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May 2019

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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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 payments on your home loan. PMI can be arranged by…

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Before You Make An Offer, Here Are 4 Tips For Success!
Before You Make An Offer, Here Are 4 Tips For Success! 150 150 Vellum Mortgage

With these four tips in mind you will be better prepared to make a successful offer. Understand How Much You Can AffordWhile it’s not nearly as fun as house hunting, fully understanding your finances is critical in making an offer. This ‘tip’ or ‘step’ should…

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