What’s the Difference Between a Fixed and Adjustable Rate Mortgage?

canstockphoto2922592Buying a home is exciting and, let’s admit it, a bit nerve-wracking. There’s so much to consider and a lot of complicated finance terms to understand. When you’re qualifying for a mortgage or shopping around for the right lender, you need to know how to interpret the information you receive.

One of the most important—and confusing—things to understand is interest rates. We want you to make the best mortgage decision possible, so here’s a quick tutorial on interest rates to help you walk away with the best deal.

What Is the Interest Rate?

Simply put, the interest rate is the price you pay for the money you borrow for your mortgage. The interest rate determines what your interest payment is every month. When you borrow money to purchase a home, your monthly payments will be split up between paying back the principal of the loan, the interest accrued for that month on the loan amount, and any other financed expenses like mortgage insurance, property taxes and other items that go into your escrow account.

The interest rate that you’re quoted when shopping for a mortgage will be the annual rate, but the interest will be calculated on a monthly basis. That means your monthly payment will be calculated based on the total amount you borrowed plus the interest, divided by the term of the loan, which is typically thirty years.

Two Basic Kinds of Mortgage Interest Rates

There are two main types of interest rates that you will be able to compare as you work on your mortgage loan: the fixed interest rate and the adjustable interest rate. We breakdown the differences below.

 

  • Fixed-rate mortgage: A fixed-rate mortgage means that the interest rate is locked-in for the life of the loan. So, if you take out a thirty-year mortgage with a 4% interest rate, that will be the rate you pay for the entire term of the loan. It won’t increase, nor will it decrease. This is a good option if you plan to stay in your home for a long time and want a fixed monthly mortgage payment that you can budget for each month. It also protects you from changes in the market; however, that also means that while your rate won’t go up when interest rates rise, it won’t go down when rates drop, either.
  • Adjustable-rate mortgage: Unlike a fixed-rate mortgage, an adjustable-rate mortgage (ARM) isn’t locked-in to one interest rate. This means that over the life of the loan, your monthly payment will fluctuate. Sometimes it may be a little bit more, and others it will be less, based on the current interest rates. Usually, the initial interest rate can be much lower than on a fixed-rate mortgage. This makes an ARM attractive to people who only plan to stay in their home for a few years. If you look into an ARM loan, be sure to note how often the rate will adjust—most ARM loans lock in the rate for a certain number of years, so you may be fixed at one rate for up to five years before any change will be made. You should also ask lenders how they calculate interest rates and select a lender that offers the most stable calculation.

 

The Bottom Line

Borrowing money for a home feels daunting, but when you understand interest rates and how they can impact your monthly payment—and the total amount you’ll end up paying over the life of the loan—you have a lot more control over the process.

7 Top restaurants in Weber County

food-1050813_640Are you a food lover and visiting Weber County? If yes, you must be looking for places where you can find the best food. The place has a lot of restaurants that can provide you the best food of the area. All you need to do is to pick up on the place from the list of top restaurants and you will be able to have the best food experience of your life. Here are the best restaurants of Weber County:

1.    Even Stevens:

It is the local sandwich shop of Weber County. This chain is working for a cause. For every sandwich they sale, some donations are sent to the local non-profit partner. These partners include youth futures shelter, Ogden-Weber Community action partnership etc.

2.    Red duck store and grill:

It is a family owned business that is providing best quality food to the visitors and local residents of the place. The best part about visiting this restaurant is that the people will be able to have a homey feeling when they eat at this place. They also serve Zeppe’s Italian Ice which is a UTAH’s treat.

3.    Jeremiah’s restaurant:

If you are finding something related to the tradition of Utah, Jeremiah’s restaurant is the place where you can have it. This is the place where you can find the famous Utah scone that is quite similar to fried bread and it is served with the honey butter. The restaurant is created into a wooden log cabin. The atmosphere is quite friendly and you can have the best time with your family at one of the best top restaurants of the area.

4.    Luis’s Mexican Cuisine:

This is the place from where you will be able to get the best Mexican Cuisine. If your taste buds are calling for Mexican food, this is the place that fulfill your desires.

