Top 10 Mortgage Tips

When getting a mortgage, you should do your research and know how to proceed wisely. For most inexperienced buyers, this is hard. However, if you can follow these top 10 mortgage tips for borrowers, you will land the best mortgage at the lowest APR.

1. Document

Above all else, when you want to borrow a large sum of money, you will want to document your finances. Then, when you have to head to the bank and speak with a lending representative, you can avoid any unnecessary delays in the process.

2. Lock In Early

With a mortgage, you will want to lock in rates quickly. Remember, the APR will fluctuate, and you will want to get in at the best time.

3. Shop Around; A Lot

Now, more than ever, the mortgage market is competitive and a buyer should take advantage of this by looking at plenty of options. Remember, you should not hurry; instead, you should find the best mortgage for your situation.

4. Look At Credit

Before getting a mortgage, you need to look at your credit. If it is in great shape and you have a score of over 750, you should not take action. On the other hand, if you have a low score, you should fix your credit and pay off old debts.

5. Keep Your Down Payment Small

If you have a lot of cash saved up, you should not put it all on the down payment. Think about it, when getting a house, you will need cash to make repairs and upgrades. Luckily, with a few grand in savings, you can pay for this easily.

6. Be Aware Of Rights

Now, a consumer enjoys plenty of protection when he or she takes out a mortgage. Of course, you should still read up on these laws.

7. Start Early

When you want to get a mortgage, you should start early. Otherwise, you may end up with problems when one delay after another occurs.

8. Look Local

Sometimes, you should head to your own bank and look for a loan. If you have a great relationship with them, you may get a low rate.

9. Really Think About It

Now, a home purchase is a big deal. To avoid overspending, you should sit on any big decision.

10. Do Not Fear

Without a doubt, getting a mortgage is not a scary process.

With these 10 tips, you can land the mortgage you want. Not only that, you will experience fewer problems when following these tips.

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The 5th Annual Vermont Restaurant Kicks Off April 25

Do you love going to different restaurants and trying a variety of foods? If so, then you will be happy to know that the 5th Annual Vermont Restaurant will kick off on April 25th. It will last until May 4th. Participating in Restaurant Week is very easy. All you have to do is choose from a list of participating restaurants, make an early reservation, ask for a menu special and share your adventure on Facebook.

When you are making your reservations, make sure that you tell the restaurant manager that you will be coming to Restaurant week. You will be able to enjoy dinner for $15, $25 or $35 per person. At some restaurants, you will be able to have lunch for less than $10 per person. Vermont Restaurant Week is on Facebook. Make sure that you talk about your experiences on Facebook. You can also talk about your experiences on Instagram and Twitter. Make sure that you use the hashtags #vtrw.

The Bobcat Café And Brewery is one of the many restaurants that is participating in the 5th Annual Vermont Restaurant Week. This restaurant serves farm-fresh comfort food. It also serves house-brewed beers. The Bobcat Café And Brewery is open seven days a week.

Black Sheep Bistro is also participating in the 5th Annual Vermont Restaurant Week. Every entrée at this restaurant is $19. Every entrée also comes with garlicky mashed potatoes and a cone of frites.

Silver Place is another one of the restaurants participating in Restaurant Week. It serves Chinese food with an American twist. It is open seven days per week, but lunch is not served on Sundays.

L’Amante Ristorante will most likely be visited by a lot of people during the 5th Annual Vermont Restaurant Week. It serves Italian food, but the menu changes on a regular basis. Squash blossom fritters with truffle oil and honey and potato-crusted seabass are some of the choices that people have on the menu. This restaurant is closed on Sundays and Mondays.

Additionally, you can eat at Juniper during Restaurant Week. This is a restaurant and cocktail lounge that is located inside of Hotel Vermont. The beverages and food are inspired by local, fresh products.

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New Rules for Home Loans: How Will They Affect You?

In January, 2014, new home mortgage lending rules aimed at strengthening protections for consumers went into effect in the United States. Created by the Consumer Financial Protection Bureau — a federal agency responsible for regulating financial protection for consumers — the new rules come in the wake of the banking crisis that left millions of Americans in foreclosure, underwater on their home loans or struggling to make payments that they were never financially qualified to make. The law tightens restrictions on the banking industry, spelling out clearly what constitutes a qualified mortgage and placing limits on the fees and terms of some home loans.

