Loan Options
Grants & Down Payment Assistance Programs
Grants & Down Payment Assistance Programs https://www.vellummortgage.com/wp-content/uploads/2019/10/20-down-payment-not-anymore-1024x536.png 1024 536 Vellum Mortgage https://secure.gravatar.com/avatar/dee8e5a47d05ab38f02d6bd2713fd0c0?s=96&d=mm&r=gA 2017 Zillow survey of 10,000 American adults found that two-in-three people who were then renting identified saving for a down payment as their biggest obstacle to homeownership. If you want to become a homeowner, but you don’t have enough cash for a down payment,…
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101% Yours
101% Yours https://www.vellummortgage.com/wp-content/uploads/2019/10/101-yours.-no-mortgage-insurance-1024x536.png 1024 536 Vellum Mortgage https://secure.gravatar.com/avatar/dee8e5a47d05ab38f02d6bd2713fd0c0?s=96&d=mm&r=g101% Financing, No Mortgage Insurance Owning a home is the American Dream! Whether you are a first-time buyer or moving up, we’ve made it easier than ever to get into a new home…even helping with closing costs. We are able to finance 101% of your…
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How a 20-year home mortgage can save you money.
How a 20-year home mortgage can save you money. https://www.vellummortgage.com/wp-content/uploads/2019/09/article_20yearmortgage-1024x536.png 1024 536 Vellum Mortgage https://secure.gravatar.com/avatar/dee8e5a47d05ab38f02d6bd2713fd0c0?s=96&d=mm&r=gThe 30-year fixed-rate home mortgage dominates the housing market, particularly for first-time buyers who appreciate the ability to extend their home loan payments for the longest possible term. The second most common fixed-rate loan term is 15 years, but many lenders also offer loan terms…
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Should You Refinance to a Shorter-Term Loan?
Should You Refinance to a Shorter-Term Loan? https://www.vellummortgage.com/wp-content/uploads/2018/07/article_refishortertermloans-1024x536.png 1024 536 Vellum Mortgage https://secure.gravatar.com/avatar/dee8e5a47d05ab38f02d6bd2713fd0c0?s=96&d=mm&r=gNew 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…
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Paying Extra Toward Mortgage Principal Pays Off
Paying Extra Toward Mortgage Principal Pays Off https://www.vellummortgage.com/wp-content/uploads/2019/04/article_prepayingyourmortgage-1024x536.png 1024 536 Vellum Mortgage https://secure.gravatar.com/avatar/dee8e5a47d05ab38f02d6bd2713fd0c0?s=96&d=mm&r=gPrepaying 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 mortgage can save you thousands of dollars in interest and…
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What’s the Point?
What’s the Point? https://www.vellummortgage.com/wp-content/uploads/2019/02/what-s-the-point-how-paying-extra-points-might-lower-your-rate-1024x536.png 1024 536 Vellum Mortgage https://secure.gravatar.com/avatar/dee8e5a47d05ab38f02d6bd2713fd0c0?s=96&d=mm&r=gYour 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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13 Mortgage Questions to Ask
13 Mortgage Questions to Ask https://www.vellummortgage.com/wp-content/uploads/2019/01/mortgage-13-mortgage-questions-to-ask-1024x536.png 1024 536 Vellum Mortgage https://secure.gravatar.com/avatar/dee8e5a47d05ab38f02d6bd2713fd0c0?s=96&d=mm&r=gHaving 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…
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Understand Your Loan Options
Understand Your Loan Options https://www.vellummortgage.com/wp-content/uploads/2018/11/understand-your-loan-options-1024x536.png 1024 536 Vellum Mortgage https://secure.gravatar.com/avatar/dee8e5a47d05ab38f02d6bd2713fd0c0?s=96&d=mm&r=gNot 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…
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Private Mortgage Insurance
Private Mortgage Insurance https://www.vellummortgage.com/wp-content/uploads/2018/09/private-mortgage-insurance-1024x536.png 1024 536 Vellum Mortgage https://secure.gravatar.com/avatar/dee8e5a47d05ab38f02d6bd2713fd0c0?s=96&d=mm&r=gPMI, 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 payments on your home loan. PMI can be arranged by…
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