5.    Rosa’s Café:

The next place you need to try in Weber County includes Rosa’s Café. Although it is a small location but the food that is provided is of high quality and good taste. According to the reviews, the food portion that is served is quite enough for a single person.

6.    Firestone grill:

A place which is a favorite for every person, no matter if he is a student, a traveler or a local. This place has the ability to attract each and every person due to its out-standing environment and world-class food.

7.    Jocko’s Steak house:

If you love fresh beef, this place in the Weber County will be a heaven for your taste buds. This restaurant is best known for its fresh beef either in the form of steak or in the form of burger fillet.

 

This was the list of top restaurants in the Weber County you need to try to have a great food experience.

Reference links:

  1. http://www.visitogden.com/dine/
  2. http://utahsadventurefamily.com/jeremiahs-restaurant-in-ogden/
  3. https://www.yelp.com/search?cflt=restaurants&find_loc=Weber+County%2C+UT

HOA: Are they worth it?

Homeowners associations (HOA) are essentially small governing bodies over a particular neighborhood or community. The HOA board consists of homeowners in the development or complex. This governing body establishes the rules and regulations that members adhere to along with the amount of dues or fees to be paid monthly, quarterly or annually. Although membership in the HOA is mandatory, there are many positives and negatives that go along with community living.canstockphoto40967861

Benefits:

  • An HOA offers low maintenance. Usually, trash, snow removal and landscaping services are handled by the association and included in the dues. This means less work for the home owner.
  • Many appreciate that the HOA regulates community appearance. Ensuring that your neighborhood will look good. Everyone must meet certain standards, which means no unkempt lawns or peeling paint.
  • Access to amenities including pools, fitness centers, parks and security gates all add to the appeal of an HOA.
  • Having a disagreement with your neighbor? No problem, third party management provides you with a built in mediator. You can easily take your grievances about next doors barking dog to the HOA board.
  • Everyone shares the maintenance costs. Maintenance of common areas, snow and trash removal, of the pool and other areas are shared responsibilities covered by the dues.
  • Living in an HOA reduces your responsibilities. Along with handling landscape, trash and snow removal, HOA sometimes carry insurance on the properties and cover roofing and other costs.

Challenges:

  • Naturally, the fees required by some associations turn people off. Although HOA dues vary, they can be in the hundreds per month. Make sure and budget not only for your mortgage payment, but the dues as well.
  • HOA rules, restrictions and dictations somewhat ties your hands. Some HOA have restrictions regarding paint colors and any additions or changes you want to make to the property must be approved by the board.
  • You could be hampered by the HOA financial woes. This means that an HOA facing financial problems or a lawsuit could hurt the sale prices of homes and the community and effect your ability to obtain a loan.
  • You might lose some of your freedom. Just as your hands could be tied, you will have to follow the rules and regulations of the HOA no matter how ridiculous you might think they are.
  • Surprise – they can spring assessments on you! The HOA board can decide to impose special assessments when needed for improvements or repairs.
  • They can limit your ability to rent. In order to get a loan for a property in the community the owner to renter ratio must be retained. Different lenders and HOA have differing standards, but these communities prefer that renters live somewhere else.
  • They can foreclose on your home if you get behind on your dues and assessments. This is usually a last resort. However, it can be done.

Making a decision:

First, weigh the pros and cons against your own lifestyle choices. Then, familiarize yourself with the ins and outs of the rules of the HOA before you buy to avoid surprises. Finally, you may find that HOA living can be equally satisfying and then again, you may find that it’s not for you.

Visit Utah’s National Parks

zion-national-park-2111843_640Adventure is just around the corner in Utah. With plenty of attractions to see, activities to do and places to go, Utah offers non-stop fun. That said, summer gets busy with work, family gatherings and outings with friends. Here is a list of the best national parks to visit this summer.   

Visit the Super Six: Arches, Canyonlands, Capitol Reef, and Goblin Valley National Parks along with the San Rafael Swell and Swasey’s Beach.

This astonishing excursion allows you to see multiple national parks and two geographical features. San Rafael Swell is a 75 by 40 miles giant dome-shaped anticline. Infrequent, powerful flash floods shaped this area into the sedimentary rocks, valleys, canyons, gorges, mesas and buttes you see today. Swasey’s Beach located just north of Green River provides the perfect place to cool off while touring the rest of the Super Six. A white sandy beach shaded by cottonwood trees and refreshing water make this beach the perfect spot for families to play.

