What is a Mortgage Commitment Letter?

December 11, 2018
Author: New England Home Mortgage
You are ready to buy a home and have been pre-approved for a mortgage. As you begin to look at houses in your price range, you think you have completed all you need to get a loan. But pre-approvals, especially in a competitive market, are not enough to show you are serious about buying. The next step is obtaining a mortgage commitment letter.
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What is Title Insurance?

December 4, 2018
Author: New England Home Mortgage
Title insurance protects both the home buyer and lender. This is necessary if the seller does not have clear ownership of the property. The one time payment for title insurance insures that you have full ownership of the home after closing.
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What is PMI?

November 27, 2018
Author: New England Home Mortgage
Home buyers are no longer confined to a 20% down payment in order to qualify for a loan. Both FHA and conventional loans offer options with down payments between 3% and 5%. Because lenders are taking a bigger risk with the borrower putting less money down, private mortgage insurance (PMI) may be required.
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What is a Reverse Mortgage?

November 20, 2018
Author: New England Home Mortgage
A reverse mortgage is available to homeowners who are 62 years or older. A reverse mortgage allows homeowners to convert home equity to supplemental retirement income. Instead of paying a monthly mortgage, the lender makes payments to the borrower. This type of loan is paid off when the home is sold or is vacated.
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What are Jumbo Loans?

November 13, 2018
Author: New England Home Mortgage
Many mortgage options are loans that conform to standards set by Fannie Mae and Freddie Mac. Because Fannie and Freddie buy mortgages from lenders, they set limits on the loan amount.
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What are Mortgage Points?

November 6, 2018
Author: New England Home Mortgage
Learn about what mortgage points are.
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Rehab and Renovation Loans

October 30, 2018
Author: New England Home Mortgage
Want to remodel your home? Read to find out if a rehab loan is right for you.
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Should I Refinance My Mortgage?

October 23, 2018
Author: New England Home Mortgage
Here's what you should consider before refinancing a mortgage.
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Fannie Mae and Freddie Mac: What's the difference?

October 16, 2018
Author: New England Home Mortgage
Fannie Mae and Freddie Mac are home mortgage loans with goverment backing.
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Fixed Rate vs. Adjustable Rate Mortgage: Which is best?

October 9, 2018
Author: New England Home Mortgage
When searching for a home loan, there are many factors to take into account. One of those decisions is whether to go with a fixed rate mortgage or adjustable rate mortgage (ARM). These refer to the interest rates on the loan you take out.
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What's Included in Closing Costs?

October 2, 2018
Author: New England Home Mortgage
Closing costs are a variety of lender and third-party fees on top of the purchase price of the home. The down payment is usually the main concern for home buyers, but it is equally important to equate closing costs into your budget.
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Down Payments: How much should I put down on a home?

September 25, 2018
Author: New England Home Mortgage
Have you heard of the 20% rule? Traditionally, you needed 20% as a down payment when buying a home. With different mortgage options, you can now go as low as 3% down, or in some special cases, 0% when buying a home.
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What is a USDA Loan?

September 19, 2018
Author: New England Home Mortgage
A USDA home loan is a mortgage offered to rural property owners by the U.S. Department of Agriculture. USDA loans are typically fixed-rate and terms usually run from 10-30 years.
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What is required to get a mortgage?

September 11, 2018
Author: New England Home Mortgage
Mortgages can seem like a confusing and stressful process. But making sure you meet the requirements and have your documents in order will help with the initial stages.
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What is a VA Loan?

September 4, 2018
Author: New England Home Mortgage
A VA loan is a mortgage loan program established by the United States Department of Veterans Affairs to help veterans and their families obtain home financing. VA loans are provided by private lenders. This type of loan is typically fixed-rate and terms run from 10-30 years.
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What is a CHFA Loan?

August 31, 2018
Author: New England Home Mortgage
CHFA financing is done through Connecticut Housing Finance Authority and offers a variety of loan programs for first time homebuyers in Connecticut. Borrowers who have owned previously may also apply if they have not owned in the past three years or plan to buy in a Federally Targeted Area of Connecticut. CHFA offers 30-year, fixed-rate mortgages.
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What is an FHA Loan?

