Mortgage Brokers in Fort Myers
Introduction It is not easy to choose a mortgage especially for first time home buyers. This task proves to be very important since mortgage brokers act as middlemen between the borrowers and the lenders. We are a mortgage brokerage firm with the ability to offer superb services in Fort Myers that is why at Primary […]
Understanding Home Equity Loans in Fort Myers
Introduction Home equity loans are one of the most useful financial products for homeowners in Fort Myers who want to use the property’s value. As a company, at primary residential mortgage we want to educate our clients on how they can use home equity loans to meet their objectives. In this article, the reader will […]
Benefits of VA Loans in Fort Myers for Veterans
Introduction Veterans in Fort Myers often find it a challenge to secure a home to live in. Thankfully, there is a VA loan, which provides a special and favorable way for those, who served our country, to become homeowners. Primary Residential Mortgage is focused on assisting veterans in learning about or taking advantage of these […]
Avoiding Causes of VA Loan Application Denial
For military service members, veterans and often their spouses, the VA loan program is one of the most beneficial mortgage programs out there. Backed by the US Department of Veteran’s Affairs, these loans help reward members for their service to our country with limited or no down payments, no mortgage insurance requirements and fantastic interest […]
Could a Reverse Mortgage Be a Good Option for You?
What is a Reverse Mortgage? A reverse mortgage is a type of home equity loan for homeowners who are 62 years or older. It allows borrowers to access a portion of the home’s equity and uses the home as collateral. Generally, the loan doesn’t have to be repaid until the last surviving homeowner passes away […]
Mortgage Rate Lock: Costs, Expiration and Lender Assistance
In part one of this two-part blog series, we went over some basics on mortgage rate locks for those buying a home. A mortgage rate lock is an offer from a mortgage lender to a buyer to prevent their interest rate from rising between their loan application and closing date, and it’s often useful for […]
Financial Perks of First-Time Homeownership
If you’re thinking of entering the home market for the first time, there’s no question there are some challenges ahead of you. Being a first-time homebuyer comes with several new experiences to navigate, which is part of what the professionals at Primary Residential Mortgage are here to help with. We are a trusted local mortgage […]
Conforming Versus Non-Conforming Mortgage Loans
You’ll hear many new terms if you’re entering the mortgage and homebuying world for the first time, and one such term will be “conforming loan limit” and similar variations. There are a wide variety of mortgages out there, all of which either meet or don’t meet various standards that define a “conforming loan.” At Primary […]
Pre-Qualified or Pre-Approved What is the Difference?
Overview If you’re looking to buy property, you’ve probably heard that you should get pre-qualified or pre-approved for a mortgage. These two are the key steps in the mortgage-application process. Pre-qualifying is the first step which gives you an idea of how much of a loan you’ll likely qualify for while pre-approval is the second […]
How Down Payment Gifts Work
Confident real estate agent holding your new house keys and smiling at camera For many people, the most stressful or worrisome part of mortgage loans is the down payment. A standard home loan will come with a down payment requirement that may be up to 20 percent of the principal loan amount, and this can […]