Lenderment Blog

How do I choose a good lender?

Finding the right lender for your home purchase or refinance is about balance. Yes, you’re looking for a fantastic rate but you also need to consider customer service, available loan options and the likelihood of being approved in the first place. Start your research Consider both offline and online options when looking for a lender. […]

The advantage of getting pre-approved for a mortgage

There’s more to getting pre-approved for mortgage than knowing that you qualify for a home loan and how much you can borrow. Here are some of the advantages to figuring out your financing options before you start to look at homes. Know how much you can afford Avoid the stress of finding a home and […]

Is a reverse mortgage right for me?

A reverse mortgage is a common tool used by homeowners to convert part of the equity in their home into cash. Also known as a Home Equity Conversion Mortgage (HECM), in some cases the payments may be tax free. The history of reverse mortgages Reverse mortgages were originally created to help senior citizens on fixed […]

Understanding mortgage amortization

Learning how the amortization of a mortgage works can help you understand where your monthly payment is going and potentially allow you to pay off your loan earlier. What is amortization? Amortization is the process of spreading a loan out into a series of fixed payments over a period of time. When you apply for […]

Your mortgage as a tax deduction

If you are a homeowner, you likely qualify for one or more mortgage interest tax deductions. In this post, we’ll share the basic framework to determine if you could lower your tax burden by writing off the interest on your mortgage for your primary residence. Note: This article is for information only and is subject […]

How Do Home Appraisals Work?

A home appraisal is the process of determining a home’s true value. In this post, we’ll talk about why home appraisals exist and explain the process for how a licensed appraiser determines the value of a home. Protecting the interests of the lender Most appraisals are ordered by mortgage lenders as part of the approval […]

How is a mortgage different for a second home?

How is a mortgage different for a second home? Thousands of Americans purchase a second home every year and more than half of all second homes in the United States are financed with a mortgage. In this post, we’ll cover what’s different about a second home mortgage and discuss strategies that make owning another property […]

6 Benefits of Using a Mortgage Broker

Six benefits of using a mortgage broker A qualified mortgage broker is a financial services professional who can originate, negotiate, and process residential and commercial real estate loans on your behalf. They can help you get a better deal or help you solve complex financing issues. Here are six benefits to working with a mortgage […]

Avoiding Red Flags During the Mortgage Approval Process

Avoiding red flags during the mortgage approval process Want to increase your chances of getting approved?  Here are some tips on what you should, and should not do during the home loan approval process. Do keep up your credit rating It’s best to assume that your lender will pull your credit score while your loan […]

What’s the difference between a conforming and non-conforming loan?

When shopping for a new mortgage you may have heard the terms “conforming” and “non-conforming.” Here’s a simple explanation of these terms and the advantages of each type of loan. Conforming versus non-conforming A conforming loan is a mortgage that meets the qualifications to be purchased by either Fannie Mae or Freddie Mac. A non-conforming […]