Categories
Mortgage Process

First Home Buyer Tips They Don’t Teach You in School

teacher.jpg
You don’t learn about how to buy a house in school. They don’t teach you  what you need to apply for a mortgage, what kind of loan you’ll need, or what PMI is (it’s called private mortgage insurance)

And let’s not mention that you need to shop around for the best deal — or you can hire somebody to do that for you.

So here are some First Home Buyer Tips to help guide you through the home buying experience. 

BEFORE YOU START LOOKING
♦  Have a conversation with your significant other about what you’re millenial 2looking for, what you need and what you can do without. Standing in the living room during an open house with your real estate agent isn’t the time to argue about wanting three bedrooms instead of four.
♦  Know your financial records. What’s your credit score? How much Low Monthly Paymentsoutstanding debt do you have? What monthly payment can you afford?
How much money did you make last year? You’re going to need to know all of this information. Have all of your paperwork ready to go.
♦  Know your limit — if you can’t afford a $450,000 house, don’t go look at $450,000 houses.
♦  Shop around. There are dozens of real estate agents, attorneys, and mortgage officers so don’t settle. These people are going to work for you, their job is to make you happy. You’re going to be on the phone and meeting with them frequently, so make sure you like who you’re working with.
♦  Do your research. When you do decide on a real estate agent, he or she isGet Pre-Approved going to want to know what your price range is, what neighborhoods you’re interested in, if you want to be close to schools, expressways, public transportation, etc. Know what you want and Get Pre-Approved! 

WHILE YOU’RE LOOKING
♦ This is the big one you’ll be glad someone told you about.
Don’t get too attached to a house, because if it the deal doesn’t work out, for whatever reason, you’re going to be devastated.
♦  Be willing to negotiate, it’s a big part of the game.
♦  This goes hand-in-hand with negotiating: put your foot down and don’t let anyone take advantage of you. If the seller is asking for way more than you’re told the house is worth, or if they’re not willing to fix something that is broken or at least negotiate the cost, you have to be ready to walk open houseaway. There will be more houses, trust me.
♦  Don’t just purchase a house by its listing. Go look at EVERYTHING. A lot of houses look different in person than they do on-line, good and bad.

First Home BuyerI have the belief that anyone that deserves to own a home should be able to do so. The American Dream is still attainable for those buyers who do their homework, establish a game plan and work hard to achieve that goal. I’m here to help.

Source: http://www.silive.com/news/index.ssf/2016/06/buying_your_first_house_things.html

Categories
About Rick Cignoli

About Rick Cignoli

“When You Work With a Professional, You Get Professional Results”

Rick Cignoli is a seasoned Mortgage Professional who brings 40 years of banking, credit union and financial planning expertise to the home buying experience. He is committed to helping his clients live comfortably and financially secure in their own home with the Right Mortgage at the Best Rate.

Understanding his clients’ needs with a focus on providing honest answers to their concerns has earned Rick a reputation as a Mortgage Advisor you can trust.

Rick particularly likes drawing on his teaching background to educate First Home Buyers on the complicated mortgage process. He can solve your puzzle with his expertise in:

♦  Conventional Mortgages
 FHA and the FHA 203K “Fixer Upper Rehab Loan
♦  USDA Guaranteed Rural Housing Development Loan
♦  Hone Possible Loans for Millennial Buyers
♦  FNMA Home Style Rehabilitation Loan
♦  Construction Mortgages
♦  Jumbo Mortgages
♦  And Much More!

Rick is a licensed Connecticut Mortgage Loan Officer and registered with the National Mortgage Licensing Service #76681. He attended the University of Connecticut and is an alumnus of the Stonier Graduate School of Banking at the University of Delaware.

Rick’s experience and broad knowledge of the financial markets enables him to  help his clients with Courtesy, Competency and Concern with the right mortgage at the right rate.
To be sure you have all the right information to make the right financial decision for your family contact Rick at:

Rick Cignoli
Sr. Mortgage Loan Officer
NMLS# 76681
Norcom Mortgage NMLS# 71655
Direct:  860.945.9284
Cell:  203.525.0259
rick.cignoli@norcom-usa.com
https://rickcignoli.norcommortgage.com/
Equal Housing Lender

 

 

 

Categories
About Rick Cignoli

About Rick Cignoli

“When You Work With a Professional, You Get Professional Results”

Rick Cignoli is a seasoned Mortgage Professional who brings 40 years of banking, credit union and financial planning expertise to the home buying experience. He is committed to helping his clients live comfortably and financially secure in their own home with the Right Mortgage at the Best Rate.

