,534
  7. Two Story Addition : Cost $169,858 / Resale Value $135,166
  8. Wood Deck Addition : Cost $10,751 / Resale Value $8,401
  9. Steel Entry Door Replacement : Cost $1,340 / Resale Value $1,040
  10. Basement Remodel : Cost $67,012 / Resale Value $50,989

Hope this gives you some food for thought!

may 2016 - qualifying for a home loan?

more often than not, if you are buying a home, you are using financing to do it. there are some things to keep in mind when qualifying for a home loan with a bank. 

these are some of the things you will need to provide:

  • previous 2 Pay Stubs
  • previous 2 years W2 forms
  • previous 2 years Tax Returns
  • 3 Months Recent Bank Statements
  • Contract to Buy & Sell (if you are already under contract)
  • Social Security Card
  • Home Addresses over last 2 years

things you do not want to do while qualifying and could effect your ability to do so:

  • change your marital status
  • change jobs
  • switch banks or move money between institutions
  • pay off existing accounts (unless lender tells you to do so)
  • make a large purchase
  • apply or open new lines of credit

We hope this helps & happy qualifying!