July 2018 - Vellum Mortgage

Residential Mortgage Loan Underwriter

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By: Vellum Mortgage

July 30, 2018

Job Summary: The Underwriter is responsible for mortgage loans originated by correspondents according to guidelines set by Vellum Mortgage, FNMA, FHLMC, FHA, and VA, for underwriting loans and ensuring compliance with department guidelines, state and federal laws, and lending regulation. This position will clear conditions…

Should You Refinance to a Shorter-Term Loan?

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By: Vellum Mortgage

July 12, 2018

New homebuyers often choose to take out longer term mortgages such as a 30 year term mortgage on their new homes due to the security and peace of mind that a consistent monthly mortgage payment provides. However, a 30 year term can be really long…

Understanding Cash-Out Refinances

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By: Vellum Mortgage

July 12, 2018

If you’ve built up significant equity through your monthly payments and your home’s appreciation, a cash-out refinance may make sense to improve your general financial situation or the value of your home. With a cash-out refinance, you’re refinancing your mortgage for more than you currently…

To Do After Closing On Your Home

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By: Vellum Mortgage

July 9, 2018

After you finish signing at the closing of your new home, you’re handed the keys and the house is officially yours! But, there some things you should do to make sure the transition from your old place to your new address goes as smoothly as…

The Factors That Determine Your Mortgage Interest Rate

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By: Vellum Mortgage

July 6, 2018

When you take out a mortgage to buy a home, you pay interest over the years. So what determines that rate? Obviously, your credit history probably plays the biggest role, but there are other factors that go into it, too. Beyond your credit history, lenders…

Before You Make An Offer, Here Are 4 Tips For Success!

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By: Vellum Mortgage

July 2, 2018

With these four tips in mind you will be better prepared to make a successful offer. Understand How Much You Can Afford While it’s not nearly as fun as house hunting, fully understanding your finances is critical in making an offer. This ‘tip’ or ‘step’…