Understanding his clients’ needs with a focus on providing honest answers to their concerns has earned Rick a reputation as a Mortgage Advisor you can trust.

Rick particularly likes drawing on his teaching background to educate First Home Buyers on the complicated mortgage process. He can solve your puzzle with his expertise in:

♦  Conventional Mortgages
 FHA and the FHA 203K “Fixer Upper Rehab Loan
♦  USDA Guaranteed Rural Housing Development Loan
♦  Hone Possible Loans for Millennial Buyers
♦  FNMA Home Style Rehabilitation Loan
♦  Construction Mortgages
♦  Jumbo Mortgages
♦  And Much More!

Rick is a licensed Connecticut Mortgage Loan Officer and registered with the National Mortgage Licensing Service #76681. He attended the University of Connecticut and is an alumnus of the Stonier Graduate School of Banking at the University of Delaware.

Rick’s experience and broad knowledge of the financial markets enables him to  help his clients with Courtesy, Competency and Concern with the right mortgage at the right rate.
To be sure you have all the right information to make the right financial decision for your family contact Rick at:

Rick Cignoli
Sr. Mortgage Loan Officer
NMLS# 76681
Norcom Mortgage NMLS# 71655
Direct:  860.945.9284
Cell:  203.525.0259
rick.cignoli@norcom-usa.com
https://rickcignoli.norcommortgage.com/
Equal Housing Lender

 

 

 

Categories
Market Updates

Banks To Layoff Thousands! What It Means To You.

News FlashJPMorgan Chase plans 8,000 layoffs in 2014 on reports of double-digit declines in their mortgage and retail banking business. That’s in addition to 16,500 layoffs in those divisions last year. Other banks expected to make similar announcements soon.What does that mean to you?
1.      Rising Interest Rates. JPMorgan and other big-box banks expect interest rates to continue to rise in 2014. With higher rates, fewer Americans are walkingRising Home Prices through their doors seeking to refinance their mortgage. They expect that trend to continue.
2.     Service. Fewer loan officers in the branches means home buyers will be directed to a sales clerk at an 800#. Purchase or Refinance…borrowers will not be able to talk face-to-face with some about the most significant transaction in their financial lives.
3.     Products. As the level of service declines, the range  and complexity of the product line has to decrease also to adapt to the experience of the sales force.
So I ask …Do you want to be a faceless #, Or…do you want to work with a Mortgage Broker who will continue to meet up close and personal with his clients? I will bring 40 years of financial services experience to the table along with direct relationships with over a dozen trusted lenders who offer a wide range of mortgage options.
I have the keys to help families live comfortably and financially secure in their own home; and I will uphold my promise to ‘”Do my best to provide the right mortgage solution at the right rate to meet a family’s unique situation.”

Categories
Market Updates

Banks To Layoff Thousands! What It Means To You.

News FlashJPMorgan Chase plans 8,000 layoffs in 2014 on reports of double-digit declines in their mortgage and retail banking business. That’s in addition to 16,500 layoffs in those divisions last year. Other banks expected to make similar announcements soon.What does that mean to you?
1.      Rising Interest Rates. JPMorgan and other big-box banks expect interest rates to continue to rise in 2014. With higher rates, fewer Americans are walkingRising Home Prices through their doors seeking to refinance their mortgage. They expect that trend to continue.
2.     Service. Fewer loan officers in the branches means home buyers will be directed to a sales clerk at an 800#. Purchase or Refinance…borrowers will not be able to talk face-to-face with some about the most significant transaction in their financial lives.
3.     Products. As the level of service declines, the range  and complexity of the product line has to decrease also to adapt to the experience of the sales force.
So I ask …Do you want to be a faceless #, Or…do you want to work with a Mortgage Broker who will continue to meet up close and personal with his clients? I will bring 40 years of financial services experience to the table along with direct relationships with over a dozen trusted lenders who offer a wide range of mortgage options.
I have the keys to help families live comfortably and financially secure in their own home; and I will uphold my promise to ‘”Do my best to provide the right mortgage solution at the right rate to meet a family’s unique situation.”

