Your Home

Share the holiday spirit with guests with these simple yet festive ideas for decorating your front porch.

Outdoor holiday decorating doesn’t necessarily mean hanging lights on every square inch of your home like Clark Griswold in National Lampoon’s Christmas Vacation. Here are three simple ideas for decorating your front porch without frustration.

Hang a wreath without damage

There’s an easy way to hang a wreath outside that won’t damage your front door. You’ll need a plastic hook with removable adhesive tape and strong ribbon.

Place the hook upside down at the top of the door on the inside. Loop a ribbon through the wreath that’s long enough to go up and over the door (on the outside) and onto the hook (on the inside). Watch how it’s done here.

If your wreath isn’t too heavy, you can make an invisible hanger by replacing the ribbon with fishing line.

10-second holiday welcome

When you want to bring a festive air to your front door but don’t have a lot of time, a seasonal door mat will do the trick! From snowmen and reindeers to witty and classic greetings, there’s a style to match your personality. In 10 seconds you can toss down a holiday welcome mat that will set the mood for the whole season!

Welcoming arrangements

What’s more inviting than the scent of pine and the color green? Repurpose summer planters, urns, hanging baskets and window boxes by filing them with fresh pine and cedar branches. Then add accents. Adorn your arrangement with red dogwood branches, berries (faux or real), pine cones, ribbon and ornaments. See how it’s done here.

Bonus idea for woodworkers

Every woodworker has a pile of scrap wood. Clear some clutter out of your shop and make a wooden Christmas tree like this creative craftsman. Set this tree up on your front porch and you’ve got an instant focal point.

Just a touch or two is all it takes to create a warm welcome when your holiday guests arrive!

Consumers helps more than 1,000 members finance land, homes and home improvement projects each year. When you need a mortgage or home equity line of credit, call us at 800-991-2221. We’re here to help you get the home of your dreams!

This blog is brought to you by GreenSquare Properties, one of our realtor partners. If your business is interested in creating content helpful for our members, please contact us at 800.991.2221.

One of the biggest decisions a person will make in life is determining where to settle down and purchase a home. As this can be a difficult decision, we’re here to help by providing insight on why you should choose Grand Rapids, as well as offer a few tips on the home buying process!

Why Grand Rapids?

If the abundance of activities and events, ranging from the music and arts to the expansive food scene weren’t enough, reports have shown that Grand Rapids is one of the fastest growing economies in the nation. What does this mean for you? Whether you’re looking to start your career or continue prospering in your current field, Grand Rapids is full of opportunity. Here’s a fun fact: 91 percent of Grand Rapids commuters drive to work, and studies have shown that the average commute time is just 21.8 minutes, which is 4.8 minutes faster than the national average! Kentwood was even voted in the nation’s “Top 10 hottest ZIP codes,” proving to have higher employment rates and average incomes vs. the national average.

Earlier this year, Grand Rapids ranked #3 in the best cities for first-time homebuyers, where homebuyers were shown to have lower down payments. Grand Rapids also proved itself to be the best place to be an FHA borrower (59 percent of homebuyers in Grand Rapids qualified with less than prime credit ratings, according to FHA statistics through a LendingTree survey).

In addition, Grand Rapids is full of culture and experiences. The music scene has grown immensely, drawing in a wide range of top performing artists, as well as a variety of local talent. Grand Rapids is also home to ArtPrize, an international art competition that expands throughout the city with innovative art exhibits, both indoors and outdoors. Additionally, if you enjoy the symphony or museums, downtown is home to the Gerald R. Ford Museum, the GRAM, the Grand Rapids Public Museum and the Grand Rapids Symphony. If you’re looking for something to do outside of downtown, the John Ball Zoo and Meijer Gardens offer beautiful and fun options to visit and explore. If you’re into sports, GR is home to the Griffins hockey team, Whitecaps baseball and the Drive basketball team.

Not to mention, Grand Rapids was voted “Beer City USA,” so if you’re a craft beer lover, you’ll love brewery hopping around the city. There is also a wide variety of restaurants, offering a range of different cuisines that are both, unique and delicious!

We could go on (and on) about the various activities and events offered, as there are various outdoor activities as well and you won’t want to miss out on summer trips to the beaches on Lake Michigan! But for now, let’s take a look at some helpful tips to consider when buying a home.

What should you consider when buying a home?

There are numerous factors to consider when purchasing a home, including (but not limited to): location/neighborhood, whether to build or buy an existing property, future growth, school district, safety/crime stats, single-family home vs. condo or townhouse, as well as affordability.

With these factors in mind, it’s essential that you choose the right agent, and that’s where GreenSquare Properties can help! Our agents are extremely knowledgeable in the Grand Rapids area and will assist you in making confident decisions that stay within your budget.

