Mortgage Equity Partners | Laurel, MD Branch
Home Loans, Mortgages, Refinance, Home Equity Loans
What determines the interest rate on your mortgage? MANY factors come into play when determining what your interest rate will be on your mortgage. These factors include, but are not limited to, current market conditions that can change DAILY, credit score, how much you are putting down on the purchase price (down …
Continue Reading about Is it worth it to pay discount points?
What impact can a credit pull can have on your credit score? There is a lot of misconception about the impact a credit pull can have on your credit score. Credit pulls are categorized as Hard Credit Pulls and Soft Credit Pulls. You might choose to have a soft pull to avoid any effect on your credit score. Soft pulls …
Continue Reading about Hard or soft credit pull. What is the difference?
A 2/1 buydown loan is a loan with a reduced payment for the first two years of the loan, and then the third year of the loan, the payment will rise to its note rate. So, you get a lower mortgage payment during the first two years. The 2-1 buydown program has been very popular with borrowers in Maryland, where home …
Continue Reading about What you need to know about how a 2-1 buydown works
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