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Why was I countered?
Why was I countered?
Why was I countered? 1024 536 Vellum Mortgage

As a homebuyer, if you make an offer below list price, the seller may choose to reject, accept or simply let the offer expire. If there are multiple offers, the listing agent will lay out…

Cash Out Refinance
Understanding Cash-Out Refinances
Understanding Cash-Out Refinances 1024 536 Vellum Mortgage

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…

Thinking About Buying a Home - Here is a checklist.
Thinking About Buying a Home?
Thinking About Buying a Home? 1024 536 Vellum Mortgage

One of the first steps in the homebuying process is fully understanding your finances. Here is a checklist to help you prepare. Avoid making changes to your financial story that could hurt your ability to…

Before you make an offer, 4 tips for success.
Before You Make An Offer, Here Are 4 Tips For Success!
Before You Make An Offer, Here Are 4 Tips For Success! 1024 536 Vellum Mortgage

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…

What to do after closing on your home loan.
To Do After Closing On Your Home
To Do After Closing On Your Home 1024 536 Vellum Mortgage

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…

Pen Pals with Your Lender? Underwriters have questions.
Pen Pals with Your Mortgage Lender?
Pen Pals with Your Mortgage Lender? 1024 536 Vellum Mortgage

According to a piece in the Wall Street Journal, it is a common practice for underwriters to reach out to borrowers asking for letters of explanation sometimes referred to as “comfort letters” to firm up…

30 Year Mortgage
30 Years of Certainty
30 Years of Certainty 1024 536 Vellum Mortgage

Thirty years can sound like a lifetime when you’re talking about getting a 30–year fixed–rate mortgage. There are so many uncertainties in life and who knows where you’ll be in 30 years. Will you switch…

Should you refinance to a shorter-term loan?
Should You Refinance to a Shorter-Term Loan?
Should You Refinance to a Shorter-Term Loan? 1024 536 Vellum Mortgage

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…

Paying Extra Toward Mortgage Principal Pays Off
Paying Extra Toward Mortgage Principal Pays Off
Paying Extra Toward Mortgage Principal Pays Off 1024 536 Vellum Mortgage

Prepaying your mortgage: How reducing your loan principal can lead to big savings. When you prepay your mortgage, it means that you make extra payments on your principal loan balance. Paying additional principal on your…

Appraisal Methods
Appraisal Methods
Appraisal Methods 1024 536 Vellum Mortgage

When you’re buying a home using a mortgage, refinancing your existing mortgage or selling your home to anyone other than an all-cash buyer, the home appraisal is a key component of the transaction. Whether you’re…

Real Estate - Relocating? Apps for Finding a Great Neighborhood
Apps for Finding a Great Neighborhood
Apps for Finding a Great Neighborhood 1024 536 Vellum Mortgage

A large part of a successful move is finding a good neighborhood. Here’s a few ways to find what pretty much everyone agrees makes up a good ‘hood: Schools: You can view demographics and stats…

Pre-Approval - Verified by Vellum
Getting Pre-Approved Should Be Your First Step
Getting Pre-Approved Should Be Your First Step 1024 536 Vellum Mortgage

Many potential homebuyers underestimate their purchasing power and overestimate the down payment and credit scores needed to qualify for a mortgage today. Completing a quick and easy pre-approval is the first step in determining all…

Let’s Get Started Financing Your Home

You’re so close to being a homeowner or refinancing to meet your financial goals. Let’s do this!

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