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3 Resolutions You Can Make for Your Home | Trusted American Mortgage


January 9, 2020 | By Patrick Donlon

It’s the start of a new year—and the time many of us start implementing resolutions for the year ahead. Why not add one or two to the list related to your home? After all, it’s a big investment, so you want to make the most of it!

Our team at Trusted American Mortgage wants you to learn how you can best care for your new home by establishing strong resolutions for 2020. Consider adding these resolutions to your list:

Make a List of Home Improvement Projects

While you do not have to take care of every home project all at once, you do want to have a running list of to-dos in order to keep your home improvement projects streamlined.

After making a list of everything you want to accomplish, you want to start listing them from highest priority to lowest priority. That way you can ensure the most important home tasks get taken care of as soon as possible, such as HVAC issues and electrical upgrades.

Make Your House Your Home

There is having a house, and then there is having a home. Although one might think these two terms are the same, they are actually very different. A house is just that—a house. But a home is so much more.

When you walk into your home, you want to be able to take a deep breath and just feel instantly at ease knowing you are safe and sound. Through home decor, home security and other ways, you can be sure to turn your house into a home in the new year!

Make Your Home More Energy-Efficient

Your electric bill comes once a month. Wouldn’t it be nice to see that bill as low as possible?

Let’s take a look at ways you can start making your home energy-efficient today:

  • Unplugging unused electronics
  • Turning off unnecessary water
  • Sealing all windows
  • Using energy-efficient lightbulbs
  • Turning off lights when not in the room
  • Lowering your thermostat

Then, you can use the savings of your electrical bill each month to put toward your home improvement projects on your resolution list. It’s a win-win!

Are you on the search for a new home? Check out our Trusted American Mortgage website today to find out how we can help!



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What's Trending in Home-buying for 2020? | Trusted American Mortgage
December 4, 2019 | By Patrick Donlon

Everyone is always wanting to stay on top of the latest trends—and who can blame them?

Our team at Trusted American Mortgage wants to inform you on the latest trends happening within the housing and mortgage market as we enter a new year!

Whether you are in the market for a new house or not, you have probably heard the phrases buyer’s market and seller’s market in passing. But what do these really mean?

In previous months (and years), it has certainly been a seller’s market, which basically means the seller has the upper hand when negotiating the sale of a home. However, the tables are turning a little bit, which means it is becoming more of a buyer’s market. That means the buyer will now have more of the power when it comes to negotiating the cost of a home.

Are you looking to sell your home in 2020? Sooner is better than later, especially since things could change within the new year. Some economic experts believe a recession could hit by 2021 and the effects could start to appear in later 2020. So now may be the time to look to sell.

A third trend to watch for in the mortgage industry is the ability to refinance. People refinance a home for a number of reasons, including:

  • Obtaining a lower interest rate and mortgage payment
  • Reducing PMI
  • Moving from an adjustable-rate mortgage to a fixed-rate mortgage
  • Buying out an ex-spouse

Even if you recently bought a home, you should still consider checking out the current refinancing rate, as you could still take advantage of a great deal in 2020!

Remember, trends are always changing, including in the housing and mortgage market. While these are some of the trends now, you never know what will happen throughout the next year! Take advantage of what you can now so that you don’t regret missing out later.

Are you on the search for a new home in the new year? Check out our Trusted American Mortgage website today to find out how we can help!

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Home for the Holidays! | Trusted American Mortgage
November 1-By Patrick Donlon

Can you believe we are already entering November? Where has this year gone? It always seems each year passes by faster than the next.

However, now it really is crunch time when searching for a new home just before the holidays. Our team at Trusted American Mortgage is here to help you find the perfect home just in time to celebrate the holidays with loved ones.

Be Settled in a New Home for the Holidays

While house hunting can be fun, during this time of year, you also want to be able to decorate it for the holidays! Therefore, you might want to consider ways you can find your new home fast so that you have plenty of time to celebrate it before the holiday season begins.

With the pressure on, let's take a look at ways you can find the perfect home:

Get Pre-Approved for a Mortgage

The first thing you want to do before you start the hunt for the perfect house this holiday season is to go ahead and get pre-approved for a mortgage. The last thing you want to do is waste time looking at homes you cannot afford.

Therefore, take care of this first step before moving forward in the homebuying process.

Get All the Documentation Ready

When you find the right home, you want to make sure you have all your ducks in a row in order to make the home buying process as efficient as possible, especially around this time of year when you have no time to waste!

The following are documents homebuyers need when purchasing a new home, such as:

  • Federal tax returns for the past two years
  • Supporting information (e.g., W-2, 1099, or other tax forms) for the past two years
  • Two months' worth of statements from any checking and savings, 401(k), retirement, and other accounts
  • Pay stubs for the past month

Prepare for Your Move

Although you may not be sure of where your new home will be, you do know that there will be a move. Therefore, start planning for your move now so that when the time does come to begin moving into your new home, you already have a head start on packing!

Also, go ahead and do some of the legwork, like determining the steps to take to get cable and internet set up, gas turned on, and other such tasks.

Are you looking for a new home just before the holidays? Give our team at Trusted American Mortgage a call to learn how we can help!


