Tips

What Are the Pros and Cons of a USDA Loan?

USDA Loans require no down payment and offer low-interest rates. Backed by the U.S. Department of Agriculture, these loans are extended to low- and moderate-income families looking to purchase a primary residence in a rural area.  Specifically, USDA Loans began when the U.S. Department of Agriculture introduced the Single Family Housing Guaranteed Loan Program in…
local lender

What is Upfront Mortgage Insurance?

Navigating the ins and outs of the mortgage process can seem overwhelming. If you’re unfamiliar with home loans, the best thing you can do is educate yourself. A better understanding of the process will help you feel confident, making it the overall endeavor less stressful.  Upfront Mortgage Insurance might be one of those aspects of…
monthly mortgage

Understanding Your Monthly Mortgage Payment

Your monthly mortgage payment comes due each month, but do you really understand where your money is going and what it’s being applied to? Knowing how your money is being applied and what it means for your overall financial health is really important.  Every monthly mortgage payment might look different, but they all have these…

The Power Of Choice When Refinancing A Mortgage

Refinancing your mortgage can help you get a better interest rate and save money in the long run. To get the best possible interest rate, you’ll need to shop around and compare rates from a number of different lenders. Even if your current mortgage lender is offering refinancing, they might not actually provide the best…
local lender

The Value Behind Using Local Lenders

It’s hard to miss national lenders and big banks and overlook local lenders. They’ve got the marketing money, the brand recognition, and the connections to make the biggest splash across multiple markets.  But big banks aren’t always better than local lenders.  When it comes to finding the right lender for you, more often than not…
mortgage loan

I’m Ready to Apply for a Mortgage Loan! What Documents Do I Need?

Buying a home is one of the most exciting purchases you’ll ever make. It’s easy to get caught up in the excitement and forget documentation that you might need to get to the point where you are signing on the dotted line.  Documents prove your identity and provide your financial history so that your lender…
down payment

A Guide to Understanding Down Payments

First-time homebuyers often struggle to wade through the terminology and overcome the contractual hurdles that come between them and holding a “SOLD” sign in the front yard. Real estate agents, inspectors, and local lenders all want the same thing you want: for you to close on your new home. At First Lenders we are committed…
Buy Home

Can I Afford to Buy a Home?

One of the best investments that you can make towards your own financial security and independence is purchasing a home. Buying your own home allows you to build equity and develop a sense of independence, but, for many first-time home buyers, knowing whether or not they can afford a mortgage is difficult to determine.  Buying…
refinance your mortgage

4 Questions to Ask Yourself Before You Refinance Your Mortgage

When interest rates drop there’s always a greater focus on refinance options. If you are currently paying a mortgage and considering refinancing, there are a number of questions that can help you determine if refinancing is right for you.  Refinancing your home can save you thousands of dollars, but it’s only helpful if it improves…

The Ultimate Home Buyer Checklist

Buying a new home is a very exciting step in your life, but it can also be very overwhelming. There’s so much to do before you purchase your home, and it’s important to be prepared to ensure that the process runs smoothly. We’ve compiled the ultimate home buyer checklist to help you as you get…