You’ve done it. Finally, you’ve purchased your first home. Perhaps it’s not that dream home you’ve always wanted, but it’s your home nonetheless. Many first time homeowners can’t afford to buy expensive homes with all the latest amenities so they have big dreams of how they can fix up the place. That’s where the trouble may begin. First-time homeowners shouldn’t overwhelm themselves with hefty, expensive home improvement projects. Instead, take time to settle into your new place, allowing yourself to adapt to your new surroundings. With time, your priorities are likely to change and what you once thought of as priority number one may take the backseat to another more important (and possibly less expensive) project. While you’re adapting to your new home, however, don’t be afraid to tackle simple low-cost projects. Just remember, whatever the venture, write a budget and stick to it. Always consider the following: wants vs. needs & costs vs. reality.

In the last few months, lending standards for potential home buyers have been increasing even for those with steady employment, good credit and cash for down payment. Let’s examine some strategies you should consider when trying to get the home loan you need.

Build Your Credit Score. Avoid black marks on your credit history. Even if you’ve paid them off, things such as late payments and unpaid tax bills remain on your credit history for seven years. To better your credit score in the short run, pay down current loans, reduce credit lines and cancel credit cards that you don’t use very often.

Bring Documents. When applying for a home loan, be prepared to provide the lender with proof of income. This would include W-2 forms for the previous year, tax returns for the last three years if you’re self-employed and documents for other assets.

Raise Your Down Payment. To better your chances of qualifying for a home loan you should put more money down. Despite how much you make or how good your credit, having less than 5% of the purchase price for down payment could mean your’re out of luck.

Reduce Your Loan Amount. Plain and simple, don’t get more than you need.

A cluttered house could add more stress to your life compared to one that’s less messy. Why not ease some of that stress by getting your home organized? The following tips are simple and should help your organizing efforts.

Kitchen
Take back your counter space. This space is reserved for items you use daily. Keep appliances and other things that aren’t used regularly stored in a closet or pantry until they’re needed. Counters should be kept clear.

Desks
A helpful tip to keep desks organized is to have a space for everything. This can be achieved by organizing mail, stationery, coupons, etc. in neat folders/containers - one for each category. Do away with junk mail, expired coupons, brochures, etc. (more…)