Donovan Schumacher - Alerus Mortgage - NMLS 704235

Stay organized with your home maintenance by following this month's checklist!

Wishing you a joyous Easter celebration with loved ones! Happy Easter!

Happy St. Patrick's Day!

Attention North Dakota Homeowners!
Remember to apply for your $500 property tax credit before March 31st. You will need your parcel number, and it will take less than 5 minutes of your time!

Apply at https://www.tax.nd.gov/prc

Find your property tax statement at http://www.ndpropertytax.com/

Attention, renters! Did you know you're already on the path to homeownership? Every time you pay rent, you're essentially helping someone else build equity in their property. Why not invest in your future and start building equity in your own home? Let's talk about how you can make the switch from renting to owning and take control of your financial future.

http://alerus.com/bio/donovan-schumacher/

Check out this month's maintenance checklist to stay on top of your home maintenance!

https://apply.alerus.com/ #/signup?referrerId=[email protected]

ND Homeowners - Be sure to apply for the ND property tax credit before March 31st to save up to $500 on your 2024 property taxes. You will need to have your parcel number which is found on your property tax statement. It will take you less than a couple minutes!

Apply at https://www.tax.nd.gov/prc

Most ND property tax statements can be found online at http://www.ndpropertytax.com/

Chimneys - Often overlooked as an important item in your home. I recently had mine cleaned from Paxton Chimney Service in Fargo. I highly recommend them. Prompt and courteous and very thorough, also very reasonable

Paxton Chimney Sweep & Repair – Kickin' Ash – One Flue at a time Yearly chimney sweeping is vital to the health and safety of your home & family. Creosote and soot buildup can cause chimney fires and air pollution.

JUST IN: FHFA conforming loan limits increase to $766,550 in 2024. Did you know that you can now borrower up to $766,550 before it is considered a "jumbo loan"? I'd love to tell you more about it!

As interest rates climb, temporary buydowns have become a method that some sellers and buyers may consider. Our 2-1 buydown program is a financing offer to reduce your interest rates for the first two years of a mortgage. If you opt for a 2-1 buydown, that means as a buyer, your interest rate is reduced by 2% the first year and 1% the second year.

Contact me to learn more:

http://alerus.com/bio/donovan-schumacher/

When shopping for a new home, remember to continue saving for your down payment and closing costs; you don’t want to be unprepared when you find your dream property. Read more tips:

https://alerus.com/financial-advice/10-tips-for-home-buyers/

Today is Get Smart About Credit Day! At Alerus, we know that credit plays a crucial role in your homebuying journey. Our team is here to help you navigate the ins and outs of credit and mortgage financing, ensuring you make informed choices for your dream home. Let's get smart about credit and secure your future. Contact me today.

Some exciting changes is coming to primary residence purchases. Fannie Mae has announced that starting from the weekend after November 18, 2023, it will accept 5% down payments for owner-occupied 2-, 3-, and 4-unit homes. This marks a departure from the previous multifamily financing requirement of 15-25% down payments for duplexes, triplexes, and four-plexes. Reach out to me for more information.

Did you know it's Financial Planning month? At Alerus, we are here to guide you through your home financing journey while also helping you make sound financial decisions. Let's work together to achieve your homeownership dreams and financial goals. Reach out today.

Wondering if you should pay discount points for a lower interest rate? We are here to help you navigate this decision. Discover the potential savings and benefits of paying discount points for a reduced interest rate. It's all about finding the perfect balance that aligns with your financial goals. Let's connect and explore your options and secure the best mortgage deal.

Use this calculator to help determine if this makes sense for you. https://bit.ly/3rXK87W

https://www.calcxml.com/calculators/hom05?skn=793&r=2&tabs=1

Save a little money at closing time with our Alerus purchase special! Get $1,000 credit towards closing costs.

*Terms and conditions: http://bit.ly/3RQZNyH

Contact us to get started:

http://alerus.com/bio/donovan-schumacher/

Whether you're a first-time or move-up home buyer, you may be considering postponing a purchase if your area's affected by climbing home prices. Or you may be balking at today's mortgage interest rates (more about those later in this newsletter).

However, no matter where prices and rates may be, you have some different strategies to consider.

Buy now, refinance later. While it's impossible to predict when interest rates will change, almost all lenders expect rates to eventually go down. If you're buying in an area where home prices are still rising, this approach could be worth considering, especially if you're renting and not building equity.

Make a larger down payment. If you have the funds to do this, it could help you in several ways. In addition to a possibly lower interest rate on a mortgage, it will provide lower monthly payments. Also, you may be able to forgo mortgage insurance or cancel it sooner than later.

Consider a shorter loan term. While this translates into higher monthly payments, it also earns you a lower rate. For example, while the current average rate for 30-year loans was 6.71% earlier this week (according to Freddie Mac), 15-year loans came in at an average rate of 6.06%. You'll also save quite a bit in long-term interest. (Source: https://direc.to/jyzN)

http://alerus.com/bio/donovan-schumacher/

Want to stay on top of your home maintenance this month? We have you covered. Go through this month's checklist and see what you need to do to make sure your home is in tip-top shape.

http://alerus.com/bio/donovan-schumacher/

National Hot Dog Day and a debate on whether ketchup belongs on the hot dog? What do you think?

Do you put ketchup on your hot dog? One sausage expert says 'stop it!' The ketchup debate rages on this National Hot Dog Day over tastes, traditions, and what is just none of your doggone business.

Attention all potential homebuyers! Even if you're not quite ready to make the leap into homeownership, it's never too early to start a conversation with a mortgage lender. By speaking with a lender now, you can get a better understanding of your financial options and prepare for a future home purchase. Don't wait until you're ready to buy - start the conversation today and set yourself up for success in the future! Contact us today.

http://alerus.com/bio/donovan-schumacher/

Ready to stay on top of your home maintenance this month? We have you covered. Go through this month's checklist and see what you need to do to make sure your home is in tip-top shape.

Ready to buy your next home? Contact me:

- http://alerus.com/bio/donovan-schumacher/

Keep your finances in check by monitoring your debt-to-income ratio! This important number is calculated by dividing your monthly debt payments by your gross income. A low ratio can improve your creditworthiness and help you achieve financial stability.

Ready to take the next step? Contact us to get started:

- http://alerus.com/bio/donovan-schumacher/

Are you thinking of buying a new home? Picking the right neighborhood is just as important as finding the perfect property. A good neighborhood can boost your home's resale value, affect the overall cost of homeownership, and enhance your quality of life.

Looking to buy your next home? Contact us to get started:

- http://alerus.com/bio/donovan-schumacher/

When shopping for a new home, there are many things that can derail your loan approval. These are the top four mistakes to avoid when buying your next home:

- http://alerus.com/bio/donovan-schumacher/

Did you know? In addition to the income tax deduction you receive, there are also other tax deductions you can take on your principal residence or second home.

Here’s what can be considered eligible for a tax deduction:

• Property Taxes
• Mortgage Interest
• Interest on up to $100,000 borrowed on a home equity loan or home equity line of credit
• Points you paid when you purchased the house
• Home improvements required for medical care

Source: https://intuit.me/40JXTn2

Save money at closing time with our spring purchase special! Get $750 credit towards closing costs.

*Terms and conditions: http://bit.ly/3RQZNyH

Contact us to get started:

- http://alerus.com/bio/donovan-schumacher/