HOUSING UPDATE
Your credit score is crucial when buying a home
When you’re thinking about buying a home, your credit score is one of the biggest pieces of the puzzle. Think of it like your financial report card that lenders look at when trying to figure out if you qualify, and which home loan will work best for you As the Mortgage Report says:
“Good credit scores tell lenders that you have a track record for properly managing your debts. For this reason, the higher your score, the better your chances of qualifying for a mortgage.”
The trouble is most buyers overestimate the minimum credit score they need to buy a home According to a report from Fannie Mae, only 32% of consumers have a good idea of what lenders require. That means nearly 2 out of every 3 people don’t.
So, here’s a general ballpark to give you a rough idea. Experian says:
Source: Merrill,Cerulli Associates
“The minimum credit score needed to buy a house can range from 500 to 700, but will ultimately depend on the type of mortgage loan you’re applying for and your lender. Most lenders require a minimum credit score of 620 to buy a house with a conventional mortgage ”
Basically, it varies So, even if your credit isn’t perfect, there are still options out there FICO explains:
“While many lenders use credit scores like FICO Scores to help them make lending decisions, each lender has its own strategy, including the level of risk it finds acceptable. There is no single “cutoff score” used by all lenders, and there are many additional factors that lenders may use “
Even if your score isn't perfect, there are still pathways to homeownership. Let’s connect if you want to go over your options with an expert.
And if your credit score needs a little TLC, don’t worry Experian says there are some easy steps you can take to give it a boost, including:
1.PayYourBillsonTime
Lenders want to see that you can reliably pay your bills on time. This includes everything from credit cards to utilities and cell phone bills. Consistent, ontime payments show you’re a responsible borrower
2.PayOffOutstandingDebt
Paying down what you owe can help lower your overall debt and make you less of a risk to lenders. Plus, it improves your credit utilization ratio (how much credit you’re using compared to your total limit) A lower ratio means you’re more reliable to lenders
3.Don’tApplyforTooMuchCredit
While it might be tempting to open more credit cards to build your score, it’s best to hold off Too many new credit applications can lead to hard inquiries on your report, which can temporarily lower your score.
We’re here to help you purchase the home of your dreams. We know that buying a home is one of the most important decisions you will make. Few things give you more pride than owning your own home, and you will probably make no greater single investment in your lifetime We want to help you make that dream come true. There are many different types of loan programs you can choose from, and the best loan program for your neighbor may be different than the one that is right for you.
process could not have been any
When you call us a personal advisor will review your credit profile to determine how our program will effectively increase your credit scores.
Then your dedicated credit coach will provide a customized plan to quickly exceed the minimum credit qualification thresholds of a mortgage.
You Shouldn’t Believe
Designersexplainfactfromfiction Kitchen Design Myths
Whether it's down to kitchen trends or odd rules that have become the go-to guide, more kitchen design myths are untrue than expected So before you start remodeling your kitchen or making any big design decisions, check you're not skirting around any false rules
"It's often considered that painting all of your kitchen cabinetry in one color is the best way to create a streamlined and cohesive scheme And while there's nothing wrong with doing that, two-tone kitchen cabinets can be a great way to add interest and personality to your design Consider painting the lower cabinets a darker or more vibrant color and use an off-white or light neutral on the upper cabinets You want to make sure there is cohesion among the two colors, but this is a great way to bring a more subtle touch of color to the space says Arianna Barone, color marketing manager at Benjamin Moore
2. Large kitchens are the most luxurious
'It's a common misconception that a sprawling kitchen is the pinnacle of luxury and functionality The truth is, that intelligent design trumps scale every time,' says interior designer Lauren Gilberthorpe 'Thoughtful layouts, smart storage solutions, and multifunctional elements can transform even the most compact kitchens into efficient and stylish spaces By prioritizing design over square footage, you can create a kitchen that works beautifully for your lifestyle,' she explains
3. Natural stone is a bad choice
'One myth I often hear is that natural stone is a disaster in a kitchen I beg to differ. We have soapstone in our kitchen – a natural stone that is incredibly durable, beautiful, functional, and practical You can put a steaming hot pot on it, and nothing will happen,' says interior designer Becky Shea 'While certain marbles are more delicate, the advancements in stone sealing have come a long way Sealers like TuffSkin protect the counter from oil and etching, making natural stone a viable option for any kitchen. If you can, go natural!'
