If you are in the market for a home, you are no doubt aware that interest rates are rising. In fact, we can expect the Fed to raise them again in the near future. For that reason, this is a wise time to make a move on real estate. Below, we discuss the situation with interest rates in more detail … [Read more...]
Ways to Drop Mortgage Insurance
Depending on the type of home loan you have and the down payment you made, you might be paying for mortgage insurance as MIP or PMI. In either case, mortgage insurance is a significant ongoing expense that can eat into your finances. If you are able to stop paying for mortgage insurance, you can … [Read more...]
Budget for Home Maintenance When Buying a Home
There are a lot of costs involved in homeownership that you probably have thought of. You likely have factored in your down payment, expected monthly mortgage amount and interest, closing costs, and property taxes. But one thing you may not have thought about is how much you will be spending on home … [Read more...]
Credit Tips to Consider When Applying For a Mortgage
Are you applying for a home loan soon? If so, one of the most important things you can do is check and protect your credit score. Your credit score will be one of the key factors we assess. That means that if your score is high, you may qualify for more competitive rates and features for your … [Read more...]
Benefits of a Mortgage Pre-Approval Letter
One of the tools we offer home buyers here at First Residential Mortgage is a mortgage pre-approval letter. When you apply for mortgage pre-approval, we run your credit to generate an estimate of how much you qualify to borrow. We then print up a statement which you can show sellers as you … [Read more...]
Tips for Preventing Delays When Applying for a VA Mortgage
When applying for a VA mortgage, how do you make the process go as quickly and smoothly as possible? Below, we offer some suggestions that should help you to avoid unnecessary delays. Tips Before Applying for a VA Mortgage Be as accurate as possible. When you are applying for your VA mortgage, … [Read more...]
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