Brexit – What’s Happening With Our Friends Across The Pond And How It Could Affect You

For those who haven’t heard, last week the UK experienced a historical shock when British voters surprised everyone and voted in favor of a British exit, aka Brexit, from the European Union. With the news of the UK  withdrawing from the European Union, experts have been in major debates over the future trickle effects this action may have across the world’s economy. Figures already show a $2 trillion loss to investors; this is the worst one-day drop on record according to data from S&P Global. .

Money

“How could a decision the United Kingdom made possibly have anything to do with me?” you might ask. Well, if economists’ predictions are correct, with their state in turmoil we will begin to see an increase in foreign and domestic investment here in the states. Basically, the dollar is the safe betright now and investors will begin replacing their money from UK and EU currency to US currency. This in turn will strengthen the US dollar as the British pound and euro decrease in value.

Savings

Experts are saying the Brexit outcome could directly affect the amount of interest you get on your bonds and CDs savings. If you are unfamiliar with how interest yields work, ultimately the Federal Reserve (our country’s central banking system) regulates and monitors global financial markets in order to maintain a stable financial system. So, since we are on the brink of a likely volatile market, the feds are in damage control mode; meaning a hike in yield rates are unlikely in the near future.

The Fed released the following statement, “The Federal Reserve is prepared to provide dollar liquidity through its existing swap lines with central banks, as necessary, to address pressures in global funding markets, which could have adverse implications for the U.S. economy.”

Mortgages

Although Brexit could possibly have negative implications for savers, there is a light in the darkness. Experts say mortgage rates are expected to drop to historic lows as individuals look for more secure investments. This is great news for consumers in the market to buy or refinance homes as they can take advantage of the low rates.

As the Brexit vote is still relatively new, we are still in a state of uncertainty as to what the actual economic effects will be. Many experts believe there will be no major economic effects at all. It is too soon to really gauge the long term impact Brexit will have

Things They Don’t Teach You In School – But Should

“Why didn’t they teach us this in school?” We’ve all probably said, thought or heard this question numerous times in our lives. Whether it’s referring to how to file taxes, the best way to save and invest or how to negotiate contracts and salaries, I’m sure we could come up with a pretty extensive list of life essentials they never taught us during our primary education! It’s infuriating at times. However, cursing our old grade school teachers won’t help us learn the crucial skills that practically every adult will inevitably need at some point in their life.

This is where we come in. Follow the AmeriSave blog for a weekly post update that covers one of the many important skills everyone should have to survive adulthood. Because whether you’re fresh out of college or a seasoned veteran of life, adulting can be hard.

This week: How to apply for a mortgage

The mortgage process can seem  daunting to a newcomer (or anyone for that matter), but trust us, it doesn’t have to be. At AmeriSave, we strive to make the mortgage process simple and straightforward so that you will feel confident and knowledgeable about your loan. Let’s break it down into steps:

Step 1: Apply for a pre-approval – This is an important step in your mortgage process. Ask just about any homeowner, and they will confirm how stressful it is looking for a home but not really knowing exactly how much home you can afford. With a pre-approval, after submitting all of the paperwork (W-2’s, pay stubs, federal tax return, bank and investment statements) you will be told the loan amount the lender is willing to give you.

Step 2: The application – At this point you have found a home and decided on a loan program. Now you’re ready to apply for your loan. You may need to provide more documentation and any additional information your lender may need. After you’ve applied and been approved for your loan amount, you will receive a commitment letter as well as your loan estimate.

Step 3: The appraisal – The property that you intend to purchase will need to be appraised. Your lender will order the appraisal in order to determine the loan amount based on the appraised value.

Step 4: Underwriting – After your lender collects all of your information, they put together a file that is then sent to the underwriter. The underwriter’s job is to make sure all of the requirements for the loan are met. This can typically result in more information being needed on your part before the loan can be finalized.

Step 5: Pre-Closing – You’re now in the final stages of the loan process. In this stage the loan is approved, your title insurance can be ordered and you can schedule your closing date.

Step 6: Closing – Congrats, you did it! Your loan is now closed, and you’re ready to move in!

Now that you have a bit more knowledge on the loan process you’re ready to apply for a pre-approval and begin your own loan process.

(Click here to check out our rates)

School’s Out For The Summer: 15 Things You Can Do With Your Kids

The sun is out and blazing, and the kids are at home complaining of boredom. That could only mean one thing – it’s summertime. Don’t let yourself, or your kids, fall prey to the mind sucking vortex that is the television set.

Check out this list we’ve compiled of summer fun you can have in or outside of the house. Don’t let summer pass you by on the couch. Get up, get out and get active!

1. Go berry picking

This family fun activity is sure to create lasting memories and leave you with full bellies and sticky fingers. There’s nothing better than picking your own fresh fruit straight from the vine. Check out this guide on the best times in the summer to pick specific fruits and berries.

2. Volunteer

Summer usually opens up a pretty wide space of available free time. What better way to fill it than by giving back to the community? Visit this site to find volunteer opportunities near you.