4. The kitchen triangle is a precise design
'We do hear a lot about the kitchen triangle as if it is a millimeter precision calculated formula that has to be adhered to In all honesty, this is common sense in terms of careful planning the design of the kitchen,' says Jayne Everett, creative designer at Naked Kitchens
5. Open plan kitchens are outdated
'Whilst during Covid we saw an increasing interest in broken-plan kitchen layouts – featuring more clearly defined zones offering more privacy –open-plan is still very much a trend and something that our clients continue to request,' says kitchen designer Tom Howley 'Open-plan kitchen layouts provide larger spaces for families and friends to get together and be sociable, so the kitchen living space truly becomes the heart of the home
6. You shouldn't paint wooden cabinets
There's always been a slightly odd misconception that if you have wood kitchen cabinets, you shouldn't paint over them But when it comes to curating a kitchen you love, Arianna says there's no reason you shouldn't paint them if it's going to elevate the design 'Kitchen cabinets are a great place to bring in a bolder color as an accent and focal point in the space Since cabinets often take up the majority of the walls in a kitchen, painting them is a great way to bring an entirely different mood to the room,' she adds
WHAT IS THE VIRAL DEMURE INTERIOR DESIGN TREND?
You won't be surprised to learn that TikTok trends are having a huge impact on interior design trends of late. From colors du jour to styling hacks and remodeling do's and don'ts, there's a lot to learn from those viral videos. Here is how you become more demure with your decor to create timeless, serene, quietly beautiful spaces.
DEMURE INTERIOR STYLE
A demure interior design style focuses on subtle and understated sophistication, much like the quiet luxury trend. 'Spaces that feel soothing, warm, welcoming, and collected over time are the most demure and mindful,' explains Molly Torres Portnof of DATE Interiors.
1. LOOK TO TIMELESS STYLE – NOT TRENDS
A demure home follows a timeless principle. 'I love to see the design world reimagining the traditional concept of demure with a fresh and inspiring take on it,' says interior designer Emily Brown, founder of Emily Lauren Interiors. 'The key to a demure interior lies in intentionality. It's about creating spaces that are not only visually appealing but also functional and meaningful.'The best advice you can take away from the demure trend is that you want your home to feel authentically you, without jumping into trends and passing fads Take time to hone your personal style with pieces that have been collected over time and always consider first if something really works for your space.
2. STICK TO SOFT COLORS
In order for your home to feel comfortable and refined, a pared-back color palette of soft hues works best Designers are drawn to a base of neutrals layered up with gentle de-saturated, timeless colors and prints for a look that won't age. In order to dial up the warm and romantic ambiance, steer clear of harsh overhead lighting from the big light and instead focus on wall, floor, and table lamps and candles.
3. BE MODEST WITH YOUR DECOR
Try not to do too much with your decor and accessories. Find a home for things that don't need to be seen, give your spaces a de-clutter, and be mindful with your belongings. But – give yourself grace, a home is for living
and we don't want our rooms to feel empty. 'It's crucial to remember that demure doesn't mean impersonal,' 'Emily Brown adds. 'Fill your space with personality by incorporating collected art, vintage finds, or special pieces you found during your travels. A demure interior should tell a story, reflecting the unique character of the people living there.
4. SHOP MINDFULLY WITH SECONDHAND PIECES
A crucial element of the demure trend is to be conscious of how you are sourcing pieces for your home. Creating a softly eclectic space by mixing new and old with antiques and thrifted pieces, is in fact, very mindful of both the plant and your wallet Emily Brownell, of Gilded Hearth Interiors, loves to work with vintage in her designs 'For a more demure look try sticking with classics but with a twist,' she suggests. 'To bring in that demure feel pair your new with your old.
5. MIX PRINTS AND TEXTURES
Kathy Kuo explains. 'As with any trend of the moment, it's always best to see where you can find the timeless elements and with the 'demure' moment du jour, I would look to floral patterns, chic European-inspired silhouettes and details, and fabrics that not only feel luxurious but are designed to last!' Very mindful indeed. Emily Brown agrees, saying: 'Layering in soft textures like velvet, linen, and silk, combined with subtle small patterns like stripes or florals, adds depth and interest without overwhelming the space. High-quality materials are essential to achieving a luxurious feel. We like to use unlacquered brass or polished nickel, natural wood finishes, and quiet natural stone.'
BENJAMIN MOORE
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