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10 Winter Family Friendly Events
Now that the holidays are here, we have compiled a list of winter family friendly events for you to enjoy around your area. Let the festivities begin, happy holidays!
Evergreen Christmas Light Show hosted by Evergreen Church
When: Dec. 4th-24th from 6:00-9:00pm
Where: 3429 240th St SE, Bothell, WA 98021
Cost: FREE!
The Evergreen Christmas Light show, hosted for the 10th year by Evergreen Church, is the perfect setting to drive out the Washington winter darkness. Eat Evergreen’s FREE famous chocolate chip and gingerbread cookies, while you warm yourself from a heated viewing area. The music choreographed light show lasts for 30 minutes and runs back-to-back from 6:00-9:00pm; from a tunnel light with a snowstorm that dusts every 30 minutes to a heated indoor train and village display there are plenty of photo opportunities along the way. For more information on the event and Evergreen’s Covid protocol please visit their website at: www.christmasatevergreen.com
The Lights of Christmas hosted by Warm Beach Camp & Conference Center
When: 2021 Dates: Dec. 1-5, 8-12, 15-23, 26-30 and Jan. 2-8, 2022
Where: 20800 Marine Drive, Stanwood WA 98292
Cost: 1-12 Person Vehicle $25-30 and Minibus or Limo $50-55
It is time to experience an old Snohomish holiday classic event in a new way. The Lights of Christmas, which launched 24 years ago in 1997, has undergone a transformation this holiday season. To keep patrons safe the event is now being run drive-thru style from the comfort of your own car. You can now view over a million dazzling lights from the warmth, comfort, and safety of your own car seat. Drive through to see Santa, Mrs. Claus, Frosty, Rudolph and Bruce the Spruce waving as you pass by. The viewing will last approximately 30 minutes and there will be designated locations to stop and use the restroom or purchase gifts and food. Don’t forget to tune in to LOC Radio 101.9 to enjoy Christmas music! For more information, please visit their website at: www.thelightsofchristmas.com
Pacific Ice Skating Rink hosted by the Port of Everett Marina
When: 2021 Dates: Dec. 3rd-Jan 31st. Monday-Friday 3pm-10pm Saturday and Sunday 10am-10pm. Holiday hours Dec. 17th- Jan. 2nd 10am-10pm
Where: 1028 13th St., Everett WA 98201
Cost: Adult $16.50 and Children (12 and under) $13.50
Skate your way into the 2021 holiday season at the Port of Everett’s newest opening attraction Pacific Ice. The 30-by-60ft rink is set to open December 3rd. Marvel at the lights and sights of the Marina while skating on real ice in a covered rink. For more information please their website at Pacific Ice at Waterfront Place (ticketspice.com)
Snowflake Lane presented by the Bellevue Collection
When: Nov. 26th- Dec. 24th
Where: On the sidewalks between Bellevue Square and Lincoln Square from NE 4th to NE 8th Street.
Cost: FREE!
Snowflake Lane’s magical parade is returning this year bringing with it free complimentary sights from character performances to floats, to lights and nightly snowfall. If you get there early enough you can utilize one of the free parking garages nearby and nab a prime viewing spot from either side of the sidewalk. For more information regarding the event and their masking and social distancing policies please visit their website at: https://snowflakelane.com
WILDLANTERNS at the Woodland Park Zoo
When: Nov. 12th- Jan. 30th. Closed Mondays (except Dec, 20th and Dec. 27th). Closed Dec. 24th-Dec. 25th
Where: Woodland Park Zoo 5500 Phinney Ave N, Seattle WA 98103
Cost: Adults $30.95 Children Ages 3-12 $29.95 Toddlers Ages 2 and under) FREE
Journey through an illuminated land full of larger-than-life lantern animals and lantern lit scenes from around the world. Wildlanterns, which replaced the Zoolights of old, is coming back for a second year bigger and brighter than ever before! The Zoo will be operating at full capacity in accordance with King County Covid mandates, so if you would like to find out more information about their Covid requirements please visit their website at: www.zoo.org/wildlanterns
Annual Issaquah Reindeer Festival at Cougar Mountain Zoo
When: Dec. 1st-23rd (10:30am-4:30pm) and Dec. 26th-30th (10:30am-3:30pm)
Where: Cougar Mountain Zoo: 19525 SE 54th St., Issaquah, Washington 98027
Cost: Adult $17. Senior $16. Children (ages 2-12) $14 Children under 2 FREE!
