Blog | Archives for May 2019

Five Ways To Make Your Home Energy Efficient

By Southern Trust Mortgage
May 20, 2019

When you hear or see the words “energy efficient”, what comes to mind? Does the phrase conjure images of affixing solar panels to your roof or devoting a quarter of your backyard to composting? Making your home more energy efficient does not necessarily require you to spend a lot of money for costly changes. In fact, many changes can easily be folded into your current budget at little to no additional cost and without causing a single discernible hitch in the regular operations of your home. Below are just a few examples of how you can make your home more energy efficient.

1. Watch your water use!

You’d be shocked at how much water you can save just by turning off the faucet when you brush your teeth or wash your face. According to the US Environmental Protection Agency, the average consumer can expect to see a savings of about $170 a year through small changes just like that. Other ways you can save water can be switching to showers in lieu of baths and saving laundry loads until you have a full load to wash (half-loads use the same amount of water as a full-load but need performed twice as often). Additionally, opting to wash clothes with cool or cold water instead of warm or hot as often as possible will save energy overall.

2. Do you feel a draft? Seal it up!

Drafts during the extreme heat of summer or the severe cold of winter can make your house’s AC or heating work overtime, respectively. Trying to heat or cool a house that isn’t sealed properly is not just frustrating, but it can send your energy bills skyrocketing. Assess your home. Are the windows not sealed tightly? Perhaps the doorways aren’t closing as flush as they should be. A little bit of weatherstripping is fairly inexpensive and, when placed over gaps in windows or door frames, can help to keep your energy costs and needs low. Once your heating and cooling systems are no longer working overtime keeping your house at optimal temperature, you may see the life of these appliances extend, too.

3. Natural light is the best light.

Not only is it beautiful, but natural light is inexpensive; literally, it’s FREE! If you’re lucky enough to have a house that offers a decent amount of natural light, take advantage of it. Keep the lights off as much as possible during the day, open the blinds, and let the sunshine in.

4. Switch to energy efficient appliances.

Like the name suggests, switching to energy efficient appliances will help you reduce the energy your home uses. Energy Star is the designation given to products that have met or exceeded the standard of regular appliances while having less impact on your energy use and costs. Products that are considered Energy Star use 10-50% less energy than their counterparts. That doesn’t mean you must go out and purchase energy efficient products now, but as the larger appliances in your home -like the dishwasher or the refrigerator- require replacement, look into replacing them with a lower energy alternative.

5. Why not ask an expert?

If you want to make your house as energy efficient as possible, ask a professional. Many energy providers throughout the US offer audits through public utilities or energy conversation departments at little to no cost to you. With an energy audit, a specialist will come to your property and observe how energy is consumed currently and make suggestions on how you can improve your home’s energy use.

Making your home more energy efficient can be little steps or major changes, depending on what you desire as the homeowner. At Southern Trust Mortgage, we offer an Energy Efficient Mortgage program, which can be used to finance energy efficient home improvements. If this or another type of mortgage interests you, contact us today.

Blog | Archives for May 2019

4 Things Graduates Need to Know About Credit

By Southern Trust Mortgage
May 15, 2019

Whether you’re graduating high school or finishing college, it’s never too early to start thinking about building good credit. A good credit score will help you purchase a car, a house, and make plans for your future. Although you may not be planning to buy a home at this point in time, everything you do now regarding your credit will affect it for years to come. That’s why it’s so important to make responsible, informed choices regarding your credit.

1- What is credit and why is it so important?

Credit is how lending institutions and creditors measure your financial stability and power. Your credit score is a numerical representation of your credit. When you are buying a home, a car, or other major purchase, a lender will look at your credit score to determine whether they can work with you. Your credit score will influence the interest rates, what types of loans you will be eligible for, and even if you will be approved for a loan at all. That is why having a good credit score is so important.

2-What is considered a “good” credit score?

Credit scores range between 300-850. Generally, a very good credit score is 740 or higher, with 670-739 being good, 580-669 being fair, and 300-579 being poor or low. You are entitled to one free credit report a year without it affecting your credit score (too many hard credit checks throughout one year will lower your score).

3- How do I build good credit?

Simply put, building good credit requires good credit habits. That means that you are making regular payments on time on each of your accounts until the balance is paid off, be it a credit card, car payment, or another type of installment payment plan. If you miss payments habitually, it will affect your credit score; if your credit score dips enough, it will therefore affect whether companies feel they can rely on you to pay off your credit in the future, which may cause them to decline lending to you.

4- How hard is it to fix bad credit?

Late payments, collections, bankruptcies, and foreclosures are included on your credit report for seven years (with the exception of bankruptcies, which are included for ten). Bad credit canbe fixed, but it will take time. Certain knocks to your credit, like foreclosures, will bar you from major purchases like a house for quite a few years. As much as possible, pay your creditors on time, and if you can, pay more than the minimum payment.

Tips just for high school graduates:

Look into a secured credit card: Unlike other credit cards, secured credit cards require a security deposit of hard cash to qualify. Used responsibly, it will help you build your credit score and creditors may even raise your limit or offer you an unsecured credit line after a period of use with reliable payment has passed.
Avoid using credit cards for large purchases: tempting though it is, try to keep your credit card purchases to small items that you would have bought with cash or debit, like gas or groceries. Pay off the purchases within a few days and your score will gradually go up!

Tips just for college graduates:

About your student loans: College graduates are usually given a grace period of six months before they receive their first bill for their student loans; at that point, you will need to begin paying or make payment arrangements. Failure to pay your student loans in a consistent manner will affect your credit score, so make sure you speak with your student loan administrator to formulate a payment plan that is manageable for you.
Think twice before co-signing: if you’ve already established good credit, there’s a chance friends may ask you to co-sign for them on a car payment or apartment or other large purchase. While the desire to help is understandable and admirable, know that if you co-sign, you are guaranteeing that payments are made even if you are the one that has to make them. If the person you co-sign for misses a payment, it will reflect on your credit score as well. Keep this in mind if you ask someone to co-sign on your behalf, also.