Our agents can help you look at various neighborhoods and determine which is right for you. It’s important to look at the location in terms of nearest hospitals, pharmacies, grocery stores and any other amenities that will be important to you (and regularly used). Additionally, the school district will not only be important if you’re raising a family, but also due to its affect on the home’s value.

If you’re willing to sacrifice space and have a few extra amenities (and don’t mind paying a homeowners association fee) a condo or townhouse could be the right option instead of a single-family home. On the other hand, maybe you are adamant about finding the right house, but you aren’t sure whether to build or buy an existing property. Fear not! Our agents at GreenSquare Properties can guide you in the right direction in determining the pros and cons of your options. We value our clients and ensure that they get the closest option to what they’re looking for and in the price range that they’re most comfortable with. After all, just because you’re approved for a specific loan amount, does not mean you want to max out your budget!

We can’t express enough the importance of having a good (no, great!) agent to help guide you through the home buying process. We strive to simplify what can often be a difficult decision, and we hope that you choose GreenSquare Properties to help you find your dream home!

Sources:

http://realestate.mlive.com/realestate-news/2018/02/grand_rapids_ranked_no_3_in_us.html

https://magazine.realtor/daily-news/2018/02/16/first-time-buyers-may-have-it-easiest-here

https://www.usatoday.com/story/money/2018/09/26/hottest-housing-markets-u-s/1425665002/

https://www.rightplace.org/blog/city-of-grand-rapids-named-one-of-fastest-growing-economies

https://www.meetingstoday.com/magazines/article-details/articleid/29329/title/grand-rapids-is-flush-with-culture-and-activities

https://www.nerdwallet.com/article/tips-for-first-time-home-buyers

 

Your chimney flue may be out of sight but it shouldn’t be out of mind!

When the weather outside is frightful, a fire is so delightful! However, it’s vital to take precautions with fireplaces and wood stoves. Here are tips to help keep everyone around your hearth and your home safe.

Get annual inspections and cleaning when needed

When’s the last time your chimney was inspected and cleaned? Your flue may be out of sight but it shouldn’t be out of mind!

Frequency of cleaning depends on how much you use your fireplace or wood stove. The National Fire Protection Association advises homeowners to get an inspection once a year and have cleaning done as necessary.

If you don’t use your fireplace very often, don’t think you can skip the inspection. Birds and other critters may have been using your chimney while you weren’t! Debris from their nesting activity could make it unsafe to use your fireplace.

Only burn seasoned wood

Wood that is not seasoned, or dried, doesn’t burn well. If you try to burn it, you’ll get a lot of smoke and little heat. Plus, the tars and creosote from the wood won’t get burned up and will accumulate inside your flue pipe and chimney.

To make sure your split wood is dry enough to burn safely, allow it to season for six months to a year. When stacking firewood, make sure there is room for air to circulate around both ends of the logs. Also, keep the wood raised up off the ground. A log rack or pallet works well.

Check your detectors

Make sure your smoke and carbon monoxide detectors are working properly. In case of a fire or ventilation problems, these devices help save lives. If someone in your home is deaf or hard of hearing, learn more about smoke alarms that warn them of a fire with strobe lights or vibrations here.

After you give your chimney the TLC it needs, cozy up in front of your fire and enjoy the glow!

Consumers helps more than 1,000 members finance land, homes and home improvement projects each year. When you need a mortgage or home equity line of credit, call us at 800-991-2221. We’re here to help you get the home of your dreams!

When you understand how mortgage points work, you understand how they can save money for you.

When you first shop for a mortgage, you’ll hear about points. You’ll quickly discover that lenders aren’t talking about the score of a big game. In the financial world, points are fees that cover loan processing or reduce interest rates.

One point equals 1% of the mortgage amount. For example, one point on a $100,000 loan is $1,000.

Let’s take a look at the two types of points that are applied to new and refinanced home loans: origination and discount.

Origination points

Origination points are the easiest to understand; these are simply fees lenders charge to cover the cost of originating, processing and approving mortgage loans. Most lenders assess a fee to cover administrative costs. At Consumers, this is a flat fee vs. a percentage of the loan amount.

Discount points

If someone says, “You can buy down the rate,” they’re referring to discount points. A discount point is a one-time fee that lowers your mortgage interest rate. The rate reduction stays in effect for the entire term of your loan. The more discount points you pay, the lower the interest rate.

You may also hear discount points as “prepaid interest.”

Generally, paying a point will lower your interest rate up to one-quarter of a percent, although the discount may fluctuate. This means if you have a 5% loan and you buy one point, your interest rate may be lowered to 4.75%. Buy two points and your rate may drop to 4.5%.

To see exactly how much an interest rate that’s one-quarter percent lower would affect your monthly payment, use our Mortgage Payment/Amortization Calculator.