Santa’s team of reindeer have pranced their way into the annual Issaquah Reindeer Festival at Cougar Mountain Zoo. That’s right, you can see Santa and all of Santa’s reindeer live and in person in an intimate zoo setting. Tickets purchased for the Reindeer Festival also pay for your admission into the zoo itself. To get more information on the event please visit their website at: www.cougarmountainzoo.org/issaquah-reindeer-festival
Zoolights at Point Defiance Zoo and Aquarium
When: Nov. 26th- Jan. 2nd (4:30-10pm)
Where: Point Defiance Zoo & Aquarium: 5400 North Pearl St., Tacoma, WA 98407
Cost: Mon-Thursday $12. Fri-Sunday $15. Children 2 and Under FREE! Parking is FREE!
Zoolights at Point defiance zoo is brining back old festive classics like their 33-year-old purple and green Flame Tree and new displays too! Boasting over 800,000 dazzling lights Zoolights is sure to be a crowd pleasure. There will be opportunities for animal encounters in the Asian Forest Sanctuary Day Room and Goats that you can feed over in Contact Junction! Zoolights has been reimagined to help with social distancing and will enforce safety guidelines in accordance with Covid-19 mandates. For more information on the event please visit their website at: www.pdza.org/event/zoolights/2021-12-07
Garden d’Lights hosted by Bellevue Botanical Garden
When: Nov. 27th-Dec. 31st including Christmas Eve, Christmas Day and New Year’s Eve (4:30-9:00pm)
Where: Bellevue Botanical Garden: 12001 Main Street, Bellevue, 98005
Cost: $5.00 per person, 11 years and over; Children 10 and under are FREE!
Garden d’Lights features over half a million glistening lights formed to resemble the creatures and plants that you would expect to find in a botanical garden. The light display is spread across 3.5 acres and is entirely outdoors so there will be no proof of COVID vaccinations or negative COVID test results required to attend. For more information on the event please visit their website at: https://bellevuebotanical.org/garden-dlights
George Balanchine’s The Nutcracker presented by Pacific Northwest Ballet
When: Nov. 26th-Dec. 28 (showtimes vary & last 2 hours & 3 minutes)
Where: 301 Mercer St., Seattle, 98109
Cost: Prices vary depending on your seat selection
Watch as snowflakes flit, twirl, and dance across a stage at the Pacific Northwest Ballet’s performance of George Balanchine’s The Nutcracker. This heartwarming production will take you on an epic journey from a young girl’s ordinary home to the Land of Snow and Sweets. This year you can even purchase digital access and enjoy the performance from the comfort of your own home! For more information on this event please visit their website at: www.pnb.org
Holiday Magic hosted by Washington State Fair
When: Dec. 10th-12th, 17th-23rd and 26th-31st (5:00pm-10:00pm)
Where: Washington State Fair Grounds: 110 9th Ave SW, Puyallup, 98371
Cost: $5.00 per person, 11 years and over; Children 10 and under are FREE!
There are MANY merry activities you can experience at Holiday Magic. You and your family can hang out in ChillVille, go ice skating, ride Santa’s Express Train, visit Santa’s Village or hang out with cuddly animals in The Manger and so much more! Activities will be indoor and outdoor at this fun filled extravaganza! For information more information including their COVID protocols please visit their website at: www.thefair.com/holiday-magic
written by Kerriann Jenkins
Winter Reading List
These are my reading picks through the Winter. I hope you enjoy them along with other reading options through Sno-Isle Libraries which is open for in person services. All online services and resources continue to be available as well. Visit there site here, www.sno-isle.org/mill-creek
Before the Ruins by Gosling, Victoria
“It’s the summer of 1996 and school’s out forever for Andy, her boyfriend Marcus, her best friend Peter, and Em. When Andy’s alcoholic mother predicts the apocalypse, the four teenagers decide to see out the end of the world at a deserted manor house, the site of a historic unsolved mystery. There they meet David – charming and unreliable, he seems to have appeared out of nowhere. David presents an irresistible lure for both Andy and Peter and complicates the dynamics of their lifelong friendship. When the group learns that a diamond necklace, stolen fifty years ago, might still be somewhere on the manor grounds, the Game – half treasure hunt, half friendly deception – begins. But the Game becomes much bigger than the necklace, growing to encompass years of secrets, lies, and, ultimately, one terrible betrayal.”
