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Private Mortgage Insurance
Private Mortgage Insurance
Private Mortgage Insurance 1024 536 Vellum Mortgage

PMI, aka private mortgage insurance, is a type of mortgage insurance from private insurance companies used with conventional loans. Similar to other kinds of mortgage insurance policies, PMI protects the lender if you stop making…

Moving Checklist & Planner
Moving Checklist & Planner
Moving Checklist & Planner 1024 536 Vellum Mortgage

Let’s face it, moving is stressful. Moving all your belongings from one place to another is hard, and so is relocating your life in general. But, let’s not forget that moving to a new place…

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…

New Mortgage Rules for the Self Employed
New Mortgage Rules For Self-Employed Borrowers
New Mortgage Rules For Self-Employed Borrowers 1024 536 Vellum Mortgage

Being your own boss comes with a lot of perks. Easier mortgage approval may not be one of them. If you’re self-employed, you must meet different requirements than a salaried person to qualify for a…

Why Use a Local Mortgage Lender
Why Use a Local Mortgage Lender?
Why Use a Local Mortgage Lender? 1024 536 Vellum Mortgage

Real estate agents who would represent you as a buyer do care which lender you use. They’ll often suggest that you use a local lender who’s experienced with your area’s nuances, such as local taxation…

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…

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…

Understanding Your Finances
Understanding Your Finances
Understanding Your Finances 1024 536 Vellum Mortgage

One of the first steps in the homebuying process is fully understanding your finances. It’s important and necessary to help you determine how much you can afford.  Start by asking yourself the following questions and…

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…

Factors that determine your interest rate.
The Factors That Determine Your Mortgage Interest Rate
The Factors That Determine Your Mortgage Interest Rate 1024 536 Vellum Mortgage

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…

Deciding Whether to Refinance
Deciding Whether to Refinance
Deciding Whether to Refinance 1024 536 Vellum Mortgage

During the term of your mortgage, you may want to refinance to meet a variety of personal and financial goals. Refinancing will completely replace your current mortgage with a new loan that provides you with…

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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