Whether to move or remodel is a quandary many families face as they contemplate the best way to meet their needs. The average person moves at least 11 times in his or her lifetime, and often not far away. Nearly one third of Americans move to improve their quality of life, establish a household or meet a variety of family needs.
While moving is often desired or a necessity, 76 percent of Americans would rather upgrade their home to meet their needs rather than move to a new home, according to research by the Zillow real estate database company.
One of the best sources of reliable information about whether to move or remodel is a reputable, locally-based mortgage lender – one that is dedicated to home loans. A local lender understands the market and can help consumers determine what they would be able to afford if buying or renovating. Nutter Home Loans is strictly focused on home loans to expertly help those buying or refinancing.
“Our loan officers are dedicated to offering valuable advice as they create a home loan that benefits each customer’s situation,” said Jim Nutter, CEO of Nutter Home Loans, which has served consumers throughout the Kansas City region and the nation since it was founded here in 1951.
Pre-approval holds the key
Experts recommend obtaining a home loan pre-approval before house hunting. According to real estate professionals, home sellers prefer offers with a pre-approval letter. A pre-approval gives the seller the best assurance the homebuyer is financially able to close on the home purchase.
Millennials make up the largest group of homebuyers, and two thirds of them are buying for the first time. First-time homebuyers are especially concerned about being approved for a mortgage.
“A common misconception among first-time homebuyers is they think they are not eligible for a mortgage. In fact, they are typically eligible and often would save with a mortgage versus rent,” Nutter said. “It’s a thrill to bring the good news to customers. The fact that we ‘mortgage locally’ adds to their benefit. Buyers are working with a Kansas City company that creates their loan here and processes their mortgage payments here. This local connection is quite different from dealing with the many lenders whose standard procedure is to sell the loan outside the metro.”
Opting to renovate
Remodeling can help homeowners achieve an updated look and function needed to fit their lifestyle, as well as make their home more appealing when they decide to sell. Renovating also enables families to reconfigure their rooms to create the needed space and open floor plan that often adds to the flow of a busy home.
“A lot of people don’t realize that they can refinance their home loan and use some equity to get cash back in order to renovate,” Nutter added. “A Nutter Cash Back Refinance can be used for anything, but the majority of people refinancing choose to renovate and pay off high-interest debt. In this market, where homes have increased in value, homeowners are in an advantageous position to get more cash for their needs.”
A leader in home loans
Jim Nutter has been the company CEO since 2002 – growing Nutter Home Loans to one of the largest private home lenders nationwide. His forward-thinking policies have included making loans mobile-friendly and declining subprime loan business that ultimately triggered the last big recession. Jim Nutter reinforces the company’s mission and way of doing business: if a loan isn’t good enough for the customer, it isn’t good for Nutter.
NUTTER HOME LOANS
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James B. Nutter & Company DBA Nutter Home Loans NMLS# 2067, 4153 Broadway, KCMO, 64111.