Posts Categorized: Mortgage Process

Looking to Buy a Second Home? Jump in Now Before Rates Go Back Up in April

There will be rising costs for second home loans starting April 1, 2022. The FHFA (Federal Housing Finance Agency) recently announced that they will be increasing fees on specific home loans, including higher upfront fees on some high-balance and second-home loans that are sold to Fannie Mae and Freddie Mac. These fees will increase the… Read more »

The Benefits of VA Home Loans for Veterans

If you’ve served, you’re probably aware of the VA home loan benefit. However, VA home loans are often talked about in the abstract—let’s dive a little deeper into how this type of loan rewards you for your service. What is a VA Home Loan? A VA home loan is a mortgage loan in the United… Read more »

Why Should I Refinance My Home?

What is refinancing? You’ve heard of refinancing, but what is it? Refinancing is when you receive a new loan that revises and replaces the terms of an existing loan. Refinancing is ideal when you can lower your interest rate, monthly payment, and/or shorten the term of your loan. It’s often referred to in shorthand as… Read more »

5 Benefits of FHA Loans for New Homebuyers

Federal Housing Administration (FHA) loans, in existence since 1934, have been helping homeowners get a better deal on owning a home by offering low down payments, low closing costs, and lower qualifying credit. What is an FHA Loan? An FHA home loan is a mortgage issued by federally qualified lenders and insured by the Federal… Read more »

What to Expect When Applying for a Home Loan

The home loan process can be an overwhelming one. While each step is crucial, understanding each stage of the process will allow you to obtain a mortgage with confidence. 1. Initial Meeting An initial meeting will consist of a preliminary discussion of your financial overview and monthly mortgage expectations. You’ll want to make sure you… Read more »

20 Mortgage Terms You Need to Know Before Buying a Home

When looking into buying a home, you can be bombarded with an alphabet soup of acronyms and technical terms. To help you easily navigate the process, here are the ABCs you need to know before jumping into buying a home: Adjustable Rate Mortgage (ARM) – A mortgage with an interest rate and payments that adjust… Read more »

5 Factors of Your Mortgage Credit Score

As a local mortgage lender, we receive questions every day from clients, friends and neighbors about, well, mortgages. While these questions can vary, most people eventually ask about how to qualify for a mortgage and mortgage interest rates. Even though each borrower’s situation is unique, in many cases a major determining factor for qualification and… Read more »