Bad River by Cotton, Ralph W.
Arizona Ranger Sam Burrack is back-and hot on the trail of the worst desperados in two countries. Following a tip from a prisoner in Yuma Penitentiary, Ranger Sam Burrack is riding to the Mexican Valley to hunt down the Cowboy Gang, notorious bandits who have topped the Most Wanted list for the past year. The crooks have fled to Rio Malo and settled in under the protection of corrupt town officials. Now, with new recruits including the infamous Russian assassin Kura Stabitz, they’re robbing banks and trains on both sides of the border.
I hope you enjoy the books I have chosen for you to read. Visit www.sno-isle.org/mill-creek to view other wonderful books that are available. All online services and resources continue to be available. Sno-Isle Libraries are offering in-building services. Visit there site here, www.sno-isle.org/mill-creek
written by Chasity Rodriguez
Social Media Director
November Artist of the Month
Every Month our office holds space for an Artist of the Month. We display their work at our Mill Creek Town Center location for the whole month. Its a great opportunity for the artist! We love supporting our community and this is just one way of showing how much we love it.
This month for November we have an artist by the name of Jim Schleis. He specializes in acrylic painting and loves to add texture, depth and liveliness to each one of his canvas he creates. Jim was born in 1939 in Manitowoc, Wisconsin. He started his artistic endeavors in the ‘50’s with painting, pottery, and stagecraft projects. He started with water colors but is exclusive to only acrylic medium. He only paints subjects he has personally seen and photographed, most often using landscapes or tourist subjects observed while traveling. His paintings portray subjects found in the United States, England, Germany, Holland, and Turkey. Jim has a theatrical background in over 100 productions including scenery design, scenery and set construction, scene painting and decoration, lighting design and execution, and technical direction. He has participated in many workshops becoming a mentor and tutor to art teachers and young aspiring artists along the way. His work has been shown at the Bothell Arts Fair and in the High Country Artists associates members art shows at the Carpenter House Museum in Cle Elum and various other venues in Kittitas, King, and Snohomish counties. You can visit his website to view more of his incredible work at jimschleisart.com.
Social Media Director
Blog written Chasity Rodriguez
Best Bakeries To Visit
If you live in the Mill Creek area you know we have an awesome selection of food choices but did you know we also have some really great local bakeries too! I have compiled a list of some of the Best Bakeries To Visit!
Mon Amie Bakery – 914 164th ST SE Suite B8, Mill Creek
“Mon Amie” means ‘my friend,’ in French, and began with a love for baking, coffee, and France. They serve pastries, cookies, desserts, breads, breakfast and lunch! They use the finest and freshest local ingredients prepared daily. Hungry for more….. they have delicious sandwiches made on fresh baguettes and croissants, tasty salads, and hearty soups made from scratch. You will also have to try there slow roasted gourmet coffee, provided by Pegasus (since 1979). The founder and roaster of Pegasus coffee, David Dessinger, only chooses the best coffee beans and roasts from our own Bainbridge Island. He has been diligent about this the past 34 years, and will not settle for any less!
Bequest Coffee Co. – 15111 Main St, Unit A105, Mill Creek
Bequest Coffee Co is a family-owned coffee shop that serves much more than coffee! The owners are passionate about connecting with people and loves helping customers connect with their brand and products. They offer a number of goodies like acacia bowls, smoothies, breakfast sandwiches and omelets, paninis, homemade pastries including cookies, scones, banana bread and cinnamons rolls. They also have a very extensive Happy Hour Menu as well with salads, small bites and flatbreads! You can enjoy a nice glass of wine or beer on tap. You will feel like family when you walk in to be greeted by staff.
Frost – 15217 Main Street, Mill Creek
Frost donuts located in the Mill Creek Town Center is Voted Seattle’s Best Doughnut by Seattle Metropolitan Magazine. They have featured donuts, macaroons, and their Bespoke Coffee Roast. They also offer a luncheonette menu. Perfect for a grab n go breakfast or lunch sandwich, pancakes, French toast, and omelets. You will be hit with a sweet smell when you walk in.
