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Cracks in ceilings can be a sign of a larger problem, or they may be nothing but a cosmetic issue. But when selling a home, all flaws in the ceiling require attention.

Most ceilings will develop a few cracks over the years that are harmless and not indicative of some bigger issue. Repairing these is a fairly simple process.

Start by removing loose paint and drywall with a utility knife. Next, cover the crack with mesh tape, centering the crack within the tape. Spread drywall joint compound over the tape, using the putty knife to make the compound flat. Dont be afraid to use too much compound, because the next step is to sand down any ridges after the compound has dried. Be sure not to sand the tape away.

The final steps are to prime and paint. Painting the entire ceiling is best so that it looks uniform.

Larger cracks are more serious and require professional attention. So-called spider web cracks can stretch from a ceiling to walls and floors. These large cracks can be a sign of structural damage and should be repaired quickly. When a crack runs across the ceiling and continues down a wall, it is commonly a sign of structural damage caused by a weak wall stud.

Cracks combined with a so-called bow, or dip in the ceiling can be a serious challenge. If the support provided by joists weakens, a ceiling will sag”a professional should be contacted right away if this is happening.

Another thing to look at is the coloring of a crack. If yellow or brown stains are around the crack, its a sign of a water leak. Be sure you find the cause of the leak and have it repaired before you fix the crack in the ceiling.

Even if your ceiling is free of cracks, its well worth your time to take a close look when selling the home. Simply dusting or vacuuming your ceiling, particularly in the corners, can make a difference to buyers. Also, be sure to clean away any scuffs. If your ceiling needs a new paint job, consider painting it white, which can make the ceiling appear higher. And while youre up on that ladder, dust ceiling fans and vacuum vents that are high on walls.

Published with permission from RISMedia.

Hopeful homeowners applying for a loan who aren’t able to put 20% down upfront may be hearing their lender talk about Private Mortgage Insurance, or PMI. A PMI comes into play when a buyer, unable to come up with a 20% down payment, is seen as a risky investment. Instead of simply blocking the borrower from taking out a loan, the lender will require a PMI.

Typically, the PMI payment is paid monthly along with the overall mortgage payment. While this may seem bleak, for some it is the only way to secure a loan without that pesky 20% downpayment.

However, just because you have a PMI doesn’t mean you will need to carry it the length of your loan. To get rid of the PMI on the loan, the borrower can contact their lender and ask that it be removed after they pay down enough of principal to cover the 20%.

Really trying to avoid that PMI? You could also take out a smaller loan to cover the amount of the 20% down, although this usually comes at a higher interest rate.

Understanding the Debt-to-Income Ratio
When applying for a mortgage, your lender will be looking closely at your debt-to-income ratio, also known as a DTI. But what is your DTI? It’s a calculation, and to get it, your lender will be dividing your monthly debt by your monthly income. Let’s look closer.

To start, first add up what you spend each month on the following: mortgage or rent, minimum credit card payments, car loan, student loans, alimony/child support payments, and other loans you may owe. The total amount is what you spend each month on debt.

Next, calculate your monthly income by adding up your yearly: gross income, bonus or overtime, alimony/child support, and any other income. Once you have this amount then divide your yearly income by 12 to determine your monthly income. Now all that’s left is to divide your monthly debt by your monthly income. While the base line changes, the typical ratio of what’s considered to be the healthiest debt load for the majority of people is 43 percent or less.

It’s also important to note that there are two types of DTI ratios: front end and back end. The front end DTI includes your housing-related debts. The back end DTI includes housing-related debts as well as other recurring debt payments (things like student loans, credit cards, child support, etc.).

Published with permission from RISMedia.

Here are four striking countertops that will up the style factor in your kitchen…

Sintered Stone

Sintered stone combines the classic look of natural stone with all the benefits of a durable, man-made surface.

Soapstone

Whether youre going for a traditional or modern look, this natural stone works well in a variety of styles.

Caesarstone

Made from a blend of quartz and resin, Caesarstone is an increasingly popular manufactured surface.

Quartzite

With bold swirling patterns quartzite is a natural stone that can make any kitchen pop.

Published with permission from RISMedia.

Between work, family and fun, cleaning your home can feel like a drag”but most of us can’t afford to hire a cleaning crew, and so the task of weekly tidying and disinfecting is unavoidable. To help, below are three daily habits to a cleaner home.

Set a timer. Every night after dinner, set a timer for 15 minutes and have your family clean around the house: arm someone with disinfectant to wipe down the bathroom, set another loose on the living room picking up clutter, and hand out a trash bag to tackle any expired goods in the fridge. If you make this a daily task, cleaning your home will always feel a bit more manageable.

Do one room a day. If the timer method isn’t your thing (or if your family is a small one), pick a room or area each day to address: living room on Monday, bathroom on Tuesday, laundry on Wednesday, and so on. Depending on the size of your room, many can be handled in 20-30 minutes or less.

Multitask. Pair cleaning with something you enjoy doing, like listening to a podcast, phoning a friend, or watching your favorite show. Fold the laundry while you catch up on television, or wipe down the counters and surfaces while you gab with your sister or old roommate.

I hope you found this helpful. Contact me for more home and real estate insights and info.

Published with permission from RISMedia.

Looking at homes for sale can be the fun part of buying a house. The real work comes when youre picking a mortgage lender that can give you the best loan for your circumstances.

After detailing your income, expenses, down payment and a monthly mortgage you can afford, a lender will run a credit check and should be able to tell you the best options for the interest rate and loan product.

Here are some questions to ask as you comparison shop for a lender:

Whats the interest rate?
This will be based on your loan and credit score, and determines your monthly payment. The lower the interest rate, the lower the payment. Improving your credit score can help lower the interest rate you qualify for.

Fixed rate or ARM?
Fixed-rate loans have the same interest rate for the life of the loan, from 10 to 30 years. Interest rates on adjustable-rate mortgages, or ARMs, change after an initial period, such as a year, and then at regular intervals.

Ask how often an ARM rate will change, the index its tied to, and what the cap is on the interest rate during one period and the life of the loan. Make sure you can afford the higher rate. An ARM will have a lower interest rate than a fixed-rate loan, and can be a good idea if youre not planning on living in the home for long.

How much is the monthly mortgage?
Answering the first two questions will get you to this answer. Its a number you should already have in mind before looking for a house, and should be an amount you can afford.

Be sure to include other monthly costs, including insurance, taxes and, if required, private mortgage insurance, or PMI. This insurance is often needed if you dont have a 20 percent down payment and is meant to protect the mortgage company if you default on the loan.

Any fees?
One-time fees called points are due at closing and each point paid will lower your interest rate by 1 percent. Another option is to not pay any closing costs upfront and to have them rolled into the loan in exchange for a higher interest rate.

If you want to lock in the interest rate and points for a certain amount of time in case rates go up, you may have to pay a fee.

Also ask if there are fees for making extra mortgage payments so you can pay off the principal amount early. Some loans dont have prepayment penalties, but some do.

A lender should be able to help you find the best home loan for your finances. Just be sure not to sign a contract with them until youre satisfied youre getting the best deal with the best mortgage lender you can find.

I hope you found this information helpful. Please contact me for all your real estate information needs today!

Published with permission from RISMedia.