Jay Falone's Blog
Property buyers today may think of a credit union as an alternative form of lending and ultimately meant for people who don't fit the stereotypical borrower. But this assumption may a little unfair once you learn the facts. Credit unions present several unique opportunities that you simply won't find anywhere else. We'll give you both the good and bad, so you can make a better decision.
A Non-Profit Oasis
As a non-profit institution, credit unions tend to have better rates than traditional banks. Plus, they're a little more personal than a regular bank in that they're investing in a single community as opposed to the whole country. So while you may not get the level of sophistication you would from a well-known bank, you will get the kind of personalized service that's hard to find today.
Before you finance a property, you first need to qualify for your credit union. This essentially means proving you're connected to the credit union somehow. Often, it's based on where you live, but you may be able to join based on anything from your employer to your church to your family members. Before you dismiss your eligibility, talk to a credit union officer to see if there's a connection.
Once you qualify for the institution, you'll need to become an official member. To do this, credit unions typically have its customers purchase shares in the organization. (These fees are generally affordable and they're the key to securing your membership.
The practical advantages of a credit union mortgage are the flexible terms and requirements as well as the reasonable fees and rates. Plus, the credit union staff tend to take into account the relationship you've built with them. So while a national bank will encourage you to apply for a mortgage through the company, the fees may not change significantly from those of a stranger — regardless of your track record with the bank.
Why Skip the Credit Union
There are a few reasons not to finance with a credit union. For one, a credit union isn't going to have as many products as a bank would, which could inevitably cause you to miss out on a worthwhile opportunity. It's also likely to be a more traditional style of banking, meaning you may not have options for online banking. And as with a regular bank, a credit union may change leadership, which can, in turn, change the terms of your mortgage for the worse.
Regardless of where you finance, it's probably worth discussing your options with a credit union. As you shop around, you'll get a better sense of which products and terms are right for you.
18 Boudreau Ave, Marlborough, MA 01752
Buying a home will likely be the most important and expensive purchase you ever make. And, although that might seem like a scary commitment, it’s one well worth it. It’s an investment in your future. There are many benefits or perks that come with owning a home.
Equity: Owning your own home typically comes with gaining equity. Every month that you pay your mortgage, you are increasing your equity. And as long as the market continue upwards, your home and the equity you’ve gained will hold significant value.
Privacy: Privacy is a large perk of owning your own home. This is more so possible when owning a single-family home in a rural location, but many duplexes and condos also provide opportunities for privacy. And in many cases, since you own the home,you can put up your own privacy such as planting arborvitae trees along your properties edge.
Tax Advantages: One of the biggest perks when owning a home is the ability to deduct mortgage interest on your federal income taxes. This will be a significant amount for the first few years of your mortgage, making this a huge benefit. Although, the amount of interest paid decreases over the years, there will still be deductible interest paid in the last few years of your mortgage.
Space: Houses will almost always provide you with more space than an apartment—and it will certainly have more space than your childhood bedroom. The space will be all yours, which means not having to share with other renters or your parents. Of course, home location and the market come into play here, but for the most part you will get more square footage for your money—as landlords charge high rents to cover things like water, electricity, snow removal, or still charge high rent prices and do not cover any of those other expenses.
No restrictions: There are many restrictions that come with renting or living in a condominium. These restrictions could include no pets, parking restrictions, outdoor updating restrictions and many other different types of constraints. When you own your own home, you make the rules. If you want to put up a fence, you can. And if you want to put an addition on your house, you can do that too. Just be sure to check with your town before beginning any construction projects.
Establishment: Buying a home provides you the ability to set down roots, to be established. Although, not a benefit to some, it is to many. Buying a home provides you with ownership and a sense of freedom. You now have the opportunity to invest in something that is yours. You can make updates to the bathrooms, add a pool in the backyard, and paint the front door any color you want—because it’s yours.
A home is often the foundation of one’s life and who can deny its appeal with these perks discussed above? So, what are you waiting for? Start your search today!
Although there are plenty of interior design styles to choose from, going with a timeless look is always an excellent choice. Timeless designs mean you don’t have to worry about keeping up with the latest interior design trends or having your home look dated. With a classic or timeless style, you don’t need to keep changing your home’s interior design. If you’re considering this type of style for your home, keep the following tips in mind.
Choose Classic Prints and Patterns
You don’t have to avoid choosing prints or patterns when you’re aiming for a timeless design. Certain patterns and prints don’t go out of style, such as botanical prints or damask patterns. You can use these in various rooms throughout your home for a classic look, such as with wallpaper, area rugs, upholstery, throw pillows and other decor items. When it comes to choosing patterns or prints, avoid ones that are trendy or likely to go out of style, such as bold geometric patterns.
Go For Furniture with Clean Lines
While you might associate clean lines with modern design, this streamlined look creates a timeless style in your home that lasts over the years. Choose sofas and other furniture with simple lines rather than furniture with a highly ornate or decorative look that could go out of style. You should also select furniture with a traditional shape instead of furniture with a more unusual shape, since these are usually trendy items. When you choose timeless furniture, keep in mind that you won’t need to worry about replacing it often as you would with trendier furniture. This is also an advantage if you’ll be putting your home on the market soon, since traditional, simple designs tend to make rooms look more appealing to buyers.
Select Neutral Colors
Bright or bold colors come and go as trends in interior design change from year to year. If you cover your walls or choose furniture with trendy tones, your home can end up looking dated sooner than you think. To avoid this and create a classic look, choose neutral colors for your furniture and walls, since these are the main areas of color in rooms throughout your home. White, beige, gray and other neutral colors can keep your entire home looking timeless. Keep in mind that you can add touches of color with vases, throw pillows, artwork and other accent pieces. You can easily change these items from time to time to create a slightly different look.
Combine Old and New Design Elements
Creating a timeless look in your home doesn’t have to mean using strictly classic or traditional design elements. Combining elements of vintage and modern design can also help you achieve a look that isn’t tied to one decade or era. For example, you might place antique items as decor in a room with a more modern, minimalist design or more contemporary furniture. Putting old and new design elements together in one room can give your home an ageless look and feel.
Natural materials are another design element that doesn’t go out of style. Fill your home with natural elements, such as stone or wood fixtures and decor items, for a classic look. Houseplants and other greenery can also add to this timeless appearance.