Thursday, June 28, 2018
south wind increasing
Wednesday night: Rain. Low around 53. Light south wind increasing to 8 to 13 mph in the evening. Rep. Mark Meadows' effort to have Congress exempt student workers from part of President Barack Obama's Affordable Care Act to save universities money. Meadows, R Glenville, said Western Carolina University Chancellor David Belcher pitched the idea and UNC System President Tom Ross is backing it.
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slate flooring tiles First time home buyers accounted for 35 percent of sales reported in the 2016 Profile of Home Buyers and Sellers published by the National Association of Realtors.The publication reports an historic norm of 40 percent for the statistic, which reached an all time low of 32 percent in 2015 following three years of decline.Beverly Joiner, senior vice president for mortgage lending at Cross Keys Bank, said many of the first time home buyers she sees spend time as renters and see periodic increases in their monthly rent. Over time, the amount of rent paid can equal a house note that includes homeowners insurance.https://www.stonecountertopt.com/ As the rent goes up, they think 'I need to go ahead and buy something,' Joiner said.But what goes into buying a first home?According to Joiner and real estate professionals, preparation is key for the first time buyer. Credit must be assessed, any issues fixed and loan types reviewed.First stepsAl Peterson, president of the Northeast Louisiana Association of Realtors, said there are more than 100 moving parts to a home purchase, from the prequalification stage to move in, and a good Realtor helps the buyer navigate that process smoothly by determining what they need and want from a home and how to get there.Peterson said if they chose to consult with a Realtor first, the Realtor can direct them to a mortgage professional who will then send the buyer back when they are ready.The first thing new buyers often want to know is what their monthly payment will be, Joiner said.When they come in and fill outan application, she shows themwhat a monthly note would be for a home in a set price range using a specific form of financing.Joiner also explains ratios, including the debt to income ratio that helps determine the loan amount an individual borrower qualifies for.Photo illustration of houses shot on Tuesday, April 25, 2017 slate flooring tiles.
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