August 22, 2018
Author: New England Home Mortgage
An FHA is a mortgage loan made by FHA-approved lenders and insured by the Federal Housing Administration (FHA). FHA loans are available for buying single and multi-family homes as well as refinancing a mortgage. An FHA is typically fixed in its rate and terms run from 10-30 years.
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Logo Launch Conversations

August 14, 2018
Author: New England Home Mortgage
At New England Home Mortgage’s logo launch on July 30th, we celebrated our new look with some of our favorite people. As we mingled, the same sense of appreciation kept coming up in conversation: NEHM has a reputation of being attentive to clients and timely throughout every step of the mortgage process. Read on to find out what people we work with have to say about NEHM.
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What is a Conventional Loan?

August 8, 2018
Author: New England Home Mortgage
Learn the pros and cons of a conventional loan.
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How Does Refinancing A Home Work?

August 2, 2018
Author: New England Home Mortgage
Are you looking to extend the life of your current mortgage, reduce your monthly mortgage rate or get some extra money for a remodel or renovation? Understanding the ins and outs of refinancing your home can open up options for you and possibly save you money.
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What to Look for in a Realtor

August 2, 2018
Author: New England Home Mortgage
Have you made the decision to begin looking for a new home or selling your current home, but need some direction on how to find the best local realtor? First and foremost, do not pick the very first realtor that you see online or on a yard sign.
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Preparing for a New Home Search

June 16, 2018
Author: New England Home Mortgage
Starting the process of looking for a new home is exciting. It can also be very overwhelming. It is imperative to understand the housing market in the area you are looking to buy, as well as the monthly costs to maintain a home in the area.
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Increasing Equity in Your Home

June 2, 2018
Author: New England Home Mortgage
Are you looking to increase the equity in your home in order to sell it quickly? Besides paying down your mortgage with additional payments and such, consider making a few minor fixes that will change the overall look and feel of your home and draw more potential buyers to the property. Get rid of clutter and focus on changes that will appeal to a larger pool of buyers. Here are some additional tips to help increase your homes’ value.
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What should you look for when buying a home?

May 12, 2018
Author: New England Home Mortgage
Searching for a new home is exciting, but can also be stressful. There are so many things to consider such as price, location, commute, school systems, size, taxes, safety and more.
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How much can I afford to spend on a house?

May 5, 2018
Author: New England Home Mortgage
When looking to purchase a home the first question is What Can I Afford? There are many variables to determining this including your income and debts, current interest rates, credit scores, how much of a down payment you can afford and your savings.
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When is the Best Time to Purchase a New Home?

April 21, 2018
Author: New England Home Mortgage
In the Spring and Summer months people get excited to make home repairs, enhance their curb appeal and put their homes on the market.
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How the New Tax Plan Could Change Homeownership

April 14, 2018
Author: New England Home Mortgage
Are you in the market for a new home or considering a mortgage re-finance, but wondering how the new tax plan will affect you? There are a few variables to pay attention new regarding the new tax plan and it affects individual mortgagees differently.
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How Does the New Tax Reform Affect Home Buyers?

April 7, 2018
Author: New England Home Mortgage
The GOP tax reform plan includes a number of changes that will affect both homeowners and buyers.
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How Much Equity Do I Have In My Home?

March 17, 2018
Author: New England Home Mortgage
Whether you are looking to sell your home or make modifications, it is important to know how much equity you currently have in your home. The amount of equity you have in your home plays an important role, especially when trying to qualify for a line of credit.
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Mortgage Rate Forecast for 2018

March 10, 2018
Author: New England Home Mortgage
The 2018 Housing Market will bring changes in Mortgages Rates. For those of you currently looking to purchase a home, you should expect an upward shift in mortgage rates.
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Are Home Prices on the Rise?

March 3, 2018
Author: New England Home Mortgage
Are you considering buying a home this year? Experts in the housing market have forecasted some interesting statistics pertaining the cost of buying a home in 2018. In the past year, home prices have risen an average of 6.5%.
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How much should you save for a down payment on a Mortgage?

February 18, 2018
Author: New England Home Mortgage
One of the first things to consider before house hunting is how much money the lender will expect you to put as a down-payment on a mortgage loan.
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What’s the difference between being Prequalified and Preapproved for a Mortgage?

February 10, 2018
Author: New England Home Mortgage
There is a difference between getting pre-qualified and pre-approved for a mortgage loan and you should educate yourself on the differences.
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Will Unemployment Affect My Mortgage?

