There are many moving parts when it comes to buying or selling a home, and active duty personnel have additional factors to consider. You might believe you can’t become a homeowner until you’ve left the military, but you can begin to build wealth while serving. Likewise, you may think your job will make selling your home a huge hassle. Neither of these need to be the case for you and your family. Read these tips for buying and selling a home in the military.
If you’ve determined buying will benefit you more than renting and your orders are in place, start researching your home financing options. In preparation for applying for loans, you should be actively trying to improve your credit score. Though there are several government-backed loans with flexible credit requirements, you should put yourself in the best financial position possible during the loan process.
One of the first questions you’ll be asking yourself is how you’ll pay for your future home. The VA loan is an excellent way for veterans and active duty military members to become homeowners, since there’s no down payment and credit requirements are more lenient. If you chose to apply for a VA loan, make sure you have enough saved for closing costs. Though this loan program is especially for service members, it’s wise to look into other programs to find the one that’s best for your needs.
Now that you have a plan for financing the home purchase, the next logical question is how you will pay the mortgage. As a military member, you can apply for a Basic Allowance for Housing (BAH). BAH is available for service members who don’t live in government housing, and it can be put towards your mortgage payments. The amount of BAH you’re eligible to receive is dependent on local housing costs, your rank, and whether you have dependents.
At this point, it will be important to find a reliable real estate agent and lender to help you with your home purchase. Your lender should have experience working with military borrowers, so they can understand your needs and ensure all loan requirements are met. You’ll need to show your lender your Certificate of Eligibility (COE) when applying for a VA loan and Leave and Earnings Statement (LES) if you intend to use your BAH to pay your mortgage. It’s always a good idea to borrow less than what you’re qualified for to leave breathing room in your finances.
When selling your home, get started on the process as soon as you get your orders to move. Since your move will be on a deadline, everything will likely be at a faster pace than a civilian relocation. A good first step is to find a trustworthy real estate agent to help you with the sale. If the agent has strong experience working with military families, even better. During this time, do the prep work needed to make your home sellable including deep cleaning, decluttering, yard work, and repairs. You can even start packing some of your things for when the house sells. Once preliminary work is done, stage your home to make it appealing to buyers. After the home has sold, you can start increasing your moving efforts.
As an active duty service member, the military provides certain moving services to you to facilitate everything. Depending on the nature of your move, you may be able to transport your belongings using a Personally Procured Move (PPM) or Household Goods Move (HHG). Keep in mind your rank, length of assignment, and new station location will affect how much of your belongings you can take and whether your family can come or not. Always refer to your orders for specific information and use your local personal property office as a resource for your move. If you need to relocate but don’t want to sell your home, consider renting your property while you’re away. If your home’s location is in a lucrative area for rentals, you could rent it out to pay the mortgage. While this option may not be feasible for everyone, it could pay off for some people.
Your military career and lifestyle don’t have to prevent you from becoming a homeowner and building wealth. You can sell your home and relocate without feeling lost—there are many resources to make things easier for you. When you know what to expect when homebuying or selling while in the military, you can navigate the process with fewer hiccups.
If you’re interested in how to become a homeowner while you complete your service, contact one of our Licensed Mortgage Loan Originators. If you are ready to begin the process, click here to get started!
LINTHICUM, MD, May 29, 2020 — NFM TV announced today that a video program it produced entitled “NFM Salute: Sgt. Eric Houck” has been named Best in Non-Broadcast in the 41st Annual Telly Awards.
The Telly Awards is the premier award honoring video and television across all screens. Established in 1979, The Telly Awards receives over 12,000 entries from all 50 states and 5 continents. Entrants are judged by The Telly Awards Judging Council—an industry body of over 200 leading experts including advertising agencies, production companies, and major television networks, reflective of the multiscreen industry.
“When I started NFM TV a few years ago, winning awards wasn’t my goal,” said NFM TV Creator and Host, Greg Sher. “I wanted to tell great stories, not only about things happening in the mortgage industry, but across the country. It was an honor to tell the story of Eric Houck’s sacrifice, along with that of his family. We continue to create great content and share important stories that we’re proud of, so I feel like this is just the beginning.”