L’Artisan French Bakery and Café – 11419 19th Avenue SE B103, Everett
L’Artisan French Bakery and Café offers Fabulous French breads, cakes, tarts, and pastries made in the true French tradition where beauty meets taste. Bon Appétit! They have sandwiches too if you want to grab a quick lunch. Definitely have to try them if you are in the area!
Hill Crest Bakery – 10010 Main St, Bothell
Hillcrest Bakery was started by the Kaskes Family. They began a baking tradition that continues through present day now in two countries. The Kaskes Bakery is still flourishing in The Netherlands as are we here at Hillcrest Bakery in the United States. Today they have three generations working at Hillcrest Bakery. They offer Dutch and European Pastries, breads, cookies and specialty cakes.
written by Chasity Rodriguez
Social Media Director
Fall Reading List
These are my reading picks through the Fall months. I hope you enjoy them along with other reading options through Sno-Isle Libraries which is open for in person services. All online services and resources continue to be available as well. Visit there site here, sno-isle.org
How to be Fearless in 7 Simple Steps by Hagy, Jessica
“A visual infographic self-help book from the Seattle-based master of the venn diagram, Jessica Hagy, author of How to Be Interesting. This book empowers readers to see themselves as capable and powerful even when beset by worry and worrying messaging”–
Evidence Not Seen by
The True story one one woman’s triumph of faith. Newlywed American missionary Darlene Deibler Rose survived four years in a notorious Japanese prison camp set deep in the jungles of New Guinea. Thinking she was never to see her husband again, Darlene Rose was forced to sign a false confession and face the executioner’s sword, only to be miraculously spared.
I hope you enjoy the books I have chosen for you to read. Visit sno-isle.org to view other wonderful books that are available. All online services and resources continue to be available. Sno-Isle Libraries are offering in-building services. Visit there site here, sno-isle.org
written by Chasity Rodriguez
Social Media Director
Free Things You Can Do Today to Get Ready to Buy a Home
The path to homeownership is a marathon, not a sprint if we can help it. If you’re months (or maybe even years) away from being ready to own, there are still things you can start doing today to help you on your path to becoming a homeowner. And they’re all free, there’s nothing to stop you from getting started right now.
Find the perfect agent.
The best advice for people who are currently unable to purchase a home would be to plant some seeds in the homebuying process. You have to start somewhere, right? The first step is to find an agent who is patient and willing to work with you while you figure out your finances. Some buyers purchased up to three years after the initial introduction, so it’s always best to find an agent who is patient.
Talk to a lender.
While you’re getting set up with an agent who is comfortable being with you for the long haul you should also be reaching out to a mortgage lender. They will walk you through the process including what you’ll be able to reasonably afford, how much you’ll need to be saving for a down payment, and what you’re looking at when it comes to closing costs.
Set some goals.
Now you have a good understanding of what you might be able to afford, how much money you need to save, and how much debt you need to pay off. Now start “window shopping” with your agent. Select the neighborhood, bedroom and bathroom count, and of course the budget to see what type of home you can get in your preferred area. Make a list of homes you want to see but do most of it virtually, if something catches your eye then write it down as a must see.
Don’t get attached.
Spending every weekend cruising open houses or getting attached to any one property is not going to help. The beauty of working with a good agent is that window shopping is a great way to save time, view apartments and homes virtually. If one really catches your eye that fits the budget, it doesn’t hurt to view in person to get a better understanding of the market.
Ignore listing prices and focus on the final sales price.
Keeping an eye on the market is key because some homes aren’t listed anywhere near what their actual selling price will be, which can give hopeful buyers the wrong idea about how much house they can actually get with their budget. Some homes and apartments are priced low to gain traction and ultimately end up in a bidding war so it’s good to know what they actually sell for as data points to use when ready to start looking and submitting offers.
blog post by Chasity Rodriguez
Social Media Director
Features To Never Touch When Renovating Your Home
No matter what type of renovation project you’ve got planned, it’s smart to put down the hammer when it comes to removing, painting over, or otherwise altering certain features. Sure, the feature might look like an eyesore at first glance, but with some work, it could end up adding character, charm, and make it unique.
Here are common features that homeowners should consider leaving untouched, or even restore to their former glory.
