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Even if you cant afford a home security system, you can protect your home and family with some quick, easy fixes that provide peace of mind without dipping deep into your pockets.

Try these tips from HGTV, the home and garden channel:

• Change the locks ” If you havent changed the locks since you moved in, someone out there has a key. Upgrade the locks, and while youre at it, check the security of your doors.
• Remove hidden keys ” If theres one under the mat or under a potted plant, you can bet a burglar will find it.
• Get a dog ” Dogs create a ruckus that can deter the average burglar. If you dont own a dog, put a sign on the gate warning that you do. For that matter, you can fake an alarm system by posting a security system decal.
• Use timers ” Digital timers enable you to randomly switch on interior lights and music to create the illusion that someone is at home.
• Add lighting ” Motion detector lights around the exterior of your home are an inexpensive way to deter a break-in. A light coming as someone approaches your doors is enough to send most intruders away.
• Install a camera “ Thanks to inexpensive DIY systems costing about $100, you can install a camera outside your home to let thieves know you have an eye on them.
• Install window stops “ They prevent windows from being opened more than six inches ” enough to allow for ventilation but not enough to let in a burglar. For slider windows, a broomstick cut to size will bar human access.
• Vacation smarter “ When you leave home for more than a day or two, stop mail and newspaper deliveries, as a pile-up advertises your absence. Let a neighbor know you will be away and ask him/her to put at least one of your trash cans on the street and take it in again. Last but not least, tell the local police when you will be away. Most departments will be happy to do an occasional observation drive-by.
• Dont advertise ” You never know who may be scanning your Facebook page or reading someone elses email. Dont announce your upcoming vacation except verbally to friends and family.

Hope this helps keep your home safe. Contact me for more tips and insights.

Published with permission from RISMedia.

If youre thinking about purchasing an expensive home, its important to understand how jumbo and conforming loans differ, and the pros and cons of each. Choosing carefully could help you save a lot of money over the term of your mortgage.

Key Differences
A conforming loan can only be used to borrow up to $453,100. For mortgages over that amount, there are jumbo loans. Since a homebuyer who chooses a jumbo loan is borrowing more money than the typical buyer, and since fewer people choose that option, a jumbo loan is much riskier for the lender. Therefore, jumbo loans require larger down payments and better credit scores than conforming loans, and often carry higher interest rates.

How to Get a Jumbo Loan
If you want to take out a jumbo loan, you’ll need to conduct research to find a lender. Since these mortgages are so risky, some banks and credit unions dont offer them at all. If you live in an area where real estate prices are generally well above the national average, it might be easier to find a local lender that offers jumbo loans.

Each lender sets its own guidelines that it uses to decide whether to approve or deny an application for a jumbo loan. If a lender denies your application because you dont have enough money for a down payment”or because your credit score is too low”dont despair. You might be able to find another lender with more flexible guidelines, although you could have to accept a higher interest rate.

What If You Dont Qualify for a Jumbo Loan?
If you have your heart set on a particular house, but its cost is above the amount you can borrow for a conforming loan and your application for a jumbo mortgage has been denied, you might still be able to own your dream home. You could take out two mortgages”one up to the conforming loan limit and a separate one for the remainder of the amount you need to borrow.

Depending on the lender(s) and your financial situation, you might need to make two down payments for very different amounts and have two different interest rates. That option could help you realize your goal of owning an expensive home, and you might wind up paying less per month with two separate mortgages than you would have with one jumbo mortgage since conforming loans tend to have lower interest rates.

Explore All Mortgage Options
Buying an expensive house is more challenging than purchasing a modest property, but that doesnt mean its impossible. A jumbo loan is one option, but if you cant qualify”or if the interest rate is too high”applying for two conforming loans could turn your dream into a reality”and could even save you money in the long run. Talk to several local lenders, get specific rates and estimated payments, and figure out which option would be best for you.

Published with permission from RISMedia.

Paying off your mortgage early and living mortgage-free so you can use the money for other things”such as travel and an early retirement”can sound like a pipe-dream thats impossible to get to, but it doesnt have to be.

If you have a 30-year mortgage, there are a few ways to cut that time in half, or at least come close to it:

Add a Monthly Payment Each Year
This easy step will cut about three years off a 30-year mortgage by spreading out one extra monthly mortgage payment over a year.

Start by dividing your monthly principal and interest by 12 and add that amount to your monthly payment. At the end of the year youll have made 13 payments in 12 months.

Doing that with a $200,000 mortgage will pay off a 30-year mortgage three years and three months earlier, saving you $18,000 in interest on a loan at 4.5 percent interest.

Refi
Lets say youre five years into a 30-year fixed-rate mortgage, such as the one listed above at 4.5 percent interest for a $200,000 loan. Refinancing to a 15-year loan at 4 percent will pay off the mortgage 10 years earlier and save you more than $60,000.

Your monthly principal and interest will increase from $1,013 to $1,345, so youll need an extra $333 per month to be able to afford it.

Shorter-term mortgages often have lower interest rates, so only refi your loan if you can get a lower rate to make the refinancing costs worthwhile.

If you dont want to refinance but have the extra money each month to increase the payment, then you can pay off the loan in 15 years instead of 30 by making the extra payments. Just make sure to let your lender know that the extra money should go toward the principal.

Use a Windfall
If youve received an annual bonus at work, large tax refund or other financial windfall, putting it toward your mortgage can take a few years off the debt.

