When shopping for mortgage rates, you may be asked if you want to buy down the rate. What this means is that you can pay “points” to obtain a better interest rate. A “point” is equal to one percent … [Read more...]
Broker Services
Mortgage Broker vs. Loan Officer What is the difference between a mortgage broker and a loan officer? Are you better off working with one rather than the other? While either a mortgage broker or … [Read more...]
Debt-to-Income Ratios
Debt-to-Income Ratio When applying for a loan you will often hear your mortgage adviser talk about your debt-to-income ratio. This is simply a comparison of your monthly obligations to your total … [Read more...]
Why Might You Need an Appraisal? How Do Appraisals Work?
Lenders require a professional, independent appraisal of the property you want to buy or refinance to ensure that it is worth at least as much as they are being asked to lend on it. If you are making … [Read more...]
What’s the Difference Between Pre-Qualification and Pre-Approval?
Once you begin to look for your new home, your real estate agent will probably ask you if you have been pre-qualified or pre-approved. That’s because having a pre-approval or pre-qualification will … [Read more...]
Should You Talk to a Mortgage Professional Before House Hunting?
Absolutely! Many real estate agents will actually require that you talk to a mortgage professional before you even go out house hunting. They will want to know that you have been "pre-qualified" and … [Read more...]
The Home Loan Process
What is involved in getting a loan. If you are like most people, you are probably not looking forward to the task of applying for a mortgage loan. You may have even experienced the process before … [Read more...]
Financial Planning
Mortgage Financial Planning Services: At Marimark Mortgage, we provide more than just a mortgage. We provide a complete mortgage planning strategy, which includes the following … [Read more...]
Real Estate and Mortgage Glossary
ABSORPTION RATE The ratio of the number of properties in an area that have been sold against the number available. Used to show the volatility of a market. ABSTRACTION METHOD This method of … [Read more...]
What Is a Credit Score?
In reviewing your application for a loan, two of the things that the lender will consider are your ability to repay the loan and your willingness to repay the loan. Your ability to pay the loan is … [Read more...]