However, many lenders already have tightened their lending criteria significantly since 2012, so some of the restrictions will not come as much of a surprise. Borrowers who do not qualify for low-interest mortgage loans will still have the option of applying for a mortgage backed by the Federal Housing Authority; they will just pay more for the loan.

Some of the requirements of the new law seem glaringly obvious from a consumer’s point of view. For example, self-employed borrowers or those whose income includes regular overtime or commission income will have to provide proof of how much money they make. Just asserting that you make 20 percent more than your base pay in overtime every month will no longer work. Additionally, loans to borrowers with an income-to-debt ratio of more than 43 percent are limited.

Another restriction imposed by new law is the elimination of interest-only loans, which were popular right before the housing market collapsed and greatly contributed to thousands of foreclosures in parts of the United States. Consumers who relied on these loans to purchase homes later discovered that they could not meet the higher payments they faced when the interest-only period ended, causing them to default and lose their homes. Adjustable rate mortgages—another popular lending strategy used to help low-income borrowers qualify for a home loan — are still allowed. However, the borrower must be qualified to meet the highest possible payment within the first five years. In other words, you cannot qualify for an adjustable mortgage with very low initial payments that will increase substantially in two to three years unless you are in a position to pay those higher payments now. Further restrictions limit mortgage terms to no more than 30 years and the total cost of points and fees to 3 percent of the loan (for loans of $100,000 or more.) The law also prohibits lenders from providing financial incentives to loan officers for steering customers into high-interest loans or large loans that they cannot afford to repay.

In addition to lending guidelines, the new CFPB regulations contain stricter rules regarding the mortgage banking industry’s obligation to keep consumers informed about the status of their loans. Mortgage servicer’s must now send monthly statements, credit payments on the first day they are received and notify borrowers when their payments are 36 days past-due. Additionally, banks cannot begin foreclosure proceedings until at least 120 days after the last payment was received. Homeowners who file a completed application for assistance and are working with the bank to avoid foreclosure are also protected under the new law.

Undoubtedly, the mortgage banking industry’s response to the new regulations will be some initial belt-tightening, Nevertheless, according to Keith Gumbinger, spokesperson for the country’s largest publisher of consumer loan information, HSH.com, “…everybody has been preparing for the change for months.” The new law simply codifies much of what the industry already has put in place. What’s more, the protections it affords consumers…while they come too late for the many thousands of families who lost their homes…ensure that future home loan transactions are open, honest and above board.

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A Single Pebble Serves Up The Best Chinese Food In Burlington

Every community deserves to have a culinary experience. A Single Pebble in Burlington provides this experience with ease. With formally trained chefs and a truly committed and passionate staff, this restaurant provides the best individually cooked “made-to-order” Chinese cuisine available. The atmosphere is peaceful and serene, while the food makes the taste buds come alive. Burlington proudly offers this unique and delightful dining establishment for residents and visitors alike.

For lovers of Chinese cuisine, A Single Pebble offers Dim Sum tasting. This type of dining opportunity allows for the sampling of new and different cuisines that many diners may not ordinarily try. The chefs select a variety of dishes and they are presented to diners so that they may “pick and choose” what appeals to them. But the offering is completely at the discretion of the chefs, creating an exciting and interactive experience between the chefs and the diners.

Whether dining for lunch or dinner, you are in good hands with the knowledgeable staff and expert chefs at A Single Pebble. The menu offers a variety of dishes including chicken, beef, pork, and vegetarian options including vegetables and tofu. Perfect for intimate dining or an evening out with a group of friends, you can and will find your needs met beautifully. Reservations can be called-in, or made online, providing the most convenient method of reserving a table.

This truly remarkable Chinese food experience is truly one-of-a-kind, but it doesn’t end with the food. A Single Pebble also has a full bar, offering a great atmosphere and environment for relaxing and enjoying a great evening. Whether enjoying the evening after your meal, or having a glass of wine with your food, they are set to meet your expectations. Their wine list is quite extensive with prices by the glass, half bottle or full bottle. Whether your taste is for sparkling, white or red wine, you’ll find that their offering is remarkable.

