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Whether you set up a formal arrangement with your lender for biweekly payments or simply take steps to send in extra money each month, taking steps to modify the way you make payments can help you save. Which option is right for you and what steps can you take to reduce the amount you send over the life of your mortgage and give you the best possible return on your investment? Paying biweekly, adding extra money each month or even paying an extra payment each year – which method is right for you? A look at our online mortgage payment calculator that compares monthly and bimonthly payments and these tips will help you decide. Add a Bit Each Month Every dollar you send in over the mortgage amount can reduce your principal and reduce the length of your loan, assuming you will not suffer penalties for pre-paying. Even rounding up to a whole dollar amount each month will have an impact; just be sure to specify that the lender should use the extra money on the principal amount. Make an Extra Payment Each Year

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    ICYMI: Why iServe is Feeling "Bullish" iServe Recognized in Rob Chrisman's Daily Mortgage News & Commentary

March 14, 2017 -  Looking for some good news? This is from Ralph DellaCamera, Chairman of Stamford, CT and San Diego, CA-based mortgage holding company National Asset Direct and its iServe Subsidiaries. Checkout this timely and informative video entitled "

If you're a first time homebuyer, the process of financing a home probably feels more complicated – and less fun – than shopping for one. Residential home loans come in all shapes and sizes, and securing your first mortgage can feel intimidating – but it doesn't have to be. Follow these steps to get the right home loan for your situation, and you'll be ready to move in before you know it. 1. Start Early Believe it or not, it's best to start the home loan application process before  you start shopping for your house. Residential home loans take time to approve, but you want to have proof that you're eligible for a loan when you make an offer on your dream house. This will show the seller you're serious and can give you an edge in a competitive market . 2. Know Your Budget

Sit down with a loan officer to discuss your needs and get pre-qualified for your first mortgage. This is an especially important step for a first time homebuyer, ...

Dreaming of owning a home? It may seem impossible to save for a down payment considering the average Millenial’s salary! But home ownership is more accessible than you may think. Depending on the loan product you choose, the amount you’ll need to save will vary; our innovative online mortgage tools can help you figure out how much you’ll need. Saving money for a down payment allows you to secure the mortgage loan you need to get the home you’ve been dreaming of. Here are our tips for young or first time homebuyers: Determine How Much You Need

You need a target! Contact iServe or use an online mortgage calculator to determine how much to save. Our innovative online tools can help you calculate how much you can afford to spend, and the mortgage product you are interested will play a role as well. For a conforming mortgage, you might want to save up to 20 percent of the purchase price, (that could be a lot of dough); choose an FHA, and you might pay as little as 3.5 percent. If you are a U.S. Armed ...

  Just When You Thought You Couldn’t Afford a House. Video on Market Data Suggests Compelling Case for Growth in 2017 in Housing and Mortgage Markets By Michael Macari   February 25, 2017.   Despite the negative news that has permeated the media ever since the election regarding affordability of housing, Ralph DellaCamera is extolling an entirely different point of view. And it’s an educated one, based on concrete- and external - data and evidence.

 DellaCamera, Chairman of mortgage holding company NAD and its iServe subsidiaries, belies pundits and analysts who are spreading fear about the housing and mortgage markets. He not only believes they are cooking up unnecessary fear and trepidation, ...

              Why Not? Advocating the Full Benefits of Veteran’s Home Ownership                iServe’s McDade Commits a Lifetime to Educating Realtor and Vet Alike By Michael Macari Stamford, CT, February 24, 2017  

Much has been written about America’s love affair with its veterans. We salute them in airports, enthusiastically sing the National Anthem with them at sporting events, pick up their lunch checks, and “thank them for their service” when in their presence (which, incidentally, most vets would ...

  So you want to buy your first house… By Brent Nyitray, CFA   Purchasing a home is daunting for everyone, especially for the first-time homebuyer. How much house can I afford? How much of a down payment do I need? How good must my credit be? What are closing costs? What are points? This article will attempt to address some of the biggest questions the first-time homebuyer typically has.  

How much house can I afford?   Lenders use a formula called the debt-to-income ratio to determine how much you can afford to borrow. They will examine your current obligations (like student loan debt, any car loans, or credit card debts) with your prospective mortgage payment and divide that by your monthly income. As ...

How to Refinance Your Home

Feb 22
Category | The iServe Blog
How to Refinance Your Home Or, A Million Reasons to Tap the Financial Strength of Your Home   By Michael Macari   February 22, 2017. If you’ve been sitting on the financial sidelines the past several years, chances are you’ve thought about refinancing your existing mortgage. After all, refinancing has something to offer to virtually everyone. From first-time Millennials, to family-raising Boomers, to retirees, refinancing offers a plethora of solutions to the financial needs of homeowners throughout their lives.

Regardless of your station and place in life, most American homeowners contemplate- or need- the equity in their ...

