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The Homeowner's Guide to Buying a Generator

How to Buy a Generator in Texas - Port Aransas Homes for Sale
With dozens of horrible storms in the rear-view and more on the horizon, there’s never been a better time to invest in a home generator. With the right preparation and planning, you can avoid power outages and their aftermath.
But where do you even begin your generator-shopping journey?

How to Buy a Generator for Your Home

There are two types of generators you can purchase for home use: small, portable options and large, standby generators.

Small, Portable Generators

Typically, small, portable generators cost between $500 and $1,500. However, that affordability comes at a price.
Small, portable generators for home use can power your home’s essential appliances, and their simple to set up. However, these types of generators require manual operation. You’ll also have to monitor these generators closely.
In order to get your portable generator running, you must be at home when the power goes out. These types of generators run on fuel—and their tanks hold between three and six gallons, on average—so you’ll need to be on standby for a fill-up.
Because there’s a risk of carbon monoxide poisoning from the engine exhaust, your portable generator must be at least 10 feet away from your home (that’s something to think about during inclement weather). As an extra precaution, you may want to hook up a carbon monoxide detector when you’re running your portable generator.

Standby Generators

Standby generators are equipped to automatically start when the power goes out.
However, these generators typically cost about $10,000. Maintenance is necessary every two years, and it does need to be performed by licensed technician. Large, standby generators have about a 15-year lifespan, provided that they are properly maintained.

Should You Invest in a Generator?

There’s no question that power outages are inconvenient—but for some people, they can be deadly, such as those who rely on home medical equipment.

Are You Buying a Home in Port Aransas?

Whether you’re looking for a home for sale in Port Aransas orNorth Padre Island, we’d love to help you find the perfect place to live.
Call us at 361-563-7788 or get in touch with us online to tell us what you want from your next home. We’ll start searching right away.
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What You Need to Know About VA Loans in Port Aransas

VA Loans in Port Aransas - Port Aransas Homes for Sale
If you’re a veteran of the U.S. Armed Forces, you’re most likely eligible for a VA loan.
Unfortunately, many people aren’t aware of all the benefits that go along with a loan backed by the Veterans Adminstration—or even how they work.

VA Loans: The Basics

It’s not exactly accurate to call it a VA loan. The funding doesn’t actually come from the Veterans Administration; it comes from a private lender. We call it a VA loan because the VA guarantees a portion of it. (That includes the VA reassuring lenders that if you default on your loan, the lender can go to the Veterans Administration to recoup their investment.)

Benefits of VA Loans

If you choose to use a VA loan, the benefits include:

  • No down payment required, as long as the home’s sale price doesn’t exceed its appraised value
  • No private mortgage insurance premium requirements (most people have to pay PMI if they’re putting down anything less than a 20 percent down payment)
  • The VA limits how much the lender can charge you for closing costs
  • Sellers are permitted to pay your closing costs
  • Lenders can’t charge you an early repayment penalty if you pay off your house before the length of the mortgage is up

Finally, if you run into trouble making your mortgage payments, the VA may be able to help you.

The Maximum Debt Ratio for VA Loans

There isn’t a maximum debt-to-income ratio for a VA loan. The lender does have to provide the VA with “compensating factors” if your DTI is over 41 percent, though. Many lenders have a maximum DTI, and in some cases, it’s lower than 41 percent.

Minimum Credit Scores for a VA Loan

The Veterans Administration does not have a minimum credit score requirement. Many lenders do, however.
Lenders must look at a veteran’s entire financial profile before making a lending decision, even if the vet’s credit isn’t as high as what the bank would typically require.

Are You a Veteran Buying a Home in Port Aransas or the Surrounding Communities?

Whether you’re looking for a home for sale in Port Aransas or North Padre Island, we’d love to help you find the perfect place to live.
Call us at 361-563-7788 or get in touch with us online to tell us what you want from your next home. We’ll start searching right away.
In the meantime, check out our: