Thursday, October 29, 2020

Refinance is Still Hot

We are still able to lock good interest rates for our customers. Contact us now for your home refinance.

© 2020 Affiliated Mortgage, LLC. NMLS #14211: AZ NMLS#0947858. All Rights Reserved. Affiliated Mortgage, LLC is a Division of Lend Smart Mortgage NMLS #4474

Developed and designed by https://blairallenagency.com

The post Refinance is Still Hot appeared first on Affiliated Mortgage.

Monday, October 26, 2020

Sioux Falls, South Dakota Cost of Living 2020 | Affiliated Mortgage

Sioux Falls won’t hit your pocketbook as hard to live in comparison to most other cities across the United States. This is due in large part to a very favorable tax climate, affordable housing, and affordable utility costs. Sioux Falls, South Dakota’s cost of living is 6% lower than the national average. The cost of living in any area can vary based on factors such as your career, its average salary, and the real estate market of that area. In fact, when it comes to the cost of living, Sioux Falls ranks among the most reasonable places to reside. Livability.com goes as far as to say that Sioux Falls “explores what makes small-to-medium sized cities great places to live,” while recently naming Sioux Falls as the #5 best affordable place in America.

In addition to this, South Dakota’s general sales tax is approximately 21% lower than the national average. South Dakota is devoid of personal property tax, inheritance tax and has no corporate income tax, which has led to many businesses relocating or expanding their workforce in Sioux Falls.

South Dakota Sales Tax:

State General Sales Tax With Max Surtax
South Dakota 4% 6%

South Dakota Income Tax:

State Income Tax (High) Income Tax (Low)
South Dakota 0% 0%

Housing, Utilities & Transportation

When compared to other cities in the region, Sioux Falls’ housing prices rank among the best. Multiple varieties of housing options and styles exist, which of course allow for the accommodation of preference for both lifestyle and budget.

MEDIAN HOME PRICE MEDIAN RENT

 

ENERGY BILL

 

PHONE BILL

 

GAS

 

TIRE BALANCING
$277,947 $870.69 / month $186.27 / month $198.56 / month

 

$2.51 / gallon

 

%38.40

Goods and Services:

HAIRCUT BEAUTY SALON TOOTHPASTE MOVIE BOWLING SHAMPOO
$16.15 $30.20 $2.13   $9.75 $15.19 $1.13  

Food & Grocery:

Sioux Falls has grocery prices that are about 6% lower than the national average.

LOAF OF BREAD GALLON OF MILK

 

EGGS

 

BANANAS

 

HAMBURGER

 

$3.13 $1.82

 

 

$1.70

 

$3.16

 

$3.98

 

 

Healthcare:

Healthcare in Sioux Falls is about 7% higher than the national average.

DOCTOR’S VISIT

 

DENTIST VISIT

 

IBUPROFEN OPTOMETRIST VISIT

 

VETERINARY VISIT

 

LIPITOR
$117.91

 

$101.29

 

$9.59 $110.48

 

$50.23

 

$447.40       

The numbers are subject to change and are published in October 2020.

Contact us at (605) 718-9820 or schedule a call and let our mortgage experts help you with your home loan.

SCHEDULE A FREE CONSULTATION

© 2020 Affiliated Mortgage, LLC. NMLS #14211: AZ NMLS#0947858. All Rights Reserved. Affiliated Mortgage, LLC is a Division of Lend Smart Mortgage NMLS #4474

Developed and designed by https://blairallenagency.com

The post Sioux Falls, South Dakota Cost of Living 2020 | Affiliated Mortgage appeared first on Affiliated Mortgage.

Thursday, October 22, 2020

Levi saved $127,357 by refinancing his home

Levi saved $127,357 by refinancing his home at a lower interest rate. The interest rates are still low. We have recently helped many of our customers save thousands of dollars by refinancing their homes.

It is your turn! Don’t wait. Refinance now.

We look forward to speaking with you soon!

© 2020 Affiliated Mortgage, LLC. NMLS #14211: AZ NMLS#0947858. All Rights Reserved. Affiliated Mortgage, LLC is a Division of Lend Smart Mortgage NMLS #4474

Developed and designed by https://blairallenagency.com

The post Levi saved $127,357 by refinancing his home appeared first on Affiliated Mortgage.

