Interest Rate

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…

read more
Mortgage - 13 Mortgage Questions to Ask
13 Mortgage Questions to Ask
13 Mortgage Questions to Ask 1024 536 Vellum Mortgage

Having a list of mortgage questions to ask potential lenders is just the start. Knowing the answers you’re looking for puts you ahead of the game. Which type of mortgage is best for me? This question will help you know if you’re talking to just a…

read more
Understand Your Loan Options
Understand Your Loan Options
Understand Your Loan Options 1024 536 Vellum Mortgage

Not all home loans are the same. Three key choices are the loan term, or length of the loan, the interest rate type and the loan type. Knowing what kind of loan is most appropriate for your situation prepares you for speaking to lenders. A…

read more
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 gather all your supporting documentation: What is your annual gross…

read more
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 that go into it, too. Beyond your credit history, lenders…

read more