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Posted on February 18, 2018 - 05:54 PM
by RE/MAX Northland
Six tips when considering a HELOC for Home Renovations
Homeowners looking to undertake home renovations can often use a home equity line of credit or HELOC to finance their projects. Here are six quick tips on how to shop for and manage a HELOC:
Shop around. Comparison shop to get the best rate.
Ask about the margin. If you're offered a rate that's lower than the competition, it's probably just an introductory rate, so ask about the lender's margin. For example, if the introductory rate is 3.5 percent and your lender's margin is 2 percent, your final interest rate will be 5.5 percent.
Consider a conversion clause. Some HELOCs allow you to convert a variable interest rate to a fixed rate, usually during the draw period (5-10 years).
Watch out for balloon payments. Balloon payments mean that you must pay the balance in full when the draw period is up. Do not choose this option unless you have the financial means to handle it.
Create a family plan. Decide what the money will be used for and who will handle the funds. Keep in mind, you can lose your home if the HELOC is not handled properly. Create a payback plan. Come up with a reasonable plan for how the loan will be paid back.
Can You Really Grow a Winter Garden in the Kitchen? By John Voket
Now that winter weather has descended on much of the country, there are still loads of things a homeowner can grow to keep the freshest of ingredients available for winter culinary adventures.
Tammi Hartung at birdsandblooms.comoffers a step-by-step guide to establishing a year-round indoor garden that can supply the freshest of ingredients from a tiny space. She advises you to look around your house and choose your best location - and don’t limit yourself to the kitchen.
Basil, chives, mints and parsley are just a few that do very nicely in pots with bright indirect light. It might surprise you to know you don’t need direct sunlight for growing most herbs; the indirect light most of us get will work fine.
East-, south- and west-facing windows should all give your herbs enough light, especially if you set up a small table or use a counter that keeps plants about a foot away from window glass.
Tricia Drevets at offthegridnews.com says start with a few basics, such as oregano, thyme, parsley, basil and rosemary. Then add a few others that your family particularly enjoys in their favorite meals. Cilantro? Dill? Chives?
She advises to check your garden center for high-quality seeds or for healthy and vigorous-looking starter plants. Or maybe find a selection of starter plants in your grocery store’s produce section as well.
Drevets says if your herb garden is in your kitchen, the plants should get some additional humidity from your use of the sink or dishwasher. If not, lightly mist them with a water spray bottle.
After retiring from the Marine Corps, my wife and I wanted to move back to my home town but we lived in OH and didn’t have much time house hunt. Jared and the REMAX team did an excellent job helping us find the perfect home for my family!July 2017 Jason and his wife bought a home in Aitkin
Jared is truly the best!! He works to get you exactly what you want. Very smart and responds fast. Not only that but he is a very heartfelt guy. I Couldn't have asked for a better person to sell me my first home. We are so happy!December 2017 - Rylee Wagner
Mary and I just want to thank you again for all of the help finding the right cabin. I know we were very picky trying to find the right one.
Your knowledge of the area really helped us lock in about 3-4 lakes. Also, thanks for the gift of knifes, we plan on leaving them at the cabin and will think of you each time we use them.
Like Mary said we would like to take you and your wife out next spring.
Have a safe and Happy Thanksgiving.
Oct 2017 - Paul & Mary bought a cabin in Aitkin
Jared and team are great to work with! The objective of having a good realtor is to get the home sold for the most money and in the shortest time possible, they did a great job !!August 2017 - Heidi Johnson (Google review)
If you or someone you know is thinking of buying or selling a home in Aitkin or Brainerd Lakes area, contact us today to set up a consultation! Contact:firstname.lastname@example.org 612.636.2151 or 218.429.0202. We are your local RE/MAX real estate experts.