3. Canoe or paddle boat at a local lake

Is it really summer if you don’t spend some time on the water? Renting a canoe or paddle boat is a fairly inexpensive way to enjoy the sun and take a quick dip to cool off.

4. Break out the sprinklers and slip n slides

Does this really need any explanation? Send your kids outside and hookup one of these easy sprinkler systems and bam, instant water park for a fraction of the cost!

5. Bake summer treats 

Some of the best memories start in the kitchen. Cookie baking and decorating is the classic choice or check out this list of summer treats and make something new!

6. Play in the dirt again

Nothing makes you feel more childlike than getting a little dirt under your fingernails after a day of playing outside with friends. Get outside with your kids and dig some holes,plant some flowers, and strengthen those immune systems!

7. Having fun isn’t hard, when you’ve got a library card!

In an age where eBooks and Kindles are trying their best to make paper publishing all but obsolete, remind your kids what it feels like to browse the rows of old books. Getting a library card is a rite of passage for kids; make it a special event, or as the kids might say, something worth tweeting about. #LibraryWednesday

8. Turn yard work into a fun activity

If you work this one right, it could be a win-win for you and the kids. Is your lawn littered with weeds? Make up a game to see who can pull the weeds fastest. Nothing wrong with a little healthy competition, right?

9. Fort building

No matter what age you are, no one can say no to camping out in a well-built fort. On the next rainy day when you and the kids are stuck in the house, grab all of your blankets, pillows and chairs, move some furniture around and get to it!

10. Side walk chalk murals

Take coloring to the next level and make epic murals outside in front of your home! The great thing about chalk is the easy clean up. Allow your kids’ artistic abilities to shine and get the whole family involved! Click here for a glow in the dark chalk recipe.

11. Camp out in the back yard

Enjoy the fun of camping outdoors with the benefits of running water, electricity and your own bed just a few feet away. The kids will love backyard camping and if you don’t have a backyard fire pit, microwave s’mores are the best! (pro tip: use marshmallow fluff in place of marshmallows)

12. Take a hike

This activity is a great way to get off the couch and get active. Make it an adventure you and the whole family look forward to! Check out this list of the best hiking trails in America and go to the trail closest to you, or if the trail is too strenuous, find one that fits your family’s experience level!

13. Picnic in the park

Grab your family’s favorite snacks and sandwich ingredients, and head out to your local park. Check and see if your city has any special event’s such as pet day or picnic and a movie day; parks usually host many of these free events during the summer.

14. Homemade ice cream

Summer and ice cream are like peanut butter and jelly, they go hand in hand. Grab some of your favorite toppings and add-ins (how about fresh picked fruit from your berry picking trip) and enjoy the tasty treat from the comfort of your home.

15. Lemonade Stand

Depending on the ages of your kids, this is an activity that is not only fun but valuable. A lemonade stand teaches your kids about entrepreneurship and how to manage money. Stray away from the typical and try out one of these lemonade flavors for a yummy twist on the original!

Summer is a great time to relax and recharge, but like most great things it’s usually over in the blink of an eye. Start making plans now so you and your kids can have a summer to remember!

Check out our “Fun in the Sun” Pinterest board for even more fun summer family activities and don’t forget to follow us!

AmeriSave Mortgage Corporation Launches AmeriSave Advantage, A Real Estate Assistance And Rewards Program

Atlanta, Georgia – June 2, 2016 – AmeriSave Mortgage Corporation, NMLS ID #1168, adds value for customers with its new real estate assistance and rewards program, AmeriSave Advantage.

The AmeriSave Advantage program helps customers who are buying or selling a home and do not have a local real estate agent by providing access to a network of local real estate agents. While the agent helps the customer find a home, a client coordinator provides a high touch client experience, acts as an advocate for the customer and resolves issues when needed.  After the transaction is complete, the customer may receive a cash back reward based on the purchase/sale price of the home. For example, a customer purchasing a home for $300,000 could receive a reward of $1,300.

“We are excited to offer the AmeriSave Advantage program,” said Barbara Johnson, Chief Operating Officer. “This program continues the AmeriSave tradition of saving money for consumers and links them with a nationwide network of real estate professionals to guide them through buying and/or selling their home.”

The AmeriSave Advantage program is powered by the Cartus Corporation, a leading provider of employee relocation solutions. More information on AmeriSave Advantage can be found at amerisave.com/advantage.

About AmeriSave Mortgage Corporation

Founded in 2002 and headquartered in Atlanta, Georgia, AmeriSave Mortgage Corporation is one of the nation’s largest privately owned online home mortgage lenders. The company’s website provides homebuyers a simplified approach to the mortgage shopping, application and approval process. In 2010, AmeriSave established a Third Party Origination (TPO) division to provide funding for mortgage loans to community banks, credit unions, mortgage brokers and mortgage bankers. In 2014, AmeriSave expanded its footprint into retail lending in the southeast, California and Michigan. For more information about AmeriSave, please visit amerisave.com, on Twitter at @amerisave, and on Facebook at facebook.com/amerisave.