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More Great News From Ted Dimond of Dimond Mortgage in Taos

The USDA funding rate dropped from 2.75% to 1% in October of 2016 as well as the monthly mortgage insurance premium from .50% to .30% of the loan amount. Due to the decrease in foreclosures and delinquency rates, USDA could afford this reduction. The funding fee pays for the program and is built into the loan amount. The lowering of the funding fee and mortgage insurance premium results in a lower monthly mortgage payment for the borrower. As a reminder, this program allows for up to 100% financing, is specific for rural areas, and the interest rates are often lower than the conventional market rates.

When looking for the best Taos or Angel Fire Real Estate let us help you find your dream home. With amazing homes for sale in Angel Fire and Taos, you are sure to find that perfect home. Maybe land for sale in Taos and Angel Fire might be what you are looking for to build your dream home or live off the grid in our stunning Earthship homes for sale in Taos. How about a fabulous condo for sale in Angel Fire that puts you close to the slopes? We are dedicated to bringing you the best in Real Estate throughout the Enchanted Circle.Call us at 575-377-2626 in Angel Fire or 575-758-5852 in Taos our dedicated knowledgeable agents go that extra mile to find exactly what you require. To speak directly to a broker call Paula at 575-770-3306. We are here to welcome you to our growing community....the mountains are calling!!!

4 Numbers That Determine Your Buying Power

If you're serious about buying a home, understanding your finances is a crucial first step.Paying careful attention to these four numbers will make the difference in landing your dream home.

Credit score

Down payment

Debt-to-income ratio

Assets

Understanding the importance of these four numbers and making necessary adjustments before window-shopping can do wonders in ensuring your bank account will be ready when the time comes to make a purchase.

When you are ready to purchase a home, condo or land in Taos or Angel Fire call on the Ladies at New Mexico Mountain Properties. Where we are dedicated to Bringing You The Best in Real Estate in the Enchanted Circle..Perhaps you want to live "green" there are many homes in Angel Fire or Earthships in Taos to choose from.you can access the Taos MLS system from this website if you do not find the perfect Angel Fire or Taos property on our website. If buying or selling Angel Fire property call us at (575) 377-2626. Maybe you want the perfect Taos get away to fuel your artistic side call us at (575) 758-5852. We have lots and larger parcels for sale in Taos and Angel Fire to build your "Dream Home". To speak directly to a broker call Paula at (575) 770-3306. We are here to welcome you to our growing community....the mountains are calling!!!

Information Obtained From Trulia

This just in from Dimond Mortgage of Taos regarding interest rate increase.

Interest Rates:

Interest rates (assumptions made for 740 credit score, purchase, primary residence) have increased from a pre-election low of 3.75% to post election increase of 4.25-4.375%. Although not a significant increase, the determining factors are positive employment/economic indicators as well as opinions that the business sector will benefit from the election of this President and stocks have reacted positively. Stocks and mortgage interest rates correspond to the same trajectory with normal market conditions; this is holding true at present with both increasing.

So with that in mind maybe you want to turn to a new home in Taos or Angel Fire. Are you looking to sell your Angel Fire or Taos property call on us.Perhaps you want to live "green" there are many homes in Angel Fire or Taos to choose from.you can access the Taos MLS system from this website if you do not find the perfect Angel Fire or Taos on our website. We are dedicated to bringing you the best in real estate in the Enchanted Circle. If buying or selling Angel Fire property call us at (575) 377-2626. Maybe you want the perfect Taos get away to fuel your artistic side call us at (575) 758-5852. We have lots and larger parcels for sale in Taos and Angel Fire to build your "Dream Home". To speak directly to a broker call Paula at (575) 770-3306. We are here to welcome you to our growing community....the mountains are calling!!!

5 Sneaky Things You Didn't Know Could Ruin Your Credit

Steer clear of these hidden mistakes that can cause your credit score to plummet.

Generating too many inquiries

When you receive a quote on interest rates, lenders pull a hard inquiry that shows up on your credit report. If you request these inquiries over a period longer than 14 days, each quote shows up individually. When you're comparison shopping for a loan, gather your quotes in a short period (ideally, all within two weeks of each other), and your credit will take less of a hit.

