Mortgage Equity Partners of Rhode Island
Providence Branch
Why a local lender is better than a mortgage broker When it comes to securing a mortgage, homebuyers often face a decision: should they go through a mortgage broker or work directly with a local lender? While both options can help you secure financing for your Rhode Island home, there are distinct advantages to …
Continue Reading about Top 6 reasons to use a local lender vs a mortgage broker
Thanksgiving and homeownership: a time for reflection, gratitude, and growth Thanksgiving is a time to reflect on what we are thankful for, to gather with loved ones, and to share in the warmth of home. For many, it's a holiday steeped in tradition—cooking family recipes, watching the parade, playing football in the …
Is now a good time to refinance? Refinancing can be a good financial move depending on several factors, such as interest rates, your credit score, and your long-term financial goals. Right now, interest rates have fluctuated due to recent changes in the economy, so the best time to refinance is when you can secure a …
What is a TBD Underwritten Mortgage Approval? A “TBD underwritten mortgage approval” is a fully underwritten loan commitment in which an underwriter provides conditional approval for a mortgage loan even before the borrower has chosen a property. With a TBD or “To Be Determined” underwritten mortgage approval, some of …
How does the Chenoa Fund work? The Chenoa Fund provides second mortgages to be used with FHA loans to cover the minimum down payment requirement when purchasing an FHA-insured home. In effect, pairing the DPA with an FHA loan requires no money from the borrower, and the entire cost of the house is financed. The …
How to finance a multifamily property Purchasing your first Rhode Island home is always a significant milestone, but what if you could also turn it into an investment opportunity? That's where multifamily homes come into play. For first-time homebuyers trying to enter the current housing market, understanding how to …
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