Categories
Mortgage Process

New Year Tips for Home Buyers

It’s the New Year! It’s time to say good bye to the past and resolve to improve your life style. If buying a New Home is at the top of your New Year’s resolution list, here are some Great Tips for Home Buyers:

Get Pre-Approved1. Get Pre-Approved for a loan. Getting pre-approved can keep your deal from going south. Find a mortgage broker that you trust and can communicate with on a one-to-one basis. Getting pre-approved also keeps you realistic about price, puts you more at ease during the process and gives you an edge over the other bidders.

2. Get the right Real Estate Agent. A good agent can relieve some of the stress ofBuyers and Sellers house hunting. Get recommendations from friends and co-workers in your area. Interview a couple of agents to find the right chemistry and the knowledge that you need to make a very important decision.

Shopping for a New Home3. Whatever you do, don’t look at too many houses all at once. It is so easy to get confused and overwhelmed. Make a “must-have” list for features that are non-negotiable versus just wants or wishes. Let your broker help you narrow it down.

4. Keep an open mind at all times. Sometimes you might fall in love with a home or a style that your broker has showed you that you would never have dreamed of considering.

5. When you find a home that you like, learn about the neighborhood. A large part of your satisfaction with daily life revolves around the amenities, schools and neighborhood at different times of the day and on the weekend.

Home Inspection6. Never buy without a home inspection. You can’t rely on what you see in a walk-through. Problems hide under carpeting and inside walls and attics. Hire a certified home inspector. Go over the report with them or your agent. Remember, inspectors are going to point out everything they find, that is their job. Let your agent help you determine what you need to ask the seller to fix, but the final decision is yours.

7. If you don’t understand something, speak up. Ideally, your agent and your mortgage broker Confusedwill have run through the process, but if you don’t understand any part of the paperwork, process or terminologies, Ask Questions.

8. Submit your best offer up front. In markets that are doing relatively well, prime properties often receive multiple offers. There’s no time to haggle.

Handshake 9. Be prepared to compromise. You don’t always get what you ask for, but if you keep communication open between the you and the seller, odds are good that you end up in a win-win situation.

10. Don’t get emotional. That’s hard to do. Listen to your mortgage broker. Be realistic with your price range and don’t overextend yourself. This purchase is something you have to live with for a long time. Go into your home purchase with the right mental state of mind. Your real estate agent is on your side too.. Let them help you with their knowledge and experience.

Buyers and SellersBuying a home should not be an ordeal. It should be exciting endeavor and one of the best experiences of your life.
Best Wishes for a Happy New Year in your New Home

Categories
Select Properties

77 Grove Street, Thomaston, CT For Sale- Eligible for 100% USDA Financing

 Open House. Sunday, January 19, 2014. 1:00 – 3:00 P.M.

First Home Buyers! Move right in to this 3BR Ranch with LL finished Family Room. Owner Motivated. Will Consider Offers!

77 Grove StreetAnd … It’s Eligible for Up to 100% Financing with a USDA Guaranteed Rural Housing Development Loan. Buyers have ability to roll the Closing Costs into Loan amount. Low Rates! Low Mortgage Insurance! Low Monthly Payments! Beats FHA any day.

http://www.realtor.com/realestateandhomes-detail/77-Grove-St_Thomaston_CT_06787_M33571-38181?ex=CT557408117&source=web

Call Rick Cignoli at 860.945.9284 for details on the USDA Guaranteed Rural Housing Development Loan and to take advantage of my FREE Mortgage Pre-Approval service.

Then Call Margaret at Westview Properties (860)274-7838 to schedule a showing and be ready to make an offer.

Categories
Market Updates

Protect Your New Home with These January Home Maintnenance Tips

Here are some January Home Maintenance Tips you should consider:

I Know … It’s January, it’s cold and you’ve got the winter blahs. You’d like nothing better than to curl up in a warm blanket perhaps with some hot cocoa; watch a football game or read the good book you received for Christmas.
Sorry my friends… January is the month for the greatest vigilance in your Home Maintenance routine.

