Mortgages

Is a Home Security System Worth the Money?

Your Local
Atlanta Mortgage Lender’s
Guide To Automating A Home

Most smart home systems work similarly. In the simplest terms, your smart components — lights or door locks, for example — receive commands from a smartphone app or another central data hub, process those commands, and take appropriate action.

If you have a smart garage door opener, for instance, you can use your smartphone to check whether your teenager remembered to close the garage door when he left for school. If he didn’t, a tap of a button from your app will close the garage door (and restore your peace of mind). You’ll find that most home automation products are typically equipped with Wi-Fi and/or Bluetooth technology.

Most gadgets connect to a hub, which you can communicate with via a smartphone app or voice command. Today, most manufacturers design their home automation products to be compatible with one another and with most types of hubs. Devices such as Google Home and Amazon Echo can also function as hubs for many types of systems.

If the idea of talking to your phone or a smart speaker isn’t particularly appealing to you, set schedules for your smart devices instead. For example, smart outlets, light bulbs, and appliances give you the ability to have your coffeemaker and your kitchen lights turn on just before you come downstairs each morning to start your day. Certain smart devices can also gradually learn your preferences based on adjustments and changes you make to the device settings.

Common Types of Smart Home Gadgets

Your home’s lighting is an area where automation can make practical sense. Smart solutions address the common problem of forgetting to turn off lights or of fumbling to turn on a switch in a dark room. Some advantages of automating your lights include electricity savings and added convenience.

With many systems, the smart technology is built into the light bulbs themselves, so there’s no need to replace your fixtures. This means you don’t even have to own your home to benefit from this innovation, as it does not require you to make any modifications a landlord would object to.

Smart lighting is about more than being able to regulate your lights without pressing a switch. You’ll see savings in energy costs, and you might even discover that a smart light bulb set to your wake-up schedule makes a far gentler alarm clock than a blaring tone.

Climate Control

Smart thermostats are so popular (and available in a wide range of price points) that they’re on the verge of becoming the norm. Use a smart thermostat to fine-tune your HVAC system’s optimal, most energy-efficient heating and cooling settings. This ensures that you’ll be able to maintain the right temperature indoors regardless of the time of day.

Because smart thermostats help reduce energy consumption (and therefore cause less strain on the power grid), many electric companies and local governments offer rebates or other incentives for purchase and installation.

Home Security

Smart security systems may include a variety of components, including glass-break sensors, motion detectors, and cameras. Everyone’s home security needs are different, so your best bet is to opt for a system that is highly customizable and flexible, should you choose to add components in the future.

Check out our overview of the most popular smart security system components: Smart Doorbells.

A popular smart security system product is the smart doorbell camera. Smart doorbell cameras activate when someone approaches the door or rings the bell. You receive an alert on your phone and can view the camera. Some video doorbell products on the market also allow you to speak to the person at your door and hear their responses.

Smart security cameras. Incorporating cameras into your smart security system adds another layer of safety to your home. Smart security cameras can be placed in strategic spots on the exterior (or interior) of your home. Most cameras can be controlled via a smartphone app and automatically upload footage to cloud storage.

Smart door locks. While you shouldn’t toss your keys in the trash just yet, smart locks do offer convenience and security. You’ll find a wide range of options on the market, from keyless entry locksets that require a code to unlock to locks that respond to commands via a smartphone app.

Smart smoke and carbon monoxide detectors. Smoke (and carbon monoxide, if you have any gas appliances) detectors are a must-have for every home, and smart versions of these devices are a great way to give yourself additional peace of mind. If the device senses smoke or carbon monoxide, it sounds a loud alarm and sends an alert to your smartphone.

From a fridge that monitors its contents and reminds you to stock up to an egg tray that counts your eggs, the kitchen is full of appliances and devices that work well with automation. Like other smart devices, you communicate with your smart kitchen tools via an app on your smartphone. You can also use voice control, which is great for when you have your hands full.

Because there are so many options, it is important to plan your smart kitchen well. Give careful consideration to your budget, how much time you usually spend cooking, and what you hope to accomplish with a smart kitchen device.

Contact Us

For more information on top home renovations that pay off or to get started on your home loan application, please contact your local mortgage lender in Atlanta, Milend, Inc., at 855-645-3631.

Before you begin the application process for an Atlanta mortgage, such as with MiLEND, Inc., there are a few useful questions you should ask a mortgage professional. So, to help you get started, your local mortgage lender with MiLend has listed 5 useful questions that every first-time buyer should know before they begin the process of becoming a homeowner.

