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The iServe Blog


What’s next for the real estate market and mortgages in general? It may sound like a question about the news or even politics, but the latest trends could impact the way you buy your next home and how much you spend. From the number of new homes being built to a more relaxed approach to lending guidelines by mortgage loan lenders, these trends could change the way you buy your next home. Here’s what our experts predict is coming to the industry in 2017: 5 Mortgage Trends to Watch in 2017 and Beyond Climbing Interest Rates Recently, interest rates were raised for the second time since 2006; the Federal Reserve predicts more increases to come. This increase will cause mortgage rates to creep up , making it more expensive to buy a home. If you are planning to buy a home, getting your residential mortgage application in sooner rather than later may help you save money. Better Possibilities due to Looser Credit Standards

Relaxed lending standards will make mortgages more accessible to more people; if you were declined in the past ...

What mortgage loan type is right for you? Looking at all the different options can get overwhelming in a hurry, but this home loan hack can help. Discovering the loan type that is most common in the area you want to live can give you a good idea of what will work best for you. Think about your dream home — is it a convenient high-rise downtown, a house bursting with kids in a suburban neighborhood or a sweet cottage in the country? Here are the most popular loan types for each of these living spaces: Use this information as a starting point on your home buying quest. Most Common Home Loan Types for Your Area Urban

Do you love the big city life, the easy transportation and the ability to get just about anything you want, any hour of the day? For city dwellers, an FHA loan is often a good bet and is the most commonly used loan type in urban areas. If you are used to paying rent, the possibility of lowering your monthly cost (and potential year-end tax savings – check with your own tax advisor about that) of a mortgage may be a pleasant surprise. With low down payment ...

It may seem like too much adulting all at once, but buying a home before the age of 30 may actually help you create wealth and live better later. While your friends are scrambling and switching rentals from one difficult landlord to another, you can enjoy the peace of mind that comes with owning your own home and not worrying about where you’ll have to move next. Homeownership comes with more perks than having a consistent living space, though. By purchasing your home instead of renting, you’ll be able to fully customize your space, have all the pets you want, and maybe even get a nice tax break at the end of the year. Here are four great reasons to buy while you are young and reap the rewards of early homeownership. No Nosey Landlord

Tired of the landlord doing surprise “inspections,” showing up to change a filter when they feel like it, or complaining when you have friends over? When you own a home, you are not beholden to anyone but the bank, and you set the house rules. Want to have friends over all night, let someone camp on your couch for a few weeks, or dog-sit for a friend? You have the freedom to do so when you ...

Your home may be the largest purchase you make, and speaking to a mortgage professional at the right time can help you get the best possible outcome. It may seem counterintuitive, but the right time to speak to someone about your new home is very early in the shopping process. This important conversation with a residential mortgage company can help you discover what you can afford to spend, which will help you narrow down your choices and select the best possible home for your family. Driving around looking at homes and dreaming is fun, but speaking with mortgage loan lenders can help you get a realistic idea of the options that will suit you best. You’ll be able to find out how much you can spend, what your new home would cost each month, and the product that is right for you. Prequalification will help you learn about your options and give you an excellent understanding of the process. Speak to a Mortgage Loan Officer Now

By getting prequalified early, you’ll be able to get the information you need to make a great decision about your home ...

The mortgage process doesn’t have to be all that difficult, and owning your own home can put you in a better financial position than your Millennial peers. If you remember your parents agonizing over applications, waiting forever to hear back, or even missing out on buying a home because they did not a large enough down payment, you may not realize how much more flexible and streamlined the process has become. Today, completing the online mortgage process is faster and easier than before.  Hey, if Justin Bieber can purchase a house at 18, why can’t you? Flexible credit guidelines, first-time home buyer-friendly programs and online mortgage applications make it easier to reap the rewards of home ownership at any age. And while you might not want to compare yourself to an international pop star - with the right financial qualifications - you may be able to purchase a home a lot younger than you would expect. We’ve outlined a few common misconceptions below and are ready to help demystify the home-buying process: Common Mortgage and Home-Buying Myths

You ...

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

Just ...

    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
9:13
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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 ...


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