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8 Ways To Winterize your Home

November 10, 2017 by Bobby Tenorio

8 Easy Ways to Winterize Your Home

1 Change Furnace Filters

hepa air filter
 Yes it’s easy to forget, but it’s important to replace or clean furnace filters once a month during the heating season. Dirty filters restrict airflow and increase energy demand. Here’s a worry-saving tip: Mark a monthly check on your calendar.

Also consider switching to a permanent filter, which will reduce waste and hassle. Did you know that disposable fiberglass filters trap a measly 10 to 40 percent of debris? Electostatic filters trap around 88% and are much better at controlling the bacteria, mold, viruses and pollen that cause illness and irritation. They cost $50 to $1,000 or more. Another good choice is a genuine HEPA filter (like the one pictured), which can remove at least 99.97% of airborne particles. HEPA filters are based on Department of Energy standards. But avoid “HEPA-like” filters, which can be significantly less effective.

If your entire furnace is in need of replacement, it will cost a lot more—but replacing an inefficient burner for a modern machine will save you every month through the heating season. Be sure to take advantage of federal tax credits for new furnaces, which can cover 10 percent of cost up to $500 or a specific amount from $50 to $300.


2Run Fans in Reverse

ceiling fan
 Most people think of fans only when they want to be cool, but many ceiling units come with a handy switch that reverses the direction of the blades. Counterclockwise rotation produces cooling breezes, while switching to clockwise makes it warmer. Air pooled near the ceiling is circulated back into the living space—cutting your heating costs as much as 10 percent!
 

3 Winterize Your A/C and Water Lines

window air conditionerThis one’s really easy, and it will even save you a few pennies next summer, too: Simply drain any hoses and air conditioner pipes, and make sure you don’t have excess water pooled in equipment. If your A/C has a water shutoff valve, go ahead and turn that off.

Similarly, make sure any hoses are drained and stowed away neatly. Turn off exterior water spigots. It’s also a good idea to seal any water leaks around the place—and don’t forget to remove any window A/C units and store them so you don’t invite cold drafts all winter.

If you’re in the market for a new air conditioner, the federal government will reimburse 10 percent of cost up to $500, or a specific amount from $50 to $300. This tax credit will expire December 31, 2017, so get it now.

 

4 Turn Down Your Water Heater

woman taking a shower
 
 

While many conventional water heaters are set to 140 degrees Fahrenheit by installers, most households don’t need that much steam, and end up paying for it—in dollars and the occasional scalding burn. Lowering the temperature to 120 degrees Fahrenheit (or lower) would reduce your water heating costs by 6 to 10 percent.

If you start to wonder why you need a tank at all, then you may be ready for a tankless water heater, or to go solar. If you are in the market for a new water heater, take advantage of the federal tax credit, which pays 30 percent of cost with no upper limit. Tax credits for Solar Energy Systems are available at 30 percent through December 31, 2019.

 
 

5 Dodge the Draft(s)

draft snake, which helps you save on high home heating oil prices
 
 

According to the U.S. Department of Energy, drafts can waste 5 to 30 percent of your energy use. Start simple and adopt that old Great Depression fixture—the draft snake, which you can easily make yourself. Just place a rolled bath towel under a drafty door, or make a more attractive DIY draft snake with googly eyes, felt tongues and the like. You can use any scraps of fabric, even neckties, and fill with sand or kitty litter for heft.

 

6 Install Storm Doors and Windows

a man and woman install storm windows
 
 

The simple act of installing a storm door can increase energy efficiency by 45 percent by sealing drafts and reducing air flow. Storm doors also offer greater flexibility for letting light and ventilation enter your home. Look for Energy Star-certified models.

Similarly, storm windows can make a huge difference when the cold wind starts blowing. It may be a pain, but it is well worth it to get them out of the shed or attic and install them for the season. (Make sure each is securely shut—they don’t do much good if you leave them in the up position by mistake!)

Federal tax credits are available at 10 percent of cost (not including installation costs), up to $200 for windows and skylights and up to $500 for doors. Cumulative maximum tax credits for windows, doors and skylights for all years combined is $500.

 

7Give Your Heating System a Tune-Up

trane energy star furnace
 
 

You probably already know that cars need periodic tune-ups in order to run their best. Well, the same is true for heating equipment. Keeping your furnace clean, lubricated and properly adjusted will reduce energy use, saving up to 5 percent of heating costs.

The good news is many utilities offer free annual checkups by qualified technicians—but you often have to call early, as HVAC crews get backed up once heating season starts. Some furnace manufacturers and dealers also offer free or discounted inspections.

If your entire furnace is in need of replacement, it will cost a lot more—but replacing an inefficient burner for a modern machine will save you money every month through the heating season. Be sure to take advantage of federal tax credits for new furnaces, which can cover 10 percent of cost up to $500 or a specific amount from $50 to $300. This tax credit expires December 31, 2017, so act now.

