by VLC Staff | Aug 31, 2022 | Budget Tips, Mortgage Loan
8 Ways to Pay Off Your Mortgage Faster The most common type of mortgage loan for a permanent family residence is a 30-year fixed-rate mortgage. Thirty years can feel like you will be paying off your mortgage forever. But did you know there are easy ways to cut your...
by VLC Staff | May 5, 2022 | Education, Financial, First-Time Homebuyers, Home Buying, Home Loan, Housing Market, Housing Market 2022, Mortgage, Mortgage Loan, VA Loan
How to Shop for Different Mortgage Lenders You have been planning and saving for this moment for months, maybe years. It’s time to start shopping different mortgage lenders and finally get pre-approved for a home loan. But wait. How do you actually shop different...
by VLC Staff | May 2, 2022 | Education, Financial, Home Buying, Home Equity Loan, Home Loan, Mortgage Loan
Employment Requirements for Home Loan Approval As you prepare to purchase a home and apply for a mortgage loan, it’s important to understand how your employment status and employment history can affect your mortgage loan eligibility. In this article, we break down the...
by VLC Staff | Apr 25, 2022 | Education, Financial, First-Time Homebuyers, Home Buying, Home Loan, Mortgage, Mortgage Loan, Mortgage Rate Lock, Mortgage Refinance
7 Common Questions About Mortgage Rate Locks What is a Mortgage Rate Lock? A mortgage rate lock prevents the interest rate on your home loan from increasing or decreasing within a specified timeframe before closing, typically 30-60 days or more depending on the terms...
by VLC Staff | Apr 14, 2022 | Education, Financial, Home Buying, Mortgage, Mortgage Loan, Underwater Mortgage
What is an Underwater Mortgage? An underwater mortgage or upside-down mortgage is when the value of your property is less than the remaining mortgage you still owe on the property. Underwater mortgages most commonly occur during an economic downturn when the value of...
by VLC Staff | Apr 7, 2022 | HELOC, Home Equity, Home Equity Loan, Home Loan, Mortgage Loan
How to Build Equity in Your Home What is Home Equity? Home equity is the portion of your home that you own. It is the principal value of your home that has been paid off. When you purchase a home and secure a mortgage, there are several ways you can establish and...
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