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So you’re looking for a home loan? Before you find yourself up to your knees in brand new terminology, brush up on these common phrases:

FICO score
These are the credit scores that the majority of lenders use to determine your credit risk, and the number makes a very big difference in terms of what interest rates you are offered on a mortgage. This score boils your credit history down to a three-digit number that tells a lender whether you’re creditworthy. What is the FICO score based on? The biggest players are past payment history and outstanding debt. The average FICO score falls between 600 and 800, the median being 723.

Full documented loan
A full documented loan means that both income and assets are disclosed and verified. Income is used in determining the applicant’s ability to repay the mortgage and formal verification requires the borrower’s employer to verify employment.

APR
This stands for Annual Percentage Rate. It’s a calculation that measures the net effective cost of borrowing. It takes into account some costs of getting the loan (including any applicable points), most loan fees and mortgage insurance. The APR is the most consistent means of determining price disparities between lenders.

Good Faith Estimate
This is a list of settlement charges that will occur with your new loan. Within three business days of receiving the loan application, the lender is obliged to provide the good faith estimate to the borrower. The good faith estimate gives the borrower the opportunity to review associated costs on the loan before proceeding.

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If you’re environmentally aware, you’re likely already doing several things at home to help the planet. Recycling, using less water and fuel and making smart purchasing choices can all help reduce your carbon footprint. Composting is a fantastic way to help out mama earth, and with many convenient options, it’s no longer just for those living in the country.

Below are 4 reasons you should consider composting.

It gives back. By composting your food scraps, you’re helping to keep hundreds of pounds of food waste from rotting in landfills. Instead, it will turn into healthy, nutrient rich soil right in your yard or compost space. If everyone composted, sources show we could divert roughly 36 million tons of waste from rotting away in landfills.

It creates healthy plants. If you have a yard or garden you tend to, composting is one of the top ways to help yield a healthy harvest. Compost feeds your plants a top notch diet and helps them grow big, strong, and more pest resistant.

It can save you dollars. If you’re used to purchasing fertilizer for your garden or yard, using your own composted soil can save you money, and nix the need for the harsh chemicals found in many store-bought fertilizers.

It’s convenient. Many city-dwellers don’t compost because they believe they don’t have the space for it, and who wants a rotting pile of scraps in a tiny apartment? However, there are many programs that support composting in cities. In fact, over 90 U.S. cities and communities offer municipal food-waste collection in a fashion similar to recycling programs. Some cities, like San Francisco, even require composting. The hilly city has a compost and recycling pick up routine that keeps a stunning 75 percent of trash out of their landfills. Do some research on your community to find a compost system.

Interested in more housing and sustainability tips? Feel free to contact me directly.

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So you want to add a little feng shui flavor to your home? The following tips can help foster a strong connection between your space and your energy, which can impact the way you feel when you move through your home, and attract positivity in your life.

1. Pay attention to your entryway. Everyone likes to make a grand entrance, right? Pay mind to how you decorate the front hall or front door of your home; it’s the first thing you see when you enter, and sets the tone for how you will feel as you transition into your space.

2. Add plants. Houseplants quite literally breathe life into your space. They foster growth and creativity, and clean your air. Win! Choose something easy to care for, like a fern or a succulent.

3. Balance your bed. To feel more grounded and balanced, make sure to even out each side of your bed. This means have matching nightstands and lamps on each side so the room looks and feels even. It also helps promote equal energy between you and your sleeping partner, should you have one.

4. Center your desk. If you work at home even occasionally, pull your desk away from the wall and face it out into the room, or at a window. Facing a wall can block creative energy. Open your space to let the energy move freely.

5. Create a gallery vibe. If you’re a fan of art or have a large collection of family photos, arrange them gallery-style, not in a straight line. Sharp edges (like those found in a straight line of photos) can be off-putting. Instead, arrange your photos in the floating, visually-appealing style of a gallery wall.

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Before you sign on the dotted line, take the following factors into consideration when purchasing homeowners insurance in order to make sure youre getting the best rate and proper coverage:

Things to ask:

1. How far away is the property from a fire department? Is it a professional or a volunteer-based establishment? Home insurance is bound to be less expensive for homes that are close to professional stations.
2. Are the plumbing and/or electrical systems outdated or unsafe? Insurance companies will charge more if your home is prone to damages.
3. Is the home located by a coast rather than inland? Consider if theres exposure to hurricane winds that could jack up insurance rates.
4. What about windstorms?
5. Would you need flood insurance? Many homes may need flood insurance, yet its not covered by general insurance programs. Instead, you would need to get insured directly by the federal government.

Things to do:

1. Get the home inspected before buying. A professional can tell you whether or not your new home comes with any serious risk factors.
2. Ask the seller for a copy of the homes claims history. This document will give you access to the number and type of insurance and claims filed by the owner, including reports on water damage, fire, and crime.
3. Have an agent find out exactly how much it will cost to insure your home, including earthquake and flood insurance, if necessary.

Things to know:

1. A well-built, well-maintained home that can fend off natural disasters will always cost less to insure.
2. Home insurance is meant to cover sudden and accidental disasters only.
3. The regular maintenance of the home is the owners responsibility. Insurance companies do not cover mold, small leaks or the repercussions of using low-quality tools or materials.

Source: Insurance Information Institute

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Is student loan debt weighing you down?

Pay beyond the minimum payment every month to reduce your principal and avoid wasting money on interest.

To trick yourself into making an extra full payment annually, split monthly payments in half and pay that amount every two weeks instead.

Consider refinancing and consolidating your loans with a lower interest rate.

Devote cash windfalls, such as pay raises or tax refunds, to paying off your loans.

Try getting a side job and putting the extra income toward your loans.

If you cant boost your income, trim other monthly expenses to make bigger loan payments.

By using these strategies, you might be able to pay off your loans faster.

Published with permission from RISMedia.