8 Mind That Thermostat

honeywell programmable thermostat
 
 

It’s easy to forget to turn down the heat when you leave the building, but doing so is one of the surest ways to save money. Most households shell out 50 to 70 percent of their energy budgets on heating and cooling, so why pay for what no one uses?

For every degree you lower the thermostat during heating season, you’ll save between 1 and 3 percent of your heating bill. Make it easier with a programmable thermostat. They are widely available for as little as $50, and the average family will save $180 a year with one.

Go a step further and ask your local utility if it’s making smart meters available in your area as part of recent federal smart grid investments.

Filed Under: Uncategorized

BACK TO SCHOOL TIPS

August 4, 2017 by Bobby Tenorio

MonthlyTouch

With another school year just around the corner, it’s time to shift out of summer-fun mode and back into your normal routine. Whether you’re sending little ones off to kindergarten or teenagers back to high school, make this transition an easy one with the following planning tips:

Start a routine early. A week or two before school starts, begin practicing your daily regimen, such as setting a bedtime and eating breakfast at the same time each morning. When the first day of school rolls around, you’ll already feel adjusted to your new schedule.
Refresh wardrobes. The classic “I have nothing to wear” routine is a recipe for disaster when you’re running out the door in the morning. Use the last weeks of summer break to do a closet cleanse for yourself and your kids. Donate old or worn out items, and stock up on new threads so you can head into the new school year feeling fresh and ready to go.
Purchase school supplies during tax-free weekends. Between school supplies, sports gear, and new clothes, shopping for a new school year can put a burden on your finances. To give your wallet a break, take advantage of your state’s designated tax-free weekend. Do a quick internet search to see if and when your state offers its sales tax holiday.
Create a designated homework space. Establishing good homework habits early on is key to a successful school year. A designated homework station can help eliminate distractions and help your kids be more productive during homework time. Choose a spot that’s away from the TV, has comfortable seating and ample workspace, and allows storage for school supplies and other homework-related materials.
Make a weekly schedule. With all of the extracurricular activities that kids (and adults) are involved in these days, keeping track of daily happenings can be a challenge. To stay organized, create a central location where everyone in the family can see what’s going on for the week. Whether it’s a calendar on the fridge or a shared calendar on your smartphones, be sure to plan out each week’s activities, including your meals, to ensure everyone stays on the same page.
 
 
Key Dates

Filed Under: Uncategorized

Get Your Annual Credit Report

August 4, 2017 by Bobby Tenorio

  Request Your Free Credit Report From Experian Dear Future Client, It’s time to order your next free credit report. This month, request your report from Experian by visiting www.annualcreditreport.com. In a few months, I will send you a reminder to request your free report from the final company. When requesting your free credit report, you will be asked to provide the following:
  • Name
  • Address
  • Social security number
  • Date of birth
If you moved within the last two years, you may be asked to provide your previous address. For security purposes, the company may also ask you a “secret” question that no one else would know. If you have any questions, please contact us    Sincerely, Team BobKat Gold Star Mortgage Financial NMLS# 880845 NMLS# 334354 Company NMLS ID# 3446   Bobby Tenorio Photo Bobby Tenorio Gold Star Mortgage Financial 100 Phoenix Dr. Ste. 300 Ann Arbor, MI 48108 (586) 565-1122 NMLS 880845 btenorio@gsfmail.com Gold Star Mortgage Financial Logo Katrina Kamenetski Gold Star Mortgage Financial 100 Phoenix Dr. Ste. 300 Ann Arbor, MI 48108 (248) 212-3333 NMLS# 334354 kkamenetski@gsfmail.com     Gold Star Mortgage Financial Group, Corporation. Ph: 734-971-9900. Corporate Office: 100 Phoenix Drive, Suite 300, Ann Arbor, MI 48108. A complete list of licenses and regulatory contact information can be found at www.goldstarfinancial.com/licensing. This is not an offer to: 1) extend credit, 2) enter into a rate lock agreement, or 3) a commitment to lend. Programs, rates, terms and conditions are subject to change at any time. All loans subject to underwriting approval, and additional terms and conditions may apply. Gold Star Mortgage Financial Group, Corporation. Ph: 734-971-9900. (NMLS ID#3446); AL Consumer Credit License #21502. a/d/b/a Midtown Mortgage Company; Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act. a/d/b/a Arcus Lending. CA RMLA License #603B542; Regulated by the Division of Real Estate; CT Mortgage Lender License #10707; FL Mortgage Lender License #MLD203; IL Residential Mortgage License #MB.6760623; IL Department of Financial and Professional Regulation – Division of Banking, Regulator Address: 100 W. Randolph Street, 9th Floor, Chicago, IL 60601 Phone: (800) 532-8785. a/d/b/a National Home Lending; IN DFI First Lien Mortgage Lending License #18314. a/d/b/a National Home Lending; MD Mortgage Lender License #18622; MA Mortgage Broker License # MB-3446; In Massachusetts, we arrange loans but do not make loans.; MI License Numbers FL2984; SR1059. a/d/b/a National Home Lending; MN RMLO License #MN-MO-20544705; Licensed Mortgage Banker – NJ Banking & Insurance Dept. NJ Residen-tial Mortgage Lender License #3446; NC Mortgage Lender License # L-145261; OH License Numbers: MBMB.850131.000; SM.501762.000. a/d/b/a National Home Lending; OR Mortgage Lender License #ML-4267; Licensed by the PA Dept. of Banking. PA Mortgage Lender License #34582; TN Mortgage License #109413. a/d/b/a National Home Lending; MidTown Mortgage Company; TX SML Mortgage Banker Registration # 3446. TX consumer notice: http://info.sos.state.tx.us/fids/201203137-2.pdf ; UT License #6401349; (www.nmlsconsumeraccess.org); VA Lender License # MC-5580; WA Consumer Loan Company License #CL-3446. a/b/d/a Arcus Lending; WI Mortgage Banker License #s 3446BA; 215139BR. a/d/b/a Elite Mortgage Solutions. Gold Star Mortgage Financial  100 Phoenix Dr. Ste. 300 Ann Arbor, MI 48108

