Your REALTOR®:
Kevin Kleifges
October 2021
Real
Helping people find their Dream Homes


5 Things You Need to Know About Your Paycheck Stub
When lenders verify and validate information included in your mortgage loan application, with all due respect, they don’t simply take your word for it. While you may enter your monthly income on the application, they will use that amount initially to preapprove you but will eventually contact your employer directly to verify what you make each month. Part of that process also asks you to provide them with copies of your most recent paycheck stubs covering a 30 day period. In this way, lenders verify your monthly income used for a final approval. But your monthly income is only part of the validation process.
      The first of course is to look at the monthly gross pay for each month. If
Mortgage Rates
U.S. averages as of October 2021:


30 yr. fixed: 3.01%
15 yr. fixed: 2.28%
5/1 yr. adj: 2.48%






If you get paid on the 1st and 15th, lenders add those amounts together for use in qualifying. Note, this is the gross or ‘before withholding’ amount. If you get paid every other week,
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7 Signs It’s Time to Downsize
     Downsizing a home is almost inevitable for many older people. Once your children are out of the house, you don’t need and probably don’t want as much space as you once had. Downsizing can be smart financially and give you a new lease on life, but it can also be an emotional decision to leave your home behind.
      The following are seven signs that it might be time to consider downsizing, even if you’re a bit hesitant.
      1.) Your Neighborhood No Longer Suits Your Lifestyle The location of your home can be as important to your lifestyle as the features of the house itself. When you bought your home, maybe your neighborhood was filled with young children or was close to the best



Pulling Off Granny Chic Décor Style
     Granny chic décor style isn’t necessarily new, but it does remain incredibly popular right now. You probably never thought you’d be trying to make your house look like your grandma’s, but here we are. Sometimes also called grandmillennial, what this style is all about is combining old and new.
      It’s sometimes a tricky design style because it can be too overdone or not done enough.
      The following are some tips and things to know about this particular style of décor and interior design.
      The Core Features When you want a grandmillennial or granny chic home, think about that unique juxtaposition that can happen between old and new.
      Some of the things to remember are patterns, light, texture, and memories. That might mean stacks of old books, family photos or vacation photos in mismatched frames, or floral prints on the

Buying a Home Right Now: Easy? No. Smart? Yes.

Through all the volatility in the economy right now, some have put their search for a home on hold, yet others have not. According to ShowingTime, the real estate industry’s leading showing management technology provider, buyers have started to reappear over the last several weeks. In the latest report, they revealed:

“The March ShowingTime Showing Index® recorded the first nationwide drop in showing traffic in eight months as communities responded to COVID-19. Early April data show signs of an upswing, however.”

Why would people be setting appointments to look at prospective homes when the process of purchasing a home has become more difficult with shelter-in-place orders throughout the country?

Here are three reasons for this uptick in activity:

1. Some people need to move. Whether because of a death in the family, a new birth, divorce, financial hardship, or a job transfer, some families need to make a move as quickly as possible.

2. Real estate agents across the country have become very innovative, utilizing technology that allows purchasers to virtually:

  • View homes
  • Meet with mortgage professionals
  • Consult with their agent throughout the process

All of this can happen within the required safety protocols, so real estate professionals are continuing to help families make important moves.

3. Buyers understand that mortgage rates are a key component when determining their monthly mortgage payments.

Mortgage interest rates are very close to all-time lows and afford today’s purchaser the opportunity to save tens of thousands of dollars over the lifetime of the loan.

Looking closely at the third reason, we can see that there’s a big difference between purchasing a house last year and purchasing one now   

Rates today on average are 3.33% versus 3.94% one year ago.  On a 200K loan, you will save $25,000 over the life of the loan! 50K on a 400K loan not to mention the lower monthly payments!

Bottom Line

Many families have decided not to postpone their plans to purchase a home, even in these difficult times.

If you need to make a move, reach out to me today at 703-346-3783. I am a trusted and experienced real estate advisor that will safely and professionally guide you through the process

 



  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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Earnest Money vs. Down Payment: How Do They Compare?


Kevin Kleifges, REALTOR
E-mail: kkleifges@gmail.com
Website: http://www.KevinsProperties.com
703-346-3783
Coldwell Banker
703-346-3783
1900 Baton Drive
Vienna VA 22182


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