Mantels or exposed beams
Under layers and layers of previous homeowner paint, you may find salvageable wood that today’s homeowners are seeking. With some elbow grease, these beautiful pieces of timber from the past can be uncovered, sanded, and stained. An original wood mantel that you decide to strip may even fit perfectly on your newly updated fireplace, saving you even more money.
Original hardwood flooring
Original flooring can be refinished, which can be a huge cost saver. Also, since the wood floor is already in place, it can be stained to your preference. Before you start any flooring projects, get a look under your current flooring. Have your contractor lift up every layer until you come to the subfloor. This is the only way to be sure someone hasn’t covered up attractive hardwood.
Millwork like rosettes, crown molding, and ceiling medallions
Before you wield the pry bar on door and window trim, baseboard, or crown molding, take a look at what you have. You may be able to preserve period craftsmanship like rosettes, fancy pediments above doors, and details as ceiling medallions. You may be able to reuse a ceiling medallion in your dining room, or save casings, trim, or moldings with elements like rosettes to reuse. Consider restoring or repurposing these artisan treasures to show off.
Banquettes and butler pantries
Features like butler pantries and banquettes (built-in bench seating) may hail from decades past, but homeowners are opting for many of these formerly dated details. You may not have a butler, but a butler pantry makes a fabulous coffee station. Meanwhile a banquette can be updated for use in an off-the-kitchen office space, breakfast nook, or kids crafts area.
Pocket doors, doorway arches, and rounded stairs
Pocket doors (which slide rather than swing open) were seen as early as the 1850s. So were doorway arches and rounded stairs. These architectural elements later disappeared, due to changing tastes. Lately, however, builders are adding these features again in new homes.
Crown glass and stained glass
If you have special glass, like crown glass (hand-blown in the 19th century into small diamonds or square panes) or stained glass ( popular in the 1850s), every effort should be made to preserve these gems. Preserving old glass does take a professional for anything other than cleaning, but it’s well worth the investment. You can also relocate these windows to a bathroom or entryway, or even inside your home, for a pop of nostalgic color.
In sum, every period detail or element you find in your home merits a the question, “What can I do with this?”
blog post by Chasity Rodriguez
Social Media Director
Tips For Amping Up Your Home Security While On Vacation
We all look forward to vacations for months, and it’s maybe the only opportunity to enjoy a few consecutive stress-free days away from the typical day-to-day pressures of work and life. You’ll want to make sure that while you’re away, your home is safe and secure.
The most obvious option is to invest in some high-end home security devices; however, those can be very pricy, and wouldn’t you rather put that money toward your getaway instead? If so, we’ve got you covered with five tips that you can use to increase the security of your home while you’re on your next vacation.
1. Set Your Lights on a Timer
Having lights on in your home is one of the most obvious indicators that the home is not empty. However, if you’re planning to go away for several days, or several weeks at a time, keeping the lights on for the entire duration of your trip is not only going to drive your electric bill through the roof, but it’s also dangerous as it poses a risk for fires.
Light timers are a great and cost-effective way to increase the security of your home while you’re away. You can set the timers to automatically turn your lights on and off at the same times that they typically would be if you were home. You can set up a few throughout the different floors of your home so it appears that people are around and occupying both the upstairs and downstairs.
2. Have a Friend Check in on Your Home
If you’re going to be away for more than a day or so, a smart idea is to have a trusted friend or neighbor come by to check up on your home a couple of times. Not only will this help to ensure that everything is right within your home, but it will also bring some motion and human presence to your house.
3. Keep a Car in the Driveway
Unless you have to use your car to get to your vacation destination, leaving it parked in the driveway can be a a great option for increasing your home’s security while you’re not there. It’s all about creating the illusion that someone is home, even when that’s not the case. Although you might be planning to use your car to drive to where you’re going. If that’s the case, a good alternative is to ask a nearby friend or neighbor if they would be willing to park their car in your driveway while you’re away. To sweeten the deal, offer to pay for their next carwash when you get back.
4. Be Mindful of Your Curtains and Blinds
If you typically keep your blinds closed throughout the day, keep them closed while you’re away. However, if it’s more common for you to leave them open for the majority of the day, mimic this while you’re gone, and make the choice to keep them open. The recurring theme here is doing little things in order to generate the impression that you’re still home, so consider leaving your curtains and blinds in a position that is more like how they are on a normal daily basis.
