Hearthside Happenings

Which Down Payment Strategy is Right For You?

Trying to figure it out can be daunting.
Posted by Rebecca Nutt on January 28, 2019 in  buying a home  Coldwell Banker  Coldwell Banker Hearthside  coldwellbanker  mortgages
You’ve most likely heard the rule: Save for a 20-percent down payment before you buy a home. The logic behind saving 20 percent is solid, as it shows that you have the financial discipline and stability to save for a long-term goal. It also helps you get favorable rates from lenders. But there can actually be financial benefits to putting down a small down payment—as low as three percent—rather than parting with so much cash up front, even if you have the money available.      ... read more
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Real estate is shifting to a more normal market; the days of national home appreciation topping 6% annually seem to be over. As it becomes easier for buyers to obtain mortgages, many are suggesting that this is proof that banks are repeating the same mistakes they made a decade ago. However, it seems we are not heading to another housing “bubble & bust.” Each month, the Mortgage Bankers’ Association (MBA) releases a measurement which indicates the availability of mortgage credit known as the M... read more
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The Broker, The Banker, and The Mortgage Lender

Oh my! Who do you choose?
Posted by Rebecca Nutt on September 13, 2018 in  buying a home  mortgages  real estate
Exploring options for a mortgage can be daunting. There are so many questions that we face.Who do you choose? Who can you trust? What's the best option? Chris Harding, Senior Loan Officer at Northeast Equitable Mortage, broke down the differences between a broker, a banker and a mortgage lender to make it easier for you to decipher. Let's take a look at his breakdown:  Mortgage BrokerA mortgage broker is a middle person or “matchmaker” who represents the mortgage loan products of man... read more
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Beware of This One Thing On Settlement Day

Congrats! You're settling on your new home. Here's one thing you should be aware of.
Posted by Rebecca Nutt on August 28, 2018 in  buying a home  home buying  mortgages
You’ve found the home, negotiated the purchase, gone through inspections, and received your mortgage approval.  All that is remaining is a smooth and timely settlement…hopefully! However, that may not be the case if your lender is scheduled to “wire” the loan funds for your purchase.A wire transfer is an electronic transfer of money. They're (most of the time) reliable, fast and get the job done. Unfortunately, wire transfers can present drawbacks. They sometimes can get lost or numbe... read more
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What to Look for When Choosing a Mortgage Lender

It might be daunting, but the choice is simple.
Posted by Rebecca Nutt on August 23, 2018 in  buying a home  mortgages
The market is hot and you’re ready to buy.  An internet lender may sound tempting, but what are the advantages of using a local lender? REALTOR RelationshipsLocal lenders tend to have long established relationships with real estate agents throughout your area. In a situation where several offers are on the table, having a local, trusted lender could be the difference between landing the house or not. Some sellers and real estate agents may hesitate to entertain offers from national banks or online lender... read more
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