3 Ways Kids Can Help Move
Moving into a new home can be a huge transition for anyone, especially children. And while you can’t do much about combining your job and your pets into the move, your children most certainly can give you a helping hand! It’s a great way for your kids to learn to pitch in with responsibilities and what better way than to help with such an “adult” task. So instead of getting them distracted by watching TV, show them how to stay productive.
Check out these 3 ways kids can help move:House Hunting
Kids and house hunting, is it possible? Oh yes, it is! Honestly, it’s important to get your kids involved in the search for a house. Taking your kids with you will help them get excited for the move and help you by providing some input on the house. By getting them involved, you’ll learn some important insight and what they consider to be a perfect home for all of you.
Of course, don’t drag them to every house since it can be tiring. Wait until you narrowed down your options before bringing your kids with you. That way, they will feel included in the process. Having those extra eyes for evaluating what you find would be worth it!
Getting rid of Stuff
When packing, one of the important things you would want to do is bring less items to your new home. Toys are one of things you would want to consider getting rid of! This is a great opportunity for the kids to understand the importance of giving back - after all you don’t want unnecessary toys to overflow when packing. Give them an empty box and tell them to fill it up with things they don’t need anymore. So, whenever they are ready, you can go together to drop them off at a donation site.Unpacking Assistance
The moment you finally arrive at your new home, you turn the key and open the front door. You might feel relieved until you realize everything you own needs to be unpacked. Moving is a big transition, and it can be very overwhelming. Get your kids involved by allowing them to be in charge of unpacking things in their own room such as their clothes or putting books on their bookshelf. Items that are easy for them to carry. It’s a great way to include them by making them feel like they are in control of their space. Having the kids help you with this “adult” task can make life a little easier! There’s plenty to be excited about when you move into a new house.
Thinking about buying a house? You don’t want to miss out finding the right house to call your home sweet home! Give us a call or send us an email! We look forward to hearing from you!
What is an FHA Loan?
Buying a home is exciting, however, figuring out the right home loan can be stressful. Home loans, called mortgages, come in numerous types. Choosing the right mortgage loan is very important, after all it is a major purchase in your life. To have a better idea of what loan works best for your needs, let’s dive into the FHA loan program.
The Federal Housing Administration (FHA) mortgage offers down payments as low as 3.5 percent.
The credit score and down payment amounts are just two requirements of FHA loans. You can qualify with a credit score as low as 500 with a 10% down payment unlike many conventional loans. Just keep in mind that the lower the credit score the higher the interest rate the borrowers will receive.
Majority of first-time home buyers don’t realize that the down payment can be obtained from a financial gift.
FHA lets borrower’s spend up to 57 percent of their income on monthly debt obligation, this includes credit cards, student loans, car loans, and mortgages. On the other hand, conventional mortgage guidelines tend to cap debt-to-income ratios at around 43 percent.
FHA offers several other loans programs, including:
- Home Equity Conversion Mortgage
- FHA 203k improvement loan
- FHA’s Energy Efficient Mortgage Program
- Section 245 (a) Loan
What was the purpose of the FHA?
Congress decided to create the Federal Housing Administration in 1934 which was amid the Great Depression. During that time, the housing industry was in crisis. There was an increase of foreclosure, loans were limited to 50% of a property’s market value. The government created these loans to stimulate the housing market and reduce lender risk which made it easier for borrowers to apply for home loans. This has helped the homeownership rate to increase overtime.
While an FHA loan may sound great, you’ll want to make sure this type of mortgage is right for you.
If you want a full team of mortgage professionals to help with your decision on what is the best loan options for you, we’re happy to help. To learn more about an FHA loan, please don’t hesitate to reach out to us, we look forward to hearing from you!