By now, you have probably heard that mortgage rates are at historic lows. However, it can be a little harder to get to an explanation of what this actually means. It’s important to understand how this might affect you if you are buying or refinancing a home. Are Mortgage Rates Really Low? Mortgage rates are …
Successful negotiation is based on following some well-proven steps. Negotiating is, essentially, ‘selling’ what you want to achieve to the other party in such a way they understand and accept because it also helps them to get what they want. When you approach negotiating this way, it becomes a positive process, avoids negative emotions, is …
Buyers who successfully negotiate with Sellers use the following tools… Read More »
Will my PMI drop off automatically? If your mortgage is a single family, primary residence when the balance of your mortgage is first scheduled to reach 78% of the original value of the secured property (based solely on your initial amortization schedule), your monthly PMI costs will be removed from your loan. PMI also terminates …
What is a recast? (EXAMPLE) A mortgage recast is a feature where the remaining payments are recalculated based on a new amortization schedule. During a mortgage recasting, an individual pays a large sum (over $5,000) toward their principal, and their mortgage is then recalculated based on the new balance. What types of loans are NOT …
You fell in love with your new home, and then you lived in it. Over time, things have started to look worn and frayed. The kitchen no longer excites you the way it used to. You wake up one day and your bathroom feels cramped and outdated. You keep catching yourself daydreaming about all the …
If you want to renovate or remodel your home but don’t have the cash to pay for it out of pocket, home renovation loans are a smart way to get your home improvement project funded and on track. Whether you’re adding a new room to your home, redoing your kitchen, or replacing your roof, home …
Is a Renovation Construction Mortgage Loan right for me? Read More »
A jumbo loan is a home mortgage for a higher amount. Choosing this type of loan One of the most important parts of buying a home is determining the kind of mortgage you need. At the very least, this part can be overwhelming – especially if the amount you need to finance is higher than …
The largest payment you’ll likely make on your home is the first one. That’s the down payment. It’s a percentage of the total purchase price. For example, a 5% down payment on a $400,000 home would be $20,000. The larger the down payment, the lower your monthly mortgage payment should be. So how much should …
How much should I save for the down payment for my Home? Read More »
It’s called a monthly mortgage payment, but it includes more than payment on the loan itself. Yes, it will include a portion to help pay off the principal loan amount, but that’s just for starters. It will also include interest and will likely include property taxes and homeowner’s insurance, as well. It may also include …
In terms of interest rates, we offer two types of mortgage loans: those with fixed rates that never change and those with adjustable rates that can go up or down over time. Both types offer the home buyer benefits. Which kind is right for you? Let’s take a deeper look. A fixed rate is predictable …
What is the difference between fixed and adjustable interest rates? Read More »
We make the Refinance process quick & easy. Simply complete the intake form and a Veterans Mortgage Broker affiliate will get back with you.