The most important January Home Maintenance Tip is to head off damage to your home from frozen and bursting water pipes:DIY
1. Particularly vulnerable pipes are those exposed to the cold including hose bibs, pipes in outside walls and pipes in unheated attics, basements and garages
• If practical, insulate any pipes exposed to the cold.
• Check out these State Farm Insurance Videos on how to insulate your pipes and shut off your water in case of an emergency
2. Seal any leaks that are letting cold air in, especially around dryer vents and pipes and where electrical wiring enters the house.
3. Search for uninsulated water supply lines in the attic, garage, basement and crawl spaces and in bathroom and kitchen cabinets adjacent to outside walls.
4. During a cold spell, open cupboard doors in the kitchen and bathroom so the home’s heat can reach them.
• Reminder: Put harmful household cleaners out of the reach of children
• Keep garage and other outside doors shut tight during freezing weather.Water Shut-Off Valve
5. Locate your home’s water shut-off valve; learn how to turn off the water quickly in case a pipe bursts.
6. Keep temperatures inside the house at 55 degrees Fahrenheit or above, night and day, even when you’re gone.
7. Don’t close vents to crawl spaces. If you live where pipes can freeze and the floor becomes very cold, insulate pipes and under the floor. Vents play an important role in controlling condensation beneath a house.
8. Promise yourself that when the weather improves you will add to the installation in the basement or crawl space and attic.

It’s not over yet … You want to protect your investment don’t you? Here are some other January Home Maintenance Tips to work on:
1. Cold weather drives mice and chipmunks into the walls of your home, even those unheated parts of the house.
• Mice can get in through a dime-sized hole; so seal any cracks where these pests can enter.
• Empty compost and garbage frequently.
• Keep food covered and put away; keep counters clean.
• Check basement, attic, crawl spaces and the back of cupboards and cabinets for mice droppings or holes. If you find evidence, install traps immediately or call a pest-control service.
Keep going,  here’s a few more January Home Maintenance Tips to tackle:
2. Organize your home improvement files. Review product warranties and manuals. Check on recommended maintenance for furnaces, equipment, appliances and tools. Mark your calendar to track scheduled upkeep and service.
3. Inspect furniture, cabinets and vanities for loose knobs, pulls and hinges.
• Tighten or repair as necessary.
• Lubricate squeaky door hinges with lightweight machine oil.home contents
• Free sticky doors by trimming edges or shimming hinges with thin pieces of cardboard.
• Make a list repairs to tackle later.
4. Make a room-by-room inventory of everything in your house. In the event of fire, flood or other disaster, it will be important in filing an insurance claim.
• Save receipts for valuable home purchases and for work you have done to upgrade the   interior or exterior of your home.
• Back-up your inventory on a CD so you can get it even if your computer is destroyed. Photographs or video of your possessions can also be helpful.Electric Panel
5. Check the labels on the switches in your electrical circuit-breaker panel and make new labels if necessary.
6. Check your furnace filter monthly in the winter to see if it needs replacing.
7. Use a vacuum-cleaner tool or a long-handled brush to clean under and behind the refrigerator, including the coils.
8. Clean lint from under laundry appliances, especially the dryer, carefully work the cleaning tool down into the lint filter; outdoors, clean the dryer vent outlet, reaching as far as possible into the pipe.

OKAY … Now you’re done! Now you can relax knowing that you’ve done what you can to protect your home with these January Home Maintenance Tips.

Keys to Your New HomeOH, Just One More Thing! I rely on clients like you for your heartfelt  endorsements to family, friends, and those within your sphere of influence who will benefit from the same experience, service and advice I have extended to you.
So I ask . . . Please Don’t Keep me a Secret! Who do you know that could benefit from working with a Mortgage Professional like Me?

Categories
Market Updates

Protect Your New Home with These January Home Maintnenance Tips

Here are some January Home Maintenance Tips you should consider:

I Know … It’s January, it’s cold and you’ve got the winter blahs. You’d like nothing better than to curl up in a warm blanket perhaps with some hot cocoa; watch a football game or read the good book you received for Christmas.
Sorry my friends… January is the month for the greatest vigilance in your Home Maintenance routine.