So with a great reputation for it’s amazing atmosphere, superb made-to-order cuisine and extensive wine list, A Single Pebble offers the Burlington community with a crown jewel of dining. The staff at the restaurant are proud of the service and quality that they offer and it is evident by the remarkable word-of-mouth reputation that this establishment has received throughout the whole community.

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What Burlington Home Buyers Should Know About Mortgage Points

Buying a home in Burlington, Massachusetts can be exciting. Whether you are buying your first home or want to get into real estate investing, it is important for you to know how mortgage points function. When you are closing on a home, you will have the opportunity to pay for mortgage points. Burlington home buyers should know that they may be able to decrease their monthly mortgage payments by paying for points. This pre-paid interest has a significant impact on the monthly mortgage payments that you make for the rest of your life.

Reduction of Loan Interest Rates

Before you actually purchase a home in Burlington, you may want to try to save up as much money as possible to pay for numerous points. The more points you purchase, the lower your mortgage interest rate will be. Experts estimate that the purchase of one point typically reduces a mortgage by 0.125 percent. A point amounts to one percent of the total loan amount. If you plan on obtaining a mortgage for $100,000, then a point will equal $1,000. It will cost you $1,000 to purchase one point to reduce the interest rate of the mortgage.

Difference Between Mortgage Points and Loan Fees

You should also be aware that mortgage points differ from loan origination fees. Every loan requires the payment of certain fees for processing and administering the loan. These are known as “origination fees” and are paid at closing. The payment of origination fees does not result in a reduction of your loan interest rate. When you are purchasing a home and working with a Burlington lender, you can ask him or her to clarify the differences amongst all of the fees that you owe. He or she can also tell you whether the payment of a certain fee will result in an interest rate reduction for your mortgage.

Before you start shopping for a mortgage, you should also determine the amount that you can afford to pay for points. If you can afford to pay $50,000 for points, then you may be better off purchasing an inexpensive home that costs $150,000, rather than one costing $300,000, due to the fact that your monthly payments will be much lower.

Comparing Mortgage Rates

A lender can help you compare all of your mortgage options. By speaking with a lender, you can learn about the differences amongst mortgages. A lender can also help you choose a mortgage that may work best for your financial situation. Lenders can help you assess the impact of points on your home purchase and if it is right for you.

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Burlington’s Annual Kids Day Celebration Takes Place 05/10/14

The family friendly town of Burlington will be holding its annual Kids Day celebration on May 10th this year. Sponsored by Burlington Parks and Recreation, it is the largest children’s celebration in the entire state of Vermont and Burlington has been celebrating this event for 29 years!

The celebration, which is held from 10:00 am-3:00 pm is always a much anticipated event for families in the area. It is held at the beautiful Battery Park. There is no charge for Kids Day and smoking and pets are prohibited. This day is all for the kids!

Kids Day is full of activities and entertainment that the whole family will enjoy. Some of the highlights are:

Parade

Burlington’s Kids Day parade is one of the best and biggest in the area! Starting on Main Street at Edmunds School at 9:30, the parade winds through the local streets to showcase its many participants. Members of the community are welcome to submit an application to join in on the parade fun.

Entertainment

From 11:00-3:00, attendees young and old can enjoy a concert provided by Young Tradition.

At 4:00 at the Leddy Park arena, visitors can watch ice skaters from several local clubs show off their talents on the ice.

Fun Run

At 9:30 at the Edmunds School on Main Street, the Burlington Kids Day “Champ on Church” Fun Run will begin. This mile long run is open to kids ages 4 to 12.

Exhibits

There are many exhibits and informational booths at the Kids Day celebration. Some highlights are:

• Face Painting


• Costume Photos


• Craft Making


• USTA Tennis


• Art Show


• Meet Miss Vermont National Teenager


• Giant Bubbles

Burlington’s Kids Day celebration is all about the kids and the day’s activities are all geared to be just for kids. All children of all abilities are welcomed and encouraged to attend. The celebration usually hosts up to 5000 people! For more information about Kids Day, please call (802)864-0123.

