Moving can be a very stressful time. A lot of preparation and work is involved even if you are moving a short distance, never mind relocating across the country. While it is unlikely relocating will be completely stress free, here are some tips that will help to make the process easier.

Research: Before relocating to your new city, state, or country it is important to do your research. Research the local economy to learn what the cost of living is in your potential new area and how the local job market is in the community. Research information on crime rates within the area as well as health care providers and their availability to learn more about the community. Knowing the local real estate market is also important information to know before relocating. If you have a family or are planning on having a family in the future, you should research the local school district within your potential community as well.

Selecting a Quality Real Estate Agent: Whether you are just buying, just selling, or buying and selling a home you will need to select a top-notch real estate agent. A great real estate agent will represent your best interests. Keep in mind that every real estate agent is different and utilizes different sales techniques. The best way to find a quality real estate agent is to properly interview at least three to four realtors before making a decision.

Prepare: If you have children or animals, relocating can be especially stressful. When relocating with children, make sure you have their new school and their healthcare providers already selected. If you have pets, make sure you discuss your move with your veterinarian before leaving your current community. Your vet will need to provide you with the records for your pet and may also give you tips to make the move easier on you and your pets.

Moving Your Belongings: When moving your belongings to a new location you will want to select a quality moving company to help ease the stress of the move. You should not have to worry about your belongings arriving safely to your new destination; a top quality moving company will ensure this happens. After selecting a moving company, you should consider letting them move all your larger household items. Some of the smaller items you can bring with you when you travel or you can ship them to your new destination. However, it is important to think before you pack. Learn what the weather will be like in your new location so you can determine what you will need to pack and what you can leave behind. Over time, people accumulate belongings that they have no need for, so if you haven’t used the item or worn a piece of clothing within a year, there’s a good chance that you won’t need these items in your new location. 

Now that you made it through house hunting, negotiating, and the loan process, you’re in the final stretch, closing. This is a very exciting time for both you and the sellers, since this is when the ownership of the home will be transferred. To ensure you are prepared for the closing process, here is what to expect.

1. The Walkthrough: After the sellers have moved out and before the actual closing occurs, you will need to do a final walkthrough of the property to confirm that the condition of the home is as it should be according to the sales contract. Some real estate professionals say you should allow 30 minutes or longer for a walkthrough, while others say you should walkthrough the home 24 to 48 hours before closing to allow time to handle any issues that may arise.

2. Closing Table: After you complete the walkthrough of the property, you will have to sit down with your attorney and possibly other various people including the seller, and your real estate agent at what is known as the “closing table”. Everyone will come together at a predetermined location to sign several legal documents in order to close on the purchase of the home. You will be required to review and sign the purchase agreement, a promissory note for the loan, mortgage documents, title documents, the settlement statement, and the truth in lending statement. The sellers will also have to sign the settlement statement, and the deed to the home. This whole process may take about an hour to complete.

3. What To Bring:

Buyers

- Each buyer will need a government issued photo ID, such as a driver’s license.

- A certified check or a cashiers check to pay for your share of the closing costs. Your lender will also provide a check with the remaining balance 

that is due on the home.

- Proof of payment for your homeowners insurance and your flood insurance policy (if you have one) just in case

your lender wants to review them.

- Any other outstanding documents or paperwork you have not provided.

Sellers

- A government issued photo ID, such as a driver’s license.

- Certified or cashiers check made payable to the title or closing company, if these costs aren’t being ded

ucted from the sales price.

- Copies of all the keys to the house

- Garage door openers

- Codes to the alarm or keyless entry system

4. The Keys: After all the paper work has been signed, and everything is in order, you will then be given the keys to the home. The home is now officially yours!

The underwriter is one of the most important people in the mortgage approval process. Without the approval of an underwriter, no lender will fund or close on a loan. It is the job of the underwriter to ensure a borrower can repay the loan they are applying for and to determine that the sales price is supported by the appraisal value before granting lending approval.

