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Should You Lock In a Mortgage Interest Rate or Let it Float?

Posted in FAQsPosted by Maple Tree Funding

When you first start looking into obtaining a home mortgage, you will likely be quoted a simple mortgage interest rate that is generally available at the moment. It is important to realize that this does not guarantee that your mortgage will be at that rate. Until you have progressed further in the loan process and have decided to ‘lock in’ that rate, things can still change. What is a Mortgage Interest Rate Lock? A mortgage interest…

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Why You Should Have a New York VA Mortgage If You Are an Eligible Veteran

Posted in Government MortgagesPosted by Shane Latza

When it comes to securing a mortgage, there are many loan products available. In some cases, homebuyers are eligible for a number of loan types, giving them a few options to choose from when it comes to financing a new home. Unfortunately, when it comes to VA loans, many qualified veterans do not find out they were eligible until they’ve already committed to another type of home loan. Choosing a Home Loan Product – Are You…

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What Mortgage Program Should I Apply For?

Posted in First Time HomebuyersPosted by Shane Latza

There are many mortgage programs available to homebuyers and trying to find the best match on your own can be difficult to do. So with all of the various programs and lenders that are willing to offer you credit, how do you decide which program works best for you? That’s where a Mortgage Broker comes in! Working With A Mortgage Broker to Choose A Mortgage Mortgage brokers have access to dozens of lenders, each having their…

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How Much Do I Need for a Down Payment on a House in New York State?

Posted in First Time HomebuyersPosted by Maple Tree Funding

One of the most common questions we receive from potential homebuyers is “How much do I need for a down payment on a home?” For first time homebuyers and experienced homebuyers alike, this question is an important one. The answer will influence how much they are able to spend on a house and, in some cases, whether or not they can purchase a home at all. Do I Need to Put 20% Down To Purchase…

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How Do Mortgage Lenders Determine Your Qualifying Credit Score?

Posted in FAQs, First Time HomebuyersPosted by Shane Latza

In a typical mortgage application scenario, a home buyer will have 3 credit scores: one from TransUnion, one from Equifax, and one from Experian. If you’re applying for a mortgage, it’s important to understand your credit score and know which of the 3 credit scores provided will be used to determine your mortgage eligibility, as the numbers can vary significantly. Keep in mind that lenders will typically choose the middle credit score to use when determining your…

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