5. Create a Decoy Security System
By putting up decoy security signs, stickers and even imitation cameras in plain sight, you’re increasing your chances of deterring trespassers from trying to enter your home or approach your property. If it looks like a security system is installed, and it’s not hidden, it’s unlikely that someone would try to break in if they saw it.
While we don’t recommend this as your only means of protecting your home but by putting up decoy security signs, stickers and even imitation cameras in plain sight, you’re increasing your chances of deterring trespassers. If it looks like a security system is installed, and it’s not hidden, it’s unlikely that someone would try to break in if they saw it. This should help to give you the peace of mind that you need in order to enjoy your vacation and know that your home will be adequately safe and secure until you return back.
blog post by Chasity Rodriguez
Social Media Director
The Guide to Closing Costs
The costs involved in buying and selling a home are often negotiable as part of the real estate deal. For example, a buyer may be willing to offer the full asking price, as long as the seller is willing to cover the cost of a home inspection and deed transfer tax.
Who pays certain fees? Depends on location – states have different real estate laws, and counties or cities may have their own standard practices for real estate transactions.
Here’s a breakdown of what buyers and sellers can expect to pay when closing on a home sale.
- Deed transfer tax.
- Recording fee.
- Title search and title insurance.
- Settlement fee.
- Loan application fee.
- Loan origination fee.
- Points.
- Home inspection.
- Appraisal.
- Survey.
- Building or homeowners association fees.
- Existing liens.
- Real estate brokerage commissions.
- Attorney’s fees.
- Mortgage payoff penalty.
Transfer Tax
Who typically pays? Seller, buyer or both.
Often referred to as the deed transfer tax or real estate transfer tax, this is a required fee that’s separate from property tax. The transfer tax is levied for the transfer of the deed to new ownership, and the buyer and seller may negotiate who covers the total cost.
Recording Fee
Who typically pays? The seller, buyer or both.
The recording fee can be levied by the state or local government to cover the cost of filing the deed and mortgage information in the public record. In many state and local governments throughout the U.S., the transfer tax and recording fee are one and the same, while others keep the two required payments separate. While the transfer tax is a percentage of the sale price, the recording fee is typically a flat amount.
Title Search and Title Insurance
Who typically pays? The buyer.
Before you take ownership of a property, it’s important to make sure there aren’t any existing liens or other claims of ownership. Title insurance protects you from future claims to the property and often includes the cost of the title search. Homebuyers can purchase title insurance for their own protection at the same time they pay for title insurance for their lender, which is often a required step in getting a mortgage and similarly protects the lender from claims to the property.
The cost of title insurance varies based on the value of the property, but many homebuyers pay between $1,000 and $2,000. Lenders and real estate agents often have title insurance companies they work with regularly.
Settlement Fee
Who typically pays? The buyer or seller.
A title insurance company, escrow agent or attorney may handle the transfer of funds in the sale of a property and charge an additional fee for the work done at closing. The settlement fee could be directed at the buyer, seller or both. However, this fee, which may be included in title charges or attorney’s fees and is often at least a few hundred dollars, This also can be negotiated between the buyer or seller to sweeten the deal beyond the sale price.
Loan Application Fee
Who typically pays? The buyer.
Some lenders levy a fee upon formal application for a mortgage, primarily to ensure the buyer is serious. This is a flat fee, often as small as $25.
Loan Origination Fee
Who typically pays? The buyer.
Loan origination typically covers the underwriting process – when the lender determines whether you are worthy of a mortgage. Your lender may charge separately for various costs that would otherwise fall under loan origination – namely, the credit check to determine your creditworthiness for a mortgage. Other lenders keep the credit check “fully lumped into one fee. Loan origination fees are around 1% of the total mortgage amount.
Points
Who typically pays? The buyer.
At closing, a homebuyer getting a mortgage may pay additional fees to the lender to reduce the interest rate for the loan. One point is the equivalent of 1% of the loan, so if you’d like to pay down 2 points of a $300,000 mortgage, for example, you would pay $6,000 for your interest rate to drop from 4.5% to 4%, though how much the interest rate drops depends on you and your lender. Paying down the interest rate with points isn’t required, however. It’s solely based on cash the buyer has available and is willing to pay at the time of closing. Paying points can be a valuable tool for reducing the total cost of the loan, although it does increase what you pay at closing.
Home Inspection
Who typically pays? The buyer.