The approval of a mortgage loan is based on several things: income, credit history, debt ratios, and savings. A borrower must be able to prove a stable income and job history needed to repay the loan. They also must have a credit history that reflects a stable record of repaying obligations and a balanced debt to income ratio. Additionally, a borrowers monthly debt must fall within acceptable limits determined by the loan product’s guidelines. Lastly the borrower must show that they have enough money saved for their down payment and closing costs. It is also smart to have a few months of mortgage payments saved away in case of an emergency. The underwriter will evaluate all of this information and sometimes ask for more information or explanations from a borrower. So if you want to speed up the process of getting approved for a loan, the best thing to do is to respond with prompt and complete information.

A property’s appraisal value is also reviewed by the underwriter to ensure it supports the amount of the loan you are requesting. A good underwriter will also take into consideration the location of the property and how it may be affected by natural disasters, such as floods.

An underwriter does his or her best to calculate the risk involved when lending to a borrower. If an underwriter did not follow all guidelines and made a poor lending decision and the loan defaults, meaning a borrower stops making payments on their mortgage, it can result in a hefty cost to the lender. As you can see, the role of an underwriter is no easy job, as they must make important decisions based on their own judgements and experiences. 

Supply and demand, economic and physical infrastructure, and local income levels all play an important role in the cost differences among regions. Rising food, gas, and health-care costs have some Americans wondering where their dollar can go further. So we decided to do some research and discovered what the cheapest and most expensive cities were on the East Coast.

Most Expensive

1. Manhattan, NY- Manhattan, New Yorks most expensive town, is the only area in the country where living costs are more than double the U.S. average. They say if you can make it here, you can make it anywhere.

2. Stamford, CT- This small town has one of the highest concentrations of millionaire households in the country. Here, the housing costs are more than double the national average and living expenses run anywhere between 8% to 27% above average according to the 2014 research by the Council for Community and Economic Research also known as C2ER.

3. Washington, D.C.- The cost of living here is 40.1% above average, according to the C2ER. Local housing expenses at 2.5 times the U.S. average can be taxing, but other goods and services such as utilities, transportation, and health care have near normal prices.

4. Boston, MA- While this city is definitely not cheap, Boston offers the most affordable housing expenses and home values among these expensive cities. Unfortunately, the savings stop there.

Least Expensive

1. Memphis, TN- Memphis is the biggest city in Tennessee, yet it doesn’t have the big city prices. In Memphis, you can buy a house for less than $100,000, according to the C2ER. This is a price tag difficult to match in a similar sized city.

2. Springfield, IL- The cost of living in the Springfield metro area is about 14% below the U.S. average according to C2ER. However, the median household income is higher in comparison to the other least expensive cities.

3. Youngstown, OH- This town has struggled to find its place in a modern economy. Home values are 73% less than the national median, and household incomes are 54% below the norm for the U.S.

4. Augusta, GA- For one week every April, Augusta becomes one of the priciest places in Georgia due to the Masters Golf Tournament. The other 51 weeks, Augusta is remarkably affordable, with the cost of living 12.9% below the U.S. average.

If you are relocating for a job or for a change of scenery, looking into the cost of living would be a great detail to consider. Certain factors, such as job type, salary, and what the area has to offer are also aspects to think about when making a location decision. 

By Day: Here at Norcom, Robert works as a Marketing Coordinator. He stays busy by coming up with new ideas in order to help promote and strengthen the Norcom Mortgage and Insurance brand. He also helps manage tradeshows, direct mailings, email marketing campaigns, social media presentations, and ordering promotional items for the retail, wholesale, and correspondent departments. He works closely with all the departments at Norcom and enjoys all the people he works with, especially the marketing team. He has been working at Norcom for almost a year now, but plans on working here for many more years to come and aspires to continue to grow with the company.

By Night: After a busy day at work, Robert goes straight to the gym, heads back home for dinner, and then he is off to bed. On Thursday’s, however, it’s guy’s night for Robert and he gets together with his close guy friends for some pizza or grinders. Together they hang out, watch sports, and discuss their weekend plans. In Roberts’s free time, he enjoys hanging out with friends and family, going to the gym, and playing in various sports leagues. Robert also likes to attend various college and professional sporting events for fun. Something that most people don’t know about Robert is that he has a twin brother named Justin.