NH Mortgage Tips: What to Get Done Before the Snow Falls Roger Odoardi How to Obtain a NH Mortgage Before Year’s End. The window is slowly closing on 2014, and with the advent of winter slowly creeping upon us, the members of our NH mortgage team want to remind you that it’s best not to wait until snow falls in December to handle all of your home mortgage needs. This sense of urgency should apply no matter if you’re attempting to buy a house, sell your house, or renovate your house by the close of the year. Having helped numerous New Hampshire families get mortgage loans or obtain home improvement loans, it’s not uncommon for us to see a lot of activity at the end of the year involving people who are in crunch mode and feel they need to act immediately. But the old adage of “better late than never” doesn’t necessarily apply when it comes to getting a mortgage in New Hampshire. It’s best to be prepared and develop a plan. If you’re one of the many people in a rush to handle their NH mortgage-related business before the year closes out, consider the following end-of-year insight to ensure you’re not struggling with stressful and daunting deadlines. A little help goes a long way toward buying a home Enlisting the help of mortgage professionals can go a long way toward tackling the tall order of buying a home in a short period of time. While the time it takes to close a NH mortgage loan varies depending upon the type of mortgage, lending terms and individual situations, a typical mortgage loan takes around FOUR to SIX WEEKS to close from the application date. Getting the ball rolling on getting NH mortgage can take time, and often entails first getting pre-qualified, then linking up with a real estate agent who can get the wheels moving. A mortgage broker can do all of these things FOR YOU—thereby allowing you some time to do get your Christmas shopping and holiday planning complete before it’s too late. Winter weather makes for a tricky home improvement project. If you’re considering starting that home renovation project you’ve been putting off all year, be sure to get all of your ducks in a row with your home renovation loan before the weather begins to change. No matter if it’s an indoor or outdoor renovation project, chances are you’re going to want to get all your materials stored and the project buttoned up before winter arrives. A seasoned NH mortgage broker should understand what it’s like to work under these weather conditions, and therefore should be able to get you on the fast track toward gaining approval on that home improvement loan. Many people attempt to get these types of loans, especially those who are looking to update their home, customize their space, or simply increase the value on their home. Programs can change year-to-year Government programs can change based on the date, and many times this occurs at the end of the year. In some states, programs for first-time homebuyers might be in sync with the fiscal calendar, and therefore could be subject to different terms or conditions beginning January 1st. A NH mortgage broker will know all of these program deadlines, and should be able to advise you whether you need to act fast or not. Your mortgage closing costs can impact your taxes If you’ve purchased a home prior to end of 2014, you should be able to deduct certain closing costs associated with obtaining the financing of the property when you go to file your taxes in 2015. This can have a major impact on your taxes, but varies depending upon your income bracket and overall tax situation. A NH mortgage broker, although not necessarily as informed as an accountant, can steer you in the right direction toward understanding the tax implications of buying a home before the end of the year. With over 150 years of collective mortgage experience, Blue Water Mortgage knows how to achieve your mortgage goals in a short time frame. Not only do we offer various tools, tips and resources, but we also offer a variety of products and programs designed for first-time homebuyers and veteran homeowners alike. To learn more about the home buying process, give one of our brokers a call or check out our ebook: 10 Questions First-Time Homebuyers Need to Ask Before Applying For a Mortgage. Roger Odoardi Roger is an owner and licensed Loan Officer at Blue Water Mortgage. He graduated from the University of New Hampshire’s Whittemore School of Business and has been a leader in the mortgage industry for over 20 years. Roger has personally originated over 2500 residential loans and is considered to be in the top 1% of NH Loan Officers by leading national lender United Wholesale Mortgage.