Lenderment Blog

30 years or 15 years? Choosing a loan term

While there are many different types of mortgages available in the market, the industry standard is a fixed-rate loan with a 30-year term. But 30 years may not always be the right term for every home buyer. Here will look at the pros and cons of a 30-year fixed-rate loan versus a 15-year fixed-rate loan. […]

Understanding why interest rates matter

Understanding how interest rates affect your monthly mortgage payment and the overall cost of your loan is a great start towards determining which mortgage is right for you. In this post, we’ll cover the basics of why interest rates change and what you need to look out for when shopping for a mortgage. Where do […]

What goes into qualifying for a mortgage

Buying your dream home often starts with being approved for a loan but what exactly goes into qualifying for a mortgage? In this post, we’ll cover the basics of what lenders look for when deciding to approve or deny a buyer’s mortgage application. Your credit score Understanding how your credit score works is the first […]

5 things you need to know about refinancing

Refinancing your mortgage could potentially get you a better interest rate, lower your monthly payments, allow you to pull equity out of your home, or help you pay off your mortgage earlier. But refinancing your mortgage isn’t always a good idea. Here are five things to think about when considering refinancing. 1 – Your reason […]

A simple mortgage guide for first time buyers

You’ve decided where you want to live, figured out how much you can afford to spend, and have started browsing real estate listings. Now, it’s time to secure your first home loan. The benefits of mortgage preapproval There are several important reasons why you should consider getting preapproved before you start shopping for homes: Know […]

How your credit score affects your interest rate

Everyone knows that having a high credit score will help you get approved for a mortgage, but did you know that good credit can lower your interest rate, too? A high credit score could save you thousands of dollars over the life of your mortgage. Here’s how it works. A snapshot of your credit history […]

How to take advantage of low interest rates

When interest rates are low, you have a real opportunity to chart a course to a better financial future. If you’re wondering how to do it, here are a few simple examples of how you can take advantage of low interest rates. Refinance your home If you already have a mortgage, refinancing at a lower […]

How is a mortgage broker different from a bank?

How is a mortgage broker different from a bank? If you’re in the market for a new mortgage, you have two primary options. You can work with a bank or a mortgage broker. There are a few important differences between these sources that you should understand. Banks typically only offer their own products When you […]