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Saving up for a down payment is one of the biggest challenges for aspiring first-time homebuyers. A typical down payment can range from 5 to 20 percent of a homes purchase price”thats no small chunk of change. Although it might seem overwhelming to rack up thousands of dollars, practicing some discipline and using the right tactics can help you pull it off, making it possible for you to go from renter to proud homeowner.

To help you save for a down payment, consider these tips from the American Bankers Association:

Develop a Budget and Timeline. Start by determining how much youll need for a down payment. Create a budget and calculate how much you can realistically save each month”thatll help you gauge when youll be ready to transition from renter to homeowner.

Establish a Separate Savings Account. Set up a separate savings account exclusively for your down payment, and make your monthly contributions automatic. By keeping this money separate, youll be less likely to tap into it when youre tight on cash.

Shop Around to Reduce Major Monthly Expenses. Its a good idea to check rates for your car insurance, renters insurance, health insurance, cable, internet and cellphone plan. There may be deals or promotions available that allow you to save hundreds of dollars by adjusting your contracts.

Monitor Your Spending. With online banking, keeping an eye on your spending is easier than ever. Track where most of your discretionary income is going. Identify areas where you could cut back (nice meals out, vacations, etc.) and instead put that money into savings.

Look Into State and Local Home-Buying Programs. Many states, counties and local governments operate programs for first-time homebuyers. Some programs offer housing discounts, while others provide down payment loans or grants.

Celebrate Savings Milestones. Saving enough for a down payment can be daunting. To avoid getting discouraged, break it up into smaller goals and reward yourself when you reach each one. If you need to save $30,000 total, consider treating yourself to a nice meal every $5,000 saved. Thisll help you stay motivated throughout the process.

Published with permission from RISMedia.

If you need money for home improvements, college tuition or another purpose, you might be able to secure funds with favorable terms through a second mortgage. Before you do so, it’s important to make sure you understand the terms and potential risks.

How Does a Second Mortgage Work?
A second mortgage is a loan that allows a homeowner to borrow against the value of their house by using it as collateral. A second mortgage draws upon the equity that has been accumulated. Equity can grow when mortgage payments lower the loan balance and/or when the value of the house increases due to renovations or a change in the real estate market.

The loan that was used to buy the home initially is the first mortgage and is secured with a lien on the house. A second mortgage can be subject to a fixed or variable interest rate. A second mortgage typically has an interest rate that is lower than rates for credit cards, but a little higher than the rate for the first mortgage.

Types of Second Mortgages
One option is to receive a lump sum of money to be repaid over a period of time. A lump sum second mortgage would typically require monthly payments that consist of a portion of the loan balance and interest.

Another option is to open a home equity line of credit. You could borrow money once or several times, up to the available credit line, and gradually pay it back.

Pros and Cons of Second Mortgages
Since a second mortgage uses the house as collateral, you could probably borrow more than you would be able to through a conventional loan. The total amount that can be borrowed depends on the lenders policies.

To obtain a second mortgage, you would need to pay for an appraisal, origination fees and a credit check, which could total thousands of dollars. Since a second mortgage uses a house as collateral, falling behind on your payments could put you at risk of foreclosure.

Reasons to Get a Second Mortgage
A second mortgage should only be used for a legitimate purpose that is likely to benefit you in the long run. For example, it would make sense to use a second mortgage to make repairs and improvements that would increase your homes value and eventual sale price. A second mortgage could also be a good idea if you used the money to pay for a degree that could help you secure a job with a higher salary in the future. If you wanted to consolidate high-interest debts, you could obtain a lower interest rate through a second mortgage.

Is a Second Mortgage Right for You?
A second mortgage can help you meet your long-term financial goals. Before you take on a new loan using your home as collateral, be sure that you understand how it works, and make sure you can afford the monthly payments in order to avoid the risk of foreclosure.

This article is intended for informational purposes only and should not be construed as professional or legal advice.

Published with permission from RISMedia.

If you or someone in your family has allergies or asthma, HealthFinder.gov offers tips to help make your home a better place to breathe easier.

Identify Triggers
One major step is figuring out what causes yours or a family members allergy or asthma attacks. Different people will react to different allergens and irritants (things that can irritate the lungs). Consult a doctor about tests to learn what exactly is causing a reaction. Once you identify these triggers, you can take steps to get rid of or avoid those things in your home.

Make Bedrooms Safer
We all spend a lot of time in our bedrooms, so work to keep allergens and irritants out of yours.

• Cover your mattresses and pillows in dust proof or allergen proof covers to combat allergens, namely dust mites.
• Wash all bedding in very hot water (at least 130 degrees Fahrenheit) once a week. Go to a laundromat if the water in your home doesn’t get that hot.
• If you have pets that youre allergic to, like cats or dogs, keep them out of the bedroom.
• If possible, remove all carpets; its easier to keep bare floors clean.

Control Moisture
Keep your home dry to prevent mold. Mold, a common asthma trigger, can start to grow in wet or damp places within just one or two days.

• If you have a water leak, clean up the water immediately. Fix the leak as soon as possible.
• When you take a shower, run the bathroom fan or open the window for at least 20 minutes afterward.
• Check the humidity level in your home with a moisture or humidity meter (available at hardware stores). You may need to use a de-humidifier or air conditioner to keep the humidity level below 60 percent”between 30 and 50 percent is best.
• Safely clean mold or throw out moldy items. You may need to consult a specialist for bad cases.

