The Blog
Vermont Prebate & What it Means at the Closing Table
If you are buying a home in Vermont you might find your purchase impacted by a tax prebate. Understanding what a Vermont tax prebate is, and how it can affect your home purchase can help you avoid surprises during the buying process. What is a Vermont Tax Prebate The...
Buying a Home in Lebanon, NH: Tips for Success
Lebanon, NH is the largest town in the Upper Valley with roughly 15,000 residents. It is also the only city in the Upper Valley. The real estate market in the Upper Valley has been challenging for many home buyers over the past year with high demand and limited...
Save Big on VA Home Loans
The U.S. Department of Veteran Affairs (VA) has announced that they are reducing the funding fee on VA loans. The fee change will impact VA loans that close after April 7, 2023. Purchases, construction loans and cash out refinances backed by the VA will all benefit...
FHA Mortgage Insurance Changes: Save $800 a Year
The Department of Housing and Urban Development (HUD) together with the Federal Housing Association (FHA) has made an announcement that will dramatically change the mortgage insurance premiums (MIP) that will be charged to a buyer with an FHA mortgage. According to a...
Credit Reporting: Changes to Medical Debt Collections
Medical Debt and Credit Reporting According to a report published by the Consumer Financial Protection Bureau, millions of Americans are carrying an estimated $88 billion in medical debts. These medical debts are from bills that have entered delinquent status and many...
Mortgage 101: Navigating Divorce
When a marriage ends in divorce it can be an emotional and complicated time. According to the CDC 34% of married women over 20 years old and 33% of married men over 20 years old have been divorced. The decision to end a marriage is the first of many that need to be...
2023 Loan Limits Announced
What are Loan Limits? Loan limits are set by the Federal Housing Finance Agency (FHFA) and they determine the maximum amount of cash a homebuyer can borrow and obtain a conforming loan. Loan limits apply to both Fannie Mae and Freddie Mac which are two government...
Legacy Mortgage: Now Licensed in Maine
Legacy Mortgage Announces Maine License Legacy Mortgage is proud to announce that they have obtained their company mortgage loan originator license in Maine. Maine is the most recent state the mortgage company will now offer their lending services. They are currently...
Escrow 101
What are Escrows? When you are buying a home you will hear escrows discussed throughout the loan process. By definition an escrow is when money is held by a third party until it needs to be used to complete a certain condition. During the home buying process deposits...
Adjustable Rate Mortgages – Why They Might Be Perfect For You!
An Adjustable Rate Mortgage (ARM) is often viewed cautiously by borrowers shopping for a loan product. An ARM product does come with some variables that can make people nervous. However if you are shopping for a home in today's market it is wise to evaluate all the...
PMI: The Who, What, When, Why & How
Historically it has been believed that you need a 20% down payment to buy a home. This qualification can be limiting to say the least and with home prices on the rise it can seem nearly impossible to save up that size down payment. Thankfully today home buyers can...
Waiving Real Estate Contingencies: What You Need to Know!
A common practice in today's competitive real estate market has been to waive real estate contingencies when making an offer on a home. This can be an appealing thing to do to make your offer more attractive to the seller. However it is imperative to understand the...
Competing with Cash Offers – The Do’s and Don’ts
If you've been keeping an eye on the real estate market recently you are well aware of how competitive it is. In fact, many home buyers are struggling to get their full price offers considered at all. It seems that in the Upper Valley, if you aren't paying over asking...
Preapproval vs. Prequalification: What You Need to Know
If you've ever shopped for a home you have likely heard the term prequalification or preapproval. This is an endorsement provided by a lender to show that you have a strong enough financial profile to be able to buy the home you made an offer on. It's basically a...
4 Tips to be a Competitive Buyer in the Upper Valley Real Estate Market
If you've been keeping an eye on the real estate market recently you are well aware of how competitive it is. In fact many home buyers are struggling to get their full price offers considered at all. It seems that in the Upper Valley, if you aren't paying over asking...