refinance

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 provides. However, a 30 year term can be really long…

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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 a buyer, owner or seller, you’ll want to understand how…

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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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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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Understanding Cash-Out Refinances
Understanding Cash-Out Refinances 1024 683 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 refinance, you’re refinancing your mortgage for more than you currently…

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