Keep Pests Out
Rodents and cockroaches might cause allergy or asthma attacks, among other health issues, so practice pest prevention.

• Fix leaks in sinks and toilets.
• Put trays under your plants, radiators and refrigerator. Check the trays for water and clean them often.
• Store food, including pet food, in closed containers.
• Clean up crumbs and spills right away.
• Fill in cracks or holes that could be good indoor hiding places for pests.
• Put screens in your windows and doors.
• If you see roaches or rodents, call a pest control company.

Go Smoke-Free
Tobacco smoke, including secondhand smoke, can make asthma worse. And babies who live in homes where people smoke are at higher risk of developing asthma. If you smoke, make a plan to quit today. If you have guests who smoke, ask them to do so outside.

Breathing too much smoke from a wood-burning stove or fireplace can also cause an asthma attack. If you can avoid it, dont burn wood in your home.

For more help, consult a doctor about managing allergies or asthma.

Published with permission from RISMedia.

The positive or negative response we get upon entering a room is nearly instantaneous. We dont need to carefully examine each corner or turn over every pillow to decide if a room makes us feel good or not. But what gives us such a strong first impression? Many of the ways we experience a room have to do with a psychological response that happens behind the scenes. This is why most homebuyers end up choosing a house based on theemotional responsethey get within moments of entering a home”not the detailed list of pros and cons theyve made.

There are various factors that go into how we experience a room, and in fact, many of the principles of feng shui are based on the intangible influences of design. Here are three different ways we shape our impression of a room:

Senses
How we perceive a room with our senses tells us what we know to be true about the room and provides a way of describing it. Through our sense of sight we experience colors, each of which will elicit a different impression. Our eyes also pick up on important details such as patterns, scale and lighting. Our sense of smell is the most tied to memory, so a pleasant one, like scented candles, will connect us with memories that inspire positive emotions, while a foul smell, like garbage, will really turn us off. Textures used to decorate a room should also be taken into consideration. Materials such as silk, wood, linen or wool give satisfaction to our sense of touch.

Emotions
Our personal feelings significantly impact how we experience a room and will usually take precedence over our ability to rationalize. With that in mind, there are many decorating details that can trigger subtle (or not so subtle) emotional responses.

Art is one example. If the subject matter features a depressing scene or sad characters, it’ll definitely bring down the mood of a room. If you had some cut flowers on your coffee table, but they’ve wilted and dried out, thats another detail that’ll put a damper on someone’s emotional response. Its important to think about the kind of symbolism placed in a room and how it might influence our emotions.

Spatial Harmony
If furniture placement and scale is out of sync or doesn’t make sense, it can negatively affect how we experience a room, especially a small one. Chairs that are placed too far away from each other make conversation difficult, while being too close together will make a room feel cramped. It’s important to consider how the furniture, decorations and room are meant to interact with each other.

As you can see, theres a lot more to interior decorating than just picking the right shelf ornament. If you keep these principles in mind, guests won’t be able to quite describe why they feel so good in your home.

Source: Mikkie Mills/RISMedias Housecall

Published with permission from RISMedia.

Mold is extremely common and can develop slowly, often without homeowners being aware of it. Some types of mold are harmless, but black mold can cause headaches, coughing, sneezing, and irritation of the eyes or nose. It can also aggravate existing health problems, such as asthma. Often by the time a mold problem is identified, its so serious that it requires expensive cleanup or renovations.

How to Find out If Your House Has Mold
Sometimes mold is visible, but often it isnt. You may notice an unusual smell, or family members may have unexplained health issues. If you suspect you might have a problem, you can look for evidence of mold and sources of moisture. Check behind drywall or wallpaper, under ceiling tiles and carpet, inside ducts, and in walls around pipes for excessive moisture caused by leaks, flooding, or inadequate ventilation or insulation.

How to Deal With Mold
If the amount of mold is limited, you may be able to dry out the area with fans or ventilation and clean or dispose of moldy items. Nonporous or semi-porous items may be able to be cleaned, but you should dispose of porous objects that have been contaminated with mold. Research appropriate methods and safety precautions before you start cleaning.

For a widespread mold problem, youll need to have professionals assess the situation. Depending on the location and extent of the mold, they might be able to clean it and make repairs to prevent further mold, or you might need to have sections of your house gutted. If your home requires major cleaning or renovations, your family may need to relocate temporarily to protect your health.

Before you hire a mold removal company, check the companys license, call references and find out if any serious complaints have been filed against the business. Get evaluations and estimates from two or three companies. Be prepared for the final bill to be higher than the estimate if the company you hire uncovers more damage once the cleaning and restoration process begins.

How to Prevent Mold
Look around your home periodically for areas where moisture may accumulate or leak into your home. Pay attention to areas where you dont typically look, such as the gutters, attic and crawlspace. Have the roof inspected and any leaks repaired. Check the caulk around windows, sinks, showers and bathtubs, and replace it if necessary. If you notice any plumbing leaks, even ones that seem minor, have them fixed so they dont get worse and lead to mold.

Take a Mold Problem Seriously
Mold is extremely common, and many people dont realize their home is affected until they begin to experience health problems. If family members have had unexplained symptoms or you have noticed an unusual smell, you may have mold. Investigate and take action immediately if you find a problem. Controlling moisture and addressing any leaks promptly can prevent mold or keep it from getting out of control.

Published with permission from RISMedia.