Making an extra $10,000 lump-sum payment toward the principal balance on our mortgage sample above would pay off the mortgage two years and four months earlier, saving you $19,000 in interest.

Downsize
Its a drastic move, but selling your home and downsizing to a smaller, less expensive home is another way to lower your mortgage debt.

The profits may allow you to buy a smaller home for all cash. At the very least, a smaller mortgage will allow you to pay it off quicker by making the same payments you did on your old house.

Qualifying for a Home Improvement Mortgage

Making improvements to your home can pay off in a few ways. Additions, upgrades and general property improvements can increase the value of a home, and make it more comfortable to live in.

Using your home loan as a home improvement mortgage to pay for repairs and improvements to a home can be an easy way to come up with the money without having to dig in your bank account.

Home equity loans and lines of credit are two of the most common ways to finance home improvement loans. Theyre secured by the equity in your home, have low interest rates, and the interest you pay is usually tax-deductible.

Home equity loans are a type of second mortgage. Theyre secondary to your primary mortgage, meaning if you dont pay your mortgage and face foreclosure, the secondary loan will only be paid after the primary mortgage is paid off.

The usual home equity loan provides a sum of cash you can spend as you want to, and is a fixed-rate loan repaid over 10 to 20 years.

A home equity line of credit, also called a HELOC, is a line of credit that can be drawn upon as you need it. HELOCs are typically adjustable-rate loans when youre borrowing money, but can be changed to fixed-rate when you pay them back.

To qualify for equity loan, you need home equity, credit and income. Youll need 25 to 30 percent equity in your home so that you can borrow from it and have enough money left for a financial cushion.

For example, if your home cost $400,000 and you owe $300,000 on it, you have $100,000 in equity, or 25 percent. You can borrow a portion of that $100,000 through a home equity loan.

Most home equity lenders will allow you to borrow up to 80 percent of the equity you have in your home. In the above example with $100,000 equity, youd be allowed to borrow $80,000.

A good credit score of 650 or higher is usually good enough to qualify. Youll also need enough income to cover your debt payments, which include your mortgage and new home equity loan. They shouldnt exceed 45 percent of your gross monthly income.

With those ideas in mind, remember to shop around for a home improvement loan. The loan doesnt have to be with your current mortgage lender, but can be with any lender.

Published with permission from RISMedia.

We are living in a technology-driven world, and your homes connection with the digital world can be an important part of its appeal when it comes time to sell.

It wasnt all that long ago that technology wasnt a big factor in selling a house. It didnt matter what cable company or internet provider you had; buyers werent going to make their final decision on that sort of thing. But these days, good internet and Wi-Fi service can be key for many buyers. As we rely on our devices and laptops more and more”for work, school and staying in touch with friends and relatives”connectivity is about a lot more than watching TV and playing video games.

Let house hunters know which service providers are in the area, and even keep the brochures handy during open houses. Most companies offer discounts to new customers; having that information available to buyers can be helpful in attracting interest.

Todays digital world is largely wireless, but your home may still have some unsightly wires showing that arent necessary. Give your TVs, computers and printers a check to make sure there arent unused wires and cables that are all tangled up and making the area look messy.

Show off the technology you have. If you have an Amazon Echo, or similar device, use it to set lighting, turn on TVs or to play music. Likewise, be sure to highlight features such as a smart thermostat if your home has one. Not that you should invest in these technologies if you dont have them, but they can be a plus.

Get rid of old technology. If you have old TVs or computers that arent being used, consider discarding them. Everyone likes TVs, but having one in every room is too much. And older technology can make a home seem dated.

On the other hand, a state-of-the-art television or theater room can be a big attraction. If you have a family room, or home theater space, stage the scene. Have the TV on (to a family-friendly movie) and set up snacks (nut-free) with the proper lighting. Create a scene that parents will want to experience with their kids, or that will make those without kids dream of the perfect movie night at home.

Investing in brand-new technology doesnt make a lot of economic sense when selling a home, but taking some simple steps, and showcasing what you do have, can show buyers that your home will suit their twenty-first century needs.

Published with permission from RISMedia.

Those considering purchasing a new home may want to consider becoming a condo owner. Popular with every homeowner”from first-time buyers to retirees”condos offer many advantages over a traditional stand-alone property. Below are the top three.

Affordability: If you’re looking for a newly built home, a condo is likely to be less expensive than a stand-alone property. Why? Condos are often smaller in size than homes containing comparable numbers of bedrooms and baths. In addition, condos often share many building elements such as walls and roofing, so the cost of construction is often lower, resulting in lower pricing.

Low Maintenance: Condo life is a low maintenance life, as living in a condo means you’re likely paying Property Owners Association dues (POA), which cover many maintenance items such as landscaping, pest services, roofing, painting, and driveway repairs. Having so many services covered is appealing to busy professionals, parents of young children and retirees who may not feel up to mowing and raking. POA fees are typically relatively inexpensive, and for those too busy or tired to take on tasks alone, they are well worth the cost.

Amenities: Condos are all about top-notch amenities. From swimming pools and restaurants to golf courses and clubhouses with workout centers, many of today’s condo developments are filled with fantastic features. Expenses for building and maintaining these amenities are typically shared among condo owners, so you can enjoy these lux amenities at a very minimal cost.

Published with permission from RISMedia.