Understanding home loan basics Do you know what a mortgage is? There are a lot of moving parts when it comes to getting a home loan, but do you really know what each term means and how it impacts you as a homebuyer? Understanding the basic terms in advance can make the process less stressful …
How to get the best mortgage rate
8 tips for getting the best interest rate on your mortgage When it comes to buying a home, securing the best mortgage rate can lead to substantial savings over the life of your loan. A mortgage is a legal agreement between a borrower and a lender that provides the borrower with the funds needed to …
MEP’s Advantage DPA Program is ideal for home buyers
What is the benefit of down payment assistance? DPA is one of the best tools homeowners have in today’s market to make homeownership more affordable. These programs provide a possible solution to help homebuyers who need financial support. With a shortage of affordable housing across the country, these programs are more important than ever to …
RIHousing $20k Extra Assistance Loan
RIHousing Extra Assistance Loan: up to $20,000 Buying a home in Rhode Island just got easier! RIHousing’s Extra Assistance Loan (EAL) is now available, offering significant financial support to Rhode Island homebuyers. The EAL program guidelines make homeownership in Rhode Island more affordable, opening a world of opportunity for first-time homebuyers. The Extra Assistance Loan …
What is a home appraisal?
What is a home appraisal? A home appraisal is an objective opinion of the home’s value performed by a licensed professional. Since the appraisal is related to the home value and loan amount, it can impact your loan’s down payment and interest rate. An appraisal that comes in too low can cause the transaction to …
How can I get a fast home loan or mortgage?
How can I get a fast home loan or mortgage? To increase your likelihood of getting a fast home loan or mortgage approval, you should prepare to show yourself as creditworthy and financially stable in advance. Getting a mortgage is a major decision, and in today’s market, you may need to be ready to make …