Sabrina Dridje, Managing Director of the Telly Awards said, “Our theme for this season, Telly Award Winners Tell Great Stories is a true reflection of the diversity of stories the community is skillfully able to tell. Now, more than ever, we need to celebrate them and those that bring global stories to our attention. This award is a tribute to the talent and vision of these creators.”
NFM TV consists of Creator/Host Greg Sher, Executive Producer Gene DiPaula, Producer/Editor Nayoung Kim, and Marketing/PR Coordinator Kelsey Trumbull.
The full list of the 41st Annual Telly Awards winners can be found at www.tellyawards.com/winners.
NFM TV is a subsidiary of NFM Lending, an award-winning, multi-state residential mortgage lender currently licensed in 41 states. The mission of NFM TV is to provide “mortgage industry-related news and content that hits home” with insight and analysis through the use of audio and video production. NFM TV interviews some of the top thought leaders in home lending, including top branch managers, loan originators, real estate agents, and others in the mortgage industry examining the latest trends and giving helpful tips. NFM Lending was founded in Baltimore, Maryland in 1998. NFM Lending and its family of companies includes Main Street Home Loans, BluPrint Home Loans, and Freedmont Mortgage Group. For more information about NFM TV, visit nfmtv.com and like our Facebook page.
LINTHICUM, MD, May 8, 2020— NFM Lending is proud to be the returning Presenting Sponsor for the fifth annual Below the Belt – Stride and Thrive 5k and 1-mile run/walk on June 7, 2020. This virtual event will benefit the Kelly Gynecologic Oncology Service (KGOS) in the Johns Hopkins Department of Gynecology & Obstetrics. This will be NFM Lending’s fifth year sponsoring the event.
To promote the safety of the community while still celebrating gynecologic cancer survivors, the Stride and Thrive event will be held virtually. Participants will be able to complete a 5k and can submit their results via the runsignup.com results page. The event is run by an all-volunteer staff, and all proceeds will support life-saving gynecologic cancer research, cancer survivors, and women undergoing cancer treatment. According to their website, “Every 5 minutes, a woman in the U.S. is diagnosed with a ‘below the belt’ gynecologic cancer. These cancers affect more than 100,000 women and cause over 30,000 deaths each year.”
“Obviously, we would love for this event to be live,” said David Silverman, Founder/CEO of NFM Lending, “but it doesn’t change our commitment and love for this cause. NFM is once again honored to be associated with such an amazing event. Despite being held virtually, I am hopeful the impact will be as good or better than years past.”
Mary Levinson, NFM Lending Branch Manager in Linthicum, MD coordinated the company’s involvement in the event.
“It’s an honor for NFM Lending to be the ‘Presenting Sponsor’ once again for the Johns Hopkins Gynecologic Oncology Stride and Thrive event,” said Levinson. “This year we are going virtual, which means we can all participate in this incredible event. The Johns Hopkins Gynecologic Oncology Service is a world leader in surgery and oncology care for women diagnosed with gynecologic cancer. Even during these challenging times, we are so proud to continue to support this mission and the people associated with it. I am so inspired by the patients, their families, the doctors, nurses, volunteers, and the participants that make this event so special.”
NFM Lending looks forward to being part of such an important and impactful mission.
NFM Lending is a mortgage lending company currently licensed in 41 states in the U.S. The company was founded in Baltimore, Maryland in 1998. NFM Lending and its family of companies includes Main Street Home Loans, Bluprint Home Loans, and Freedmont Mortgage Group. They attribute their success in the mortgage industry to their steadfast commitment to customers and the community. NFM Lending has firmly planted itself in the home loan marketplace as “America’s Common Sense Residential Mortgage Lender.™” For more information about NFM Lending, visit www.nfmlending.com, like our Facebook page, or follow us on Instagram.
LINTHICUM, MD, May 2, 2020 — NFM Lending and its family of companies, including Main Street Home Loans, is proud to announce three of its loan originators, Jane Floyd, Jessica Uphoff, and Karen Dulmage, have been ranked on the Scotsman Guide Top Women Originators 2019 list.
This is the second year the Scotsman Guide has recognized the nation’s top producing women mortgage loan originators. Out of the thousands of submissions for the magazine’s annual Top Originators rankings, about 600 women made this list. The overall ranking was based on Total Dollar Volume for 2019.
