Tom Crimmins Realty Blog - mortgage

Cost of Selling Your Home

How Much it is to Sell Your Home:

If you are thinking about selling your home soon or even after the expensive holiday season that is right around the corner. There are costs you should be aware of that come in hand with selling your home. It all goes hand in hand with the decisions you choose to make in the process of selling. If you want to redo parts of your home or even repaint, you will need to spend a little extra money. You may even need to pay realtor fees, attorney fees, transfer taxes, and all of the other expenses while selling your home.

Although the market may be hot right currently, with over-ask bids and bidding battles becoming the norm, many potential home sellers are unaware that selling their house still incurs fees. Some…

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Dual Agency

Pros and Cons of Dual Agency:

When it comes to Real Estate, there are many terms always being thrown around when you are working with an agent. As someone who could be new to the world of real estate all these worlds and phrases getting thrown around could be overwhelming. Today we are going to discuss what a Dual Agency is.

The Dual Agency is when both the seller of the property and the buyer of the property use one agent to represent the both of them. In New York State, dual agency is acceptable as long as the requirements for written disclosure are satisfied. All real estate brokers and agents must expressly disclose to the buyer, seller, or both of the transaction in New York. Dual agency allows the process to go smoothly since only one…

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Activites for Kids on Staten Island

Kid Friendly Places to Visit:

Staten Island has many different activities for all kids all across the island. Activities range from the museum to even indoor arcades, to even the zoo. Staten Island is filled with a plethora of activities for your kids, nieces, nephews and even grandkids to enjoy.

The Staten Island Museum has many different activities for young children. The different exhibits that are displayed are entertaining for all ages. The Staten Island Museum is one of the oldest museums in the entire New York City. Located in Snug Harbor Cultural Center and Botanical Garden, this is a must see place. This extremely old museum was founded in 1881 and is celebrating its 140th year. The Staten Island Museum contains an abundance of exhibits…

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Places to Hike on Staten Island

Favorite Places to Hike on Staten Island:

The activity of taking lengthy walks, especially in a rural or forest setting is what is known as a hike. Staten Island is home to many trails to take a scenic walk and look at the beauty that Staten Island has to offer. Some trails vary from the Greenbelt Conservancy to High Rock Park and many more with different paths that make you want to visit over and over again.

One of the most popular hiking trails on Staten Island is the Greenbelt Conservancy. The Greenbelt Conservancy has many different trails all throughout that are highly populated. A trail named Paulo’s Peak named after Thomas A. Paulo (1947-2020), the first Greenbelt Administrator and creator of the Greenbelt Conservancy, who subsequently…

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Explaining the Lead Paint Law

Lead Paint Law in New York:

When it comes to selling a home or buying, you may hear about the lead paint laws. The lead paint law ensures the safety of the hazardous lead paint in houses that used lead paint. This law requires all of the landlords to confirm that the paint on the walls is safe and does not contain lead by hiring a trained professional. In 1960, New York City outlawed the use of lead-based paint in residential construction, and in 1978, the federal government outlawed the selling of lead-based paint in commercial settings.

Lead paint can be extremely dangerous and harmful for people of all ages. The lead paint law is designed for the people in order to make sure that all precautions are taken to ensure the safety of all people…

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Tourist Views from the Staten Island Ferry

Views from the Ferry:

The Staten Island Ferry is a passenger ferry service run by NYC’s Department of Transportation. It is a free way to travel between the boroughs of Manhattan and Staten Island. The ferry travels a single route around New York Harbor for 5.2 miles in roughly 15-20 minutes on average. The ferry is located in St. George of Staten Island and travels to Whitehall of Manhattan. The Staten Island Ferry is not necessarily only used by tourists as it is also used by commuters but there are still beautiful views that can be caught during the ride.

While traveling on the Staten Island Ferry, there are many tourist views that can be spotted during the ride. Traveling on the Ferry gives the people the opportunity to see the skyline of…

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What is a Handyman Special?

Pros & Cons of a Handyman Special:

When it comes to buying or selling a home, have you ever heard of the term “The Handyman Special.” It is a specific home being sold at a lower price due to the amount of work and repairs that are needed to be put back into the house. Houses that need lots of restorments and work are known as the Handyman Special. Finding your ideal house at an affordable price is proving to be almost impossible or are you interested in a fantastic deal on your future house? Or the complete opposite, are you looking to flip a home? There are several factors that might influence your decision to buy a handyman special as your future house. Investing in these homes could be beneficial based on the amount of work that has to be put…

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Rising Insurance Costs

Guest Blog by: Jude Romano - Founder & CEO of The Insurance Goat

One of topics at top of the surface today... is rising insurance cost.

It's important for consumers to understand what is going on and why a big change in pricing. The cost to rebuild a home has gone up significantly due to material cost rising. The insurance companies are raising coverages due to the rising cost to rebuild.

The cost of insurance from a year ago is up between 25-40%. Within good reason of inflation hitting even the insurance industry. Some best practices are available to help mitigate some of the increases.

For tips on how to reduce rates be sure to stay in touch with The Insurance Goat. Call us @ 1-833 INS GOAT, visit us @ www.theinsurancegoat.com & Follow us…

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The 2/1 Buydown

Guest Blog by: Daniel Boxman of Think Mortgage

In today’s current rising rate environment, many buyers are taking advantage of the 2/1 rate buydown. This loan product has been available for a while but has gained popularity over the last month or two due to the increase in mortgage rates. The 2/1 buydown gives buyers the ability to lower their interest rate 2% below the current market rate for the first 12 months of their mortgage payments and 1% below for the next 12 months before the rate increases to the current market rate in which the loan was locked.

For example: if the current market rate is 6.75% and the buyer uses the 2/1 buydown, their first 12 mortgage payments will be at 4.75%. Their next 12 payments will be at 5.75% and on the 3rd year…

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Conforming and Non-Conforming Mortgage Loans

Types of Mortgage Loans

Requirements to get a Loan:

• Credit Score: Your mortgage interest rate is determined based off your credit.
• Estimated Downpay: Keep in mind the size of your down payment most likely will impact your mortgage loans.
• Monthly Mortgage Payments: Lenders will look at your earned income and assets to assist them come up with a budget for a monthly payment. Lenders will consider the principal amount, taxes, mortgage insurance, homeowner fees, and even interest when assessing the budget. 
  

Types of Conforming Mortgage Loans:

• Conventional Loan: often known as a conventional loan, is a house homeowner's loan that is neither given or guaranteed by the government. It can be obtained from a commercial…

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