Full Disclosure: Why you should hire a mortgage professional

January 29, 2019
Author: New England Home Mortgage
A mortgage broker is a licensed financial professional. With access to various lenders, mortgage brokers can help you compare different loans and lenders to find the best fit for your personal situation. Because mortgage professionals develop relationships with several lenders, they are able to provide you with information and connect you with lenders you may not even be aware of.
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15 and 30-year Mortgages: Pros and Cons

January 22, 2019
Author: New England Home Mortgage
Most mortgage loans come with an option for term length: 30-year or 15-year. Many homeowners select a 30-year fixed rate mortgage as a way to save money on monthly payments. Here, we go through the pros and cons of each type of loan.
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The Mortgage Loan Process in 10 Steps

January 2, 2019
Author: New England Home Mortgage
The process for getting a mortgage shouldn’t be a guessing game. We’ve broken it down into 10 steps so you know what you - and your loan processor - are doing next.
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Appraisals: FAQ

January 8, 2019
Author: New England Home Mortgage
On most mortgage transactions, lenders require an appraisal. Brian Faye and Brian Taylor go through some of the most asked questions to help you understand this process.
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The Pros and Cons of Prepaying a Mortgage

December 26, 2018
Author: New England Home Mortgage
If you plan on staying in your home for an extended period of time, you may have thought about prepaying your mortgage. This means you make extra payments in order to pay off the loan before your term is up.
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Mortgage Terms You Should Understand

December 18, 2018
Author: New England Home Mortgage
The process of getting a loan and buying a home can be confusing and overwhelming, especially if you don’t know the mortgage jargon. Here are mortgage terms to know and understand to aid you in your home buying process.
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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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