If you’re thinking about buying a home, you should know your credit score’s a critical piece of the puzzle when it comes to qualifying for a home loan. Lenders review your credit to assess your ability to make payments on time, to pay back debts, and more. It’s also a factor that helps determine your mortgage rate. An article from Bankrate explains:
“Your credit score is one of the most important factors lenders consider when you apply for a mortgage. Not just to qualify for the loan itself, but for the conditions: Typically, the higher your score, the lower the interest rates and better terms you’ll qualify for.”
This means your credit score may feel even more important to your homebuying plans right now since mortgage rates are a key factor in affordability, especially today. According to the Federal Reserve Bank of New York, the median credit score in the U.S. for those taking out a mortgage is 765. But, that doesn’t mean your credit score has to be perfect. An article from Business Insider explains generally how your FICO score range can make an impact:
“ . . . you don’t need a perfect credit score to buy a house. . . . Aiming to get your credit score in the ‘Good’ range (670 to 739) would be a great start towards qualifying for a mortgage. But if you’re wanting to qualify for the lowest rates, try to get your score within the ‘Very Good’ range (740 to 799).”
Working with a trusted lender’s the best way to get more information on how your credit score could factor into your home loan and the mortgage rate you’re able to get As FICO says:
“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 to determine your actual interest rates.”
If you’re looking for ways to improve your score, Experian highlights some things you may want to focus on:
YourPaymentHistory:Late payments can have a negative impact by dropping your score Focus on making payments on time and paying any existing late charges quickly
Your Debt Amount (relative to your credit limits): When it comes to your available credit amount, the less you’re using, the better. Focus on keeping this number as low as possible.
Credit Applications: If you’re looking to buy, don’t apply for other credit. When you apply for new credit, it could result in a hard inquiry on your credit that drops your score.
When you’re ready to start the homebuying process, a lender will be able to assess which range your score falls in and tell you more about the specifics for each loan type.
With affordability challenges today, prioritizing ways you can have a positive impact on your credit score could help you get a better mortgage rate.
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Home renovation and design website Houzz identified the latest home trends for summer based on its search insights
ROOFTOP LIVING:
People are increasingly utilizing their rooftops to expand livable space as well, particularly in metropolitan areas Searches for “outdoor rooftop terrace” shot up 1,555% “Rooftop deck” and “rooftop patio” grew by 90% and 40%, respectively
ACCESSIBLE BATHROOMS:
With many owners hoping to stay in their current home through their retirement years, searches for “aging-in-place bathrooms” and “handicapaccessible bathrooms” more than doubled compared with the same period in 2022 Features like “handheld shower head,” “ADA-compliant bathroom vanities,” and “curbless showers” all grew in prominence as well
INDUSTRIAL-STYLE KITCHENS:
Instead of the once-popular farmhouse style, there’s been a lot of interest in “industrial kitchens” and associated features, with searches tripling for “kitchen track lighting” and “pull-down kitchen faucets” and doubling for “stainless steel countertops” and “brick kitchen wall ” Interest is also emerging for “concrete countertops” and “copper kitchen backsplash ”
ENJOYABLE ENTERTAINING:
Beyond specific kitchen styles, searches for “walk-in kitchen pantry” jumped 27 times compared with the same period in 2022. “Large kitchen island with seating” also grew 187%, while “open concept kitchen to family room” increased 76%, suggesting owners want to engage with their guests as they prepare a meal.
STATEMENT CEILINGS:
Often an overlooked surface, design enthusiasts on Houzz are calling attention to ceilings with paint and texture Searches for “high-gloss ceiling,” “painted ceiling,” and “black ceiling” have all increased compared with the same period in 2022, and interest in “tongue-and-groove ceilings” grew 73%.
SMALL SUMMER FITS:
Homeowners aren’t letting space limitations keep them from enjoying the outdoors this summer Searches for “small screened-in porch ideas” are up 522%, while “small plunge pool” and “small pool house” jumped nearly four times and three times, respectively. Interest in “small outdoor kitchens” also more than doubled.
Learn how to grow a flourishing garden that lasts through the summer with these helpful tips from seasoned gardening pros.
We all start off gardening with gusto in the spring. But when the temperature rises in the summertime, we and our plants can both start to lose enthusiasm. But by following these tips from a panel of seasoned gardening pros, each with unique expertise, you’ll be able to grow and enjoy a flourishing garden all the way through fall.
Plant Sunflowers to Lure in Beneficial Insects
People plant sunflowers as a symbol of happiness and unity, but these plants also serve as guardians of the garden by attracting beneficial insects.
According to Jessica Walliser, author of Attracting Beneficial Bugs to Your Garden, sunflowers begin to produce nectar when they are as small as six inches tall. They continue to do so all the way through their bloom cycle. “Planting sunflowers within rows of vegetables is an effective way to attract more beneficials,” Walliser says.
They’re also a good companion for fruit trees since they attract many of the insects that damage fruit crops. “Plant rows of sunflowers between orchard rows or around individual trees to protect them,” Walliser says. “Just be sure to select a location where taller sunflowers won’t shade sun-loving crops.”
It’s important to keep up with weeding your garden so aggressive unwanted vegetation doesn’t take over.
Nancy Szerlag, garden columnist for The Detroit News, says the scuffle hoe is exactly right for the job It removes young weeds with a push-pull action that cuts at or just under the soil surface
Norman Winter, a Southern gardening expert and former coordinator for the Mississippi Medallion Award trial program, says anyone can grow produce. “Whether it’s in rural areas, historic districts or the newest neighborhood, the size of garden plots have grown smaller and more urbanized,” says Winter, AKA The Garden Guy. “This has led to a host of new, compact vegetable varieties that you can grow organically.”
Leavingplantsunwateredforevenalongweekendcan takeitstoll
Self-wateringcontainersfreeyoufromthatworry,so yourpetuniaswillbethelastthingonyourmindwhile yourfamilytakesthatselfieatthestatepark.
Self-watering pots are especially good for plants that grow better with consistent moisture and fertilizer like petunias, impatiens and hydrangeas
By early summer, hanging baskets can start to produce fewer flowers. High heat, too-dry soil, and lack of root space in the basket are a few reasons why this happens. Bump your original hanging basket up into a largersized basket The extra root space will allow your plants to grow to their full potential
Transplant your hanging basket into a larger upright container and set it in a more shaded part of your landscape. This is a good option if your plants are becoming stressed by the intense summer sun.
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