By Liz Dominguez

The mortgage process can be complicated if you jump in without any prior knowledge on home-buying and lending. The best tool you can arm yourself with is an understanding of how your mortgage interest rate is calculated.

Credit can make or break you. 

Your credit score will determine how reliable you are in the lending world. The higher your score, the lower your interest rate will likely be. Check your credit on one of the three major credit reporting agency sites—TransUnion, Experian and Equifax—or your credit card company may have a free credit report service (although these aren't as reliable).  Improve your FICO score for a better chance at a lower interest rate.

Factor in size and location.

• State or County: Even your place of residence can affect your rate.
• Local Mortgage Lenders: Shop around. Interest rates can vary from company to company even if they're located in the same town.
• Loan Size: The size of your home can also impact your interest rate. The bigger the loan, the higher your interest rate will be if you're not putting more money down.
• Down Payment Size: Your mortgage interest rate may also depend on how much you're putting down and if your loan includes closing costs and private mortgage insurance (PMI). Putting down less than 20 percent can increase your risk factor and may require PMI, but your interest rate may be lower depending on the loan.

Not all loans are created equal.

Loan Length: Your loan terms play a bigger role in interest rate calculations than you think. Have you decided whether you want to pay off your loan in 15 or 30 years? You may pay more per month with a shorter term, but you'll be paying less interest over the life of your loan. Short-term loans may also have a smaller interest rate.

Fixed or Adjustable: You'll also have to consider whether a fixed- or adjustable-rate loan is right for you. Your interest rate can change over time if you choose an adjustable-rate loan. It may start off low or fixed, but can increase over time depending on market conditions. Fixed-rate loans, however, will have a higher interest rate attached to them.

Loan Type: Interest rates can also vary according to your loan type. Choosing a loan can be overwhelming, but a local lender should be able to provide you with the best options. Some of the more popular loans are conventional, FHA and VA loans. While FHA loans have less down payment restrictions and a smaller interest rate, your monthly payment can be more expensive due to the required PMI added on. VA loans can have smaller interest rates and don't require PMI like FHA does. Conventional loans are widely accepted in the real estate industry as dependable, but your interest rate may be higher.

Source: Consumer Financial Protection Bureau (CFPB)

Every homeowner wants a healthy home for his or her family and pets. Making the right choices in your house isn't always easy though. Keep reading to learn more about how you can create a healthy space and enjoy your home even more. These five tips should put you on the path.

Update Your Insulation

Individuals and families in older homes should consider the fact that they may have unhealthy types of insulation in the walls keeping them comfortable. If you're not sure about your insulation, have the pros check it out first.  In the case of asbestos or any other hazardous material, you don't want to be digging around in the walls on your own.

Asbestos and hazardous insulation remediation can be a big job, but for a homeowner, it should be a top priority in terms of a healthy home. Updating your insulation will also be a major plus when and if you go to sell your home.

Get a Mold Check

Most homeowners never think about mold until they get an inspection related to selling their home. For others, mold isn't even a consideration until damage to the home occurs and a mold issue more or less reveals itself. Getting a mold check for your home can help your family breathe easier in the house. While most recently built homes won't have mold, getting a check isn't going to hurt you.

Pick the Right Paint

According to the Environmental Protection Agency (EPA), paint, wood stain and other varieties of coatings account for about nine percent of volatile organic compounds (VOC) emissions in the country every year. For a healthy home, look for low-VOC paint. They are water-based, low or no odor and non-toxic. While it can be hard to identify low-VOC paint on store shelves, online searches and on-can labeling should make it easy to find this type of paint if you're looking for it.

Take Your Shoes Off

Taking your shoes off every single time you come in your home might be a hard habit to get into, but for many people, it can lead to a healthier home environment. Your home might also require a little less cleaning, which is an added benefit. If you have a mudroom or a large entryway, removing your shoes should be easy. Tracking less outside germs from your shoes into your home can also help keep pets and children with a tendency to spend time on the floor healthier all year round.

