Refinancing Fee Delayed

September 16th, 2020

If you’re considering refinancing your mortgage and taking advantage of the currently low interest rates, here’s good news.

A new fee on mortgage refinances that was set to take effect September 1 has been delayed. The Federal Housing Finance Agency (FHFA) will delay enforcing the fee until Dec. 1. Borrowers with loan balances below $125,000 will not be charged the fee at all. The fee in question is the “adverse market refinance fee,” a 0.5% charge that will be added to all mortgage refinances sold to Fannie Mae and Freddie Mac, government entities that purchase the majority of mortgages.  This article from Forbes explains it all.

The bottom line? If you’re planning to refinance, do it now, before the fee adds to your cost.

Lower Interest Rates. Higher Standards.

September 1st, 2020

Mortgage interest rates continue to be at historic lows.  That makes it a great time to buy a home – if you can qualify. While the pandemic has kept rates down, banks are hedging their bets against economic uncertainty by raising the qualification standards for getting a mortgage. According to Michaelle Bond, writing for the Philadelphia Inquirer, some lenders are raising the minimum credit score by 100 points, and taking a more restrictive view of debt Read More...

Home Building is Way Up!

August 25th, 2020

Despite the pandemic, sales of newly built, single-family homes have reached the highest level since the Great Recession. According to the National Association of Home Builders, increasing consumer demand is being seen in the suburbs, exurbs and rural areas. That makes sense to us, as the suburbs offer plenty of space for healthy outdoor activity, as well as the opportunity to own a more spacious home compared to urban areas Read More...

Cures for Kid Cabin Fever

August 18th, 2020

Summer is normally a time for fun with friends. Instead parents are desperately trying to keep everyone from pandemic pandemonium. Parade Magazine’s 125 Ideas for Avoiding Cabin Fever with Kids can help.  Most of the ideas are simple and you can probably get them going with things you already have around the house Read More...

Work from Home. Live Anywhere.

August 11th, 2020

Traditionally, people choose their home location based on proximity to their job.  But, COVID-19 has changed things.  Many people will continue working remotely even when the pandemic has subsided.  If that’s you, you may have realized that you are no longer tied to a specific location, and can live anywhere that has a good internet connection Read More...

Hit the Bike Trails!

August 4th, 2020

In case you haven’t heard, bikes are back in a big way.  As COVID-19 has curtailed most social activities, adults and kids of all ages have rediscovered the joy of riding and exploring on two wheels. For those who live in the Philadelphia region, there are miles and miles of beautiful paved trails for road bikes and beach cruisers, as well as rugged trails for mountain biking Read More...

Cook-at-Home Freebies

July 28th, 2020

Although outdoor dining is now permitted in most places, you may still feel uneasy being out and about. You might also be running out of recipes for cooking at home. America’s Test Kitchen is coming to the rescue with 50 FREE recipes you can add to your culinary collection. Included are pantry meals, make and freeze baking projects, and delicious and creative ideas for putting a delicious twist on the same-old, same-old Read More...

No Prohibition on the Speak Easy!

July 21st, 2020

Quarantine times have put a whole new focus on amenities that make staying at home more enjoyable. A few homeowners who’ve missed the fun and social atmosphere of their favorite watering holes have created their own in-home speak-easy lounges. Modeled after the once-secret spots where people would gather for adult beverages during the time of Prohibition, today’s speak-easy offers a place for friends and family to imbibe and interact (preferably in a safe, COVID-appropriate way) Read More...

Summer Camp is Back!

July 15th, 2020

COVID restrictions have been lifted just in time for summer camp in many areas. If you live in – or are considering a move to – Plymouth Township, your kids have an incredible array of fun opportunities in store. This wealth of family activities is just one of the reasons Sal Paone Builders has chosen this vibrant area for our latest new home community, Plymouth Valley Estates Read More...

Creating a Cook’s Kitchen

June 30th, 2020

For many of us, “stay at home” has evolved into “what’s cooking?” Everyone’s baking bread, trying new recipes and getting creative with all the forgotten ingredients at the back of the pantry. It’s a great time to think about making your kitchen experience better with upgrades that can create a real cook’s kitchen Read More...