The little things can add up

Unpaid bills from a variety of sources can cause your credit score to plummet if they're unresolved. this is an easy fix and just a matter of settling the outstanding payment. To check for these issues, pull a credit report, you can get one for free each year from the three credit-reporting agencies (Experian, TransUnion, and Equifax).

Incorrect information

Let's get real:Errors occur and businesses make mistakes. If your credit report is harboring incorrect information about your financial records, this could drag down your credit score. Correcting errors can be long and arduous, but it's worth the effort.

Utilizing your available credit a little too much

Maintaining a high credit utilization ratio will hurt your score. If possible, try to keep balances low on your lines of credit.

Not using credit at all

The silent way to ruin credit is by not using it at all. There is nothing to show that you're a responsible user of credit who can manage balances and payments. Inactive accounts may even default to closed over time, and that too can ding your score.

So when you are ready to buy a home or condo in Angel Fire or Taos we are here to assist you in all your Real Estate needs in Taos or Angel Fire. Are you looking to build your dream home we have many lots or larger parcels to choose from in Taos and Angel Fire. If you cannot locate the house, condo or land you desire, on our website, you can access the Taos/Angel Fire MLS from our website. We are dedicated to bringing you the best in Real Estate throughout the Enchanted Circle. For your Real Estate needs in Taos call us at (575) 758- 5852.Looking to buy or sell Real Estate in Angel Fire our number is (575)377- 2626. Our warm and inviting staff of knowledgeable agents go that extra mile to find exactly what you desire. To speak directly to a broker call Paula at 575-770-3306. We are here to welcome you to our growing community.

Information obtained from Trulia

How To Sell Your House Faster Than Your Neighbor's

Great curb appeal can help your home sell faster, but there are many things you can do to edge out nearby competition.

Focus on curb appeal

Don't skip staging

Focus on photography

Enhance your home's best features

Price it well

So with that in mind maybe you want to turn your savings into a new home in Taos or Angel Fire. Are you looking to sell your Angel Fire or Taos property call on us. We are dedicated to bringing you the best in real estate in the Enchanted Circle. If buying or selling Angel Fire property call us at (575) 377-2626. Maybe you want the perfect Taos get away to fuel your artistic side call us at (575) 758-5852. We have lots and larger parcels for sale in Taos and Angel Fire to build your "Dream Home". To speak directly to a broker call Paula at (575) 770-3306. We are here to welcome you to our growing community.

Information obtained from Trulia

Can I buy another house if I own another house?

When asked this question there were many responses.Here are just a few.

You can certainly buy a second home, or a third, etc. but they become investment property as the law allows only one homestead. Depending on your location and their laws, you can live in the house a certain amt. of time, then apply for or claim residency in that state. At that time, look into which house you wish to homestead. You may be able to change your homestead depending on the State's laws. However, homestead the home with the highest taxes and it will save you a lot of money. Any improvements you do to your income property are tax deductible, so you may want to fix it up before you homestead it. You may want to check on the laws concerning that option as well. It may be required for it to be a proper rental for a certain amt. of time. I have 3 homes, but in the same state. I save a fortune in taxes with income property deductions. Home Buyer, Beaumont, TX

Absolutely, yes. Just be aware that you may not be able to take tax deductions for the mortgage, etc., on a second (or third! or however many you want) as you do for your principal residence--talk to a tax person about your specific circumstances.Home Buyer, Albuquerque, NM

I think you need to decide the "why" behind you buying another house. Building wealth by buying real estate is attainable for most everyone. That could be your "why", but if you use one of the homes as a rental you must understand the benefits/risks of being a landlord. Being a landlord is not for everyone. It is not about just collecting a check each month. It does require time and knowledge on the house systems and maintenance. I love real estate for building wealth by acquiring homes at a reduced price that need some rehab before renting. Do your homework, though. Not every house on the market will give you a profit. Using cash to buy your next home is a great way to get a better deal. Sellers love cash and quick closing. You can also get cash out of the equity you have in the home you currently own. Talk to a lender to find out more options. Lastly, educate yourself. Home Buyer, East Wenatchee, WA

So when thinking of buying Real Estate in Taos or Angel Fire turn to the Ladies at New Mexico Mountain Property. Are you ready to buy a home or condo in Angel Fire or Taos Ski Valley? Maybe one that puts you close to the slopes we are here to assist you with your all of your Real Estate needs in Angel Fire or Taos. Perhaps you want to live in an Earthsip we have many to choose from. Are you looking to build your dream home? We have many lots or larger parcels to choose from in Taos and Angel Fire. If you cannot locate the house, condo or land you desire, on our website, you can access the Taos/Angel Fire MLS from our website. We are dedicated to bringing you the best in Real Estate throughout the Enchanted Circle. For your Real Estate needs in Taos call us at (575) 758- 5852.Looking to buy or sell Real Estate in Angel Fire our number is (575)377- 2626. Our warm and inviting staff of knowledgeable agents go that extra mile to find exactly what you desire. To speak directly to a broker call Paula at 575-770-3306. We are here to welcome you to our growing community.

