29114 Log Cabin Hill Road, Lewes, De 19958 | $249,500

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Property Details

Lewes address and Cape Henlopen School District all for $249,500. This was a secondary home that was rarely used. Open floor plan with cathederal ceiling in living room which is open to dining room and kitchen. Freshly painted, this home is a wai
  • MLS Number: 723642
  • Status: Active
  • Price: $249,500
  • Property Type:
  • Area: Lewes And Rehoboth Hundred
  • Community: Stamper Farms
  • School District: Cape Henlopen
  • Square Footage: 1,248
  • Year Built: 2000
  • Bedrooms: 3
  • Full Bathrooms: 2
  • Number of Stories: 1
  • New Construction: No
  • County Taxes: $675
  • Furnished: No
  • Lot Square Feet: 40,075
  • Lot Size Acres: 0.92
  • Lot Description: Cleared, Landscaped
  • Water: Well
  • Sewer: Gravity Septic

Interior Features

  • Kitchen: Kitchen/Dining Room Combo, Pantry
  • Heating: Heat Pump(s)
  • Cooling: Central A/C, Heat Pump(s)
  • Flooring: Carpet, Vinyl
  • Basement: Crawl Space
  • Attic: Access Only
  • Appliances: Dishwasher, Disposal, Garage Door Opener, Oven/Range Electric, Refrigerator, Washer/Dryer Hookup Only, Water Heater Electric
  • Interior Features: Bedroom-Entry Level, Insulation, MBED-Full Bath, Screen(s), Vaulted Ceilings

Exterior Features

  • Style: Rancher/Rambler
  • Construction Type: Stick/Frame
  • Exterior Type: Vinyl Siding
  • Roofing: Architectural Shingle
  • Foundation: Concrete Block
  • Garage: Attached
  • Garage Size: 2
  • Parking: Driveway/Off Street, Garage
  • Porch/Deck/Patio: Deck - Rear, Porch - Front

Listing Courtesy of WILGUS ASSOCIATES-L

Earlier is Better for Securing an Ace Credit Score

Your credit score will have a major impact when it comes to the cost you wind up paying for a Lewes mortgage. A buyer with a high credit score of 750 or above will qualify for the most competitive interest rates available; but today’s tightened lending standards mean that some borrowers with scores under 600 may not qualify for a mortgage at all. And no matter what, a low credit score can mean paying an extra 3%-4% interest charge on every payment.

There is nothing permanent about a credit score. Lewes homebuyers who realize its importance—and who take early steps to improve their own—can save literally thousands of dollars.

  1. You can’t improve your credit score until you know what you are working with. Your first step is to obtain your credit reports. They are available for free once a year from each of the three major reporting agencies: Equifax, Experian and TransUnion.
  2. The fastest way to improve your credit score is to correct any inaccuracies. Because this takes time – anywhere from 30 days to as long as six months, the earlier you begin the process, the better. To remove items that are incomplete or inaccurate, verify the correct information using the dispute procedure on the agency’s website. The creditor has 30 days in which to validate the debt; if the credit agency does not receive a response to your claim, they are required by law to remove the entry from your report. Remember that there are three major agencies, so an incorrect item may appear on all three— and all three need to be contacted.
  3. If you have an older credit card that you haven’t been using for a while, it’s a good idea not to cancel it; even to use it now and again, paying the balance in full. This will mean that the issuer keeps reporting information to the credit bureau, which can be valuable. A longer credit history improves your credit score.
  4. A low credit utilization ratio measures how much of your available credit you are using. In order to improve your credit score, keep your credit utilization ratio below 20%. One way to quickly improve a utilization score is to move credit card debt onto cards with higher limits. While this will not make a difference to the amount that you owe, it will alter individual cards’ credit utilization ratios.
  5. Consider a Personal Loan. If you have a family member or friend that you can borrow from, consider taking out a loan in order to pay down a portion of existing debt. By removing some of that debt, you can give your credit score a boost.
  6. Moving away from being measured as a poor credit risk has the biggest impact on whether a future mortgage is approved—and how much interest you wind up having to pay. Your credit score in Lewes really matters! If you would like an introduction to a mortgage broker to begin the conversation about the home loan your current credit score qualifies you for, contact me today.

Call/text 302-228-7871 or email me, Russell Stucki, REALTOR® of Beach Real Estate Market to provide detailed information on Delaware homes for sale, investment and commercial properties, luxury and  waterfront homes, condos/townhomes, new construction, lots and land, farms and equestrian properties located in but not limited to Bethany, Bethel, Bridgeville, Dagsboro, Delmar, Ellendale, Fenwick Island, Frankford, Georgetown, Greenwood, Harbeson, Laurel, Lewes, Lincoln, Milford, Millsboro, Millville, Milton, Ocean View, Rehoboth Beach, Seaford, Selbyville, Delaware.

Mortgage Payment Timing Can Save Sussex County Buyers Thousands

It can be a true three-ring circus as you close in on signing day for your new Milford home. Sometimes there’s a near-simultaneous sale of the previous house that demands attention. There are the timing issues connected with moving out and then moving in. You may be dealing with furnishing the new house, school schedules, and sometimes work requirements have to be juggled; and everything seems to be happening at the same time.

Amidst all the details you are attending to, there is one that appears so simple that it may not get as much consideration as it deserves. Seeming almost like a non-decision, this one actually has major implications. It’s a true ‘sleeper.’

The subject is your decision on how you want to time the new mortgage payments for your new Sussex County home. It turns out that "once a month" is not necessarily the best answer.

Many lenders offer a variety of mortgage payment options, and they vary in ways that can make a surprisingly great financial difference over the long haul. No matter how busy you get, this is a decision which deserves some serious attention (and probably a hand calculator).

First, there is an English language oddity to straighten out: it’s about the prefix "bi."

If you think "bi" is a prefix that means ‘two,’ you’re right—but it also has two meanings:

1. ‘Bimonthly’ means twice a month (but not once every two months).

2. ‘Biweekly’ means every other week.

At first glance, "every other week" and "twice a month" seem to be the same thing; but they’re not. The difference is significant, because there are 52 (not 48) weeks in a year. As everyone comes to realize sooner or later, there are 4.3 weeks in an average month (not four). So the number of mortgage payments you will make could be 12 (if you go with the standard ‘once a month’ mortgage payment), or 24 (a bimonthly mortgage payment), or 26 (the biweekly choice).

Most people who choose either of the ‘bi’ payment choices consider a mortgage payment amount that’s exactly half of the monthly amount. If you choose the bimonthly plan, you might save a bit on interest by paying the first half a little bit early. But most lenders just hold the money and apply both payments at the end of the month—if so, the advantage disappears.

The real significant difference arises if you are offered a biweekly option. You can use any of the online mortgage sites to work out the precise details for yourself. Because you are making two extra payments a year, for instance, what would have been a 3.8% 30-year $225,000 loan for an Sussex County home actually turns into a 26-year loan. All else being equal, you’d own your Milford home free and clear four years earlier—and save more than $23,000 in the process!

No matter how hectic a house hunting and moving process becomes, it’s part of my job to help my clients keep the important details and decisions front-and-center. Getting the best answer to the mortgage payment choice is one of them; and of course, another best answer is to give me a call!