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New England Title & Escrow Services | Massachusetts Real Estate Attorney | Blog

New England Title | Massachusetts Real Estate Attorney | Blog

 

What you need to know about the New England real estate and lending market.

Reasons A Lender Might Deny Your Mortgage Refinance Application

February 22, 2021

There are multiple reasons why a homeowner might make the decision to refinance. Perhaps they are trying to reduce their monthly mortgage payment or shorten the term of their current loan. Or maybe they are hoping to do a cash-back refinance in order to either pay off debt or to pay for home improvements.  Whatever the reason, it’s important to remember that just because you have a current mortgage, does not mean you’re guaranteed to be approved for refinancing. Here we will take a look at some of the reasons a refinance application might be denied.

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Questions To Ask Yourself Before You Refinance

February 08, 2021

All time low mortgage rates have many people looking at refinancing options. But like with any other financial decision, there are certainly a number of questions you should ask yourself before you decide to take the plunge to refinance. To make it a bit easier, we’ve outlined some key points to consider before you call your lender.

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What is a Loan Estimate?

August 27, 2020

A Loan Estimate is a document that details the terms of the home loan you are applying for.  By law, the lender you applied for a mortgage with must provide the loan estimate to you within three days of them receiving the application.  

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The Art of Getting Rid of PMI

August 03, 2020

Any time a home is purchased with a conventional loan with a deposit of less than 20 percent, the lender will require the purchaser to pay PMI, or private mortgage insurance.

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Applying for Mortgage? Causes for Concern on Your Bank Statements

March 23, 2020

When applying for a mortgage, your mortgage lender will require you to submit many forms and fill out various (never-ending) paperwork.  Once of the financial documents you will be required to submit is your bank statement.  As you will find below, your bank statement is just as important as your pay stubs and your tax returns when trying to get approved for a mortgage.

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