Month: May 2019

Scotsman Guide Names First Home Mortgage Top Mortgage Lender 2018

Posted on by Emily Andrews

Bothell, Washington — Scotsman Guide congratulates First Home Mortgage for ranking on Scotsman Guide’s seventh annual Top Mortgage Lenders rankings. First Home was ranked #37 for Top Overall Volume.

This is the seventh year that Scotsman Guide has compiled rankings for Top Mortgage Lenders, and the seventh year First Home has made the Top Lenders list. These rankings complement Scotsman Guide’s 10th annual Top Originators rankings. The list will appear in print in June’s Residential Edition. All rankings are online at scotsmanguide.com/rankings and in Scotsman Guide’s digital edition at sg-resdigital.com.

This is the industry’s most comprehensive verified rankings of the nation’s top-producing mortgage companies. To ensure that we publish the most accurate data possible, all submitted data undergoes an extensive verification and auditing process prior to the publication of the rankings.

5 Things to Consider When Buying an Investment Property

Posted on by Emily Andrews

Buying an investment property can be a great financial decision; whether you want to purchase a primary residence, flip a property and sell it, or rent it out to make a profit. If you have chosen the latter option, here are a few things to take into consideration.

Down Payment: Be ready to put down a larger down payment on the house – at least 15-25%. Expect higher interest rates and slightly more restrictive guidelines.

Property Management: Are you ready to be a landlord or will you have a property management company handle the busy work? If you are taking on the task of being the landlord, be prepared to be available 24 hours a day. If something stops working in the middle of the night or while you are on vacation, you will be responsible for finding a solution to the problem in a timely manner. If you plan to hire a property management company, they will take care of the paperwork, finding tenants, fixing repairs, and more, but it will come at an added cost to you.

Expected Rental Income: Will the investment property make a profit or end up being a money pit? If this house is currently being rented out, ask the owners how much they charge in rent each month. Check out other rentals in the neighborhood and see what the average monthly rental income is. If it isn’t high enough to cover the mortgage and other expenses attached to the property, it may be best to pursue a different property.

Expenses and Costs: Do you have the funds for an extra expense account in case any problems emerge in the house? You never know when a problem will crop up. Whether the AC unit breaks or the refrigerator stops working, make sure you have enough funds to pay for sudden repairs and replacements.

Risks of Renting: If you don’t have tenants for a month, will you be able to pay the mortgage? If the current tenants damage the property, will you be able to afford the repairs? What happens if you go to check on the property and your tenants flew the coop?

Buying an investment property is a big decision, but if you do your research and are prepared for any and all possibilities, it can be a great investment and pull in some extra income each month! Talk to a loan officer near you for more information.

Smart Technology for Your Home

Posted on by Emily Andrews

Smart home technology has really taken off over the last few years. Every gadget and device you could need is on the market right now. From voice-activated assistants to robot vacuums, companies are creating products to make our lives a little bit easier. So what smart home options will be beneficial to you? Well, it depends.

If you want something simple or need a quick way to make grocery lists or check the weather without having to pick up your phone, a voice-activated home assistant may be right for you. Devices like Google Assistant and Amazon’s Alexa are the top choice for homeowners. Smart assistants are great gadgets to have for quick voice commands.

Smart lighting is a great feature to have if you aren’t home a lot, but don’t want outsiders to think your house is empty. Smart lighting allows you to control the lights in your house from your smartphone. Whether you are miles away from your home, or simply forgot to turn the light off in the bathroom but don’t feel like getting back up (don’t worry, we’re not judging you!), this feature is super convenient and easy to use.

Video monitoring systems are also great features to have in your home. The benefits are pretty obvious, cameras will allow you to feel safe and secure while you are in your home or out for the day. Alerts will typically pop up on your smartphone letting you know activity is present at your door. Some systems also allow you to video chat if someone comes to your door, adding a bit more security.

If you want a more hands-off approach or if you don’t feel comfortable buying and working these gadgets yourself, specifically video monitoring systems, there is some good news! There are many options to have a professional automation system installed for you. Added benefits of this include not dealing with the hassle of installing and keeping tabs on your devices and gadgets. The company that installed the devices will handle everything for you, monitor your security cameras, and let you know if any issues arise.

Having smart technology in your house is very beneficial as a homeowner and will be an added feature if you plan on selling your house. With so many options at different price points, it is easy to add a few key gadgets to your home and build from there. Whether you are looking for a simple device, a complete smart home system, or a fully automated household, the options are endless.

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