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Is It Time to Refinance Your Home? | Trusted American Mortgage

August 1, 2019 Parick Donlon

Refinancing your mortgage can certainly save you money. However, before you pull the plug on refinancing your home, our team at Trusted American Mortgage wants to make sure that you time it just right to benefit most.

Let’s take a look at some things to consider when it comes to determining whether you should refinance your mortgage:

Is It a Better Interest Rate?

You want to make sure that when you refinance your mortgage that you are able to obtain a better interest rate. Now only can the interest rate help with lowering your monthly payment, it can also help you save money throughout the lifetime of your home loan.

Therefore, you want to make sure you are improving your interest rate in order to improve your overall finances in the end!

In order to know if your interest rate is going to be better, you also need to be aware of your current credit score. If your credit score is higher than what it was when you first bought your home, then there is a good chance that you’ll receive a better interest rate offer this time around.

However, if your credit score is lower than when you first became a homeowner, then you might want to rethink refinancing.

Do You Have Upcoming Expenses?

This is where you consider whether your financial needs merit refinancing to free up more money.

Are you in need of cash to help cover your child’s college tuition or are you looking to make big improvements to your home?

Then, refinancing your mortgage might be the best (and cheapest) way to free up the money you need for a big expense.

Will You Ultimately Save Money?

The ultimate goal of refinancing in most cases is to save money in the long run. So carefully consider the details of any mortgage refinance offer to determine whether it will help you do that.

You’ll want to examine not just the interest rate and new monthly payment, but also the total amount due—and whether that represents an actual savings over your current mortgage. A mortgage loan officer will be able to step you through all the details so you can make an informed decision.

Are you looking to refinance your home? Give our team at Trusted American Mortgage a call today to learn how to get started!



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Home Loan Pre-Approval: What Is It & How to Get It | Trusted American Mortgage       September1-Pat Donlon

*There is no place like home.*—Dorothy

Our team at Trusted American Mortgage completely understands the need and desire to want to go house-hunting as soon as it is decided that you are in the market for a new home.

However, have you ever found something you loved and then realized at the end that you couldn’t afford it? It quickly puts a damper on the entire experience and makes it hard to move forward to find something you love even more.

Therefore, rather than going in blind when house-hunting, know how much home you can afford by getting pre-approved for your mortgage before starting the search for your new home!

Things to Know About Getting Pre-Approved

Finding your dream home should be fun! So, take the risk of being disappointed out of the equation by getting pre-approved before you start hunting.

What is this pre-approval, you might ask? Well, it essentially tells you how much of a loan a bank is willing to provide to you. This will provide you with clear parameters on what you’re able to afford—and what you are not.

The first thing to know, though, is that just because you get approved for a $300,000 home mortgage, it doesn’t mean you need to buy a $300,000 home! It’s very important that you truly understand the costs of homeownership, above and beyond just the monthly mortgage. Make sure to set yourself up for success!

How can you obtain the best possible terms for your loan? It’s all about credit.

First, you want to make sure that your credit score is ready for a home mortgage. The higher the credit score, the better the interest rate on your home loan. Start taking steps to improve your score by making all payments on time, not closing old accounts and paying off your credit accounts monthly when possible.

In addition, you also want to make sure your debt-to-income ratio isn’t too unbalanced. If most of your income is going toward paying off debt, that won’t reflect positively when applying for a mortgage. So, work to pay down some of the debt prior to house-hunting, for best results.

Are you in the market for a new home? Before you start house-hunting, give our team at Trusted American Mortgage a call to discover how much home you can afford.



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It's Time to Talk Closing Costs! | Trusted American Mortgage
October 1 -Pat Donlon

It never fails. You think you have everything you need to buy a home and, then, bam. You completely forgot to factor in the closing costs.

Our team at Trusted American Mortgage wants you to be as prepared as possible when it comes to buying a new home by making sure you include closing costs within your budget.

How Low Can the Closing Costs Go?

Of course, one thing you want to make sure you do is lower the closing costs as much as possible. Let’s take a look at a few ways you can make certain you get the best price possible when it comes to closing costs on your new home.

What Will the Seller Pay For?

Just because you are paying for some of the closing costs of the home, it doesn’t mean the seller isn’t responsible, too. Although the seller usually pays for the real estate agent commissions, they are also usually responsible for paying for some of the closing costs.

In fact, in some markets, buyers can have the upper hand in sometimes asking the sellers to pay for all closing costs as a way to seal in the deal. However, this is only in some cases.

What If You Don’t Have the Cash to Pay Closing Costs?

Are you unable to pay the closing costs associated with your new home? You can sometimes roll the closing costs into your overall mortgage payment, which can end up saving you money at closing.

However, because you are paying interest on your closing costs when putting it with the rest of your mortgage, you might actually be spending a little more in the end. Yet, this is a great way for you to have the closing costs paid for when you don’t have access to the cash needed at the time of closing.

How Can You Be Better Prepared for Closing Costs?

When saving for your mortgage, you can also start saving for your closing costs. This way you will not be surprised when the time comes to discuss and pay closing costs so that you can still get the keys to your dream home!

Are you looking for more information about closing costs?  Call 303-558-1500 0r email: manager@trustedamerican.com



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