A Simple Guide to VA Loans
Homestead Title
by Becky Rolland
2y ago
In addition to the many civilian loan options on the market, there is one lending opportunity that only military service members can take advantage of, which is a government loan backed by the Department of Veteran Affairs (“VA”). Even with an imperfect credit score, active service members, veterans, and surviving spouses can qualify for this loan category.  The main benefit of this loan is that the VA will guarantee the loan and will pay the lender a certain percentage of the principal in the event of default. Here’s a breakdown of the types of VA loans and information on who ..read more
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5 Reasons to Love Your Title Company
Homestead Title
by Becky Rolland
2y ago
5 Reasons to Love Your Title Company The best title companies know how to make the experience of purchasing a home informed and efficient. Their services affect everyone involved in the transaction, making lives easier for buyers, sellers, and agents.  Here are some added benefits that great title companies offer:  1. Your Closing Will Run Smoothly From Start to Finish Doing everything yourself when preparing for a real estate closing can feel like a nightmare. Nearly every step of the way, an experienced title company will ensure your closing is efficient and stress-free.  2. A ..read more
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What Are Construction-To-Permanent Loans?
Homestead Title
by Becky Rolland
2y ago
Ready to design and build your dream home? A Construction-to-Permanent loan may be right for you. Essentially, it’s a three-stage mortgage that covers all of your new home’s construction costs. The Construction-to-Permanent (CP) loan allows you to lock in your interest rate and close the loan before work on the home begins. When the project moves to construction, the bank disburses the loan to cover the cost, and the borrower pays interest on the outstanding balance. After construction, the loan becomes a permanent mortgage, and monthly payments begin.  Here’s how CP loans work, step-by ..read more
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Keep an Eye on These Trends When Investing in Real Estate in 2022
Homestead Title
by Becky Rolland
2y ago
A global pandemic and economic woes have slowed everything down except the housing market. CNBC reports that during Spring of this year, sales of homes dropped from an estimated 4 million properties sold between March and May and has shot back up to nearly 7 million homes finding buyers at the end of the year. The problem is, you can't count on today's gains as an investor, as things can quickly turn for the worst at any moment. However, there are a few trends worth watching to help you strategize a way to protect best and maximize the return from your investment.  Mortgages ar ..read more
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UNDERSTANDING HOMESTEAD EXEMPTIONS AND THE APPEAL PROCESS
Homestead Title
by Becky Rolland
2y ago
In Louisiana, we have Homestead Exemptions, a tax exemption on the first $75,000 of a person’s home value. This exemption applies to all homeowners. The value of your home is exempt up to $75,000 from state and parish property taxes. Here are some frequently asked questions: When Should I File A Homestead Exemption Application?  To qualify for homestead exemption, one must own and occupy the house as their primary residence. Regardless of how many homes are owned, no one is entitled to more than one homestead exemption, a maximum of $7,500 of assessed value. If you change primary re ..read more
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Yes, An Owner's Title Policy is the Best Way to Protect Your Home!
Homestead Title
by Becky Rolland
2y ago
Though your first reflex may be to brush off buying an owner's title policy as you navigate your new home purchase, you should reconsider. Yes, you have your money and time tied up in so many other things that come with buying a house, but title insurance can protect all of the money you've put into the investment.  "I don't want to spend extra on title insurance. What's the Big Deal?" The big deal is that you may not know how title insurance works in the first place and may severely miss out on its benefits. Your mortgage lender's title insurance does not cover you. Also, title insuranc ..read more
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Investing in Distressed Communities Through Louisiana's Opportunity Zones
Homestead Title
by Becky Rolland
2y ago
Established by Congress in the Tax Cuts and Jobs Act of 2017, Opportunity Zones are a community development program. This new federal capital gains tax incentive program is designed to drive long-term investments to low-income communities. The new law provides a federal tax incentive for investors to re-invest their capital gains into Opportunity Funds, which are specialized vehicles dedicated to investing in designated low-income areas. Eligible taxpayers who invest capital gains into a Qualified Opportunity Fund (QOF) can defer paying federal capital gains tax until the QOF is sold or excha ..read more
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Understanding Louisiana Property Tax and Tax Credits
Homestead Title
by Becky Rolland
2y ago
Paying your property tax can become so routine that you pay it without questioning it. However, it is important to know how your property taxes are calculated.    Property tax is calculated by taking the mill levy for the property and multiplying it by the property's assessed value. A mill levy (or millage rate) is determined in "mills" (one-tenth of a cent) and is the tax rate for your property. You can find the mill rate for your property on your tax bill or by contacting the local assessor's office. A mill levy = one dollar per $1,000 of the assessed property value, so a state sc ..read more
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Check Your Roof Before You Buy - Your Homeowners' Insurance Policy May Limit Coverage
Homestead Title
by Becky Rolland
2y ago
Homeowners' insurance policies are becoming more restrictive with roof coverage to limit the number of claims. Several insurance carriers refuse to renew existing homeowner's insurance policies on a residence with a roof 20 years or older. The house did not pass the insurance company's inspection, and the carrier required replacing the roof before renewing the homeowner's insurance policy. As of 2020, most insurance companies require all shingle roof systems over seven years of age to be replaced with new ones. The reasoning behind this new scrutiny is that insurance companies believe there c ..read more
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Buying a Condo? – A Few Things You Should Know About Title Insurance
Homestead Title
by Becky Rolland
2y ago
Title errors can turn your condominium purchase dream into a nightmare. The average buyer sees Title Insurance as an add-on, but it's a crucial investment. For the cost of title insurance, you can virtually eliminate any risk (and cost of that risk) of losing an investment due to a standard title error.   1. Title insurance guarantees the property is free of liens and clouds against the title. The previous owner may have had a lien or judgment filed against them for unpaid taxes, work done by a contractor, or condo fees. You might lose the condo and have to pay back the mortgag ..read more
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