February 3, 2018
Author: New England Home Mortgage
If you find yourself in a position of unemployment and are worried about staying current with your mortgage there are programs that can help you.
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Should I Refinance My Home NOW or Wait?

January 21, 2018
Author: New England Home Mortgage
Has the New Year got you thinking about refinancing your current home loan? If so, how do you determine whether or not it is worthwhile to refinance?
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How to Choose the Best Mortgage Loan

January 13, 2018
Author: New England Home Mortgage
Purchasing a new home is exciting. It can also bring with it a lot of confusion when it comes to deciding on which type of mortgage loan best suits your needs.
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Where are the Mortgage Rates Headed in 2018?

January 6, 2018
Author: New England Home Mortgage
If you are in the market for a new home in 2018, it is important to keep your eyes on the mortgage rates. Economists predict that over the next few years, mortgage rates will begin to rise above 4% and even 5%.
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30-Year vs. 15-Year Mortgage Loan

December 17, 2017
Author: New England Home Mortgage
How do I choose between a 15 year and 30 year mortgage? Most Americans buying their first home tend to choose a 30-year mortgage.
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How Does a Home Equity Loan Work?

December 9, 2017
Author: New England Home Mortgage
A home Equity Loan allows a homeowner to borrow money against the value of their current home. A lender will allow you to borrow up to a certain amount of your home and uses the equity in your home as collateral against the new loan.
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How Do I Qualify for a VA Loan?

December 2, 2017
Author: New England Home Mortgage
To be Eligible for a VA Loan, you be currently serving or formerly served in the US Armed Forces. There are many benefits of getting a VA loan, specifically the potential for 100% financing, low rates and zero mortgage insurance.
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What is a CHFA Loan?

November 18, 2017
Author: New England Home Mortgage
CHFA Loans are offered through the Connecticut Housing Finance Authority. They are for First-time Homebuyers who are looking to purchase a home in certain areas that are targeted for revitalization. CHFA Loans are offered at competitive interest rates.
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Is it Worthwhile to Re-Finance My Current Home Mortgage?

November 11, 2017
Author: New England Home Mortgage
If you are considering a home re-finance, it is important to understand the ins and outs of a mortgage refinance. When you refinance your current loan, you are essentially paying off your current loan and replacing it with a new one.
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What are the Best Ways to Increase My Credit Score?

November 4, 2017
Author: New England Home Mortgage
When applying for a mortgage loan, your credit score will greatly impact your eligibility. If your credit score is not so great, most lenders will recommend that you try to increase your credit score before applying.
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What are the Benefits of Reverse Mortgages?

October 21, 2017
Author: New England Home Mortgage
Reverse Mortgages are an attractive option for Seniors over the age of 62, who are looking for ways to supplement their retirement income. While there are no requirements for monthly mortgage payments, borrowers are required to pay the taxes and insurance on the home.
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Why work with a Mortgage Broker vs. a Traditional Bank?

October 14, 2017
Author: New England Home Mortgage
Most new home buyers do not know where to start when seeking a loan. Many go directly to their local bank for guidance. Using a Mortgage broker, like New England Home Mortgage has many benefits.
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What are the Benefits of a FHA Loan?

October 7, 2017
Author: New England Home Mortgage
If you are not sure what type of loan you may qualify for, you should do your homework and work with a Mortgage Broker to determine the different types of loans available and specific requirements for each. With FHA mortgages, you first need to meet their credit score requirements.
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Will Poor Credit Prevent Me From Qualifying for a Mortgage?

September 23, 2017
Author: New England Home Mortgage
Find out how your credit score impacts your ability to obtain a mortgage loan.
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Do I need to get Pre-qualified for a Mortgage Loan?

September 16, 2017
Author: New England Home Mortgage
If you are shopping around for a new home, it is important to get pre-qualified. Learn More about the pre-qualification process....
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Have You Been Affected by the Equifax Data Breach?

September 9, 2017
Author: New England Home Mortgage
Have You Been Affected by the Equifax Data Breach?
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Shift to non-bank loan originators

March 24, 2017
Author: New England Home Mortgage
Why there has been a shift from banks to non-bank loan originators like us.
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Driving forces behind today's mortgage market

March 24, 2017
Author: New England Home Mortgage
Who are the driving forces behind today's mortgage market? You will be surprised to find out.
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