Information obtained from Trulia

The Truth About Biweekly Mortgage Payment Plans

Traditionally, your mortgage payment is a monthly cost. But many mortgage lenders also offer biweekly mortgage payment plans that allow you to pay in installments every two weeks instead of every month. Biweekly payment plans sound simple and straightforward: You pay biweekly instead of monthly and reduce the balance on your loan faster. In theory, by using one of these plans, you pay less interest over time, build equity faster, and get rid of your mortgage ahead of schedule. Unfortunately, these mortgage payment plans don't always work as well as they claim. What actually happens is that you send in your biweekly payment to the company servicing the loan, and then they hold your payment until the second one arrives. Only after the company has the full monthly payment amount do they apply the money to your mortgage -- which means as far as the mortgage company is concerned, you're still making one payment per month.

In effect, this saves you nothing in interest because your funds are still only being applied as if you were making monthly payments. Worse still, some biweekly mortgage payment plans can actually ending up costing you more money, because the companies that offer these plans often charge additional fees to handle and deliver the payments for you. If you know you have an extra $100 in your budget each month, tack that on to your payment. For example, on a $100,000 loan (assume a 30-year fixed mortgage and 4% interest), paying an extra $100 a month can cut approximately 8.5 years off the life of the loan -- and save $22,463.76 in interest. That's some serious cash.

Another option? Create your own biweekly payment plan. By skipping the third-party processing (and the fee they add on for doing so), you'll end up making an extra payment each year that you wouldn't make if you paid monthly. You can also continue to pay monthly but make one extra mortgage payment at some point during the year to get the same result. Anytime you have extra money on hand -- from a tax return, bonus from work, or gift -- you can apply these funds to your mortgage too.

Just be sure that any extra payments you make are applied to the principal of your loan, not just the interest. You'll also want to ensure that the terms of your mortgage will not leave you with a prepayment penalty should you pay extra or early.

With that in mind when you are ready to buy a home or condo in Angel Fire or Taos Ski Valley that puts you close to the slopes we are here to assist you with your Real Estate needs. Perhaps you want to live in an Earthsip we have many to choose from. Are you looking to build your dream home? We have many lots or larger parcels to choose from in Taos and Angel Fire. If you cannot locate the house, condo or land you desire, on our website, you can access the Taos/Angel Fire MLS from our website. We are dedicated to bringing you the best in Real Estate throughout the Enchanted Circle. For your Real Estate needs in Taos call us at (575) 758- 5852.Looking to buy or sell Real Estate in Angel Fire our number is (575)377- 2626. Our warm and inviting staff of knowledgeable agents go that extra mile to find exactly what you desire. To speak directly to a broker call Paula at 575-770-3306. We are here to welcome you to our growing community.

Information obtained from Trulia

Explore the 5 Senses Of Selling A Home

Keep Your Eyes Peeled:

Put away the Legos. Clear the desk clutter. Vacuum up the dog hair. Nearly 74 percent of real estate agents said that the cleanliness of a home is the most important sight-based feature to home buyers. Someone looking for a new home doesn't want to have to use their imagination to determine if the house is a fit for their lifestyle.

The Smell of Home:

Vanilla and fresh scents (think mountain air or clean laundry smell) are the most popular and appealing fragrances when staging a home. In fact, vanilla is such a powerful scent, studies have shown it's linked to positive nostalgic memories, reducing stress and anxiety and producing a sense of calm.

First Impressions Make a Lasting Impression:

While the majority of real estate agents said the most important rooms to focus on staging are the kitchen and living rooms, they emphasize not to forget about the entryway. The look and feel of the entryway is the first opportunity to make a full sensory impression on the home buyer. Additionally, homeowners should consider incorporating ambient music, fresh flowers, and a clear path to the rest of the home.