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Credit Card Myths Uncovered

Advice can be helpful in many cases, but following misguided or erroneous advice, even when well-intended, can have a devastating impact. The same is true of advice on bolstering your credit score. Unfortunately, there is a variety of mistaken credit advice floating around that can actually make yours worse. Here are some common myths that you should disregard when trying to get a better credit score.

Inquiries Hurt

Too many inquiries can cause your score to fall slightly, but the idea that score inquiries hurt is overblown. Indeed, with many scoring types, inquiries made within a certain period are actually considered to be a single one. There are good reasons for this. Say you want to buy a car. The dealer will often look to several banks for financing, and it would be wrong for you to be penalized for it. Furthermore, if you have a credit account, the company will regularly review your credit status. This method, called a “soft pull”, doesn’t affect your score. Another example of a “soft pull” is inquiring about your own credit score, so don’t be afraid to check.

Debt = Good Score

This claim is patently untrue. If you have more debt than credit, your overall credit score will take a big hit. Your repayment habits also impact this. Repaying the full balance every month doesn’t help. It’s much more important to make regular payments on time. In fact, just by being dutiful with your payment schedule, you can achieve an excellent score with minimal or no debt.

Debit Doesn’t Impact Credit

Debit card activity isn’t turned over to credit companies, but using one does have an effect. If your bank account is protected from overdrafts by a line of credit, it can have either a positive or negative impact. If you don’t make any payments on the loan, or if you max it out, your score will suffer. However, if you use this carefully, it can improve your credit standing. You should also carefully look over your account details regularly. It’s common for people to be unaware that they’ve gone above their line of credit.

Co-Signing Doesn’t Matter

When you sign onto another person’s loan and it’s significant enough to upset your income to debt balance, your credit is circling the drain. This can cause you to be denied for any future loans you may need. The lending company might accept a note claiming that you’re not paying on the loan, or they might not. Either way, you’ll still be considered responsible for whatever you sign your name on.

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Fun Family Spring Break Activities

With cold weather lifting and warm weather on the horizon, families are preparing for an exciting spring break. Instead of being surprised with bored faces on the first vacation day, plan your entire week with fun ideas that explore your neighborhood or just entertain you at home. Any budget works with simple ideas that are just plain fun for kids and adults.

Expand Your Mind

Keep everyone’s minds busy with enhancement activities over spring break. Visit a local museum you were meaning to see, from natural history to art. If you plan ahead of time, you could take advantage of free or discounted days, depending on the institution. Take a look at your community events. Many cities offer week-long art classes for kids, or even exercise classes for the entire family. Trying something new allows everyone to find a potential hobby that they may like to pursue in the future.

Road Trip

Take a road trip to a destination 100 miles away, for example. Many botanical gardens and fields are in bloom during spring break. Take a look at the flowers and plants. Afterward, eat at a local restaurant that locals enjoy. Take in a parade or other outdoor event as well. With spring break overlapping in many communities, there may be several events celebrating spring’s arrival.

Game Day

Rainy days do occur over spring break, but you can battle any boredom with game day. Set up several board games, and create a friendly competition amongst family and friends. Teach kids the art of chess, Parcheesi or Chinese checkers for a throwback to older game days. If you prefer video games, try a singing or band game that brings everyone together. Dancing games are perfect as well. The key is to have everyone involved for the most fun.

Get Close To Nature

You may be cooped up inside with work and school on most days, but spring break allows you to explore your neighborhood. Go outside and explore local mountains, beaches or parks. Walk out on a pier to watch the surfers and waves. Hike up into the mountains for a unique experience with nature. Because most of these activities are free, you save money while gaining a new view of the world.

Keep everyone mentally and physically active this spring break. By mixing different activities over several days, both kids and adults will be pleasantly surprised at how fast the week flies by.

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Spring Holidays And Traditions Around The World

From time immemorial, the Spring season has been a time of celebration as people, animals and plants emerge from our winter dens to enjoy the warming sun and relish in the signs of birth and renewal all around us. There’s no better time for a party, and you can find one just about anywhere you go around the globe!