Zion National Park

Utah’s first national park provides an opportunity to enjoy the outdoors and a rich geological history. The gorgeous sandstone cliffs exposing the red, pink and cream canyon entices people from all over the country. You can enjoy a large variety of unique plant and animal life while you are backpacking, biking, canyoneering, climbing, horseback riding, boating or bird watching through this natural wonderland.

Bryce Canyon

This national park is known for its hoodoos. Wind and water eroded odd-shaped rock pillars over time. Filled with a variety of hiking trails with easy, moderate and strenuous options, the park allows you to spend as much or as little time in the park as you want. You can even go horseback riding along some of the trails and go camping with your family and friends. Stargaze on one of the guided moonlight hikes.

Grand Staircase Escalante National Monument

One of the less crowded national parks in Utah, the Grand Staircase Escalante National Monument provides a sense of remoteness and tranquility. You can drive for miles down paved and dirt roads without ever seeing another car. However, you will see plenty of beautiful scenery mixed with canyons, arches, hills, waterfalls, forest and scrubland.

Tips to get your yard ready for summer

garden-1680802_1280Summer is coming. Bright lights, new growths, new activities, with all this, some of you must be thinking of changing their home a little bit. The yard is a part of your house that allows you to be creative to your maximum level. Grow new vegetables, plants new flowers and all this will be a part of home maintenance. Are you planning to redo your yard, if yes, following tips may help you in creating an appealing yard in your house:

Create a plan:
Nothing in this world is possible without a proper plan. You need to look for all the important points before you start working on your yard. Do plan and create a list of things you will be doing. Also, include the vegetable or fruits you need to grow this summer in your yard.

Use pest controlling techniques:
With summer season, the pests may also start growing up and getting out of their hiding places. This activity can damage the plants and the vegetables that are present in your yard. It is always better to use the best pest controlling techniques to minimize the damage from the pests.

Prune frequently:
The dead branches of trees and other plants in your yard may not look good. Moreover, they can also damage the health of other plants which is why it is necessary to prune them frequently. Pruning will promote the healthy growth of the plant.

Water properly:
The next thing to do is to water your yard in a proper way. For this purpose, you have to use water pipes or you can also use sprinkles for the consistent watering of the plants. Plants need a lot of water for the growth and heath, the need increases in summer due to a hot temperature which is why you need to pay special attention to watering your plants.

Create a combo:
Your yard will look more appealing if a combination of a flower bed and vegetables can be seen. It will provide a great appearance to it at the same time, you will be able to consume healthy food. You can select the colors of the flowers in accordance with the vegetables to create a soothing color scheme.

Separate some time for mowing:
It is important to properly mow the grass in your yard as it will give a complete look to it. Moreover, it is also essential to maintain the life of your plants. However, there are some important things that should be considered when it comes to mowing, it is best not to cut more than one-third of the height.

These are the tips that can be followed to prepare your yard for this summer season. However, you can also include your own creativity by adding up a fence that is decorated according to your taste or setting up a good yard furniture.

 

Reference links:
https://www.hometips.com/repair-fix/yard-garden-care-spring.html
http://www.wikihow.com/Prepare-Your-Yard-for-Summer

Tips for Getting Your Yard Ready for Summer

9 tips to prepare your garden for summer

7 Top restaurants in Davis County

pad-thai-2098017_640Planning to have a great food in Davis County? Well, the choice will be difficult as the place contains a lot of restaurants that worth a visit. As you go through the list of the top restaurants in Davis County, your choice may become difficult.  All of these places has their own specialties. Select the one that best suits your requirements. The list of best restaurants in the Davis County is as follows:

1.    Crown burger:

If you are a fast food lover, this is the place you need to select. This restaurant provides their customers with the food as they want. Their burgers are quite fresh and juicy which makes this place the best for everyone.

2.    Boston’s restaurant:

A place that provides dual facilities. Have the best food in town in combination to the current match. Take your friends and family with you to enjoy the best time. The atmosphere of the restaurant is purely designed to relax and facilitate its customers.