Color Correction:

Bright or funky color palettes such as reds, oranges, and yellows are the least appealing. Instead, neutral colors such as eggshell, white, and ivory are the most appealing because they represent a clean, blank canvas. The dominant senses of selling a home are sight and smell, so focus your efforts on fresh, calming fragrances, a neutral color palette, and an inviting first impression as potential buyers walk in the door.

So are you interested in selling or buying Taos or Angel Fire Real Estate we are the company to contact.Is it land in Taos or Angel Fire that you desire? We have many lots or larger parcels to choose from. Maybe you are searching for the perfect Angel Fire or Taos Ski Valley condo that puts you close to the slopes? We are here to help with all of your Angel Fire or Taos Real Estate needs. Perhaps you are desperate for the perfect Taos condo, house or Earthship to feed your creative side. Call us in Taos at (575) 758-5852 or in Angel Fire call (575) 377-2626 our warm and inviting staff of knowledgeable agents go that extra mile to find exactly what you desire. We are dedicated to bringing you the Best Real Estate throughout the Enchanted Circle. To speak directly to a broker call Paula at 575-770-3306. We are here to welcome you to our growing community.

Information obtained from Trulia

4 Ways to Buy a House With Bad Credit

Are you worried that a low credit score will affect your dream of owning a home? Check out these four tips to buy a house even with a low score.

Save a larger down payment

This would likely mean a down payment of 20% of the home value or higher.

Go with a FHA loan

Know what to emphasize to a lender

For instance, showing on-time rent payments for a year or more, or cash reserves of at least six months will help portray you as a less risky loan candidate.

Try a private mortgage Private loans can come from any party with the available funds to pay for your home purchase in full, upfront -- e.g., a family member, friend, or private lender.

Maybe you are searching for the perfect Angel Fire or Taos Ski Valley condo that puts you close to the slopes? We are here to help with all of your Angel Fire or Taos Real Estate needs. So are you interested in buying or selling Taos or Angel Fire Real Estate we are the company to contact.Is it land in Taos or Angel Fire that you desire we have many lots or larger parcels to choose from. Perhaps you are desperate for the perfect Taos condo, house or Earthship to feed your creative side. Call us in Taos at (575) 758-5852 or in Angel Fire call (575) 377-2626 our warm and inviting staff of knowledgeable agents go that extra mile to find exactly what you desire. We are dedicated to bringing you the Best Real Estate throughout the Enchanted Circle. To speak directly to a broker call Paula at 575-770-3306. We are here to welcome you to our growing community.

Information obtained from Trulia

How Much Of My Monthly Income Should I Spend On A Mortgage?

Before you plan to spend the maximum amount you've been approved for, consider whether you can really afford the mortgage your lender offers. Here's how to determine how much of a mortgage payment your budget can handle each month.

Calculate your true monthly cost

If you want an in-depth look at your potential mortgage payment, look for a mortgage calculator that includes costs like homeowners insurance or property taxes.

Know the legal limits on lenders

According to the Mortgage Reform and Anti-Predatory Lending Act, a section of the Dodd-Frank Act of 2010, any entity lending money for a mortgage cannot underwrite the loan unless they determine you can reasonably repay it.

Your mortgage should take up no more than 28% of your monthly income

You can use 28% as your rule of thumb too when making a budget for buying a home. Here's an easy formula: Multiply your monthly income by 28, then divide that by 100. The answer is 28% of your monthly income.

Maybe you are searching for the perfect Angel Fire or Taos Ski Valley condo that puts you close to the slopes? We are here to help with all of your Angel Fire or Taos Real Estate needs. So are you interested in buying or selling Taos or Angel Fire Real Estate we are the company to contact.Is it land in Taos or Angel Fire that you desire we have many lots or larger parcels to choose from. Perhaps you are desperate for the perfect Taos condo, house or Earthship to feed your creative side. Call us in Taos at (575) 758-5852 or in Angel Fire call (575) 377-2626 our warm and inviting staff of knowledgeable agents go that extra mile to find exactly what you desire. We are dedicated to bringing you the Best Real Estate throughout the Enchanted Circle. To speak directly to a broker call Paula at 575-770-3306. We are here to welcome you to our growing community.

Information obtained from Trulia

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