Tightening the Belt

While my belt might get a little tighter over the impending holidays, that's not what I mean! Loan guidelines are going to start getting tighter. USDA and FHA guidelines are raising their minimum FICO scores from 620 to 640. Also, after six months of hovering, interest rates have gone up about 3/8 pt. this week.

What does that mean to you? The belt is tightening. It's more important than ever to maintain (and improve) your credit score by lowering your credit card balances, making sure payments are on time and not living beyond your means if you plan to buy a home. Increased interest rates mean loans are more expensive, and to keep a payment the same amount, your buying power decreases. Or said a different way, the sales price you can qualify for will decrease.

This is likely a trend we will continue to see, so if you are thinking of buying a home, there is no time like the present!

She Has a Vision

I have a friend, also named Jennifer, and she has a vision. Not the crazy weird kind, but she can see the good in things that are bad. Er, things that look bad. As in ugly. Like these chairs she had in her garage forever... boy were they ugly. And I'm talking Mother-in-Law ugly (literally, they were her MIL's).

Now? Utterly fabulous! I am stunned at what a little paint and fabric can do! Now if we were talking houses, I could have seen it. That's MY thing, after all. But HER thing is turning ugly, old, out-of-date into something you will totally want in your house!

Cornice boards, throw pillows, a lamp--what ever you need, she can do it. Check out her blog!