Question #1: What If I Don’t Have A Perfect Credit Score?

Having a perfect credit score is not a pre-requisite in becoming a homeowner. The best Atlanta mortgage lender should do everything they can to help ensure you get a low rate on your mortgage.

There are also government-backed loans, such as an FHA loan, that has a minimum credit score requirement which are generally much lower than a conventional mortgage loan requires and is perfect for those who have a low credit score and a low income.

Question #2: Should I Get Pre-Approved?

Getting pre-approved has a lot of additional benefits for you while you begin the application process. For example, your mortgage lender will review your finances and let you know your affordability through a pre-approval, this can help you save time when viewing different homes so you avoid shopping outside your budget.

Also, most real estate agents refuse to work with buyers who have not been pre-approved, so if you wish to work with a professional and have more access to real estate listings, then getting pre-approved might be your best option.

Question #3: Do I Have To Use The Same Lender That Pre-Approved Me For My Mortgage?

If you get pre-approved, you do not have to use the same Atlanta mortgage lender for your mortgage application. You have no financial obligation to work with them and instead, you can shop around with different lenders to find the one that gives you the best deal for your goals as a homeowner. With that being said, the Lender you are pre-approved with will be able to process and close your loan faster because they will already have your information.

Question #4: What If I Pay Less Than 20% Towards My Down Payment?

If you pay less than 20% for your down payment, you will be required to obtain private mortgage insurance. This is a fee that can either be added onto your mortgage payments every month or is a one-time upfront cost. This insurance is required so the lender is protected in case the borrower fails to make a mortgage payment.

Question #5: Is A 15-Year Mortgage Better Than A 30-Year Mortgage?

A 15-year mortgage is not necessarily better than a 30-year mortgage, it just depends on what you are trying to achieve. If you want to have a higher monthly payment but pay less in interest over time or just want to pay your mortgage off quicker, then you should look into getting a 15-year mortgage. However, if you have a lower income and are wanting smaller monthly payments with a higher interest rate, than a 30-year mortgage may be your best option.

Contact Us

If you would like to receive more information on the top 5 questions to ask your Atlanta mortgage lender or if you are looking to begin your home loan application, please contact the MiLend team at 855-645-3631. All of MiLEND’s Mortgage Loan Originators are State licensed in whatever States they do business in and are registered with the Nationwide Multistate Licensing System (NMLS) as a professional Mortgage Loan Originator.

If you are looking to update your home before you sell, there are a few home renovations you should be aware of that give you the biggest return on investment. So, to help you get started, your local Atlanta mortgage lender with Milend, Inc. has listed the top home renovations that pay off.

#1: Kitchen and Bathrooms

Regardless if you are selling your home in a prime location, updating your kitchen and bathrooms can appeal to anyone. Most home buyers want that new modern look for their kitchen and bathroom so spending the money and time to update these areas can almost guarantee a 100% return on investment. When buyers view a home, they can immediately tell if a lot of money went into remodeling the kitchen or the bathrooms so, update these areas to appeal to more people.

Now, updating a kitchen or bathroom might be your biggest renovation cost, so if you are looking for ways to afford these projects, you may want to consider refinancing your Atlanta mortgage. You can tap into your home equity through a mortgage refinance or a second mortgage and use this amount to help update your home. Contact your local lender for more information.

#2: Curb Appeal

How the outside of your house looks is the first impression it will make on a buyer. Therefore, it is worth the expense to update this area of your house. If the seller’s come up to your property and are immediately turned off by the exterior appearance, they will most likely not even bother coming inside. This means it would be helpful to add some fresh flowers and new mulch to give your yard a cleaner, newer feel. It would also be beneficial to touch up any chipped paint on the outside of your home.

#3: Home Expansion

If you have an older home where the rooms are smaller and the hallways are narrow, you may want to consider expanding your house. Adding some extra rooms or enlarging the current ones can help appeal to more seller’s. If the rooms are too small, home buyers may feel too claustrophobic and lose interest in your home.

Also, according to this Home Improvement Show, you could earn an increase of at least 30% on your home’s asking price by every 1,000 square feet you add, which means it could financially be in your best interest to add some extra space.

Contact Us

For more information on top home renovations that pay off or to get started on your home loan application, please contact your local mortgage lender in Atlanta, Milend, Inc., at 855-645-3631.

