Green Technology To Reduce Your Home’s Carbon Footprint
When you are a homeowner looking to reduce your carbon footprint, there are a number of steps you can take to make your home earth-friendly. From passive solar heating to solar panels, you can make a difference in the impact your home has on the environment.
Even when you aren’t building a new home, changes can be made to an existing property to increase efficiency and reduce reliance on utility systems.
Invest In Solar Power
Solar panels are one of the most popular ways to reduce your carbon footprint, and with good reason. Solar panels often produce enough electricity so that you have energy to sell back to the energy grid every month. Over time, solar panels on your property can earn you money instead of costing money in utility bills.
Consider Passive Solar Designs
Passive solar is heating your home with the sun by using the right design. For example, certain materials such as slate holds heat. If you have a room that gets plenty of sunlight during the day, a slate floor can help keep the room warmer once the sun sets. If the floor is made from a material that dissipates heat, such as ceramic tile, your home won’t benefit from the sun once it sets.
Radiant Floor Heating Saves On Energy Costs
Heat rises, and those that invest in radiant floor heating find that it is easier to heat up a room. Radiant floor heating uses coils below the surface of your floor, creating heat. The heat rises into the room instead of getting blown in through a heating vent. This reduces the amount of energy you need to heat your home.
Invest In Energy Efficient Appliances
Every appliance that you use in your home has an impact. Consider investing in energy efficient appliances when you are trying to make your home more earth friendly. You will save money on utility costs and help the environment at the same time.
Consider a Clothesline
The energy used to heat your clothes and dry them can be eliminated if you simply hang everything outside to dry. While this adds to your workload, it is a free way to reduce your carbon footprint.
When you have a home, there are a number of ways you can help reduce your impact on the environment. Set up a recycling area in your home, have a vegetable garden if possible, and use electricity only when necessary.
Enjoy your space and don’t be afraid to try new ideas to reduce waste within your home.
What’s Ahead For Mortgage Rates This Week – April 9th, 2018
Last week’s economic reports included readings on construction spending, mortgage rates and weekly jobless claims. Other labor-related claims included ADP payrolls, Non-Farm Payrolls and the national unemployment rate.
Construction Spending Rises in February
Construction spending was higher in February according to the Commerce Department. Spending on building projects rose by 0.10 percent in February Reuters reported that construction spending rose 0.10 percent as compared to expectations of an 0.40 percent increase and January’s unchanged reading. Seasonal weather conditions typically cause lulls in building. Analysts said that residential construction spending increased by 0.10 percent to its highest level since January 2007.
Real estate analysts have consistently indicated that building more homes is the only solution to lingering shortages of available homes in the U.S. Recent news about tariffs on foreign building materials may cause builders to wait and see how tariffs will impact business before going all-out on building homes.
Mortgage Rates Fall as New Jobless Claims Rise
Freddie Mac reported lower mortgage rates last week; the average rate for a 30-year fixed rate mortgage was four basis points lower at 4.04 percent.15-year fixed rate mortgage rates averaged 3.87 percent, which was three basis points lower than the prior week. Rates for a 5/1 adjustable rate mortgage averaged 3.62 percent and were four basis points lower than for the prior week. Discount points averaged 0.50 percent for 30-year fixed rate mortgages and 0.40 percent for 15-year fixed rate mortgages and 5/1 adjustable-rate mortgages.
Weekly jobless claims rose to 242,000 new claims filed as compared to 225,000 new claims expected and 218,0000 claims filed the prior week.
Labor Reports Show Mixed Results
ADP reported fewer private-sector jobs created in March with 241,000 jobs created as compared to February’s reading of 246,000 new private-sector jobs. The Labor Department reported a sharp drop in Non-Farm payrolls, which measures public and private-sector job growth. 103,000 jobs were added in March as compared to February’s revised reading of 326,000 jobs added. Jobs added in March were at their lowest level since fall 2017.
Analysts put the low Non-Farm payrolls reading in perspective; on average 202,000 jobs were added monthly during the first quarter of 2018 and jobs growth was faster than during first quarters of 2016 and 2017. The national unemployment rate was unchanged at 4.10 percent; this was the lowest rate in 17 years. Low unemployment rates typically indicate few layoffs and suggest strong economic growth.
What‘s Ahead
This week’s scheduled economic releases include readings on inflation, core inflation and consumer sentiment. The Federal Open Market Committee of the Fed will release minutes from its last meeting. Weekly readings on mortgage rates and new jobless claims will also be released.
Questions and Answers Regarding The Veterans Loan Program
Owning a home is important to military veterans just like the majority of other consumers. The Veteran’s Administration has provided an exceptional benefit for those who have served (or are currently serving) in any of the armed forces. And this VA Loan Program is helping thousands of service members achieve the goal of home ownership.
There are a number of questions that come up regarding the fees and qualifications of the VA Loan Program.
What Are The Specific VA Fees?
Many veterans and active military personnel like the fact that VA loans don’t require private mortgage insurance (PMI). PMI has served as a thorn in the side countless home buyers who couldn’t manage a 20 percent down payment. The good news is that VA loans don’t requre mortgage insurance, even with no down payment at all.
To compensate for the absence of mortgage insurance, the government charges most borrowers a VA Funding Fee. Depending on individual circumstances and the type of funding you need (first-time home purchase versus refinance, for example), this fee can range from.5 percent to 3.3 percent of your mortgage amount.
Fortunately, applicants on disability and surviving spouses may be exempt from this requirement.
Are There Any Administrative Concerns Regarding VA Home Loans?
VA loans are generally as easy to attain as any other government or conventional mortgage loan products, but they do have some unique qualifications to consider. These issues just need to be known and addressed appropriately throughout the transaction to ensure it goes smoothly.
For instance, if you and your spouse both serve in the military and you want to buy a home together, each of your VA entitlements must go through separate processing and approval procedures.
A VA loan also calls for a specific type of home appraisal called a Minimum Property Requirements (MPR) inspection. This should not be confused with the traditional home inspection. The MPR is the required appraisal by an independent VA appraiser. These appraisers typically dig into the home’s tiniest details, which can also be helpful by uncovering potential issues with the home.
Any home improvement or construction work currently under way may delay the approval process. You can minimize these issues by making sure that both your lender and your REALTOR have extensive experience in working with VA loans.
How Can A VA Loan Save Me Money?
Properly finessed, a VA loan for the right amount, and at the right interest rate, can edge out conventional loans. For instance, that VA Funding Fee, unwelcome as it might seem, could cost substantially less than the down payment you might otherwise put down on a conventional loan — without the need to pay mortgage insurance premiums for the first several years of your home ownership.
While the monthly mortgage payments might not look dramatically different on paper, even a savings of $100 a month can make an enormous difference to your financial health over the life of your mortgage loan.
VA loans can indeed provide some important benefits and buying power for our nation’s past and present military service professionals. Take the time to examine all your options so you can obtain the mortgage loan package that best serves your specific needs and goals.
Ultimately, however, you should probably sit down with your trusted real estate professional who can advise you on your wisest course of action.
