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Does it make sense to refinance again even though I recently obtained a mortgage loan?

It may very well make perfect sense!  Consolidating your existing first and second mortgages, outstanding credit card balances and other debt into a single low interest mortgage payment can save you a considerable amount of money each month and will also save you time since you'll have only one monthly payment to deal with. We can help you determine if this option will work for you.

How much can I afford in mortgage payments?

It depends entirely on your specific personal financial situation. We can help you find out exactly what that amount may be. For a quick estimate, use the Mortgage Calculator.

How does an interest rate lock work?

An interest rate lock provides an opportunity for you to arrange and complete your mortgage and real estate transaction without having to worry about rates increasing before closing your loan. Without locking, should interest rates increase before you close on your home, you may not be able to afford or qualify for that very same loan. 

Why do I need (private) mortgage insurance, MI or (PMI), if my down payment is less than 20%?

Mortgage insurance was created to allow consumers to purchase a home without a large down payment. Many homebuyers do not have savings or reserves equal to 20% of the value of the home they wish to purchase. Lenders do not like to lend money at low interest rates for more than 80% of the home value because of their need to be protected in the event of default or foreclosure. They want protection against decreases in the home's values and to be able to sell the property quickly, recouping their loan amount. In addition, borrowers who have at least 20% equity in their homes default less often than borrowers with less equity. Mortgage insurance assumes the lenderís risk on a loan amount above 80% of the home value. Mortgage insurance has provided more people the ability to purchase homes at low interest rates by decreasing the risk to lenders.


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