Routing # 256078446
MORTGAGE KNOWLEDGE CENTER
PenFed Mortgage with Confidence
March 4, 2022
One of the best things about spring is that it is finally time to get out and enjoy the good weather. Regardless of the weather where you live, spring is a time for rejuvenation, deep cleaning, and home repair. Read on to see the top tips you will want to put on your to-do list.
Start with an Interior Inspection
Before you get started on your spring cleaning, take a walk around your home and do an inspection. Bring a pad of paper or your phone to take notes. Once you see what needs to be done, you can schedule the chores over the next month. That way, you can stay organized and not get overwhelmed. Here are our top chores we suggest doing:
Top Interior Chores
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Service Your Air Conditioner: Before it gets warm and HVAC servicers are busy, call your favorite provider and have them come out and service your air conditioner. Also, have them check your furnace or heater to see if anything should be repaired.
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Change Interior HVAC Air Filters: Although we have this on the spring to-do list, many homeowners (especially ones with allergies) change their A/C filters each month. Doing this will keep your home and air you breathe cleaner and your HVAC unit running more efficiently.
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Inspect Your Washing Machine Water Hoses: Often forgotten, the washing machine hoses should be checked at least every spring. It only takes a small leak to make a big mess. Having this chore on your list will make sure that it gets done. You never want to have any standing water, even just a small amount, anywhere in your home or garage. Checking those hoses will make sure everything is tightly sealed.
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Clean Clothes Dryer Vents: Did you know that the majority of home fires start from the dryer? So, make it a habit to clean the dryer vents behind the machine at the beginning of each season. It is also a good practice to check the lint trapper filter them every time you throw a load in. Doing this will keep your home and family safer.
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Take Care of Pest Control: Nobody likes to think about pests. They are easy to ignore when you can not see them. But they could be hiding in many places. So, when springtime hits, have this chore on your list. Call a trusted pest control company to come out and do any needed control. Make sure if you have an attic, that they are checking inside it and also in the crawlspace.
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Wash Windows and Screens: You can wash your windows yourself or have a service do it. It does not cost that much to have someone come in. Plus, they have the right tools and cleaning solution to get the job done. Also, have your screens cleaned, checked, and repaired if needed.
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Adjust Ceiling Fans: Besides cleaning your ceiling fans, while you are at it, adjust them to suit the weather. Here is a helpful video from Home Depot, showing you how.
Start with an Exterior Inspection
Just like your inspection of the interior of your home, now it is time to take a walk around and make a note of what needs to be repaired. Once your list is complete, decide what you are going to complete yourself—and which chores you will want to call a professional for. Before you know it, your list will be complete! Here are our top tasks we suggest doing:
Top Exterior Chores
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Check Over Porch and Entry: Let us start with the entryway of your home. When you are running through the door with groceries in the winter trying to get out of the rain, you are probably not aware of peeling paint, stained siding, dry rot, or other issues. Now is the time to step back and see what needs your attention. Doing this will add curb appeal.
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Clean Gutters and Downspouts: This can be a dirty job. So, if you have teens, get their help. Otherwise climb up on the ladder and roof yourself or hire a professional. Once the gutters and downspouts are cleaned, then you will be able to see what needs to be repaired, reattached, or replaced. Completing this chore will prolong the life of both your gutters and your roof.
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Check the Roof: It is time to call a professional for this job. They will know just what to look for, including loose shingles, worn areas, leaks and cracks around vent pipes, damage from past storms, or falling trees. Make this call early in the spring before roofers get booked up.
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Prepare Lawnmower and Garden Tools for Spring: This is another chore you will want to do right away. If needed, take your mower into the shop for repair and have the blades sharpened. If gas has been sitting in your lawnmower, weed eater, or other lawn tools, they will need servicing.
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Pressure Wash Your Patio and Sidewalks: This is another perfect job for homeowners who love do it yourself (DIY) projects. Renting a pressure washer is inexpensive from a home improvement or hardware store. If you are pressure washing decks, make sure not to put the tip of the wand too close because you can damage the wood.
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Repair Deck Planks: If you have a deck, check for nails and screws that have popped up and any loose boards. Then pressure wash the entire deck and put on at least one good seal coat. Call a pressure washing company or house painter if you do not want to do this yourself.
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Inspect Mailbox: Spring is the perfect time to show it some love. If needed, give it a little coat of paint, and check for bugs and hornet nests. Make sure it is easy for your mailperson to drop your mail off. If needed, install a new box.
