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The 5 Questions To Ask Before You Refinance Your Mortgage
The interest rate on mortgages remains at or very near record low rates. While a number of people have already hit the refinance button, rates have ticked low enough that some may even consider a second refinance, or the rates are finally just too low to ignore for others. Regardless of your reason to refinance…
Read MoreHow Long Do I Have To Be Employed Before I Can Get A Mortgage?
A solid employment history is a good way to demonstrate that you have the ability to repay your mortgage. It demonstrates a trend that you have a source of income where you are able to predictably pay your monthly mortgage payment and ultimately repay the loan. Mortgages are all about risk when it comes to…
Read MoreRange Lending Core Values: Humane
Range Lending’s seven core values are what makes it the top choice when it comes to mortgages in Oakland, Macomb, and Wayne counties in Michigan. With each post of this seven part series, we will seek to highlight each individual core value and show you exactly how it makes us a better mortgage broker. These…
Read MoreRange Lending Core Values: Honesty
Range Lending’s seven core values are what makes it the top choice when it comes to mortgages in Oakland, Macomb, and Wayne counties in Michigan. With each post of this seven part series, we will seek to highlight each individual core value and show you exactly how it makes us a better mortgage broker. These…
Read MoreHow Can I Eliminate PMI?
If you purchase a home with a conventional loan for less than 20% with the down payment, you can expect to pay private mortgage insurance (PMI). Private mortgage insurance protects the lender if you were to default on your loan. You pay a monthly premium to the insurer who will pay a portion of the…
Read MoreRange Lending Core Values: Responsive
Range Lending’s seven core values are what makes it the top choice when it comes to mortgages in Oakland, Macomb, and Wayne counties in Michigan. With each post of this seven part series, we will seek to highlight each individual core value and show you exactly how it makes us a better mortgage broker. These…
Read MoreWhat Are the Top 10 Questions I Should Be Asking When Buying a Home?
Asking the right questions can save you, big time, when it comes to purchasing a new home. Here is a quick listing of the 10 most important questions to ask when purchasing a new home: What is my budget?If you visit a home that is two or three times your budget, of course it will…
Read MoreHere is Why Working With a Mortgage Broker is Better
When you are making a major life decision, do you prefer to be limited to one or two choices, possibly foregoing a better option? Or, do you prefer to have a slightly wider range of options available to make the best choice possible? While this is a rhetorical question, the answer is something you likely…
Read MoreWhat is the Difference Between My Interest Rate and APR?
Knowing the difference between your mortgage’s interest rate and APR (annual percentage rate) is not as confusing as it seems. Both rates relate to the total cost of your home loan, but each calculation comes from a subtle but distinct difference in inputs. It is important to understand the difference between an advertised rate and…
Read MoreWhat is the Difference Between Closing Costs and Cash to Close?
Located on the first page of your Closing Disclosure, you will find two lines at the end that can easily be confused. One of these sections is labeled “Closing Costs” and the other is labeled “Cash to Close.” These terms are more than simply semantics. They actually are two distinct components that comprise the costs…
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