10399P

About Chris Dematteis

This author has not yet filled in any details.
So far Chris Dematteis has created 185 blog entries.

Build Equity with Maintenance

 

One of the easiest ways to build equity in your home is to simply maintain it. A well-maintained home adds a lot of value and equity to your home when it comes time to sell.

Below are a few maintenance tips to keep in mind throughout the year:

Remove leaves and other debris from gutters and downspouts and ensure downspouts run off several feet away from your foundation.
Inspect your roof regularly for damage.
Check your driveway for cracks.
Have your heating and air conditioning systems serviced regularly.
Replace your air filters regularly.
Protect your home from insects and other pests to prevent damage to the interior and exterior of your home.
Trim trees and bushes so that they are not touching your home.

Equity Prime Mortgage is committed to walking you through the home-buying process. Please contact us at 609-597-0007 or info@equityprimenj.com to further discuss how owning a home may be more beneficial for you.

Going Green to Build Equity

Going green is an effective way to increase your home’s equity. Look for cost-effective ways to improve your home’s energy usage. While improving your home’s energy usage will increase your home’s value and your equity, it can also save you money long-term through lower utility bills as well as through energy-related rebates from the government for certain updates.

Here are a few budget-friendly ways to make your home greener:

Skip pre-rinsing dishes
Replace your air filters often
Properly insulate your home and seal doors and windows

Here are a few items that are more costly, but can lead to big savings down the road:

Install dual-paned windows
Upgrade to a programmable thermostat
Install low-flow toilets and shower heads
Install ceiling fans
Purchase ENERGY STAR® appliances
Install solar panels

Equity Prime Mortgage is committed to walking you through the home-buying process. Please contact us at 609-597-0007 or info@equityprimenj.com to further discuss how owning a home may be more beneficial for you.

Build Equity with Home Improvements

Enhancing the size and quality of your home can increase its value and your equity. Many small projects can increase the value of your home.

Some projects are much more beneficial than others. Traditionally, kitchen and bathroom renovations bring a much higher return on investment than leisure amenities such as pools or outdoor kitchens. If you have the budget to do a kitchen or bathroom renovation, then you can significantly increase your equity.

If large renovations aren’t in your budget, consider taking on a few smaller projects in the kitchen and bathroom, as well as other areas of the home, to help increase your equity. Some smaller projects you may want to consider include:

Paint rooms, ceilings and trim
Add features like crown molding or board and batten
Update the hardware on doors and cabinets
Give your appliances a face lift with stainless steel contact paper (or go with a fun pattern!)
Add curb appeal to your home: give shutters and front door a fresh coat of paint and add some flowers and greenery
Update your curtains, rugs and throw pillows throughout the home as well as the shower curtain and towels in the bathroom
Remember, a successful home improvement project that builds equity is one where the cost does not exceed the added value.

Equity Prime Mortgage is committed to walking you through the home-buying process. Please contact us at 609-597-0007 or info@equityprimenj.com to further discuss how owning a home may be more beneficial for you.

Build Equity with Mortgage Payments

While slow economy and dropping home prices are out of your control, there are some simple ways to start building your equity. Below are some tips to help you.

1. Lower your mortgage balance.
Each time you make a payment, your mortgage balance decreases and your equity increases. As long as you’re making your payments on time, you’re building equity.

2. Make larger mortgage payments.
If you can make larger payments with the extra amount applied to your principal, you will pay off your mortgage faster and gain equity more quickly.

3. Make biweekly mortgage payments.
Making biweekly payments is the equivalent of 13 monthly payments instead of the typical 12 and will reduce your loan payoff time and increase your equity.

Equity Prime Mortgage is committed to walking you through the home-buying process. Please contact us at 609-597-0007 or info@equityprimenj.com to further discuss how owning a home may be more beneficial for you.

Buying v Renting: Lifestyle Benefits

In addition to the many financial benefits of buying a home versus renting, lifestyle benefits should be taken into consideration.

Gain a Community – when buying a home, you have the opportunity to live in a neighborhood. Many neighborhoods have associations that will plan events and gatherings so you can get to know the people who live around you.

Show Your Style – often with renting, you are not able to hang certain items on the wall or even paint. Buying a house gives you the flexibility to change up the wall colors, install carpeting or hardwood floors and truly make it your home.

Say Goodbye to Restrictions – when buying a home you gain the freedom of owning pets and other things you may be restricted to owning while renting.

Equity Prime Mortgage is committed to walking you through the home-buying process. Please contact us at 609-597-0007 or info@equityprimenj.com to further discuss how owning a home may be more beneficial for you.

What is Equity?

Equity can be a confusing part of homeownership. Equity Prime Mortgage would like you to understand what it means to have negative equity and provide you with tips to help you build equity through future blog posts.

Home equity is the difference between a home’s fair market value and the outstanding balance of all liens on the property – how much is owed.

Negative equity happens when the value of an asset falls below the outstanding balance on the loan used to purchase the asset. This often occurs when the economy starts to slow or home prices start to drop.

Unfortunately, a slow economy and dropping home prices are out of your control. There are, however, several things you can do to help rebuild your equity. In future blogs, we will provide you with tips to help build your equity.

If you have any questions or your financial situation has changed, please contact us at 609-597-0007 or info@equityprimenj.com to further discuss how owning a home may be more beneficial for you.

Benefits of Buying a Home

The decision to buy or rent a home can be challenging. On behalf of the team at Equity Prime Mortgage, we would like to share with you a few reasons as to why purchasing a home can be a smart financial decision.

Build equity – when you rent a home, your monthly payments can help you build credit. However, when you own a home, your monthly mortgage payments may allow you to build equity over time.

Stable Payments – often times, rent payments increase over time. With a mortgage payment, you are able to lock in a fixed-rate so your principal and interest will remain the same. Plus, a monthly mortgage payment may be less expensive than rent.

Tax Benefits – real estate property taxes, interest and other origination fees may be deductible on your income taxes.

The benefits of homeownership may await and Equity Prime Mortgage is here to support you through the process.

Please contact us at 609-597-0007 or info@equityprimenj.com to further discuss how owning a home may be more beneficial for you.

Salvatore & Ashley S.

February 2016

“Sue, Kali, and Eric were great to deal with. Very responsive and always got back to me right away. Such a pleasure and will certainly refer anyone I know their way.”

Loan Officer: Sue Paerels
Processor: Kali Emery

Douglas & Diane R.

February 2016

“After getting all the initial documents to the mortgage company, it was pretty seamless on our end. Everything was completed when promised. We are very satisfied.”

Loan Officer: Stephen Carpitella
Processor: Kendra Hammell

James W.

January 2016

“Couldn’t have been more pleased with entire experience. Patience, diligence, knowledgeable, throughout. Don’t change what you are doing.”

Loan Officer: Stephen Carpitella
Processor: Alexandra Troiano