When is my first mortgage payment due?

April 9, 2019
Author: New England Home Mortgage
Closing on a new home brings many to-dos and dates to remember. You need to be organized, stay in constant communication with your mortgage broker and Realtor, and know what to expect as moving day comes closer.
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Mortgage Requirements for a Condominium

April 1, 2019
Author: New England Home Mortgage
Condominiums are a housing choice many people are drawn to - whether they are looking to downsize, live in a city, or don’t want to deal with the upkeep of a yard and exterior. But obtaining a mortgage for a condo comes with an additional set of requirements.
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What is debt-to-income ratio?

March 19, 2019
Author: New England Home Mortgage
Lenders use debt-to-income ratio, or DTI, to help determine the monthly mortgage payment you can afford. This ratio, calculated as a percentage, is found by dividing your monthly debts by your gross monthly income (your total pay before taxes).
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What is a loan origination fee?

March 12, 2019
Author: New England Home Mortgage
When you are buying a home, the list of items included in the closing costs can be daunting. One of the charges, if you get a mortgage, is a loan origination fee.
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Tax Deductions for Homeowners

March 5, 2019
Author: New England Home Mortgage
We know it’s not anybody’s favorite subject, but tax season is one of the reasons we believe in the value of homeownership. With tax breaks on mortgage interest and property taxes, tax season doesn’t have to be quite so scary for homeowners.
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Why NEHM Pre-approves for Property, Not Listing Price

June 17, 2019
Author: New England Home Mortgage
This question will undoubtedly come up as you begin your home search. To be considered a serious buyer, you must be pre-approved for a mortgage loan. But at New England Home Mortgage, we don’t approve you for a certain amount.
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February Mortgage Update

February 19, 2019
Author: New England Home Mortgage
Leading housing authorities have all predicted a rise in mortgage rates, with all but one forecasting rates going above 5% in 2019, according to The Mortgage Reports.
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When Should I Lock my Mortgage Rate?

February 12, 2019
Author: New England Home Mortgage
With low mortgage rates of recent years, people want to be sure the rates stay low before their closing date. This often raises the question: when should I lock my mortgage rate?
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Lunch & Learn with The Brians: Grow Your Business

February 5, 2019
Author: New England Home Mortgage
With over 50 years of industry experience, we have worked with a lot of homeowners and real estate agents. Connecting with other people is part of why we love our job - and we also believe in homeownership. Whether we are helping individuals find the best loan for their personal situation or meeting with realtors, we want to share the information we have learned over the years. That is why we created Lunch and Learn; a time to sit down and connect with Realtors while sharing information we have learned over the years.
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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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