One of the major barriers to homeownership for first-time homebuyers is their limited credit background. It takes time to establish a full credit history, and only certain types of regular payments, like auto loans, student loans, credit card payments mak
Aug 25, 2022 | Purchasing a Home
If you live in one of our nation’s pricier areas or if you want to buy a home significantly above the median price for your area, you’ll probably need a jumbo loan. If you’re not familiar with these types of mortgages, here are some of the frequently aske
Aug 23, 2022 | Purchasing a Home
Here are the rates for today, August 19, 2022 at Bainbridge Lending Group: 30 Year Fixed Conforming: 5.125% (5.233% APR) 15 Year Fixed Conforming: 4.625% (4.785% APR) 7/6 Jumbo ARM: 4.875% (4.692% APR) 30 Year Fixed Jumbo: 4.875% (5.008% APR)
Aug 19, 2022 | Interest Rates Fixed Rate Mortgages Adjustable Rate Mortgages Mortgage Jumbo Loans
If you have recently bought a home, you may have heard your closing agent mention something about a prepayment penalty. This idea might have seemed strange. Why would there be a penalty for paying off your loan ahead of schedule? Here’s what you need to k
Aug 18, 2022 | Purchasing a Home
Once you find the perfect house and your offer is accepted, it is time to turn your attention to lining up the financing. If you’ve never applied for a mortgage loan before, or if it’s been many years since your last home purchase, the process of collecti
Aug 16, 2022 | Purchasing a Home
One of the new terms you’ll hear as a first-time home buyer is “escrow.” If you’re unfamiliar with this word, here’s everything you need to know about escrow accounts and how they work. A Definition An escrow account, also known as an impounds account, is
Aug 11, 2022 | Purchasing a Home