Floyd, out of Tampa, FL, ranked #77 with over $103 million in loan volume and 362 closed loans. Uphoff, out of Westminster, CO, ranked #79. She did over $102 million in volume and closed 232 loans. Dulmage, out of Pinehurst, NC, ranked #378 with nearly $52 million in volume and 175 closed loans.
“NFM is extremely fortunate to have such talented top originators,” said Jan Ozga, President of NFM Lending, “and these three women are among our very best. They not only lead our industry in terms of units and volume, but they also continue to share their career mortgage experience with us all as we navigate these challenging times. It’s an honor and a privilege to work alongside them and this recognition is well deserved.”
NFM Lending is proud of these loan originators’ achievements and wishes them continued success.
Jane Floyd, NMLS #327235 – Branch Manager, NFM Lending
Jessica Uphoff, NMLS #174999 – Branch Manager, NFM Lending
Karen Dulmage, NMLS #485100 – Area Manager/Vice President, Main Street Home Loans
NFM Lending is a mortgage lending company currently licensed in 41 states in the U.S. The company was founded in Baltimore, Maryland in 1998. NFM Lending and its family of companies includes Main Street Home Loans, Bluprint Home Loans, and Freedmont Mortgage Group. They attribute their success in the mortgage industry to their steadfast commitment to customers and the community. NFM Lending has firmly planted itself in the home loan marketplace as “America’s Common Sense Residential Mortgage Lender.™” For more information about NFM Lending, visit www.nfmlending.com, like our Facebook page, or follow us on Instagram.
LINTHICUM, MD, May 1, 2020— NFM Lending is pleased to honor Aviation Metalsmith, 2nd Class “Grandpa” Bill Kelly as the NFM Salute for May 2020.
Kelly was born in 1925 in Aurora, Illinois during the Great Depression. As one of seven children, he said growing up he never realized they were poor. His family had a large garden and he recalls fond memories of rabbit hunting and fishing in the Fox River with his father. Toward the end of the Depression, Kelly vowed to serve his country after the horrific events of Pearl Harbor. At 17 years old and a senior in high school, his father encouraged him to graduate before enlisting. Keeping his word, he graduated before joining the Navy in July 1943.
Kelly was assigned to the 53rd Naval Construction Battalion attached to the Third Marine Division. He was deployed to several places, including: New Caledonia, Guadalcanal, Bougainville, and Guam. His battalion took care of wounded, unloaded ships, removed unexploded ammunition and created roads for transportation so troops could get to the frontlines.
After his service, Kelly attended Oregon State and Linn Benton Community College, where he earned an associate’s degree in Fire Science. He then joined the Corvallis Volunteer Fire Department and was later hired by the local Fire Department, where he worked his way up to Captain of Suppression and Fire Prevention. He later became the Assistant Chief Fire Marshall at the Oak Lodge Fire District, where he eventually retired.
Now at 95 years old, Kelly has overcome yet another incredible challenge. On March 17, he tested positive for the novel Coronavirus, Covid-19. Living with his family, including two young great grandchildren, Kelly had to remain quarantined to his room for two weeks. His granddaughter, Rose Etherington, was able to care for him. “There were a couple of days where he looked extremely ashen and I could tell he was slipping. He didn’t want to eat, so we had to really stay on top of him to eat and drink. I think he pulled through because he has a strong mind. He knew it wasn’t time. He wanted to be with the kids more.”
To everyone going through this difficult time, Kelly does have some advice.
“This too will pass, and maybe we’ll be better off. Do what you’re supposed to do. Just be a good, solid American. There’s a saying that I remember a friend used to say all the time: Fighters never quit, and quitters never fight. Just carry on.”
NFM Salute is an initiative in which one military member or Veteran is chosen each month to be honored as the “Salute of the Month.” Salutes are chosen from nominations on the NFM Salute website, www.nfmsalute.com. The “Salute of the Month” will be featured on the website with a biography and information about his or her service, and NFM Lending will donate to a military or Veteran non-profit in the Salute’s name.
NFM Lending is proud to donate $2,500 to The Gary Sinise Foundation on behalf of Kelly and his family. NFM looks forward to the opportunity to continue to honor military and Veterans through the NFM Salute initiative.
