PEOPLE are finding it harder to afford home loans, with higher interest rates taking their toll on first home-buyers in particular, a new report shows.

A home loan affordability report by loan deposit guarantee provider Deposit Power in conjunction with the Real Estate Institute of Australia (REIA) found home loan affordability worsened in every state and territory in the June quarter, with the exception of Tasmania where it was unchanged.

REIA president Tony Brasier said the results for the three months to June had hit first home buyers, who were expected to have struggled further following the August rate rise. Read more…

Buying a first home has always been everyone’s dream. Many families are unable to realize their dreams due to little or no cash reserves. Buying a home involves having cash to make your down payment as well as closing costs. On top of this, the first time home buyer, understandably, may not know which loan program best fits his/her needs. Zero interest home loans for first time buyers do not mean that zero interest will be charged. With a large variety of home loans available, it is no wonder that the first time home buyers are a confused lot.

Working through an experienced mortgage broker may ease your way, through the labyrinth of the processes involved and the types of loans available. Read more…

AllAroundTheHome.com has become a convenient and trusted source for local Washington DC, Northern Virginia and Baltimore residents searching for service professionals, because of the site’s unique approach to connecting the homeowner and the contractor. All Around The Home (AATH) allows the homeowner to select a contractor based on the location and description they most prefer. Companies like G&E Contractors (http://www.gandecontractors.com), a remodeling and addition company in Baltimore, receives customer contacts almost daily from the site. Read more…

Given Pittsburgh’s mosquito population in the summer and chilly breezes in the fall, it’s probably not a bad idea to also invest in some sort of table-top bug zapper for the former, and a chiminea, portable fireplace or outdoor blankets for the latter. (Textillery’s all-weather throws, which are made from durable, fade-resistant Sunbrella yarn and feel as soft as chenille, are especially nice.)

You should probably also factor in a place to eat, even if it’s little more than a corner, and some sort of lighting.

“If you’re not comfortable, you’re not going to use it,” says Ms. Whiteside. Read more…

Australian home-loan approvals probably rose in May as low unemployment and rising wages countered the effect of higher interest rates.

Approvals for loans to owner-occupiers to buy or build homes and apartments probably gained 0.8 percent from April, when they fell 0.5 percent, according to the median forecast of 18 economists in a Bloomberg News survey. The Australian Bureau of Statistics releases the report tomorrow at 11:30 a.m. in Sydney.

The Reserve Bank of Australia raised borrowing costs in May to stem inflation. That increase may not have stalled a rebound in the housing market, fueled by record wages growth and the lowest jobless rate in three decades. Most economists expect the central bank will raise interest rates again this year as growth picks up in the Asia- Pacific region’s fifth-largest economy. Read more…

Gardening is a sensual experience. You have the feel of dirt between your fingers, the tactile experience of kneeling to plant or weed, the sights of your garden treasures, the sounds of birds and squirrels, and even the ambient sounds of the neighborhood.

But there is one sense that has a special place for avid gardeners: scent. Mention aromatic plants and a weekend gardener thinks of kitchen herbs or the salvia family. However, there is a category of scented plants distinguished by one simple description: sweet. As in heady, perfumed, heavenly.

There are genera of familiar fragrant plants: rose, gardenia, honeysuckle, jasmine and wisteria. But there are also lesser-known plants that offer a bouquet of fragrances. (I have left for another day discussion of fruit trees and bulbs, whose perfumed scents deserve their own list.) Here are a few favorites. Read more…

With the ever-increasing cost of fuel, energy and materials, many low and moderate-income Denver homeowners may not be able to afford to make emergency or necessary home repairs. Fortunately, the Denver Urban Renewal Authority (DURA) directs two City of Denver housing programs which provide 0% or 1% fixed-rate interest loans to make emergency repairs and essential improvements possible.

DURA, the redevelopment agency engaged in commercial revitalization and housing rehabilitation throughout the City and County of Denver, has managed the City?s Emergency Home Repair and Single Family Rehabilitation programs for over three decades. In this manner, DURA continues to enable homeowners to improve their property?s safety and value, which, in turn, strengthens neighborhoods. Read more…

Home loan seekers usually face a dilemma of whether to opt for fixed rates or floating rates. This is mainly because many of them do not know the exact nature of differentiation between fixed rates and floating rates. There are some fundamental differences between the various rates on offer that individuals must appreciate before opting for a home loan.

To begin with, there are two basic types of home loans based on the interest rate - fixed rates and floating rates. Within the two broad categories exist sub-categories. The differentiation amongst the sub-categories has been outlined below: Read more…

The head of the China Banking Regulatory Commission has asked the banks to “effectively rein in” excessive lending to the real estate sector to curb soaring house prices.

At a policy meeting attended by senior executives of major Chinese banks, commission chairman Liu Mingkang called for “strict scrutinisation” of loans for investment homes, as well as luxury apartments and villas.

The down-payment requirement, as a percentage of the total costs of high-end properties, would be raised, he added, but did not confirm the margin, Xinhua news agency reported. Read more…

Brokers and correspondent lenders approved by Chase can now allow more of their home equity customers to take advantage of easier income-documentation requirements. The new Lite Income Documentation option is available for home-equity lines of credit and loans associated with primary residences, second/vacation homes and non-owner occupied homes and for purchase, cash-out and no cash-out transactions.

“Borrowers with strong credit backgrounds can verify their income with as little documentation as one pay stub that includes year-to-date earnings,” said Kimberly Salvo, Home Equity National Sales Manager. “Knowing that origination clients want faster and more convenient application processes, Chase has launched the Lite Income Documentation option to provide just that.” Read more…