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Aerate Your Lawn: Did you know that lawn health starts with oxygen? If your lawn is compressed from dogs, kids, and foot traffic, it will not grow as well. Take the time to rent an aerator or call a landscaper.
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Check Trees: Take a look at your trees, especially those hanging over the house. Do any need to be trimmed? Doing this regularly helps you avoid damage from falling limbs and a big tree bill from deferred maintenance.
Taking care of your home is easier to do if you go one step at a time. We hope these tips have been helpful and that you are motivated to dive in and enjoy the spring.
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Home Buying Steps
Mortgage Products
Disclosures
1Conventional Loans
Except for holidays, rates are updated Monday through Friday at 10:15am EST. The advertised rates and points are subject to change. The information provided is based on 1.0 discount point, which equals 1.0 percent of the loan amount, and assumes the purpose of the loan is to purchase a property with a 30-year, conforming, fixed-rate loan. Loan amount of $400,000; loan-to-value ratio of 75%; credit score of 760; and DTI of 18% or less. The property is an existing single-family home and will be used as a primary residence. The advertised rates are based on certain assumptions and loan scenarios, and the rate you may receive will depend on your individual circumstances, including your credit history, loan amount, down payment, and our internal credit criteria. Other rates, points, and terms may be available. All loans are subject to credit and property approval.
Rates quoted require a loan origination fee of 1%; not to exceed $1,995. Speak to a PenFed Mortgage Loan Officer for additional details.
2FHA Loans
Except for holidays, rates are updated Monday through Friday at 10:15am EST. The advertised rates and points are subject to change. The information provided is based on 1.0 discount point, which equals 1.0 percent of the loan amount, and assumes the purpose of the loan is to purchase a property with a 30-year, conforming, fixed-rate loan. Loan amount of $400,000; loan-to-value ratio of 96.5%; credit score of 760; and DTI of 18% or less. The property is an existing single-family home and will be used as a primary residence. The advertised rates are based on certain assumptions and loan scenarios, and the rate you may receive will depend on your individual circumstances, including your credit history, loan amount, down payment, and our internal credit criteria. Other rates, points, and terms may be available. All loans are subject to credit and property approval.
Rates quoted require a loan origination fee of 1%; not to exceed $1,995. Speak to a PenFed Mortgage Loan Officer for additional details.
3VA Loans
Except for holidays, rates are updated Monday through Friday at 10:15am EST. The advertised rates and points are subject to change. The information provided is based on 1.125 discount point, which equals 1.125 percent of the loan amount, and assumes the purpose of the loan is to purchase a property with a 30-year, conforming, fixed-rate loan. Loan amount of $450,000; loan-to-value ratio of 95%; credit score of 760; and DTI of 18% or less. The property is an existing single-family home and will be used as a primary residence. The advertised rates are based on certain assumptions and loan scenarios, and the rate you may receive will depend on your individual circumstances, including your credit history, loan amount, down payment, and our internal credit criteria. Other rates, points, and terms may be available. All loans are subject to credit and property approval.
Rates quoted require a loan origination fee of $995.
4Jumbo Loans
Except for holidays, rates are updated Monday through Friday at 10:15am EST. The advertised rates and points are subject to change. The information provided is based on 0.625 discount point, which equals 0.625 percent of the loan amount, and assumes the purpose of the loan is to purchase a property with a 30-year, non-conforming, fixed-rate loan. Loan amount of $1,009,000; loan-to-value ratio of 70%; credit score of 760; and DTI of 18% or less. The property is an existing single-family home and will be used as a primary residence. The advertised rates are based on certain assumptions and loan scenarios, and the rate you may receive will depend on your individual circumstances, including your credit history, loan amount, down payment, and our internal credit criteria. Other rates, points, and terms may be available. All loans are subject to credit and property approval.
Rates quoted require a loan origination fee of 1%; not to exceed $1,995. Speak to a PenFed Mortgage Loan Officer for additional details.
Fixed Rate Advance Lock-In You may lock in an Annual Percentage Rate for Advances during the Advance Period. During your Advance Period, you may choose to have three separate Fixed Rate Advances locked in at any one time, with a maximum of two new Fixed Rate Advances per calendar year. Each Fixed Rate Advance must equal or exceed Ten Thousand Dollars ($10,000.00) and you may not request a Fixed Rate Advance that would cause the amount you owe to exceed your Credit Limit. The only term option for your Fixed Rate Advance is 240 months (“Fixed Rate Advance Term”). However, the term of your Fixed Rate Advance cannot exceed your Repayment Period.
