Mortgage rates change a lot. They can move up or down throughout the day. They can be subject to many things, from the Federal Reserve (The Fed) announcing a rate increase to events occurring in the US or worldwide. You may have a conversation with your loan officer today only to learn that the rate …
Pre-approvals vs. pre-qualifications for home loans
A look at pre-approvals vs. pre-qualifications for home loans When you decide to buy a home, it’s important to understand the difference between a pre-approval and a pre-qualification. For example, a pre-approval at Mortgage Equity Partners involves an underwriter evaluating your credit history, income, and assets and issuing a loan commitment letter stating the amount …
How to save money with a VA loan
Buying a home can be a complicated and expensive process, especially if you’re a first-time home buyer or a Veteran. Fortunately, if you are a Veteran or a surviving spouse of a Veteran, you might be eligible for a VA loan. With a VA loan, you can purchase the home of your dreams with zero …
How do Down Payment Assistance programs work?
Down Payment Assistance programs help first-time homebuyers Down Payment Assistance programs, or DPAs, help first-time homebuyers cover some of the costs associated with a down payment and upfront closing costs. When purchasing a home, you typically need to put money down equal to a percentage of the home’s final sale price. This is called the …
Spring 2023 best home mortgages for saving money
The best mortgages for saving money this Spring, 2023! The reasons for purchasing a new home are personal for every homebuyer. Many potential homebuyers have been waiting to make a move recently due to rising interest rates and high home prices, but life goes on. Homeownership still makes sense in many cases, even with increased …
MEP’s Rate Protection Program is a win-win for borrowers!
Get off the sidelines and look for your new house! Homebuyers are on the fence today about whether to enter the market or stay put. First-time homebuyers who are still renting hope rates and prices will come down. Now that we are entering the spring homebuying season and none of those things have happened, lenders …
