Chic vs. Geek: What to avoid after you sign

So you’ve applied for a home mortgage loan. Want to know what to do – and what not to do – next? We’ve got a few tips to share.

CHIC (PEARL)

Consistency is the name of the game. Be sure to discuss any changes in income, assets, or credit with your lender so you don’t jeopardize your application. Don’t change your bank account, don’t apply for a new credit card or close any credit accounts, and definitely don’t co-sign any loans.

GEEK (KEVIN)

The banks are always watching because money never sleeps. So the best plan is full transparency. Avoid making any large purchases like a car or a major appliance. And if you receive a cash windfall, don’t deposit it into your bank account before contacting your bank or lender.

Did you receive this water notice?

If you live in Mountain View, you’ve probably received a notice like this one. It’s hard to make sacrifices when it comes to basic comforts like water, but we all need to do our part. I just hope we don’t have to give up hot water showers and our jacuzzi!

Please share any similar notices you’ve received in your neighborhood.

Chic vs. Geek: Preparing for Disaster

Most homeowners don’t think about tragedies like tornados, wildfires, and floods until it’s too late. But Californians have learned to prepare for the worst.

CHIC (PEARL)

When you live in a region that literally moves and shakes with unpredictable regularity, you owe it to yourself to invest in earthquake insurance. The California Earthquake Authority (CEA) is a reliable resource with a variety of options for owners of single-family homes, condos, and RVs. They also offer policies to protect renters..

GEEK (KEVIN)

You can pay for all the insurance you want, but if you truly want to protect your home and the loved ones inside from the next “big one”, you should consider a full seismic retrofit. Visit the CEA website to learn about the most common hazards and vulnerabilities and how to find a good contractor to help make your home more resilient.

Chic vs. Geek: Active Listening

Do real estate agents take into account feedback from prospective buyers they meet during open houses?

CHIC (PEARL)

The short answer: Absolutely! We had more than 160 people come through our latest open house each day over the weekend, and I talked to almost every one of them. What I heard was that the right light fixtures can make the house feel totally elevated. This house definitely has that vibe and more thanks to a series of unique skylights and recessed ceiling lights. And it only took a small investment from the total renovation budget to make a huge improvement that makes a great first impression.

GEEK (KEVIN)

What I learned was how much people love cooking on gas stoves. I can’t say that I blame them. But with many cities starting to ban natural gas appliances in new homes, the only way to get that new gas stove you saw on that cooking show is to renovate a home with existing gas service. So if you want to get your chef on, you should consider buying a newly remodeled home instead of starting from scratch. Or you could go green with an induction stove top. Either way, we’ll help guide you home.

Chic vs. Geek: HomeReady Mortgage

Are you a first-time homebuyer without a lot of money for a down payment? Fannie Mae has a program that might work for you, but there are pros and cons...

CHIC (PEARL)

Fannie Mae’s HomeReady program can help you make a property pencil out with a low 3% down payment and additional flexibility to apply gifts, grants, and cash-on-hand to your down payment and closing costs. You also get the benefits of affordable and cancelable mortgage insurance — unlike FHA loans — and valuable homeownership education so you understand all of the factors at play. Check this quick start guide for more.

GEEK (KEVIN)

So what’s the downside? Well, you need a good credit score just to qualify for a HomeReady loan, and there are income restrictions that could leave you on that bubble of making too much to meet the limit but not enough to make the purchase work. And a lower down payment means additional financing and higher interest rates, which may not fit your monthly budget. Find out if you qualify using this simple map tool.