August 9, 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.

August 9, 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.

August 9, 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.

August 9, 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.

August 9, 2019

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.

August 9, 2019

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.

August 9, 2019

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.

August 9, 2019

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.

August 9, 2019

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.

August 9, 2019

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.

August 9, 2019

Author: New England Home Mortgage

Learn about what mortgage points are.

August 9, 2019

Author: New England Home Mortgage

Want to remodel your home? Read to find out if a rehab loan is right for you.

August 9, 2019

Author: New England Home Mortgage

Here's what you should consider before refinancing a mortgage.

August 9, 2019

Author: New England Home Mortgage

Fannie Mae and Freddie Mac are home mortgage loans with goverment backing.

August 9, 2019

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.