Pay in cash or roll into the loan

Borrowers often pay for points in cash when they close on their mortgage loan. However, points can be rolled into the loan itself.

Deciding to buy points

Home buyers consider two factors when deciding if discount points are worthwhile:

1. How long will I/we stay in this home? The longer you plan to stay in home, the more sense it makes to pay points.
2. What is the “breakeven” point in the loan? Typically, this is when the cost of the up-front rate buydown is recovered by a lower monthly payment. This is expressed in months. Generally, less than 36 months to recover the discount cost is ideal.
3. How much money do I/we have to put down at closing? You want to make sure you keep enough cash on hand for updates and repairs to your new home.

Get expert advice

You don’t have to figure out mortgage points alone! Our mortgage loan officers are here to guide you. Contact us online or call 800-991-2221 for help with determining when it makes sense to pay for points.

Consumers helps more than 1,000 members finance land, homes, and home improvement projects each year. When you need a mortgage or home equity line of credit, call us at 800-991-2221. We’re here to help you get the home of your dreams!

Your home is likely to be the largest purchase you make and potentially your largest ongoing expense. Because of this, it’s important to make sure you are fully prepared financially. Before you fall in love with your dream home, do these four things.

Run the Numbers

The market might be in a good position for buying, but if your finances aren’t yet ready to take on the expense of a home, you need to make a plan to get there. Remember that when you buy a house, you’re not only going to be making your mortgage payment; you’ll be responsible for taxes, insurance, and upkeep as well.

If you buy at the maximum of what your budget allows, you’ll find yourself strapped at the end of the month and vulnerable to falling behind should an emergency hit. By ensuring you have extra cash on hand, you’ll be able to start an emergency savings account to cover any unforeseen expenses.

Our website offers many calculators you can use as you decide what you can afford. The New York Times website also offers a calculator you can use to compare the cost of renting to buying.

Review Your Credit Report

If it’s been awhile since you last checked your credit report, request yours for free from AnnualCreditReport.com. You are entitled to a copy from each of the three major credit bureaus each year at no charge. You will want to make sure all of the information on the report is accurate prior to applying for a mortgage.

Decide Whether to Save for a Down Payment

Consumers offers a variety of loan programs for both first time buyers and those looking to “move up” or purchase a vacation home. For those looking for a primary residence, little-to-no down payment loans are available. They do often carry higher monthly and upfront fees than traditional loans with 20% down payments; however, with interest rates at historic lows, it’s rare that purchasers can save enough fast enough to make a difference in their monthly payment. Your Consumers loan officer can evaluate which options best suit your individual needs.

If you decide you should save up for a down payment, you can set aside your savings in any account that will allow you access to the funds when you decide you’re ready to buy. Certain accounts, such as IRAs, even offer additional benefits. If you meet certain requirements, you can avoid early withdrawal penalties when withdrawing from your IRA to purchase your first home. Applicants are encouraged to consult with a tax advisor regarding potential IRA and mortgage benefits.

Get Your Mortgage Pre-Approval

Apply today, get preapproval tomorrow when you get your mortgage from Consumers.* Apply online or call 800.991.2221 to discover the custom-made mortgage option that’s right for you. Our mortgage specialists will work with you to review your home financing needs and help you find the best solution.

If at any point in your decision making process, you have a question about home buying, we always invite you to contact us. Our loan officers look forward to helping you achieve your financial goals.

*Some restrictions apply. Offer subject to verification and credit approval. An active checking is required.

If You Can’t Sell Your Home, Should You Rent It?

Depending on where you live, the housing market can be on the upswing or settling to new lows. Selling your home should be a decision you weigh cautiously. However, if you have to move for a job relocation, family emergency, or because you can’t afford to maintain the house, should you consider renting it out? It may seem like an easy solution but consider all pros and cons before becoming a landlord.

Tax Implications

While you currently can write off your mortgage interest on your taxes, you can also write off repairs, advertising, property management and trips back and forth to a rental property. On the flipside, all monies received as rent are now taxable as income. Always consult your tax advisor to review your personal financial situation.

Cash Flow

While it may seem that receiving the rental income would be easy cash flow, you must be prepared for times when you don’t have a tenant. Even in the best markets, turnover and vacancies can be a huge drain on your cash flow if you still have an outstanding mortgage on the property. You will need to have access to cash for repairs and other incidental expenses that may occur.

Emotional Toll

Unless you are a professional landlord and not emotionally tied to the property, don’t underestimate the emotional toll maintaining your home while someone else lives there can take. It’s hard to see someone else in your space and possibly not caring for it the way you did. You will also have to field calls for complaints, repairs, showings, and general inquiries. An outside property management can be hired to handle a lot of those tasks, but you will always be involved at some level other than cashing the rent checks.