3.    China fortune:

The next option that is available for you is the Chinese cuisine. As a Chinese lover, you will be delighted to get the best Chinese food in Davis County. The prices are affordable and the food is of high quality which is a great combo.

4.    Sizzler restaurant Bountiful:

If you are planning to have a buffet with your friends and family, you can go to sizzler restaurant in Bountiful. In this place, you will be able to find everything of your choice. No matter if it is steak, cheesy toast, Malibu Chicken, endless salad bar or burgers, you name it, they have it.

5.    Rumbi Island grill Layton:

A restaurant with great food choices of Hawaiian cuisine. Have a burger, Caribbean or a Hawaiian sandwich, you will not be disappointed by the taste and quality of food.

6.    Bajio grill Layton:

Another place where you can have the best Mexican food is Bajio grill Layton. The place is best known for the quality of Mexican food they provide. No matter if it is the food, flavor or the service and decoration of food, everything is out-standing and will force you to visit this place again and again. Feel free to try this beautiful place.

7.    Pad Thai:

Thai cuisine, a favorite of a lot of people. If you are one of those who likes Thai food, the Pad Thai is the place you should visit. You can have fresh and delicious Thai food and some dishes comes with a pleasant addition of chef’s creation. The exotic taste and the comfortable environment will convince you to visit this place again.

These are the best top restaurants in Davis County you can try. Make sure you select the one that best suits your food taste.

 

Reference links:

  1. https://www.playindavis.com/places-to-eat/categories/casual-dining
  2. https://www.yelp.com/search?find_desc=Restaurants&find_loc=Davis+County%2C+UT
  3. https://www.tripadvisor.com/Restaurants-g2208512-Davis_County_Utah.html

For Sale by Owner vs Using an Agent

With the current huge increase in home costs, this spring may be a decent time to offer your home. The question remains whether to sell it yourself as an owner or use an agent.

One noteworthy benefit of selling yourself is sparing the strong 6% commission expense that real estate agents ordinarily charge to market and expedite an arrangement for your home. So on a home that offers for $250,000, the business expense would be about $15,000. You can abstain from paying this bill altogether in the event that you offer it yourself.

That is a significant investment funds, however since offering a house is something the vast majority of us will likely do on more than one occasion in a lifetime, a large number of us are awkward going through the process.canstockphoto2199400

Be that as it may, is it truly worth 6% of the price tag of your home in expenses to have individual direction all through the procedure? Here are a few things to consider:

BETTER PRICE

Real estate specialists solidly trust they can get you more cash through the specialty of transaction, use of neighborhood information, utilization of fantastic showcasing instruments, and access to a more prominent commercial center and capacity to qualify purchasers.

Real estate agents know how to showcase a home utilizing photos to expand esteem when showing it to imminent purchasers. They know it’s a complicated procedure, and as an outsider, can better deal with that. A decent intermediary can help get potential purchasers set up for a way of life that a house can offer. Likewise, potential purchasers don’t generally put stock in the mortgage holder.

In any case, valuing a house is likewise genuinely simple to do yourself. For about $300-$500, dealers can get an autonomous appraiser to give them an equitable incentive for their home. There’s likewise enough information online to get a sense for what your house is worth.

ACCESS TO QUALIFIED BUYERS

Good real estate agents will ask for money related articulations to decide a potential purchaser’s credit-value, and, on account of an all-money offer, check the assets. Most dealers would rather not sit around idly demonstrating their home to not really genuine purchasers.

A proficient agent has the foreknowledge and know-how to check precisely where the assets to buy the house are originating from.

Real Estate agents know exactly what buyers are worth investing time in and who are not worth the hassle.

SPARING TIME

Personally, I wouldn’t have sufficient energy or determination to legitimately sell my home, set up an assessment, and oversee telephone calls from would-be-purchasers and meeting lawyers. Great real estate agents say they can control merchants to lawyers who are reasonable and sensible, so that a dealer doesn’t stall out with one who will increase bills with pointless time and charges.

Picking either option relies on upon your circumstance and that you are so persuaded to go up against the procedure yourself. It’s decent to know there are alternatives and a lot of information on hand.

