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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.
Kim was very helpful in every aspect of helping us sell our lake place. She is very friendly and was willing to listen to our ideas. Kim would always be on time when showing us properties. I would recommend her to any future clients.Brian - bought property in Jan 2019
We have been searching for a lake home for 2 years. It was not until I hooked up with this company that I found our dream lake property. Jared knew what we wanted after we spoke. It was the second house we looked at with him and we were sold. With him and his outstanding office manger Rhonda you cannot go wrong using this company.
Ronnie Law - Bought property in 2019
As personal representative of my late mother's estate, I had to sell 3 large parcels of vacant land (including lake shore property) in Aitkin County MN. The transactions also involved a 'lot line adjustment' with the county planning and zoning office. Because I live in Illinois, we had to work together remotely for the entire process. Jared and his team (especially Rhonda) were exceptional in knowing and working with the county officials. They were also great in coordination with the surveyors. They know the market well, and after providing a market analysis, we selected a price point that generated significant interest in the first week on the market, attracting multiple offers which allowed us to negotiate a very competitive deal for the estate. I would recommend Jared and his team to anyone who is interested in buying or selling property in the greater Aitkin areaGrant Benjamin - Sold property in 2018
We are very satisfied with the timely fashion in which Kim helped us to sell our home. Kim is a great listener who is concerned about all of our needs, wants, and desires. She worked hard to be personal with us in a professional manner. She helped us to understand and navigate throughout the entire process. She was attentive and quick to respond to our questions searching for the best answers. She also knows how to handle multiple offers to get you the best deal. We highly recommend her services!Thorsoncrew - bought a home is May 2019
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:email@example.com 612.636.2151 or 218.429.0202. We are your local RE/MAX real estate experts.