Why Do Mortgage Rates Change?

Published December 29, 2015 1787 Views

On December 16th, 2015 the Federal Reserve increased interest rates for the first time in a decade. But how does that effect the mortgage industry and the cost of buyinga house? The short answer is, in this latest increase, not much. The more important question is, why do mortgage rates change at al...

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Do I Need a Lawyer To Buy A Home?

Published November 25, 2015 2669 Views

There are essentially two ways to get a mortgage. The first being a "purchase money mortgage" that is obtained when buying a property; having an attorney representation is highly recommended. The second situation is a "refinance mortgage" that is obtained when you already own the...

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Thinking About Buying A House?

Published October 22, 2015 2220 Views

The Mortgage Process There are quite a few things that go on behind the scenes after you have applied for a mortgage. We thought you might like to know a bit about them: Processing During processing, the loan file is examined to ensure that all information is complete and accurate and meets t...

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How Do I Get My Credit Score on the Right Path?

Published September 29, 2015 2989 Views

In order to be pre-approved for a mortgage YOU MUST HAVE A CREDIT SCORE between 640-850. If your score is lower than this then the following actions can be taken in order to achieve this score: No late payments on any existing accounts (especially in the last 12 months). TIME HEALS EVERYTHING!...

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What's the Difference Between a Banker & Broker?

Published August 19, 2015 3231 Views

Generally speaking, you have three types of professionals to choose from when seeking mortgage financing   Retail Bank Broker Mortgage Banker Wide variety of programs Possibly Possibly Multiple investors Limited...

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Protecting Your Information From Unwanted Solicitation

Published July 29, 2015 1357 Views

A few years ago the major credit reporting agencies (Equifax, Experian and Trans Union) started a program whereby they would sell the names of people who had their credit checked (to buy a car, obtain a mortgage, etc.) to other third party entities that may provide a similar product or service. Maj...

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What NOT to do When Buying A House

Published July 1, 2015 1887 Views

We've said this before but it really bears repeating. Pay close attention and your road to mortgage financing and refinancing will go a lot smoother! If you've been approved for a mortgage it generally means you've got great credit and that lenders are eager to loan you the funds nece...

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Time is Money

Published May 28, 2015 1465 Views

The Problem As the owner of a mortgage bank, the most common complaint I hear about buying a house is the excessive amount of documentation required to obtain mortgage financing. The new laws governing mortgages and money laundering seem endless and the sheer volume of the paperwork needlessly sl...

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So You Think You Bought a House?

Published March 31, 2015 1794 Views

You find the house of your dreams, your agent writes an offer and the seller accepts it. You think you've bought a house but in some cases you have not. Your offer will have contingencies that protect you, the buyer, such as engineer's inspection, mortgage contingency, transfer of existing p...

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Premium Mortgage Named Top Workplace

Published March 28, 2015 1380 Views

Rochester, NY. -- March 27, 2015 -- Premium Mortgage is pleased to announce that it has been selected as a Top Workplace. The Top Workplaces designations are determined based solely on employee feedback. The employee survey is conducted by WorkplaceDynamics, LLP, a leading research firm on organi...

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