Add Plants to Your Décor

Fresh, live plants can beautify almost any space. Live plants do more than just make your home look a little bit nicer though. Spider plants, lilies and aloe vera can help get rid of formaldehyde in the air, and English ivy, asparagus ferns and bamboo plants can work to clean indoor air as well. Whatever plant you choose, make sure they're not toxic to your pets if they roam free around your home.

Making your home a healthier place isn't exactly as glamorous as buying new furniture or adding a room to your house. Don't take your home's health for granted and you won't have to worry as much about home-related hazards.

There are many questions homeowners ask themselves during the selling process. "How much will my home sell for?"  "How much should I list my home for?"  "Who should I select as a real estate agent to sell my home?"  "What if the real estate agent overprices my home?"  Last but not least, "Is this a good time to be selling a home?" is also a very common question that real estate agents are asked.

As with every decision in life, there are pros and cons, and choosing when to sell a home is no different. There are many factors that need to be taken into consideration before deciding when to sell a home. Many homeowners believe selling a home during the fall or winter months is not a good idea and that the spring is the only time a house should be sold. This is the furthest from the truth. Certainly most real estate markets across the United States experience a "spring market rush" every year. There is no doubt that the "spring market" is a great time to be selling and buying real estate, however, the fall and winter seasons may be the best fit for you for many reasons.

Here are several reasons why choosing to sell your home now may be a better decision than waiting until the spring:

Less Competition
One way that you can tell the spring real estate market has arrived is by driving down a street in your local community. In all likelihood there will be For Sale signs up all over the neighborhood! One great reason to sell your home now and not wait until the spring market is there is sure to be less competition.  The fewer number of comparable homes for sale, the greater the probability that a buyer will look at your home.

Simply put, it’s the supply and demand theory. If there are less homes for sale, there are less homes that a potential buyer can choose from, therefore increasing the demand for your home. Not only will less competition increase the probability for showings, but it will also increase the probability that an offer will be received and you will get the maximum amount of money for your home.

Serious Buyers Are Out There
Homes are sold and bought 365 days a year, period!  Many homeowners believe that buyers aren't out there during the fall and winter months. This simply is not the case. Serious buyers are always out there!  Some buyers may stop their home search because it is the fall or winter, but serious buyers will continue to look at homes, no matter what time of year it is.

The fall and winter months are also a great time for a potential buyer to see what a specific neighborhood is like.  Do your neighbors have pumpkins on their front step?  Are there lots of Trick-or-Treaters wandering the neighborhood on Halloween?  Do any of your neighbors have any light displays for the holidays?  There are buyers out there who will look at these types of things when determining whether your home is in the right neighborhood for them or not.

The Best Agents Are Always Up To The Challenge
Any real estate agent who tells you that the fall or winter months are a bad time to sell is not someone you want selling your home! A great real estate agent will know how to adapt to the current season and market their listings to reflect that.  A great real estate agent can make suggestions and give some of their tips on how to sell a home during the fall or winter seasons. If a real estate agent doesn't have any suggestions on making your home more desirable for the current season, you should be concerned about the creativity they are going to use when marketing your home.

Staging For The Holiday Season
Many sellers believe staging a home is the main reason a home sells.  While staging certainly helps sell homes, some buyers have a difficult time envisioning themselves in a home no matter what you do. However, there are some buyers who can easily be "sold" on a home because it is staged.  Simple “seasonal” staging such as adjusting the color of the decor or having an aroma in the air that is relative to the time of year can go a long way with some potential buyers and possibly be the difference between a home selling or not.

Mortgage Rates Are Low
If you've read about real estate in the past year, it's likely you've read that the mortgage rates are very low.  You also probably read that there is an expectation that the rates will increase very soon. Since mortgage rates are so low right now, buyers are able to afford more expensive homes.  If mortgage rates increase over the fall and winter months while you're waiting for the spring market, it could cost you thousands of dollars as it could eliminate many buyers from the real estate marketplace!  Less demand for your home will mean less money. Bottom line: take advantage of selling your home while the rates are this low.

