Wolfteam DE Resurrection » For those of us with bountiful winter snowfalls

What's a Point?
A point Cheap Darren Helm Jersey , or discount point, equals one percent of a loan amount. For instance, one a mortgage loan of $200,000, one point would equal $2,000.


Why Do People Pay for Points?
Some home buyers pay points to their lender at closing in order to lower their interest rate over the life of a loan. Paying a point on a standard 30-year loan will typically lower the interest rate by .125 percent.


Should I Pay for Points?
Buying points can lower the interest rate of a mortgage loan Cheap Luke Glendening Jersey , but that doesn't automatically make it a good option for every situation. For instance, if you only plan to stay in the home for a couple of years, paying for points probably won't help you.


On the other hand, if you plan to stay in the home (and keep the mortgage) for a long time, paying points could very well save you money.


To find out whether or not points will benefit you, you need to calculate your "break even" point. In other words Cheap Henrik Zetterberg Jersey , you need to run the numbers to see how many months you'll have to stay in the home to make points a wise investment.


To calculate your "break even" point:


1. Figure out what your monthly payment would be without buying points.


2. Figure out what your monthly payment would be if you did buy a point (or points).


3. Subtract the lower payment from the higher to determine your monthly savings.


4. Divide the amount charged for points at closing by the amount you save each month. The number you end up with equals the number of months you must stay in the home (and keep the mortgage) to reach your "break even" point.


Example calculation:


Let's run the numbers for a $200,000 loan for 30 years at a fixed rate.


1. 7% interest rate with no points = $1,330.60 monthly payment


2. Buying 1 point for $2,000 = $1,313.86 monthly payment


3. Monthly savings after the point: $16.74


4. $2,000 $16.74 = 119 months


In this example Cheap Anthony Mantha Jersey , the "break even" point is 119 months, or about 10 years. You would have to stay in the house for 10 years to recoup the cost of the point you paid at closing. If you plan to stay in this house for only three or four years, paying for points would be a bad investment.


Conclusion
A point equals one percent of your loan amount. You can pay points to your lender at closing to lower your interest rate. Paying points may be a wise option if you plan on living in the home for more than a few years. You should always run the numbers to determine whether or not points are a good investment for you.


* Copyright 2006, Brandon Cornett. You may republish this article in its entirety, provided you leave the byline, author's note and website hyperlink intact.


Spring Home Projects in Northern New England Home Repair Articles | March 22 Cheap Jimmy Howard Jersey , 2005

As I sit on a plane in route from Chicago to Boston this evening, I realize I have been staring out into the dark abyss contemplating the arrival of spring. Spring is a time of anticipation and renewed life. A time when the snow finally abates and the Robins return to rebuild their nests. And a time when Tulips and Daffodils emerge from the ground and bloom, if ever so briefly. It is also a time for the voracious Black Fly that we northern dwellers know only too well. For me, however, it is a time to shift into a higher gear; there are outdoor projects that have accumulated over the winter months and there is traditional spring tasks that every homeowner is compelled to do.



There are two main questions I debate as I compile my spring ?To-Do? list: What to do and when to do it?


As always with a non-vinyl sided house, there is painting. Over the years Cheap Justin Abdelkader Jersey , I have come to the conclusion it is best to paint a portion of the house each year; one year the clapboards, another year the trim, and maybe in the third year the shutters. I am sure the professional painter would beg to differ with my advice, but hey, not all of us can justify the professional painter every 3-5 years, nor can we dedicate an entire week or two of our spring painting the whole house. I have found it best to do the spring painting as soon as the whether gets above 50 degrees. Any sooner Cheap Dylan Larkin Jersey , it is too cold for the paint. Any later, and one has to contend with the other flying insect, the hornet.


Another important job, but not so large in effort, is preparing the lawn for the spring rains. First there is the raking. Then there is the application of the first stage of the four-stage fertilizer process, you know Cheap Frans Nielsen Jersey , the one that halts the Crab grass in July and August. Usually every other year there is the additional task of spreading the pest control to prevent grubs and moles. Based on product recommendations and when I actually have time, I do these tasks in mid May.


For those of us with bountiful winter snowfalls, many of us have the unique task of fixing or replacing our mailboxes for hopefully the last time, or at least for the next 12 months. This is particularly an aggravating task as we spend much of the time doing it, cussing under our breath the snow plow operator that we know had pleasure wiping out our mailbox.


Then there is the garden. I am not sure why I still bother. Maybe it is due to a memory of my youth, when I spent two summers working on a farm. It may also be some innate desire to see something grow from nothing Cheap Mike Green Jersey , that I had a part in. I think it is the latter, but regardless, every April I go out and till, fertilizer and lime the soil, while I sacrifice my body to the Black flies. By May I begin to plant the Peas, Carrots and Onions. By June I plant the Tomatoes Cheap Gordie Howe Jersey , Peppers and Squash. And by July, I am at war with the local Wood Chuck.