Filed Under: Uncategorized Tagged With: annual check up, credit report, equifax, experian, free, transunion

How Homeownership Builds Wealth

August 4, 2017 by Bobby Tenorio

Vibrant Living

 
The 4th of July is more than just a day for celebrating the freedom we gained as a nation nearly 250 years ago. It’s a day for celebrating the individual freedom and opportunity afforded to each American — freedom that lets you reach for the stars and create the life you’ve always dreamed of. A part of that freedom means having the financial stability you need to pursue your life goals, and the earlier you secure financial freedom in life, the more opportunity you’ll have to make your dreams a reality.
 
 Home

If there’s anything history has taught us, it’s that homeownership is one of the best ways to build wealth and secure your financial future.

 

Here are five primary ways being a homeowner can help you accomplish this:

Homeownership can help create a forced savings. Most people aren’t very good at putting money aside each month, but every financial expert would agree that having a savings cushion is essential for financial freedom. For homeowners, a monthly mortgage payment can act as a forced savings. As you pay down your principal, you build equity, which helps to increase your net worth.
Homes usually appreciate in value. While there’s no guarantee that the home you buy will appreciate, there’s a pretty good chance. According to the Federal Housing Finance Agency’s
House Price Index, home values have appreciated an average of 3.33% each year since 1991. For instance, if you purchased a home for $100,000 in 1991, your home would be worth almost $250,000 today. In addition to the amount you’d have paid off on your mortgage during that time, this appreciation in value builds even more equity, therefore increasing your net worth.
A home is a tax shelter.* When you earn a profit from a property or investment (say, the stock market), you normally have to pay capital gains tax. But if you make a profit when selling your home, that profit can’t be taxed (with some limitations), which keeps more money in your pocket. Owning a home also comes with other tax benefits, such as deductions on mortgage interest, mortgage discount points, mortgage insurance, and property taxes. These reduce your taxable income and can help you keep more of your hard-earned money.
You can have a fixed, stable housing payment. Renters are susceptible to fluctuating rental prices, which have historically gone up each year. Mortgages, on the other hand, can be fixed, which provides a stable housing payment that won’t fluctuate over the life of your loan. This will allow you to keep your cost of living down and put more of your money toward savings, investments, or other avenues that can help you build wealth.
Homeowners have a greater net worth. According to the Federal Reserve’s latest Survey of Consumer Finances, homeowners have 36 times more net worth than renters. As of 2013, the median net worth for homeowners was $195,400, compared to $5,400 for renters. This comparison clearly shows the power of homeownership for building wealth.

If you want to gain financial freedom, homeownership is a no-brainer. Buying a home is one of the smartest things you can do to help you build wealth for the long-term.

*For information purposes only. Consult your tax advisor for more details.
 
Let’s discuss if you’re financially ready to take the plunge into homeownership. Contact me today.
 