Quicker Transactions
Right now, there are fewer real estate transactions than there will be in the spring.  The fewer number of transactions means the mortgage lenders have less loans to process, attorneys have less closings to do, and home inspectors have fewer inspections to do.  All of these factors should lead to a quicker transaction and closing for all the parties involved.  One of the most frustrating things for a seller to deal with while selling their home is not getting answers in a reasonable amount of time. A quicker transaction is going to be less stress for you.

By considering all of the reasons above, you will be able to determine whether now is a good time to sell or if you should wait until the spring.

Kyle Hiscock is a top producing Webster, N.Y. real estate agent with Nothnagle Realtors, based out of Rochester, N.Y. He has helped hundreds of buyers and sellers move in and out of the Greater Rochester, N.Y. area. In addition to his vast real estate knowledge, Kyle is very active on many different social media websites. Connect with Kyle on Google+.    

By Cary Teller

There is something awesome about buying a fixer upper and doing the renovations yourself. Some people fix them up a bit at a time, using cash as they have it available. If you want to make a big impact by doing small things, here are 10 things you need to include.

1. Change Out the Lighting

Nothing says outdated like an old-fashioned gold chandelier. Lighting is something that can be updated easily and won’t cost a bunch of money. It is one of the smallest things you can do that will have the biggest impact.

2. Paint

There is an old saying that states “if a barn needs to be painted, slap some paint on it.” You will be amazed at what some paint can do to your home. A new hue can cover imperfections and give the room the blast of color it needs. Forget drab, white walls that are lackluster. Give your home a color makeover.

3. New Fixtures

Just like the lighting, the fixtures in the home become outdated quickly. Start with the kitchen faucet and then move on to the bathroom. You can update and upgrade a fixer upper by just adding these small touches.

4. Paint Cabinets/Add New Hardware

If you have new cabinets in the budget, then you should go for it. However, if your budget is limited, then you may want to try to paint them. Painting old cabinets and installing new hardware will give the kitchen a facelift. If the cabinets are old but sturdy, then you can bring them back to life. Painting is inexpensive and has a huge impact.

5. Rip Out Old Carpeting

Carpet is great when it is new; however, when it is old and dingy, it can really have a negative impact on a space. Hardwoods are the best option, followed by laminate floors. However, if you are stretched for money, you may try a bag floor or a penny style one. There are creative options online that allow you to do great things with your floors for less.

6. Add Curb Appeal

The curb appeal of the home is everything. It does not matter how great the inside looks if the outside is in shambles. Clean up any dead plants and add some new. Be sure to pick flowers and shrubs that bloom at different times. This will allow you to have color year-round. Add some shutters and a fresh coat of paint to the porch. Use decorative numbers to display the address. Finally, replace the mailbox if necessary.

7. Repaint Ceilings

Ceilings are often overlooked. They are usually white and the color is reserved for the walls. However, people do not realize how dirty these ceilings can be. A fresh coat of paint on the ceiling can really enhance the whole room. The walls are not the only thing that needs to be painted.

8. Upgrade the Exterior Façade

The biggest impact you can have on the outside of a home is to replace or paint siding. If you have it in the budget, you can add brick and stone accents. Most fixer upper homes have chipping paint and worn out siding. Splurge for some nice siding or paint a great color to update the home’s look.

9. Replace the Windows

New windows are expensive, but they are important. If you have old windows in your home, you need to spend the money to upgrade them. Windows are great for keeping the elements at bay. You will save yourself money in the long run by sealing off old-drafty openings.

10. Update the Heating and Cooling Unit

To help the process of heating and cooling a home, you need to make sure the home has an updated HVAC unit. The air filters are just as important as the unit. Filters with a rating of Merv 11, have "astro pleating" to help ensure no dirt or dust gets into your system. Extend the livelihood of your unit by selecting quality air filters.

By Dixie Somers

Being a first time homebuyer can be an intimidating prospect; it seems like there's so much to learn! The process doesn't get less challenging the second or third time around, but here are five tips to help you research and prepare for your next home buying experience.