Many spring-time traditions have roots centered around the Spring Equinox, which kicks off the season in March. The Iranian New Year (No-Ruz) occurs at this time with parties that include dancing, picnics and spring flower displays. It’s also a great time to find deals in the Iranian markets, as the traditions include buying new clothes to celebrate this season of hope and re-birth. In addition to the festivities however, you’ll also notice people giving their homes a good cleaning and making repairs.

Like the well-known Mardi Gras celebrations, the Russian folk festival Maslenitsa is observed just before the Lenten season. There is a great amount of traditional food, dancing and general revelry, including the burning of an effigy of the Lady of Maslenitsa. As the festivities come to a close, leftover goodies are also thrown into the fire. Once it has burned out, the ashes are spread in local fields to fertilize the new year of crops.

In mid-April, Thailand celebrates the Buddhist New Year with a water festival, Songkran. Festival-goers should count on getting wet! In the larger cities, traditions include grand parades, often with statues of Buddha that spray water on the spectators. In smaller villages, youngsters celebrate by throwing water on each other. It is also a tradition to release fish into rivers to show kindness and respect for other living beings.

In England, you can participate in traditional May Day celebrations, including Maypole dances. A tall pole is decorated with ribbons in all the colors of a rainbow. As children dance around the pole, they weave the ribbons tightly around it. Of course, music and food are also a part of England’s celebration of the return of Spring!

Wherever you travel during the Spring season, you’re sure to find a party with unique, local traditions. Perhaps you’ll discover one to make a new tradition for your own family!

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Make Your House a Home – Top 10 Feng Shui Tips

Feng Shui is an ancient Chinese art designed to balance the energy in a space while making it more inviting and cohesive. Here are a few suggestions to enhance your home and inspire you as well.

1. Clean Up Your Clutter

One of the most important Feng Shui principles is to clear away any unnecessary clutter. Feng Shui states that we are energetically connected to everything we possess. Having too many unnecessary things in your space literally drains your energy. Go through your entire home and remove anything you no longer love or use.

2. Rearrange Your Furniture

Your furniture should be placed where you can see who’s entering the room. Ideally, you should never walk into a room and see the back of someone sitting in a chair or sofa. This creates a feeling of disempowerment and unease.

3. Make the Entryway to Your Home Inviting

The entryway to your home is considered the portal where all opportunity can enter. It should make you and everyone else inspired and eager to enter. Implement special touches like colorful pots of flowers, a clean doormat, and a fresh coat of paint on your front door. Your home’s entryway is the first impression your visitors will get and says a lot about you and the home you live in.

3. Care for Your Home

Fix or replace anything in your home that is broken, rotting, or cracked. How you care for your home reflects how you care for yourself.

4. Color Affects Everything

Color affects us on both a conscious and subconscious level. Look at the colors in your home. Do they make you feel safe, nurtured, and inspired? Color is a key element in affecting our everyday mood.

5. Room Function

Make sure every room in your house is conducive to its function. For example, it doesn’t make sense to put exercise equipment in a bedroom where you rest and sleep.

6. Create a Friendly Atmosphere

Sharp-edged furniture sends the message your home is unsafe. Remove other unfriendly items like kitchen knife racks or spiky pot hooks as well. Every element in your home should feel comfortable and secure.

7. Create Flow

The path meandering through your home should flow easily. Do not place furniture where it will obstruct a path. Lack of movement inside your home may indicate a lack of movement regarding your career, relationships, and health.

8. Forget Trends

Remove anything in your space you feel obligated to keep. Forget popular trends and only surround yourself with things that inspire you.

9. Little Things Mean A Lot

Little things like keeping the toilet seat down or replacing the handle on a drawer may not seem like much, but they actually convey a sense of order and mindfulness. Keeping things in order equates to a peaceful existence.

10. Invite Mother Nature into Your Home

What is it about nature that makes us feel one with the world? Nature essentially realigns our energy field with the rest of the Universe and makes us feel whole.

Once you understand the primary principles of Feng Shui and incorporate them, you’ll begin to notice a shift in the way you feel. It’s called peace and happiness.

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