The most important January Home Maintenance Tip is to head off damage to your home from frozen and bursting water pipes:DIY
1. Particularly vulnerable pipes are those exposed to the cold including hose bibs, pipes in outside walls and pipes in unheated attics, basements and garages
• If practical, insulate any pipes exposed to the cold.
• Check out these State Farm Insurance Videos on how to insulate your pipes and shut off your water in case of an emergency
2. Seal any leaks that are letting cold air in, especially around dryer vents and pipes and where electrical wiring enters the house.
3. Search for uninsulated water supply lines in the attic, garage, basement and crawl spaces and in bathroom and kitchen cabinets adjacent to outside walls.
4. During a cold spell, open cupboard doors in the kitchen and bathroom so the home’s heat can reach them.
• Reminder: Put harmful household cleaners out of the reach of children
• Keep garage and other outside doors shut tight during freezing weather.Water Shut-Off Valve
5. Locate your home’s water shut-off valve; learn how to turn off the water quickly in case a pipe bursts.
6. Keep temperatures inside the house at 55 degrees Fahrenheit or above, night and day, even when you’re gone.
7. Don’t close vents to crawl spaces. If you live where pipes can freeze and the floor becomes very cold, insulate pipes and under the floor. Vents play an important role in controlling condensation beneath a house.
8. Promise yourself that when the weather improves you will add to the installation in the basement or crawl space and attic.

It’s not over yet … You want to protect your investment don’t you? Here are some other January Home Maintenance Tips to work on:
1. Cold weather drives mice and chipmunks into the walls of your home, even those unheated parts of the house.
• Mice can get in through a dime-sized hole; so seal any cracks where these pests can enter.
• Empty compost and garbage frequently.
• Keep food covered and put away; keep counters clean.
• Check basement, attic, crawl spaces and the back of cupboards and cabinets for mice droppings or holes. If you find evidence, install traps immediately or call a pest-control service.
Keep going,  here’s a few more January Home Maintenance Tips to tackle:
2. Organize your home improvement files. Review product warranties and manuals. Check on recommended maintenance for furnaces, equipment, appliances and tools. Mark your calendar to track scheduled upkeep and service.
3. Inspect furniture, cabinets and vanities for loose knobs, pulls and hinges.
• Tighten or repair as necessary.
• Lubricate squeaky door hinges with lightweight machine oil.home contents
• Free sticky doors by trimming edges or shimming hinges with thin pieces of cardboard.
• Make a list repairs to tackle later.
4. Make a room-by-room inventory of everything in your house. In the event of fire, flood or other disaster, it will be important in filing an insurance claim.
• Save receipts for valuable home purchases and for work you have done to upgrade the   interior or exterior of your home.
• Back-up your inventory on a CD so you can get it even if your computer is destroyed. Photographs or video of your possessions can also be helpful.Electric Panel
5. Check the labels on the switches in your electrical circuit-breaker panel and make new labels if necessary.
6. Check your furnace filter monthly in the winter to see if it needs replacing.
7. Use a vacuum-cleaner tool or a long-handled brush to clean under and behind the refrigerator, including the coils.
8. Clean lint from under laundry appliances, especially the dryer, carefully work the cleaning tool down into the lint filter; outdoors, clean the dryer vent outlet, reaching as far as possible into the pipe.

OKAY … Now you’re done! Now you can relax knowing that you’ve done what you can to protect your home with these January Home Maintenance Tips.

Keys to Your New HomeOH, Just One More Thing! I rely on clients like you for your heartfelt  endorsements to family, friends, and those within your sphere of influence who will benefit from the same experience, service and advice I have extended to you.
So I ask . . . Please Don’t Keep me a Secret! Who do you know that could benefit from working with a Mortgage Professional like Me?

Categories
Market Updates

Happy Thanksgiving

Thanksgiving is a family holiday, a time for sharing and for giving thanks.

From my family to yours, I wish you abundance of life’s most important things: love, happiness, health and family.

pilgrims