During the due diligence period before closing, a certified professional often conducts a home inspection to check the condition of the home and point out maintenance issues, necessary repairs or possible code violations. Some lenders require an inspection to check for defects that may not be apparent in an appraisal, but buyers often opt for an inspection to learn what repairs will be needed after they get the keys. While the cost of inspection typically falls to the buyer, this expense is negotiable. A home seller may also choose to have a prelisting inspection, which the buyer can accept or opt for additional inspection during the due diligence process. Reports the typical price range for a home inspection is between $278 and $390, but it varies depending on the inspector and size of the home.
Appraisal
Who typically pays? The buyer.
Many lenders require an appraisal to determine the property’s value before approving a purchase loan and to ensure it matches or exceeds the agreed-upon sale price. An appraisal helps reduce the lender’s losses in a the scenario where the borrower defaults on the loan.
Survey
Who typically pays? The buyer.
If there’s any confusion about where the property starts and ends, a property survey may be necessary. To determine the definitive boundaries of a property, it’s typically best to contact a professional surveyor who can follow the precise measurements of the property’s legal description. Also, a survey may be required by the lender, which naturally falls to the buyer to pay. However, this expense may be negotiated to become the seller’s responsibility.
Building or Homeowners Association Fees
Who typically pays? The buyer.
If the home you purchase is part of a community managed by a homeowners association, you may be required to join an HOA and pay the associated fees at closing in addition to monthly or annual dues. These fees differ by state, community and building, buyers should keep them in mind when making an offer. A seller may be willing to cover a hefty HOA fee in exchange for a slightly higher sale price.
Existing Liens
Who typically pays? The seller.
If a lien is discovered during the title search, the issue must be resolved before the deed can be transferred to new ownership. In some cases where the seller is unaware of the lien or now has the funds to right the issue, the seller is responsible for working with the lien holder to resolve the issue. In cases where the seller is unable to pay, however, the buyer can decide if he or she wants to try to resolve the lien or walk away from the deal.
Real Estate Brokerage Commissions
Who typically pays? The seller.
No doubt that real estate agents get paid once a deal closes. Traditionally, the seller pays the commission to the real estate brokerages that represented both the buyer and seller from the proceeds of the sale, which typically runs between 5% and 6%, split between the two brokerages. The real estate agents then receive their share of the commission.
Mortgage Payoff Penalty
Who typically pays? The seller.
Before you sell your home, check your existing mortgage agreement to see if there are any penalties associated with paying off your mortgage before the end of its term. The penalty may vary based on a percentage of the loan – 3%, for example – or a certain number of months’ worth of interest payments. The Consumer Financial Protection Bureau notes that any prepayment penalty must be included as a clause in your original mortgage statement.
Blog Post by Chasity Rodriguez
Social Media Director
How Much Down Payment Do You Need for a House?
Before you start shopping for a home, you need to know what you can afford – and a big part of that depends on how much you can afford as a down payment.
But how much down payment do you need to be able to afford the house you want? The answer isn’t the same for everyone, but key information can help you determine the right amount to save. Also the mortgage programs to explore and other resources to consider to help you buy the right home.
What’s a Typical Down Payment Amount?
Beyond being able to buy a home with cash, many lenders and consumers view a 20% down payment with a 30-year, fixed-rate mortgage as ideal. Whether or not it’s accurate is a different story, but that’s what people see as the gold standard.
However, the typical U.S. homebuyer is putting far less money on the table at closing. The median down payment is 12%, according to the National Association of Realtors 2021 Home Buyer and Seller Generational Trends report. Broken out into age groups, buyers 22 to 30 years old put down a median of 6% of the loan value, while buyers ages 31 to 40 put 10% down, buyers 41 to 55 put a median of 13% down and buyers 56 to 65 put a median of 18% down. Only seniors, ages 66 and up, provide a median of more than 20% of the loan value as a down payment.
Types of Low Down Payment Mortgage Options
The amount of down payment needed for you to be able to secure financing for a home depends on the type of mortgage you qualify for. Your credit score and history, current income and savings all play a role. To help you find the right mortgage program to fit your situation, seek out a professional financial expert who can help you explore all options.
Our recommendation is (for homebuyers) to find a (U.S. Department of Housing and Urban Development) counseling agency that can work with them one on one. HUD-approved counseling agencies offer free counseling, either in a group or one on one and can be found on HUD’s website.