Ideally you will never experience a single hitch with your credit, but if ever your credit is in need of rehabilitation before purchasing a home, Southern Trust Mortgage has you covered. Our in-house credit specialist can help you get and stay on-track with your credit so you can one day meet your goal of homeownership. Contact us to learn more.

Blog | Archives for May 2019

May is National Moving Month

By Southern Trust Mortgage
May 14, 2019

May is National Moving Month. The most positive thing people say about moving is that “it’s not fun.” The most common characterizations of this major life event range from “frustrating” to “downright miserable.” Still, U.S. Census data show that an average of 35.5-million Americans relocates each year.

Whether you’re planning a change of scenery or not, there’s a moving preparation process that everyone – homeowners and renters alike – should consider doing: Perform a household inventory. Even if you’re not moving, a detailed account of your possessions can help you determine how much insurance coverage you need and with claims in the event of theft or disaster. If you are moving, an inventory will help you get more accurate quotes from moving companies – and keep them honest with their estimates. The insurance benefits alone are worth the time for everyone who finds value in protecting their possessions with homeowners or renters policies.

The household inventory process is simple but time-consuming. Room by room, you’ll want to describe your items, using details like sizes, colors, manufacturers’ names, models and serial numbers. It’s a good idea to note the date, price paid and purchase location as well, along with receipts if you have them. Identifying and cataloging everything you have may feel like a monumental chore, but technology can ease the burden.

There are many apps available that can help direct you, speed the process, organize and store your information. There are general apps like Sortly and NestEgg that accommodate photos and provide templates for different rooms and areas like garages, sheds, and playrooms. Other apps like MyStuff are helpful to people with collections of items and Magic Home Inventory is set up for multiple properties.

Once complete, you’ll want to provide your household inventory records to your insurance carrier or potential moving companies when seeking quotes. Be sure to update your household inventory when you make purchases. You’ll find that maintaining your records is fast and easy – once you get through the first accounting. You may decide to simultaneously purge some things you don’t want, use or need any longer. And, getting in touch with everything you own might cause you to think twice before buying more stuff!

Blog | Archives for May 2019

5 Tips for Painless Unpacking

By Southern Trust Mortgage
May 10, 2019

Congratulations! You’ve successfully bought your home! After weeks of document-gathering, inspections, appraisals, and all the other requirements that come with purchasing a new house, you’ve signed the closing paperwork and your real estate agents has happily handed you the keys. Now, it’s time to move in! We’ve compiled just a few tips you may want to keep in mind as you undertake the moving process.

Tip #1- Pack well!

Preparation is key to any process going smoothly, and unpacking is no different; in order for your unpacking process to go forward with very few hitches, you’ll need to pack well and efficiently. Some ways you can pack well include clearly labeling each box clearly with the room they’ll be placed in when you arrive in your new home. You can also label the boxes by priority, placing a “1” on the boxes you want to unpack first, “2” for what can wait a little, and so on and so forth numerically as you have chosen to prioritize your belongings. Also, consider using packing as an opportunity to offload items you no longer need or haven’t used in a long time, be it clothing, appliances, etc. Donating items to a charity service usually has the benefit of being tax-deductible, and many charity services offer to come pick-up larger items, like couches, so you don’t have the hassle of carting things you don’t plan on keeping to your new home.

Tip #2- Clean before you unpack!

As anxious as you may be to get all your boxes inside so you can go about the business of making the house a home, try to hold off just long enough to give the place a quick cleaning. Although previous owners have surely cleaned (something you would have checked for during your final walkthrough), wipe down the counters and light switches with a disinfectant, vacuum any carpeted places in the house, sweep and mop if you’d like, and spray the bathroom surfaces with a disinfectant. This will also extend the amount of time until you next have to clean the whole house. There! Now you can unpack without worrying about germs or dust!

Tip #3- Create a map and label boxes according to their place on the map.

If you want to forego more descriptive labels or prioritized boxes, creating a map of the house and assigning numbers to different rooms could very well be an unpacking method you will prefer. For every room number you assign, give boxes that belong to the corresponding rooms the same number. Being able to see at a glance which box goes where can help when you’re unloading masses of boxes from the moving truck.

Tip #4- Carrying clothes in garbage bags (but be mindful not to mistake them for trash!)

Rather than place your clothing in boxes, putting your clothing in garbage bags allows you to access them quicker and easier and keeps them cleaner than placing your clothing into cardboard boxes, which are quick to create dust and leave residue on clothing. While you’ll be sorting through dozens of boxes, you’ll likely only be bringing a few garbage bags with you, making it easier to find your clothing. Garbage bags can also double as garment bags for the clothing you keep on hangers; simply cut a slit in the bottom of the garbage bag and push the hook of the hanger through, then tie the bag off at the bottom.

Tip #5- Unpack toiletries early on!

You’ll be busy unpacking, but you’ll still need to use the facilities in your new home! You can make this easier by bringing a separate bag of toilet paper, paper towels, and travel-sized hand soap until you get your permanent toiletries unpacked, or have the boxes containing items for your bathroom prioritized. Make sure you have at least one set of towels and shampoo, conditioner, and body wash readily available; after all the hard work of unpacking, you’ll want to clean up before going to bed for your first well-earned night’s rest in your new home!

Since 1998, Southern Trust Mortgage has been proud to help countless families purchase new homes. Contact us today so we can help make home happen for you.