Gelinas HVAC : Upgrading Your Heating System

As home owners there’s a lot to think about and sometimes your heating system can slip through the cracks. Upgrading your heating system can save you time and money. Is your heating system more than 10 years old? Do you find that you’re often making repairs to it? Or perhaps you’ve noticed hot and cold spells only in specific rooms? It is probably time to replace your system, but don’t take my word for it, call in a professional to have it evaluated.

 

Don’t make the mistake of waiting until your system dies, take the time now to do your research and look at all your options. It can by a lot of money to upgrade/replace your heating system so don’t let saving money on your energy bills be your only motivation. When you have the professional come in to evaluate your system make sure that they also check for leaky ductwork, which could be the cause of your issues.

If your heating system is more than 10 years old, there are some amazing new energy efficient systems to choose from. One great place to start would be to contact your local HVAC professional, like Gelinas HVAC, and have them check out your current system and for any potential leaks. While they’re there they will be able to offer you recommendations on what size and type of unit is best for you and your home. Don’t let you old system cost you more money, call a professional today!

Morrison Real Estate : Private Mortgage Insurance

First off, what is private mortgage insurance? Often referred to as PMI, it is an insurance policy that is designed to protect the lender from any loss on their investment if you end up in foreclosure. PMI is determined based on how much you put down as well as your credit score. It can range from 0.3% – 1.5% of the orignial loan amount per year. It can be around $100 a month or more depending on how much your mortgage is for.

Don’t worry, if you have to get PMI you won’t be stuck with it forever! Once the principle of your loan drops below 78% of your home’s value, the lender MUST automatically cancel your private mortgage insurance. Although it does get automatically canceled it can take several years to get your principal below 78% of your home’s original value. It is a good idea to keep an eye on your loan balance and contact your lender once your balance reaches 80% of your home’s value.

Reaching below 78% of your home’s value isn’t the only way to get your PMI cancelled. Refinancing or getting a new appraisal could get your PMI canceled. Getting a new appraisal would help if you think your home’s value has increased largely. One thing that will help increase your home’s value would be home improvements that would increase it’s value. Contact your lender to run some numbers for you!

Another great way to get your PMI canceled would be through refinancing. Not only could this get your PMI possibly canceled it could also get you a lower monthly payment.

In conclusion, most people will end up needing private mortgage insurance, but you’re not stuck with it for the life of your mortgage!