Mary Kamelle

Pre-approvals vs. pre-qualifications for home loans When you decide to buy a home in Connecticut, 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 …

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What is a 2/1 Buydown? A 2/1 Buydown is a financing technique that allows a borrower to have reduced monthly mortgage payments for the first two years of the loan term. With this option, the interest rate would be 2% lower for the first year and 1% for the second year. In the third year, the rate will go up to the …

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4 great reasons to buy a home this year People decide to buy a new home based on a variety of factors. In most cases, life events dictate the need to enter the housing market. Some common reasons include job relocation, an expanding family, a desire to move from an urban to a suburban area or vice versa, or …

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Connecticut has many rivers and beautiful coastal areas throughout its cities, towns, and tribal areas. Flooding is a part of life in Connecticut due to heavy rainfall and snowmelt during the Spring months and other times of the year. Historically, flooding has caused many federally declared disaster areas in …

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What you need to know about closing costs When planning to buy a new home saving for the down payment and applying for a mortgage are usually top of mind, but there are other costs associated with paying for a new home. Closing costs are fees that the borrower must pay to third-party vendors who provide services …

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