Get Pre-Approved

Filed Under: Uncategorized Tagged With: financial freedom, homeownership, real estate

Financial News

July 26, 2017 by Bobby Tenorio

Economic Observer
 
Mixed Data
Overview: Wednesday’s dovish Fed minutes caused a minor improvement in mortgage rates, while the major economic data released over the past week contained mixed results and was roughly offsetting. In addition, reduced concern about North Korea was slightly negative for mortgage rates. The net effect was that mortgage rates ended the week with little change.  The minutes from the July 26 Fed meeting were viewed as slightly more dovish than expected, which was good for mortgage rates. There appears to be growing uncertainty among Fed officials about when inflation will begin to increase. In recent months, the major inflation indicators have remained well below the Fed’s target of 2.0%. According to the minutes, some Fed officials felt that the Fed “could afford to be patient under current circumstances” in terms of tightening monetary policy.  Recently released economic data contained mixed news. On Friday, the core Consumer Price Index (CPI) revealed that inflation in July was just 1.7% higher than a year ago, which was the same annual rate as in June. This was down from an annual rate of 2.3% in February. The surprisingly low inflation data was good for mortgage rates. However, Tuesday’s Retail Sales report showed unexpectedly strong gains. In July, retail sales, excluding the volatile auto component, jumped 0.5% from June, and the June results were revised significantly higher as well. Stronger economic activity raises the outlook for future inflation, and mortgage rates rose due to the retail sales data.  Last week, rising tensions with North Korea benefited mortgage rates as investors shifted to safer assets such as bonds. As is often the case, a reversal in mortgage rates took place this week when investor sentiment changed. This week, it appeared that the situation with North Korea was less likely to escalate, and investors sold bonds to return to riskier assets.  Week Ahead  Looking ahead, investors will continue to keep an eye on the situation with North Korea. In addition, Industrial Production, an important indicator of economic activity, will be released on Thursday. The minutes from the July 20 European Central Bank meeting will also come out on Thursday and could influence U.S. markets. The New Home Sales report will be released on August 23, followed by Existing Home Sales on August 24.  Chart
 
 
Contact me to discuss how I can help your clients with their mortgage needs.
 
 
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Bobby Tenorio Photo Bobby Tenorio NMLS# 880845 Gold Star Mortgage Financial  100 Phoenix Dr. Ste. 300 Ann Arbor, MI 48108 (734) 585-1192 EMAIL ME Visit my website
Gold Star Mortgage Financial Logo
Economic Observer
Commentary provided by MBSQuoteline. For live MBS pricing visit www.mbsquoteline.com. Gold Star Mortgage Financial Group, Corporation. Ph: 734-971-9900. Corporate Office: 100 Phoenix Drive, Suite 300, Ann Arbor, MI 48108. A complete list of licenses and regulatory contact information can be found at www.goldstarfinancial.com/licensing. This is not an offer to: 1) extend credit, 2) enter into a rate lock agreement, or 3) a commitment to lend. Programs, rates, terms and conditions are subject to change at any time. All loans subject to underwriting approval, and additional terms and conditions may apply. Gold Star Mortgage Financial Group, Corporation. Ph: 734-971-9900. (NMLS ID#3446); AL Consumer Credit License #21502. a/d/b/a Midtown Mortgage Company; Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act. a/d/b/a Arcus Lending. CA RMLA License #603B542; Regulated by the Division of Real Estate; CT Mortgage Lender License #10707; FL Mortgage Lender License #MLD203; IL Residential Mortgage License #MB.6760623; IL Department of Financial and Professional Regulation – Division of Banking, Regulator Address: 100 W. Randolph Street, 9th Floor, Chicago, IL 60601 Phone: (800) 532-8785. a/d/b/a National Home Lending; IN DFI First Lien Mortgage Lending License #18314. a/d/b/a National Home Lending; MD Mortgage Lender License #18622; MA Mortgage Broker License # MB-3446; In Massachusetts, we arrange loans but do not make loans.; MI License Numbers FL2984; SR1059. a/d/b/a National Home Lending; MN RMLO License #MN-MO-20544705; Licensed Mortgage Banker – NJ Banking & Insurance Dept. NJ Residen-tial Mortgage Lender License #3446; NC Mortgage Lender License # L-145261; OH License Numbers: MBMB.850131.000; SM.501762.000. a/d/b/a National Home Lending; OR Mortgage Lender License #ML-4267; Licensed by the PA Dept. of Banking. PA Mortgage Lender License #34582; TN Mortgage License #109413. a/d/b/a National Home Lending; MidTown Mortgage Company; TX SML Mortgage Banker Registration # 3446. TX consumer notice: http://info.sos.state.tx.us/fids/201203137-2.pdf ; UT License #6401349; (www.nmlsconsumeraccess.org); VA Lender License # MC-5580; WA Consumer Loan Company License #CL-3446. a/b/d/a Arcus Lending; WI Mortgage Banker License #s 3446BA; 215139BR. a/d/b/a Elite Mortgage Solutions. This was sent by: Bobby Tenorio, NMLS# 880845 Gold Star Mortgage Financial Company NMLS ID# 3446 100 Phoenix Dr. Ste. 300 Ann Arbor, MI 48108 Please Read Our Privacy Policy Privacy Statement
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Filed Under: Uncategorized Tagged With: finance, mortgage, pre approve

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