The Keys - from Bank of England Mortgage
A BOE Story from Loan Officer Zackary Disinger - Indianapolis, Indiana

A good friend of mine who wanted to buy a home came to me asking questions. Coming into his mid-20’s he was coming off a history of terrible financial decisions concerning credit cards and payment history. At the time of our initial sit down, which so happened at an Arby’s, we began figuring out how to get him “home ready” in a year. He grew up with his mom on the least desirable side of town, and she was not the “go to” for financial advice according to him. His credit score was well below average, with no sense of real direction on what to do. He was a bit desperate and he knew he made some mistakes. Using the credit simulators and talking through a plan we had a bold strategy to get his score up to the minimum to get him financed FHA. A year passes, with the occasional check in to see how he was doing, he finally said he is ready. He mentioned being tired of living at home, he had a steady girlfriend that he wanted to make his wife, but first, he wanted a home. We pulled credit that day, and that’s when the fruit of his labors began to prosper. He met the guidelines for a FHA! He ended up getting qualified, connected him with a trusted real estate agent, and in March of 2018, he bought his first home. A beautiful 3 bedroom, 2 bath ranch.

Later that year, he proposed to his longtime girlfriend and got married shortly after. My friend worked in car sales, and he began to find his stride. His income doubled in 2018, and 2019 looked to be promising. He continued to work on credit through the year. We saw appreciation rise in his home and his credit increasing we decided to consider a refinance. But, this time he wanted to go big. In July of 2019 we closed a refinance for him and now wife on a Conventional 15 year, with no PMI. Moving his payment very little.

At this point his credit score is well into the 700’s, he is making a good income, and we secured some fantastic terms. At this point, we shouldn’t have to touch his primary mortgage again unless he needs the equity. As of today, my friend has not plunged into his first investment home yet, but he sees the real potential, and is waiting his time for when he believes the market is right. But this man has every intention of buying real estate, so that he can leverage his day time earnings into a sustainable retirement down the road.

4 Summer Home Improvements

Can of wood finish Power Washing House Siding
Your house blocks a lot of dirt, wind, and rain from getting to you. It is your turn to take care of it and get the yuck off of it. At least once a year you should wash the outside of your home, usually this means breaking out the power washer. If you have never cleaned the outside of your home a power washer may be necessary but if you do it regularly you may only need your hose with a special nozzle. The best time to do this is the summer (right after pollen season). You can break out the hose without recoiling to the enevadable water splatter.

Landscape Enhancement

An easy way to improve the look of your home is to do some landscaping. You can prune back plants and encourage new vibrate growth. Doing this is like giving your house a fresh haircut. You can have the same effect by edging your beds and mulching them. Edging requires some more effort but will make a world of difference. Mulch is also a great option but you only need to do this every couple of years.

Fence Maintenance

Another outdoor home refresher is fence maintenance. Before you do anything make sure your wood fence is at least a year old, this lets the wood completely dry out. After the first year you are free to stain and paint your fence without the fear of trapping in any moisture. If your wood is not fully dry and you paint it you are locking in the moisture reducing the life of your fence. Experts say that you should check your fence once a year for damage and loose screws/nails. You should also fill any cracks, splits or chips with wood glue to prevent water getting to the wood.

Deck Maintenance

Your deck maintenance is a mashup of siding and fence cleaning. It should be thoroughly cleaned once a year when it is warm and dry outside. Cleaning includes a mold and bacteria killer either sprayed or rolled onto the wood. Then use a scrub brush or a hose to wash off the excess residue. Every few years you should sand your deck and reseal it to extend it life. Note that paint is NOT sealant and will not protect your wood from the elements.

Doing these tasks yearly will keep your home looking fresh. They will also potentially save you from having to do major renovations to your home because of wear.

Things To Know

Home Safety - 90 percent of poisoning incidents involving children occur in the home. Make sure to keep harmful products up and away from curious hands.

Looking for a home loan? Lets talk about the path to home ownership today!

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Bank of England Mortgage is an Equal Housing Lender. Member FDIC

Bank of England Mortgage is a division of Bank of England. NMLS# 418481. Bank of England Mortgage is an Equal Housing Lender. Member FDIC. For informational purposes only. Results may vary.

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