Here are the mortgage options that can allow for a low down payment:
- Conventional loan. A conventional mortgage is offered by a private lender, often a bank, credit union or non-bank lender, like Quicken Loans. A conventional mortgage that meets criteria from Fannie Mae or Freddie Mac may be purchased from the lender by these government-sponsored entities after the mortgage has been issued, and then sold to investors. Many banks and non-bank lenders offer conventional loans requiring less than 20% down. Fannie Mae and Freddie Mac both have programs requiring just 3.5% down. If you’re putting less than 20% down, however, you will be required to pay mortgage insurance for a conventional loan, which increases your monthly payment.
- FHA loan. A mortgage insured by the Federal Housing Administration often allows for a lower down payment and may be more flexible with credit score requirements than many conventional mortgages. An FHA loan is still issued by a bank or other lender, but it is approved and insured by the FHA. The minimum down payment required for an FHA loan is 3.5%, but mortgage insurance is required. The FHA allows for mortgage insurance at 1.75% of the loan amount to be paid at closing, or for mortgage insurance to be rolled into the loan.
- VA loan. A loan insured by the U.S. Department of Veterans Affairs can help active duty military, veterans and their families purchase a home. With a VA loan you may have the option to have a zero percent down payment. There are limits to the size of the loan if no down payment is provided, and those limits depend on the location of the purchase.
- USDA loan. The U.S. Department of Agriculture also offers a zero percent down mortgage program for properties located in eligible rural areas through its Rural Development Guaranteed Housing Loan Program. In addition to the rural setting, the USDA’s zero-down program is aimed at low-income residents looking to achieve homeownership.
In exploring your options, you may find you qualify for multiple programs. Especially in a housing market where multiple bids are common, keep in mind that the mortgage program you choose gets scrutinized by the seller when you submit an offer.
Right now sellers are looking for stronger down payments … but they just want to be sure you can secure financing. Some sellers may view a VA or FHA loan as less desirable than a conventional mortgage because the VA and FHA programs require additional steps for approval. While this doesn’t necessarily make them less likely to be approved, a seller may view them as less appealing than a competing offer with a conventional mortgage.
Private Mortgage Insurance
Private mortgage insurance serves as protection for the lender on the chance that the borrower defaults on his or her loan, and it is only required when the buyer has put less than 20% down. PMI may either be paid up front, at closing or in monthly installments as part of the mortgage payment. However, adding to the monthly cost can be a slippery slope toward becoming house-poor. It’s really the mortgage insurance that makes (a home) less affordable. To avoid taking on a monthly payment that’s too high, determine the monthly payment you can afford first and set your budget based on that, even if PMI considerations for a low down payment lowers your budget for a home.
Down Payment Assistance
Even if a down payment as low as 3.5% feels out of reach, know that you have options to help you achieve homeownership without having to save for a decade. Down payment assistance programs are widespread throughout the U.S. to help provide the one-time funds necessary to afford a down payment. Some down payment assistance programs serve as a second lien on the home, which can be paid back slowly or forgiven after a certain number of years of owning the home. Other programs serve as a grant, giving eligible homeowners money for a down payment with no payback required.
A good place to start looking for assistance you qualify for is with your state government – most states have first-time homebuyer programs that include various forms of down payment assistance. A housing counselor, financial advisor or even your real estate agent can help you find a program to help you with your down payment.
Why You Should Save for More Than Your Down Payment
Before you calculate what you’ll need for a down payment based on every cent you have in savings, don’t forget that you’ll also need to cover closing costs and have some financial cushion once you’re a homeowner. Closing costs vary based on the cost of your home and where it’s located, but often add up to between 3% and 6% of the purchase price. Some down payment assistance programs will also cover closing costs, but that is a detail you should clarify in advance. After you close on your home, you should have at least a couple thousand dollars in savings to serve as a rainy day fund – in case your air conditioning breaks on the hottest day of the year or you discover a leak in your roof.
While you save up for these additional costs to purchase a home, don’t go overboard to try to reach your goal faster. Save an amount of money each month that’s within your comfort zone. You may opt to forego takeout meals for the foreseeable future to save more, for example, but eating instant ramen for months on end to drastically cut grocery costs is unnecessary.
Blog post by Chasity
Social Media Director
