Lenderment Blog

Documents you’ll need for your mortgage

To make the process of applying for a mortgage less stressful, you can get your paperwork together before it’s time to submit your documents. Note that if you have multiple applicants, you’ll likely need the relevant documents for each person.   W-2s You will need the most recent W-2 forms for all your current employers. […]

Payment history and your credit score

Having a solid payment history is fantastic for boosting your credit score. In this post, we’ll cover what your payment history entails and what you can do to make sure yours looks strong. What is your payment history? Your payment history is the record of all your past payment information for all your credit accounts, […]

Tips for negotiating your interest rate

You might think it’s impossible to negotiate your interest rate with mortgage lenders but with the right strategies and due diligence, you may have more leverage than you think. Shop around In any price negotiation, you need leverage. In the case of a mortgage, you need competing offers. The good news is that getting competing […]

How to read a loan estimate

Shopping around for a new mortgage can be a great way to save money but you’ll need to learn how to properly read a mortgage loan estimate. What is a loan estimate? A loan estimate is a three-page document that tells you everything you need to know about a prospective mortgage, including upfront costs, fees, […]

Questions to ask when applying for a home loan

Whether you’re purchasing a new home or refinancing your current home, finding the right mortgage to match your personal situation will benefit your finances for years to come. Here are ten important questions to ask your mortgage broker before making a final decision. Which type of mortgage is best for me? Never presume that you […]

A simple guide to mortgage terminology

The decisions you make when choosing your mortgage will impact your financial situation for years to come. Understanding the most common industry terms can help make sure you understand the ins and outs of your new loan. Here are some common terms. Adjustable rate mortgage An adjustable rate mortgage is a type of loan where […]

Top 5 FAQs asked to mortgage brokers

For many homeowners or home buyers, the idea of working with a mortgage broker is a new concept. It’s only natural that you might have a few questions. Here are answers to five of the most frequently asked questions. Why should I use a mortgage broker? Just like anything else you shop for, having more […]

8 great reasons to purchase a home

Buying a house is a big decision, so it’s only natural to give the idea a lot of thought before making a final commitment. Here are some of the biggest reasons why homeowners love owning their own home. Pride of ownership One reason people choose to purchase their own home has nothing to do with […]

Is it time to review my home loan?

Refinancing your mortgage is a common financial strategy. As your life changes, it just makes sense that what you need from your home loan might change, too. Look out for the following signs that it’s time to review your mortgage. Interest rates are low Attractive interest rates are one of the major reasons why homeowners […]

How much down payment do I need?

If you’ve been saving to purchase a new home, you are likely wondering how big of a down payment you need. While the final answer depends greatly on your own personal goals and situation, here are some guidelines that can help you plan. The old 20% rule A 20% rule of thumb has been around […]