NFM Lending is a mortgage lending company currently licensed in 41 states in the U.S. The company was founded in Baltimore, Maryland in 1998. NFM Lending and its family of companies includes Main Street Home Loans, Bluprint Home Loans, and Freedmont Mortgage Group. They attribute their success in the mortgage industry to their steadfast commitment to customers and the community. NFM Lending has firmly planted itself in the home loan marketplace as “America’s Common Sense Residential Mortgage Lender.™” For more information about NFM Lending, visit www.nfmlending.com, like our Facebook page, or follow us on Instagram.
Do you know when you should replace your roof? If your answer was, “when it starts to rain inside”, that’s far too late. Your roof is one of the most important elements to your home’s comfort and structural integrity, so don’t wait until you have to put buckets around the house to get your roof fixed. Here are some signs you should recognize that let you know it’s time to replace your roof.
The age of your roof is one factor that will impact when you should replace it. If you have asphalt shingles, they can last 15-20 years. Roofing made from sturdier material, such as slate or metal, can last even longer. For homeowners with asphalt roofs, it is a good idea to replace it after 20 years.
The collective wear and tear on your roof is extremely important to look for when surveying the condition of your roof. The overall health of the shingles is often a good indicator of your roof’s health. Check to see if your shingles are curled at the edges or appear to be bubbling. Wherever you see shingles that aren’t laying flat, it’s a strong indication that the shingle is damaged and not effectively repelling the elements. Be on the lookout for shingles that are balding or completely missing. While it’s normal for shingles to lose some of their grittiness over time, what isn’t normal is for your shingles to shed en masse. If your house has a chimney, you should inspect the flashing around it to see that it’s not damaged. Flashing is a barrier that seals the space where the chimney joins to the roof, and if this area isn’t intact, your house will be more susceptible to leaks. Of course, if your roof appears to sag, the structure is no longer properly supported and needs to be replaced.
Perhaps the most severe signs can be seen from inside the house, which means you should replace your roof as soon as possible. Inspect your attic during the daytime to see if sunlight shines through the ceiling. If you see light coming through, it’s evident you need to replace your roof. Look at your ceiling and the top of your walls—if you see mold or signs of water damage, you have leaks in the roof which requires an entire overhaul. In instances where you see fungal growth, it’s highly recommended that you call mold specialists to remove it.
Depending on the nature and severity of these roofing issues, you may be able to just repair the affected shingles rather than replacing everything. A reliable and certified roofing contractor should be able to tell you if patching will suffice. The best ways to keep your roof in good condition are to get a reliable contractor to install it and actively make smaller repairs to extend its lifespan. Maintaining the upkeep on your home will be important in building home equity. Replacing your roof is not a job that should be put aside; taking care of your roof is essential for taking care of your entire house.
If you have any questions about how to maintain your home, contact one of our licensed Mortgage Loan Originators. If you are ready to begin the home buying or selling process, click here to get started!
COVID-19 has shaken up most people’s lives and plans in a way many have never experienced before. If you were planning on selling, buying, or refinancing a home before COVID-19, you don’t need to put off your plans. NFM Lending is continuously adapting to market and industry changes to best serve you and your family. Read on to find out how NFM Lending can serve clients virtually.
NFM Lending’s ongoing initiative to reduce paper usage has moved us toward a virtual experience, for those who want one, even prior to the pandemic. Almost every step of the mortgage application process can be done electronically, making the process more efficient for everyone involved. Loan applications can be completed online, as can the list of documents needed to move the loan forward. All documents can also be submitted safely through our Secure Document Upload (SDU) at your convenience using the device of your choice. For forms that require a signature, you have the option to review and sign them electronically. Though final closing documents need to be signed in front of a notary, we will let you know prior to closing so you can make arrangements with a notary and your title company.
Regardless of environmental conditions, going through the mortgage or refinance process can be a daunting experience if you’re not fully informed. We have the ability to provide real-time electronic updates so you’re never in the dark about your loan. If you ever have questions about what’s going on, our loan originators and operations professionals are dedicated to answering questions and guiding you through the process. Whether you need a phone call, email, a quick text, or even a video call, NFM is here for you. Our staff is working remotely during this time, but still fully available to assist. We remain committed to ensuring you have an experience that’s as smooth as possible.
