Learning About Various Down Payment Options
For many homebuyers, particularly those going through the process for the first time, the down payment can be one of the biggest sources of stress. This lump sum, paid upon closing as a percentage of the principal loan amount, is generally the largest single figure you’ll pay during the home loan process, and some people […]
Credit Score Changes | Primary Residential Mortgage Fort Myers
When you’re searching for mortgage loans, one of the most important single factors in your search will be your credit score. This score in large part dictates the kind of mortgage rates you can get, and also has a huge effect on the loan programs you’ll qualify for. At Primary Residential Mortgage, we have loan […]
Basic Steps of the Mortgage Process
A house on top of a table with mortgage application form, calculator, blueprints, etc.. For many people, especially those entering the market for the first time, looking for mortgage loans can be an intimidating process. There are several steps along the way that you have to navigate properly, and some people are unsure of certain […]
Mortgage Rate Lock: Basics, Float-Down and Timing
As those who have been in the mortgage market in the past are well aware, this market fluctuates significantly over months, weeks and even days. Changing rates as you negotiate and search for a home are something buyers definitely have to keep in mind, and one tool that’s sometimes offered by lenders to mitigate this, […]
Understanding Verification of Rent for First-Time Homebuyers
There are a few elements of certain mortgage situations that are unique to first-time homebuyers, and one such element is known as a verification of rent. Often used for people who do not have a significant credit history, but also simply required for first-timers by some lenders, verification of rent is a process used to […]
Basics on Biweekly Payments
If you’ve recently taken on a mortgage, one of your top questions will likely relate to how quickly you can pay it off. As one of the largest financial expenses of your life, this kind of questioning is entirely logical. At Primary Residential Mortgage in Fort Myers, we can help with all such questions related […]