Location, Location, Location

It's a cliché but it's true: location really is the most important part of the real estate equation. However, the right location isn't the same for everyone. Take your family's priorities into account and know where you would buy a home, and where you would not. Try to be flexible, but if you're longing for a place with a yard, then a balcony might not cut it, however a roof deck might! Always look for the exception to the rule. It's also a good idea to compare home prices around the home that you're considering. This will help you figure out if your house is a good deal and in line with the market expectations.

Find Your Financing

Finding the perfect house can take years, but once you find it things will move quickly. Most real estate markets are fast moving and a great house at a great price can easily go on the market in the morning and be under contract by the evening. When you find that house you have to be ready to jump on it. This means that you should have your financing figured out before you make an offer. Ask friends, family, any law or finance professionals your family uses, or ask your REALTOR® for a recommendation for a mortgage company. Be sure to get quotes from several different firms so you have a general idea of what your rates really should be.

Understand the Vocabulary

You should take the trouble to educate yourself about some of the jargon that comes with the real estate territory, otherwise, you might find yourself completely out of your league when discussing purchasing terms.

Check out the Neighborhood

If you're looking for homes outside of the neighborhood you live in, the best way to get a feel for it is to go and spend the day there. Find a few open houses you're interested in and go make a day of it. Have lunch, stroll the streets, check out the parks, schools, and find out what kind of people live there. These are the things that give a neighborhood its flavor, and things that you can't know until you go there and see for yourself.

Choose a Trustworthy Agent

A real estate agent can make or break your home buying experience. If you don't have an agent you already know and like, ask for recommendations, check local ratings sites and ask around. This can be a very personal relationship, so if you find an agent you believe in, hang on to them!

Buying a home is an exciting and stressful process, but with these tips, we hope you'll have a great experience researching, shopping and purchasing your next home.

Every homeowner wants a healthy home for his or her family and pets. Making the right choices in your house isn't always easy though. Keep reading to learn more about how you can create a healthy space and enjoy your home even more. These five tips should put you on the path.

Update Your Insulation

Individuals and families in older homes should consider the fact that they may have unhealthy types of insulation in the walls keeping them comfortable. If you're not sure about your insulation, have the pros check it out first. In the case of asbestos or any other hazardous material, you don't want to be digging around in the walls on your own.

Asbestos and hazardous insulation remediation can be a big job, but for a homeowner, it should be a top priority in terms of a healthy home. Updating your insulation will also be a major plus when and if you go to sell your home.

Get a Mold Check

Most homeowners never think about mold until they get an inspection related to selling their home. For others, mold isn't even a consideration until damage to the home occurs and a mold issue more or less reveals itself. Getting a mold check for your home can help your family breathe easier in the house. While most recently built homes won't have mold, getting a check isn't going to hurt you.

Pick the Right Paint

According to the Environmental Protection Agency (EPA), paint, wood stain and other varieties of coatings account for about nine percent of volatile organic compounds (VOC) emissions in the country every year. For a healthy home, look for low-VOC paint. They are water-based, low or no odor and non-toxic. While it can be hard to identify low-VOC paint on store shelves, online searches and on-can labeling should make it easy to find this type of paint if you're looking for it.

Take Your Shoes Off

Taking your shoes off every single time you come in your home might be a hard habit to get into, but for many people, it can lead to a healthier home environment. Your home might also require a little less cleaning, which is an added benefit. If you have a mudroom or a large entryway, removing your shoes should be easy. Tracking less outside germs from your shoes into your home can also help keep pets and children with a tendency to spend time on the floor healthier all year round.

Add Plants to Your Décor

Fresh, live plants can beautify almost any space. Live plants do more than just make your home look a little bit nicer though. Spider plants, lilies and aloe vera can help get rid of formaldehyde in the air, and English ivy, asparagus ferns and bamboo plants can work to clean indoor air as well. Whatever plant you choose, make sure they're not toxic to your pets if they roam free around your home.

Making your home a healthier place isn't exactly as glamorous as buying new furniture or adding a room to your house. Don't take your home's health for granted and you won't have to worry as much about home-related hazards.