Looking to buy your first home? We’ve collected some great advice on getting started, from our mortgage payment calculator to our common-sense affordability tips. Using the tips outlined here will help you look for your new home and make it easier for you to get the right mortgage for your home and financial situation. As always, contact us for help with your specific needs; these guidelines can help you as you begin your search for your first or next home. Explore Your Options While a 30-year mortgage works for many of our clients, other products can help you afford your new home and may be a better match. VA loans are soaring in popularity with our clients and across the nation, because of their flexible credit guidelines and greater affordability, while others find their perfect match in a shorter-term 15-year loan or even an FHA-backed loan. Work With Real Numbers

How much can I afford? It’s one of the questions we’re asked most frequently!

When you’re buying your first home, the loan application process can seem very complicated. Among the many options you have to choose from are FHA home loans. But what is an FHA loan? How can you qualify for these loans, and what does it mean for your mortgage options? We know you have questions, so we’ve taken a few minutes to give you the basics as to how FHA home loans can be a real benefit when you’re buying a home. What Is an FHA Loan? One of the most common questions we get from new homebuyers is: What is an FHA loan? Though there’s a lot of information available about FHA home loans, it’s often contradictory. This is especially true when you’re looking at information that dates prior to 2008 when the housing market crash caused many new regulations to be put into place.

FHA home loans don’t actually come from the Federal Housing Administration; they’re simply insured by that agency to help homeowners who may have less-than-perfect ...

Praise for iServe's VA Tour

Feb 7
Category | The iServe Blog
      ICYMI: Praise for i Serve's VA Tour i Serve Recognized in Rob Chrisman's Daily Mortgage News & Commentary February 7, 2017 - iServe Residential Lending's nationwide VA specialist, John McDade, is taking iServe's 2017 VA Tour on the road, with the goal of demonstrating to Realtors and originators throughout the country the amazing attributes of the greatest Veteran's benefit of them all: VA Financing.

5 Myths Regarding VA Loans

Feb 7
Category | The iServe Blog
A VA home loan is a mortgage guaranteed by the Department of Veterans Affairs; it’s part of the 1944 GI Bill . Recent years have been challenging for potential homebuyers, with tough lending rules and increasing difficulty securing credit. VA loans are surging in popularity , thanks to low rates and relatively simple processes. Some veterans and families are overlooking this useful program though, simply because of some common misconceptions about the lending process and requirements. Learning more about VA loans and VA loan rates can help you determine if this low-cost and beneficial product is right for you. 5 Common VA Loan Misconceptions You Need Perfect Credit to Get a VA Loan

VA loans are designed to make it easier for military members and veterans to secure a home . Flexible guidelines when it comes to credit are part of the package, and are one of the reasons VA loans are simpler to secure for many ...

“How much can I afford to spend?” It’s a common question and one our loan originators hear all the time. One of the best ways to determine how much you can spend is to start with one of our mortgage calculators , but there are other expenses to consider as well. When you take out a 15- or 30-year mortgage, you’ll have other expenses each month beyond your principal and interest; from your utilities to your taxes, insurance and even PMI, here’s what to expect when you buy a new home. Private Mortgage Insurance (PMI)

First time homebuyers are often shocked by this one; Private Mortgage Insurance is added to many loans and is designed to protect the lender. PMI is charged in conventional mortgages if the amount the borrower puts down is less than 20 percent. PMI rates vary and are based on the cost of your home, interest rate and even your credit score. If you are putting down less than 20 percent, be prepared to see PMI on ...

Can I Afford This Mortgage?

Jan 26
Category | The iServe Blog
When you begin shopping for a home , you may be approved for an amount that seems much higher than you expected. However, just because you can get approved for a loan on a particular home you may still wonder “how much can I afford?” There are many things that you need to consider before you purchase a home and wind up getting in over your head. Luckily, you have access to our mortgage affordability calculator that can help you calculate these amounts and purchase a home that will serve you well and not become a financial burden. Use the Calculator for Basic Guidance

Before you begin shopping for a new home, you need to have a clear idea of what you can pay each month. Some of the important things that you must keep in mind are your monthly household income, current debts and how much your monthly house payment would be. You must also think about how much you will have for the down payment (if your loan type requires you put down ...

Why Join iServe?

Jan 26
Category | The iServe Blog
    “Why Join iServe”? Because no one will help you succeed as we will. A lot’s being written of late about the “downturn” that’s going to happen this year in the mortgage markets. High interest rates. Purchase business down. Housing prices rising. But what do the numbers really say? Interest rates are at historic lows. Credit is loosening up, wage growth is beginning. And building is on the rise, with the National Home Builders Association planning new home construction at levels not seen in years. As home prices rise again, young families will purchase their first homes and begin the era of their investment, the building of their equity.

To see why we at iServe are bullish on our market potential in ...

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