Weber County 2016 Holiday Activities

0e52385e8878634c163e131dfca6d967Weber County 2016 Holiday Activities

Start the holiday season off right with these great activities in Weber County.

Christmas Village

The Christmas Village seasonal attraction has grown to mammoth proportions since its inception in 1962.  Each year thousands of tourists and locals flock to the Christmas lights and cottages. Many local families have even made visiting Christmas Village part of their Christmas traditions.

Christmas Village events and attractions include:

Opening Ceremony and Electric Light Parade

Santa’s Castle

Breakfast with Santa: A ride on the Polar Express

Train Rides

Concessions

Onsite Christmas shopping

and Live Performances.

 

A Fairly Potter Christmas Carol

After the smash-hit success of Fairly Potter in 2013, The Ziegfeld Theatre in Ogden is bringing you a comedic sequel like no other. Inspired from the Harry Potter series as well as holiday favorites including “A Christmas Carol” and “How the Grinch Stole Christmas,” theatre cast and crew bring you a hysterical new Christmas musical that will make you laugh while warming your heart. Don’t miss the most magical show of the 2016 holiday season. Catch the show every day at 7:30 p.m. and Saturdays at 2 p.m. Dec 4-23. Tickets are $19 online and $20 at the door.

Forgotten Carols Christmas Tour

This timeless Christmas classic is coming to town for its 25th anniversary tour. Performances will be held all over Utah in Orem, Logan, Cedar City, St. George, Salt Lake City and Ogden. Don’t miss the northern Utah stop. Visit the Dee Events Center on December 12 for this special holiday classic starting at 7:30 p.m. Tickets start at $17.

Weber County Holiday Festival

Every year Weber County holds a special holiday celebration that features international nativity and holiday displays from all over the world. This year’s holiday festival was held from Dec. 2-6 from 11 a.m. to 9 p.m. Admission is free to the public. However, donations of unwrapped toys food pantry items benefit the Children’s Justice Center, The Christmas Box House and the Ogden Food Bank.

 

Homeowner’s Association

If you’ve been considering buying a townhome or condo you’ve probably been hearing the term HOA a lot. But what does it mean?

HOA’s, also known as Homeowner’s Association, is a governing body over a complex or community which comprises of people who are serving on the HOA board. When you purchase a townhome or condo, you automatically enter into the association. Before you think you can get out of paying the HOA fee, the fact is you can’t avoid this. The simple(ish) act of buying a home enters you into a contract with the HOA which means you must follow their rules, pay your monthly dues, and any special assessments.

While looking into buying a townhome and condo, it’s important to take some time to understand the rules of the HOA along with the fees. Each fee differs for each community so be sure to ask these questions.canstockphoto0280140

  • How often to HOA fee’s increase?
  • How are HOA fee increases set?
  • How large is the HOA’s reserve fund?
  • What do the monthly dues cover? Will you have to pay extra for trash, water, snow removal, etc?

There are also some benefits around having an HOA. Because of the standards placed by the HOA, you’re more likely to see yards that are well kept up and homes that are in good repair. In addition, you have less home maintenance (exterior-wise) because most HOA’s cover to have the common areas are taken care of by the association. This may include trash, snow removal, and lawn care.

In some cases, HOA’s may also provide recreational amenities such as swimming pools and tennis courts. To find out what your potential HOA covers, ask you realtor to get the information from the seller.

Ready to buy a townhome or condo? Give us a call today and let us help you find your dream home.

Looking for Great Food? Check Out These 4 Places

One of the best things about living in Utah, all the great food! There are so many awesome restaurants and local places worth checking out you’re going to have a hard time deciding which place to eat at first. cafe-691956_640

If you’re looking for something sweet, Waffle Love is heaven. With a variety of waffle concoctions to try and delicious toppings, this place is sure to be a top place to visit.

Craving a burger? The place you should check out is Black’s Sliders. This place not only has the best burgers, but has many other options (even some for vegetarians) that everyone is sure to enjoy.

Some other places worth checking out? Chow Truck is the place to go if you’re looking for Asian food or Fiore Wood Fired Pizza if you want that perfect pizza.  

Want some more suggestions on the best food places around Salt Lake? Check out this article by Move.org for all the best place and food trucks to explore.