General
7 Reasons to Own Your Own Home
7 Reasons to Own Your Own Home
1. Tax breaks. The U.S. Tax Code lets you deduct the interest you pay on your mortgage, property taxes you pay, and some of the costs involved in buying your home.
2. Gains. Between 1998 and 2002, national home prices increased at an average of 5.4 percent annually. And while there’s no guarantee of appreciation, a 2001 study by the NATIONAL ASSOCIATION OF REALTORS found that a typical homeowner has approximately $50,000 of unrealized gain in a home.
3. Equity. Money paid for rent is money that you’ll never see again, but mortgage payments let you build equity ownership interest in your home.
4. Savings. Building equity in your home is a ready-made savings plan. And when you sell, you can generally take up to $250,000 ($500,000 for a married couple) as gain without owing any federal income tax.
5. Predictability. Unlike rent, your mortgage payments don’t go up over the years so your housing costs may actually decline as you own the home longer. However, keep in mind that property taxes and insurance costs will rise.
6. Freedom. The home is yours. You can decorate any way you want and be able to benefit from your investment for as long as you own the home.
7. Stability. Remaining in one neighborhood for several years gives you a chance to participate in community activities, lets you and your family establish lasting friendships, and offers your children the benefit of educational continuity.
Reprinted from Realtor Magazine Online by permission of the National Association of Realtors
8 ways to improve your credit
8 Ways to Improve Your Credit
Credit scores, along with your overall income and debt, are a big factor in determining if you’ll qualify for a loan and what loan terms you’ll be able to qualify for.
1. Check for and correct errors in your credit report. Mistakes happen, and you could be paying for someone else’s poor financial management.
2. Pay down credit card bills. If possible, pay off the entire balance every month. However, transferring credit card debt from one card to another could lower your score.
3. Don’t charge your credit cards to the maximum limit.
4. Wait 12 months after credit difficulties to apply for a mortgage. You’re penalized less for problems after a year.
5. Don’t purchase big-ticket items for your new home on credit cards until after the loan is approved. The amounts will add to your debt.
6. Don’t open new credit card accounts before applying for a mortgage. Having too much available credit can lower your score.
7. Shop for mortgage rates all at once. Too many credit applications can lower your score, but multiple inquiries from the same type of lender are counted as one inquiry if submitted over a short period of time.
8. Avoid finance companies. Even if you pay the loan on time, the interest is high and it will probably be considered a sign of poor credit management.
This information is copyrighted by the Fannie Mae Foundation and is used with permission of the Fannie Mae Foundation. To obtain a complete copy of the publication, “Knowing and Understanding Your Credit,” visit http://www.homebuyingguide.org.
Reprinted from Realtor Magazine Online by permission of the National Association of Realtors
Checklist for Buying a House
One of the most important things you can do is to make yourself a checklist as you search for, find, and buy a home.
http://www.ourfamilyplace.com/homebuyer/checklist.html
Mortgage Loan Information
The first step in a buying process is to speak to a mortgage loan officer who can discuss with you your loan options and most importantly the price range you can afford to purchase. Pre-qualification is the most important step to help you begin the negotiating process in purchasing a home.
http://jeffhowardloans.com
Pet Quarantine
Look here for Frequently Asked Questions for relocating your pet to Hawaii.
http://www.hawaiiag.org/hdoa/ai_aqs_info.htm
U.S. Census Bureau Web Site
The Census Bureau Web Site provides on-line access to data, publications, products, and programs.
http://www.census.gov/
Relocation
Relocation Central
A comprehensive, nationwide resource for the latest relocation/moving information organized by city and categories of interest from apartments to zoos.
http://www.relocationcentral.com/
Salary.com
Free salary information, salary and benefits advice, career and job search help. Hundreds of salary surveys, compensation reports, and useful links.
http://www.salary.com/
School
Oahu School Directory
Find out about all the public schools across Oahu.
http://doe.k12.hi.us/myschool/map_oahu.htm
Private School Directory
List of private schools in alpha order.
http://www.hais.org/hi_pr_schools.htm
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