Mortgage

Mortgage Education

VA Loans: What to Know and How to Apply
VA Loans: What to Know and How to Apply 1024 536 Vellum Mortgage

The VA loan is arguably one of the best incentives tied to military service. Despite being an incredible home-purchasing tool, many of those eligible to utilize it are not aware of all of its benefits and how they work. The VA loan could make the…

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Mortgage Relief: What Is Forbearance?
Mortgage Relief: What Is Forbearance? 1024 536 Vellum Mortgage

The stress of a looming mortgage payment can feel crushing when finances take a downturn. In response, many homeowners begin searching for relief options until they can get back on their feet. Forbearance is a possible solution, but is it best for your situation? We’ll…

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How Do Interest Rates Affect My Purchase Power?
How Do Interest Rates Affect My Purchase Power? 1024 536 Vellum Mortgage

Nothing affects a home’s affordability more than interest rates. After all, we live with the monthly payment, not the amount of the loan. The higher your mortgage rate is, the higher your monthly payments are going to be. Buying power, simply put, is the amount…

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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…

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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…

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Conforming & VA Loan Limit Changes for 2020
Conforming & VA Loan Limit Changes for 2020 1024 536 Vellum Mortgage

FHFA Announced Increase in Conforming Loan Limits for 2020 The Federal Housing Finance Agency announced that it is raising the conforming loan limits for Fannie Mae and Freddie Mac to more than $510,000. In most of the U.S., the 2020 maximum conforming loan limit will…

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Happy Veterans Day
Happy Veterans Day. Thank You for Your Service.
Happy Veterans Day. Thank You for Your Service. 1024 536 Vellum Mortgage

$500.00 Lender Credit for Veterans1 You served our country. Now it’s time for us to serve you. We are proud to offer a $500.00 lender credit at settlement to any qualified Veteran, active duty U.S. Military member, Reservists and National Guard member who locks a…

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101% Financing, No Mortgage Insurance
101% Financing, No Mortgage Insurance 1024 536 Vellum Mortgage

101% Yours. 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 sales price, meaning…

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What is mortgage insurance and how does it work?
What is mortgage insurance and how does it work? 1024 536 Vellum Mortgage

Mortgage insurance lowers the risk to the lender of making a loan to you, so you can qualify for a loan that you might not otherwise be able to get.  Typically, borrowers making a down payment of less than 20 percent of the purchase price…

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How a 20-year home mortgage can save you money
How a 20-year home mortgage can save you money 1024 536 Vellum Mortgage

The 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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