Page 16 August 23 , 2012 TORRANCE TRIBUNE Growing Families Looking Three ways to give energy for Larger Homes savings in your home (ARA) - More and more households have lifestyle. An adjustable rate mortgage can extended family living together under one allow you to save money if you’re able to roof, and the tight fit has some families in pay down your mortgage over a one-, five-, the market for a larger home. seven-, 10- or even 15-year period. Some From 2007 to 2009, there was a 10.5 lenders offer significant flexibility in the percent increase in multigenerational homes length of the loan and the frequency of rate that translates to 51 million Americans, or adjustments in their ARM products. For 16.7 percent of the population, who lived example, a 5/5 ARM has the interest rate in homes with at least two generations of which remains stable for five years and then adults, according to a recent report from readjusts once every five years after that. Pew Research Center. If your household Finding the right loan is important as even is growing and you’re looking for a larger a 1 percent interest rate reduction created by space to accommodate your needs and family taking out an adjustable rate mortgage may size, the housing market is in your favor. create sizable savings without necessarily Low prices and attractive interest rates have sacrificing security. created an opportunity for anyone looking to make a larger housing purchase. Refinancing your home As multi-generational living becomes more Payback financing options, or piggyback prevalent, builders and re-modelers have found options, allow for a second mortgage or home a niche market in creating homes designed to equity loan to be taken out by a borrower at fit the lifestyle. For the “Sandwich Generation,” the same time the first mortgage is started (ARA) – “Red means stop, green means you may find adding one makes you eligible a generation of people who are caring for or refinanced. Some banks may offer a go” – we learn that axiom as children. When for tax credits or incentives from your local, their aging parents while supporting their piggyback option but you might see a higher it comes to home energy costs, however, go- state or the federal governments. own children, there are advantages to having blended interest rate. Portfolio lenders, like ing green can help homeowners put a stop Make home a healthier place children and grandparents under one roof such TD Bank, can help minimize the down to runaway utility bills. And maximizing Every year, ill health costs the U.S. economy as sharing of household responsibilities and payment and interest rate. Portfolio lenders your home’s use of natural light – call it billions of dollars, experts say, and your own finances and increased focus on family time are able to do this because they don’t sell “green lighting” – is a great way to boost health woes can have a significant impact together. With these advantages, however, their loans to third-parties, resulting in more your home’s energy efficiency. on your pocketbook. The health benefits there may be a need for a larger home to affordable, flexible home financing options Here are three ways you can put Mother of natural light are well-documented, from accommodate a growing family. for a borrower. Nature to work, and use natural light to lower reducing the symptoms of Seasonal Affective A recent TD Bank survey found that of your energy costs: Disorder (SAD) and promoting the body’s respondents who were planning to sell their Qualifying for your loan Minimize use of artificial lighting production of Vitamin D, to improving mood current home and buy up, one-third attributed Qualifying for a jumbo mortgage does Anyone who’s ever paid an electrical bill and even learning ability. it to a larger or growing family. To finance require stronger credentials, so be prepared knows that the simple act of turning on a Simply opening blinds and curtains to a bigger home purchase, you can look to a for the process. Though the process can be light can directly impact your monthly ex- admit more natural light can directly affect jumbo mortgage. Jumbo mortgages are home more rigorous, some banks like TD Bank penses. Homeowners looking for a long-term the mood inside your home – not to mention loans that are bigger than normal. Normal treat jumbo mortgages as they treat other way to power down their lighting costs may the mental state of the people living in it. varies by location, but in most housing mortgage products, guaranteeing a decision consider Energy Star-qualified skylights a markets, it’s more than $417,000. on the loan in less than 24 hours. A quick good investment. While skylights’ cosmetic decision can help buyers close sooner or appeal can’t be argued, their value goes far Choosing the right fixed rate fit move faster when making an offer on the beyond good looks. Fixed rate mortgages are currently at property they are looking to buy. By admitting natural light into your home, historic lows. These loans provide comfort Overall, the residential mortgage landscape skylights can help reduce use of artificial and security though payments spanning 15 or is experiencing gradual improvements, with light sources – and help you save on elec- 30 years. If you’re planning to stay in your housing prices stabilizing and even improving tricity costs. Pair powered venting skylights home for a long period time, they may be in some markets. If you’re looking for a larger that come with automatic rain sensors with a good option. space to accommodate your growing family, efficiency-enhancing accessories like designer Adjustable rate mortgages for your consider beginning your home buying process blinds (available in a varied palette of colors lifestyle now. When looking into lenders, consider a and patterns), and you can improve energy If you’re not looking to own your home portfolio lender, who can offer flexible terms efficiency as much as 37 percent, for an extended period of time, an adjustable and lending guidelines, to best fit your unique Reduce hot water costs rate mortgage may be the best fit for your borrowing needs. • Long gone are the days when solar powering your home was an idealistic, but impractical Aurelio Mattucci dream. Solar technology is more useful, acces- “Amateurs hope. heating systems are becoming mainstream, (310)920-9233sible and cost-effective than ever. Solar water Professionals make it happen” and offer homeowners a great, green way Residential & Commercial ~ Garson Kanin to trim energy costs. What’s more, the cost Sales & Leasingof installing these systems has been steadily declining as the technology advances, and www.MATTUCCI.com Forecast Realty Inc. Family Team Stephanie Hart — Short Sale Specialist 100% Close Rate in the last 4 years Kevin Hart — Bank Owned Properties 40-60 closed/year Alannah Hart — Office Manager/Agent Brad Hart — Online Advertising Specialist/Agent Jeremy Hart — Network Marketing Specialist Roger Hart — Broker with 35 Years Experience 2420 W. Carson St. #120 Torrance, CA 90501 Roger Hart (left) with sons: Kevin; Jeremy and his wife Stephanie; and Bradley with his wife Alannah. The www.ForecastRealty.com Hart family has used its successful business to promote and preserve pride in the Torrance community 310/781-2000 through responsible real estate transactions and home ownership.
Torrance 8.23.12
To see the actual publication please follow the link above