Have an adjustable rate mortgage (ARM) and been thinking about refinancing to a fixed rate? You may want to consider taking action. If you have been following mortgage rates closely over the past couple months, you are probably aware that rates have been quite low. Now, according to the most recent … [Read more...]
Tips for Choosing a Mortgage Broker in Christiansburg
As part of the Blacksburg-Christiansburg-Radford Metro Area, Christiansburg features lovely, affordable homes, profitable employment opportunities, and access to nearby Virginia Tech. If you are looking to buy a home in the beautiful town of Christiansburg, VA, you are going to need to start by … [Read more...]
Quick Tips for First Time Homebuyers
Trying to navigate the world of home loans as a first time homebuyer can seem complicated. To try and make it simpler for you and to make the process a bit smoother, we've put together a quick selection of tips for buying your first home and choosing the right home loan. • While you should … [Read more...]
Could an FHA Mortgage Be Right for You?
When you're shopping for a home, you need to figure out what type of mortgage will be most suitable for your needs. One type of home loan you might be considering is an FHA loan insured by the Federal Housing Administration (FHA). This type of mortgage has many benefits which make it an … [Read more...]
Want to Qualify for an FHA Loan? Here’s What You Need to Do
We get many customers at First Residential Mortgage who want to apply for an FHA loan. This type of mortgage is relatively easy to qualify for; it was designed to be so. But what do you need to do in order to be found eligible? Here is a quick rundown to help you prepare to apply. 1. Make sure … [Read more...]
Myths About Credit Scores and Buying a Home
When applying for a mortgage, a high credit score is likely to qualify you for the best home loan offers. As such, it is perfectly natural to be focused on your credit score as you shop for a home. But you could have incorrect assumptions about credit scores and mortgages. Here are a few common … [Read more...]
PMI: Worth It or Not?
If you are not able to put a large down payment on a home, you may be required to purchase private mortgage insurance (PMI). This may force you to make some difficult financial decisions. Should you pay for the PMI? Or should you look for a way to avoid it? Will it be largely beneficial or harmful? … [Read more...]