With the holidays behind us,  If you are not well-prepared you could end up paying unmanageable interest on credit card interest.  The ability to save money is important this time of year. So, to help avoid these problems, our team at Milend, Inc. suggests that you add these items to your resolution list.

#1. Brown Bagging!

Eating out during the work or school day is undeniably convenient. There’s no scrounging in the cupboards for something to prepare, searching for forks when you forgot yours at home or eating cold spaghetti when the office microwave is out of order.

But what’s better than convenience? Keeping money in your wallet.

The fact that packing lunch is cheaper than buying lunch isn’t surprising. What is surprising is just how much money you can save by brown-bagging it. In fact, some simple math might be enough to convince you to do away with takeout lunches permanently.

Let’s say your preferred takeout lunch is a deli sandwich with a drink. With taxes, your total is about $10. If that’s your lunch choice five days out of seven, you’re spending $50 a week, $200 a month, $2,600 each year.

What if you make that same sandwich at home? Maybe the ingredients (a loaf of bread, cheese, and sliced meat) cost you $15 up front, and they make about five sandwiches. Now your cost is $3 per sandwich, for a total of $15 a week, $60 a month, $780 a year. That’s a yearly savings of $1,820!

There’s another kind of savings that comes with bringing your own lunch: calories. While how many calories you can save depends on what you choose to bring, home-cooked meals are typically more healthful than takeout is.

No, this lunch switch won’t make you a millionaire. Still, with fewer calories and lower cost, all these savings might make that brown bag look more enticing.

#2. Need a Tip on How Much You Should Tip?

Should you tip them or simply say thank you? Discerning when to tip and how much can be stressful. Thankfully, there are generally accepted practices you can adhere to that will make this task easier.

Food and drink: For food delivery, tip $2-$4. For bartenders, tip them $1 per drink. Tip restaurant servers 15-20 percent of the bill.

Travel: Expect to give those who carry your bags, whether porters at airports or bellhops, $1 or $2 for each item. At hotels, pay special attention to the housekeeping staff. Your tip should reflect the quality of the hotel; the more expensive the accommodations, the greater the tip. Also, tip each day. The housekeeping staff may change during your time there. Lastly, read bills for room service carefully before tipping. Additional “service charges” don’t cover the tip, but a “gratuity” does.

Holidays: If you have a nanny or housekeeper, an appropriate holiday bonus is equivalent to one week’s pay. Be especially generous to the person who delivers newspapers. Keep in mind that adults, not children, are doing that job now. It’s never too late give this gift if you happen to have forgotten.

Optional tip: There are times when tipping is optional. It doesn’t hurt to give a barista some spare change as a tip, but it’s not required. You don’t need to tip someone who wraps your gifts, but it might be a nice gesture.

No tip: Not every service requires a tip. House sitters, grocery store baggers, cable installers, sports instructors, and Fed Ex delivery personnel are among the individuals who are exempt from tips.

#3. Save on Your Cell Phone Upgrade

From Samsung’s Galaxy Note9 to Apple’s iPhone XS, there’s no shortage of options for anyone looking to buy a new phone. But as technology evolves and smartphones get smarter, the price tags on these devices continue to skyrocket.

Before you part with your hard-earned cash in order to upgrade your phone, make sure you follow these money-saving tips.

Out with the old: The easiest way to save coins on your new phone purchase is to trade in your old phone. In recent years, most wireless carriers and retailers have improved and expanded their trade-in programs to make the process smoother for customers. Best Buy, for example, offers a gift credit in exchange for most used devices, including smartphones, tablets, and even video game hardware. Once you’ve traded in your old device, you can use the gift credit toward your new phone.

Sell the old: Another option is to sell your device directly to another person, who may pay more for your phone than a trade-in program would. There are a number of sites to help facilitate your sale, including eBay and Swappa. That being said, make sure you prepare for the peskier buyers who ask endless questions or waffle on sending your payment.

In with the old: The best way to save money, though, might not be the most desirable: Skip the upgrade altogether. If your phone is still working but is just a little slow, there are ways to help speed things up, like replacing your device’s battery or clearing out storage. You might not have the flashiest device this way, but the savings can make up for it.

Contact Us

For more information on common pitfalls to avoid as a first-time homebuyer or to get started on your mortgage application, please contact the expert Altanta Mortgage Lender team at Milend, Inc. at 855-645-3631.