Certified Residential Mortgage Specialist
Deb Killian, CRMS & Don DeRespinis
May 2019
Real
Serving Connecticut Residents since 1995


6 Ways to Update the Look of Your Bathroom Without Doing a Full Reno
The average cost of a midrange bathroom renovation is more than $20,000. If you kick that up to the "upscale” level, it’s almost $65,000. Yikes! Luckily, there are lots of little changes you can make in the bathroom to make it feel new again—or at least less old. They range in price from the cost of a family outing to the movies (with popcorn), to the cost of a couple of airline tickets to Hawaii (during a really good sale).
      Go frameless It’s not cheap to convert an outdated shower to something more updated. Frameless glass will give you the sleek look you want, but be prepared to spend a good thousand bucks for the glass
Mortgage Rates
U.S. averages as of May 2019:


30 yr. fixed: 4.2%
15 yr. fixed: 3.64%
5/1 yr. adj: 3.77%






installation.
      But add frames here Frames around your mirrors give the space a more finished look. Companies like Mirrormate
World Class Customer Service!

Certified Residential Mortgage Specialist




How Lenders Evaluate the Self-Employed Borrower
     One of the primary factors when issuing a loan approval is to make sure the borrowers can afford the new mortgage payment along with other monthly credit obligations. This is accomplished by comparing monthly payments with monthly income.
      For someone who receives a pay check on the 1st and 15th it’s relatively easy to figure out how much money someone makes. But for those who are self-employed and make money when their clients pay their bills, it’s not so easy. Lenders do have a method to properly calculate qualifying monthly income for the self-employed, they just take a few extra steps.
      These borrowers must show proof they’ve been self-employed for at least two years. For those who receive a



Top Tips to Make Your Offer Stick
     It’s that time again, when the Spring real estate market starts to get hot (or gets even hotter, depending on how steamy your particular corner of the world is). Multiple-offer situations and selling prices that soar over asking prices are great for sellers, not so much for buyers.
      If you’re looking for an edge to ensure you get the home you want, we have some tips.
      Work with the right real estate agent You can’t underestimate the experience and skills of a quality real estate agent. Not only will a great agent be able to guide you toward the best properties for you, but also may be able to use their network to identify homes that aren’t even on the market yet or to work closely with an agent to get your offer accepted.
      Make sure your offer is first Some sellers will hold off on accepting an offer to see if they get more offers. There

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How Much Money Do You Need to Buy a Home?
     Okay, more specifically, how much money do you need to qualify for a mortgage? There are different factors involved because there are so many different types of loans available. Even the very same loan program might require more or less cash to close depending upon someone’s personal situation. But this is indeed a very legitimate question and the one most often asked by home buyers.
      Your first stop is talking with your loan officer to find out which loan program best suits your needs and qualifications. For instance, if you’re eligible for a VA loan and you want to come to the closing table with as little cash as possible, the VA loan is likely your best choice. There’s no down payment required for a VA loan (although you can make one if you want) and the veteran is restricted from paying certain types of closing costs. If you’re looking at a higher end home and need jumbo financing, you may be asked to make a down payment of at least 20-25% of the sales price of the home.
      Your loan officer will provide the proper loan options and both of you will decide on which loan works best for


  Daily News and Advice

Read about the events shaping the Real Estate market today, find current interest rates, or browse the extensive library of advice and how-to articles written by some of the top experts in Real Estate. Updated each weekday.
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Deb Killian, CRMS & Don DeRespinis ,CPA, MLO # 7657,MLO # 81076
E-mail: debkillian@snet.net
Website: http://CharterOakCT.com
203-778-9999 Ext. 301
d/b/a Danbury Mortgage
Charter Oak Lending Group LLC NMLS # 7748
203-778-9999 Ext.301
5 Plantation Court,
Bethel, CT 06801


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