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First Time Homebuyer

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 mortgage options available to you. Benefits of being Verified by…

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Article - What's the Point
What’s the Point?
What’s the Point? 1024 536 Vellum Mortgage

Your financial house is in order and you’re ready to make your dream of homeownership a reality. Now it’s time to get a mortgage. So what are these so called “points” and is there a point in paying them? A “point” equals one percent of…

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article_notreadystilltalktolender
Not Ready to Buy a Home? You Should Still Talk to a Lender.
Not Ready to Buy a Home? You Should Still Talk to a Lender. 1024 536 Vellum Mortgage

If you’re a first-time home buyer, you might think you’re not ready to purchase a house. Perhaps you’re concerned about your job situation, your previous credit history, or your high monthly expenses. Whatever the circumstances, every borrower and financial situation is unique. Unless you’re a…

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Things to Remember
Things to Remember 1024 536 Vellum Mortgage

There are many factors that can change your ability to qualify for a mortgage. It’s important to follow these guidelines until your loan is closed. Do Pay all your monthly bills on time Keep track of all your bank deposits and statements Find and organize…

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Millennials Buy Homes for Their Best Friends
Millennials Buy Homes for Their Best Friends 1024 536 Vellum Mortgage

One–third of Millennials had their best friends at heart — dogs, that is — when deciding to buy their first homes. According to an online survey conducted by Harris Poll, only wanting a bigger home and to build equity rather than pay rent to someone…

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3 Keys to Buying a Home
3 Keys to Buying a Home 1024 536 Vellum Mortgage

Mortgage guidelines for first-time homebuyers have changed over recent years. In order to ensure loan approval, you need to have everything in order before your application. Credit Credit is very important for the first-time homebuyer. An FHA loan allows a lower credit score, sometimes as…

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Pre-Qualification vs. Pre-approval
Pre-Qualification vs. Pre-approval 1024 536 Vellum Mortgage

Two often confused terms in the home buying process are a mortgage loan pre-qualification and a home loan pre-approval. Here’s what you really need to know about each one. Pre-Qualification A mortgage pre-qualification is simply an estimate of how much home you can afford and…

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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 is an exciting time! We scoured the internet looking for…

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thinking of buying a home
Thinking About Buying a Home?
Thinking About Buying a Home? 628 419 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 qualify for your home loan. Do Make and stick to…

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To Do After Closing On Your Home
To Do After Closing On Your Home
To Do After Closing On Your Home 1024 768 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 old place to your new address goes as smoothly as…

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