Tuesday, October 20, 2020

Looking for a home loan?

Affiliated Mortgage has helped hundreds of first time home buyers with the best mortgage rates and seamless qualification process.

© 2020 Affiliated Mortgage, LLC. NMLS #14211: AZ NMLS#0947858. All Rights Reserved. Affiliated Mortgage, LLC is a Division of Lend Smart Mortgage NMLS #4474

Developed and designed by https://blairallenagency.com

The post Looking for a home loan? appeared first on Affiliated Mortgage.

Monday, October 19, 2020

Billings, Montana Cost of Living 2020 | Affiliated Mortgage

Billings is the largest city in the US state of Montana, with an estimated population of 109,577 as per the population census of 2019. Billings is a perfect blend of culture and history with plenty of sites for outdoor adventures, and the 23rd most expensive city to live in.

The cost of living is basically the cost of maintaining a certain standard of living. In the United States, the cost of living indices are based on a US average of 100. So, any value below 100 indicates that Billings is cheaper than the US average and the cost of living index above 100 indicates that Billings is more expensive than the average American city. A cost of living index of 94.9 indicates that Billings, Montana is relatively cheaper to live in than any other US city.

What is the average cost of living in Billings, Montana?

The average income of a Billings resident is $28,364 a year, which is approximately $190 less than that of an average US citizen residing elsewhere and the median household income per year is estimated at $49,265. Over the years, the job market diminished in Billings, as a result, the cost of living has increased, with housing being the biggest factor in the cost of living difference- the median home price in Billings is around $230,000.

Cost of Living

The table below compares the cost of living in Billings with the rest of Montana:

COST OF LIVING Billings Montana USA
  Overall 94.9 94 100
  Grocery 101.3 99.6 100
  Health 96.7 100.2 100
  Housing 99.7 100.4 100
  Median Home Cost $230,500 $232,100 100
  Utilities 95.6 90.7 100
  Transportation 75.2 75.2 100
  Miscellaneous 102 98 100

While the overall cost of living in Billings is higher than the rest of Montana, health and housing are relatively cheaper.

Median Income & Debt-To-Income Ratio

Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
Owners $67,942 $5,662 $1,585 $2,038
Renters $33,940 $2,828 $792 $1,018

For homeowners, Billings has a median income of about $67,942, so according to this approximately $1,585 should be spent on expenses related to housing. The median income of renters is slightly higher than that of owners, so according to that value, renters should spend no more than $792 on all rental costs for the ideal standard of living.

Comparing Billings, Montana with Denver, Colorado

Cost of Living Indexes Billings, MT Denver, CO Difference
Overall Index: 94.9 128.7 35.6%  +
Food & Groceries 101.3 101.9 0.6%  +
Housing  99.7 184.3 84.9% +
Median Home Cost $230,500 $426,200 $195,700
Utilities 95.6 96.2 0.6% +
Transportation 75.2 116.1 54.4% +
Health 96.7 92.5 4.3%  –
Miscellaneous 102 102.8 0.8% +

The table above shows that Denver is 35.6% more expensive than Billings in terms of the cost of living. Housing is also the largest factor in determining the living cost in Denver, and the difference of median home costs is very large between the two cities, residing at $195,700. This means that the cost of living in terms of housing is approximately 85% more expensive in Denver than it is in Billings.

Even though the cost of living in Billings is relatively higher than the cost of living in the rest of Montana, Billings is relatively cheaper than the rest of the country.

Contact us at (605) 718-9820 or schedule a call and let our mortgage experts help you with your home loan.

SCHEDULE A FREE CONSULTATION

© 2020 Affiliated Mortgage, LLC. NMLS #14211: AZ NMLS#0947858. All Rights Reserved. Affiliated Mortgage, LLC is a Division of Lend Smart Mortgage NMLS #4474

Developed and designed by https://blairallenagency.com

The post Billings, Montana Cost of Living 2020 | Affiliated Mortgage appeared first on Affiliated Mortgage.