29 Jun 2022 PMI: What is it? Do I Need it? How to determine which type of PMI is best for you In today’s market, saving for a 20% down payment can mean putting your home buying dreams on hold. Fortunately, there’s an option for buyers to put down less than 20% by utilizing private mortgage insurance, also known as PMI. What is Private Mortgage Insurance? […] Share on Facebook Share on Twitter
31 May 2022 Escrow: What Is It and How Does It Work? What is escrow and how does it work? Escrow is a common term you’ll hear during the home buying process, but if this is your first home, it’s one you might not be familiar with. There are two types of escrow accounts that will come into play when buying a home: During the process, funds […] Share on Facebook Share on Twitter
10 May 2022 What Happens After Underwriting? Wondering where underwriting fits into the homebuying process?Our First-Time Homebuyer Guide for Maine & New Hampshire explains each step from pre-approval to closing, so you know what to expect before and after underwriting. What happens after underwriting? There are a lot of specifics to the mortgage process, which can seem overwhelming if it’s your first […] Share on Facebook Share on Twitter
26 Apr 2022 Why Mortgage Rates Are Rising And What It Means Fo... Why mortgage rates are rising and what does it mean for home buyers? For a long time, we’ve been talking about how interest rates have been at historic lows. If you’ve been paying attention, you’ve noticed that now things are trending in the opposite direction, and we’re seeing rates rising significantly. What’s causing the increase? […] Share on Facebook Share on Twitter
12 Apr 2022 LTV Explained: What is “Loan to Value” for a M... When going through the lending process, you’ll encounter a lot of different terminology that can be confusing – particularly if it’s your first time applying for a mortgage. One of these terms is the loan to value (LTV) ratio. In addition to factors like your credit score, income, and general financial standing, LTV is one […] Share on Facebook Share on Twitter