Even though there have been changes to the way we all normally do things, our mission to provide excellent service remains the same. The processes to purchase, sell, and refinance a home now may be a bit different, but they are still very doable. The technology available today will help minimize the challenges we’re facing during this pandemic. Together we will improvise, adapt, and overcome.
The federal government recently passed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to assist Americans during the COVID-19 pandemic. The new law includes provisions for homeowners, one of which requires loan servicers to offer mortgage forbearance. There are several misconceptions about this relief service. If you’re considering this option for yourself and your family, this is what you need to know about mortgage forbearance.
First and foremost, mortgage forbearance is NOT mortgage forgiveness. Forbearance means that your loan payments will be deferred for a certain period of time, after which you will be responsible for those payments. According to the CARES Act, your loan will accrue interest during forbearance, but it will not be subject to additional interest or fees. Some loan servicers may request multiple months’ worth of payments at the end of forbearance, so you need to contact your lender to understand their repayment terms. The CARES Act stipulates an initial forbearance period for federally backed loans of 180 days, with an extension of 180 days if requested by the borrower. Forbearance is essentially a grace period where your payments will not be due monthly in order to provide immediate relief.
The government’s forbearance program covers mortgages backed by federally sponsored agencies: Fannie Mae and Freddie Mac. Your loan servicer may have their own forbearance options if you did not get your mortgage through a federal program. If you’re interested in mortgage forbearance, you need to contact your loan servicer to see if you qualify and what their terms of repayment are. Call the number located on your monthly mortgage statements to reach your servicer.
As mentioned in the CARES Act, your credit score should not be affected during forbearance, nor will you be charged any late fees. However, there is uncertainty around this topic and we’ll update this page as we get more information. One thing to be aware of is that your account will maintain the status it was in when it went into forbearance (i.e. current, delinquent, etc.) while in forbearance. If possible, be sure your account is current before going into forbearance. If you anticipate you will need more time in forbearance, reach out to your loan servicer before your initial term ends to ask what options are available. Understand that if you’re still able to make monthly mortgage payments, you should continue to make them.
This is a very uncertain and even stressful time for many homeowners, therefore it’s even more important to do your research before you sign up for any relief program. Make sure you have a thorough understanding of your loan servicer’s conditions so you won’t encounter any unpleasant surprises down the road.
If you decide forbearance isn’t for you, explore the idea of refinancing.
Did you know that April is National Lawn and Garden Month? If you don’t have a garden, now is the perfect time to cultivate one! Tending to plants is a wonderful way to get involved with nature and beautify your home. Additionally, scientific studies show that gardening can reduce stress, so it’s beneficial in many ways. Even if you’ve never put a shovel in soil, it’s easy to get started! We’re eager to help you make your yard the envy of all your neighbors with these gardening tips for beginners.
To get started, the first thing you’ll need to decide is where to plant your greenery. Get creative with the location and layout of your plot; you don’t have to be constrained to a 4’x4’ area if you aren’t feeling it. Popular locations to consider are around your mailbox, the front yard, under a tree, the backyard, or along the side of your house. The place you choose to establish your flower bed will help guide you when picking out what plants to grow.
Once you’ve picked a spot, research what plants will thrive in those conditions. For instance, don’t plant a shade-loving plant in an exposed area or a plant that favors shade in an exposed area. Try incorporating native species into your plot so you can positively contribute to the local ecology. Native plants are also more likely to take to your environmental conditions, meaning that they can be hardier growers. Have fun picking out what colors and heights you want to include in your garden; this is the perfect opportunity to showcase your personal aesthetic!
In a few weeks, your hard work will be rewarded with a beautiful garden and many compliments! Planting a garden adds natural, seasonal beauty to your yard, thus giving your home curb appeal. Even if you’re not selling your home, a garden is a great thing to maintain because it shows you put care into your property. Gardening is a hobby that will enrich your life and the environment –get digging today!
If you have any questions or want more information about how to add curb appeal to your home, contact one of our licensed Mortgage Loan Originators. If you are ready to begin the home buying process, click here to get started!
Have you ever wondered how paint colors get their names? When there might be more than 50 variations of a color, marketers need to get creative!