Take the time to run through the scenarios carefully, and if applicable get your spouse’s buy-in, before you make the decision to change the sign from “For Sale” to “For Rent.”

Source: PSB, Our Valued Partner

 

Whether you’re moving out for the first time or moving across country the third time, there are some basic tips that will help minimize the stress and save you money along the way.

Calling All Friends & Family

If there was ever a time to call in all past favors, moving is it. Send out a Twitter and Facebook request asking for help to pack your belongings. Host a rummage sale so your BFFs and siblings can pick through all the clothes they like to borrow anyway. Donate. Donate. Donate. Having less to pack will save you time, energy, and money on supplies and transportation costs. When the day comes to change addresses, enlist these same people for trucks, SUVs, station wagons and you might be able to skip the mover cost all together. Just remember that with family and friends, you don’t have any liability insurance if something is broken, damaged, or lost in the process.

Hire a Professional

Professional moving companies can offer assistance with packing, moving and storing. Many also sell moving supplies like boxes, cushioning materials and tape. IF you decide to hire a professional, get at least three quotes from companies that someone has referred—don’t just book a company you find online. (You may never see your furniture again.) Be sure to give the same information to each company so your quote comparison is accurate. When booking a moving date, consider a weekday which are often less expensive than weekends. You can also speed up the process by moving items to the first/main floor of your dwelling (if possible) to alleviate multiple trips up the stairs. Since moving companies charge by the hour, this could add up to big savings.

Supplies

Boxes can be expensive. If you have a long lead time for your move, start hunting for good moving boxes and put the word out to friends and families to hunt, too. Check your local grocery store or department store and ask when they get deliveries. Many would love to give away their boxes and they will have a variety of sizes. If you don’t mind ink on your hands or belongings, then newspaper is cheap and easy to come by as a wrapping. The better choice here is to call a local newspaper and see if you can buy the newsprint BEFORE they print. Many will sell scraps or the end of a roll. Bubble wrap and foam liners are also good packing supplies and can be found at large home stores or online. Prices vary so be sure to shop before you buy.

 Source: PSB, our valued partner.

Better rates and quick answers are just two reasons Ric Slauter chose Consumers for his mortgage.

When Ric Slauter needed a mortgage for his second home this spring, he started searching where many people would start—with the lender that financed his first home.

“The mortgage on my first house is with an online mortgage company. They live up to their name as fast, but I ran into some bumps in road,” Ric said. Mainly with rates and service.

Lower rates at Consumers

“The online company makes a big deal about their rates, but Consumers beat the pants off them!” he said. In fact, the company quoted an interest rate of 3.4% while Consumers offered a lower rate of 3.25%. “Not only did Consumers lower my interest rate, but they saved me more money in closing costs.”

Also, trying to figure out who could solve an issue at the online provider was a challenge. “It would take two or three phone calls to figure out who to talk to.”

Frustrated, Ric turned to Consumers. “Consumers is my principal financial institution. It’s my nature to keep my money as close to home as I can. When given the opportunity, I prefer to deal locally,” he said.

5-second answers

Very quickly he noticed how much smoother things went with Consumers. “Every time I called Brad [Wyant], my loan officer, he knew the answer to every question. Within five seconds I had an answer.”

Plus, he said, “My money does less for me and my community at a large national firm versus right here at the credit union.”

“My money is staying home this time. It’s very important to me [to bank locally]. It benefits the individual, your community, your neighbors. It can most directly affect your quality of life and happiness,” Ric said. If he decides to refinance his first home he says he’ll choose Consumers for that too.

For Ric, a senior director of drug metabolism research at MPI Research, the difference in mortgage service and rates was “a pleasant surprise.” The local, single point of contact made getting his mortgage easy. Ric can count on this quality of service for the life of his loan, too, because Consumers has a long history of serving the community.

“It was a real pleasure working with Ric and being a part of his success,” said Brad, Ric’s mortgage loan officer at Consumers.

“Many online lenders are great at advertising, but they can fall short when it comes to providing great service. Being able to ensure our members get the best deal possible is something I take great pride in as a local lender.”

“The whole process went very smoothly”

“The whole process went very smoothly, and Brad was great to work with. I highly recommend Consumers Credit Union for all your mortgage needs!” he said.

Thanks for choosing us for your mortgage, Ric! Local, commonsense decisions and competitive rates are two of our favorite ways to serve members. We’re honored to be your lender of choice!

To apply online with Brad, visit www.consumerscu.org/Brad.

Consumers helps more than 1,000 members finance land, homes and home improvement projects each year. When you need a mortgage or home equity line of credit, call us at 800-991-2221. We’re here to help you get the home of your dreams!

Rates stated are historical. Actual rates may vary based on credit history, term and collateral. All loans subject to approval.