The Sharpe Mortgage Team is committed to providing you each week with helpful information on topics such as the local market, home trends, homebuying tips, and more. This week we shared information on loan-to-value ratio, how to clean your washer and dryer, and limiting post-purchase repairs. Read more on these topics below.
When purchasing a home, you will likely hear the acronym LTV being thrown around. Lenders use loan-to-value (LTV) to gauge how risky a loan to a prospective borrower might be. Check out the above article to understand what goes into the calculation of your LTV.
Most people tend to forget that their washer and dryer need to be cleaned on a regular basis. Some of the residues from your clothes may end up collecting in the washer’s crevices. Mildew can also be a problem and make your clothing smell musty. Read more on how to give these appliances a good cleaning!
If you are purchasing a pre-owned home, your maintenance costs are likely to be higher than with a new home. While you may be able to negotiate with the seller to have certain repairs completed prior to the purchase, you may also have to pay out of pocket. We’ve rounded up a few tips to ensure you limit costly repairs and avoid money pits.
Is there anything that The Sharpe Mortgage Team can do for you this week? If you’re interested in purchasing a home or refinancing your current home in Winston Salem or the surrounding areas, give us a call! We can discuss your financial goals and discuss a loan program that might be right for you.