Lenderment Blog

7 mortgage myths

Don’t let mortgage misinformation prevent you from becoming a homeowner. Here are seven common mortgage myths. You need to put 20% down The average down payment today is only around 10% and many home buyers pay less. While there are certainly advantages to putting 20% down, such as avoiding PMI, lower mortgage payments and potentially […]

How to make your best offer in a seller’s market

Putting your best foot forward in a hot real estate market can make the difference between having your offer accepted or missing out. Here are some tips to help you stand out in a sellers’ market without putting your personal finances at risk. Get pre-approved Knowing how much you can afford to spend is key […]

Renovate or move?

Sometimes, the home you once thought was perfect no longer matches your wants or needs. If your current home just isn’t working, you have a choice. You can either renovate, or sell and move. In this post, we’ll explore these two options and the things you’ll want to consider before making a final decision. Top […]

Can you trust mortgage calculators?

If you’re in the market to buy a new home or refinance your current one, you’ve probably used a mortgage calculator to get a better idea of what your monthly payment might be. In this post, we’ll discuss what mortgage calculators do well and where they sometimes miss the mark. Fast and easy results Using […]

What is a digital mortgage?

Borrowers seeking a new mortgage in 2021 have more options than ever before. In this post, we’ll cover what a digital mortgage is and some of its benefits. 100% online A digital mortgage is exactly what it sounds like. It’s a home loan you can apply for, be approved for, and sign for, 100% online. […]

Fannie Mae to consider rent history for first-time homebuyers

Trying to get into your first home but worried about your credit history as a lifelong renter? Here’s some great news! For first-time homebuyers The program is designed to target first-time homebuyers who need a little help qualifying for a mortgage due to having very little credit history. So, to have your rent payments included […]

What kind of mortgage can I afford?

Figuring out which kind of mortgage you can afford is an important step in purchasing your next home. In this post, we’ll cover the steps needed to find out how much you can afford and run through some of the common mortgage types. Write out a detailed budget Before you talk to a lender about […]

What is the first-time homebuyer tax credit?

If you’re a first-time homebuyer in the market for your very first home, you might have heard about the $15,000 tax credit introduced in the First-Time Homebuyer Act of 2021. In this post, we’ll talk about how the credit will work if the bill gets through Congress. At the time of writing, the First-Time Homebuyer […]

What to do when your loan application is denied

Being denied for a mortgage can be upsetting, but it doesn’t have to be the end of your home loan search. Here are some simple things you can do to be better prepared the next time you put in a loan application. Find out what went wrong The lender will usually tell you why your […]

Tips for negotiating your loan origination fee

What is a loan origination fee? A loan origination fee is the upfront fee from the lender charged for putting together, processing and approving your mortgage. This is part of how lenders make money. Origination fees are typically 1-2% of the total value of your loan and this amount is included as part of your […]