Blog

How to Cancel FHA Mortgage Insurance

Mortgage loans made by the Federal Housing Administration can be a huge help to homebuyers without a large down payment. FHA loans require down payments of as little as 3.5%. Traditional loans often require 20%. Yet FHA mortgages come with some strings attached, namely FHA mortgage insurance. Almost all mortgage loans made with less than a 20% down payment require some form of mortgage insurance. This insurance protects the lender against losses from the borrower defaulting in the first several years of the loan. It is typically paid monthly and is tacked onto the mortgage payment. With con...

December 4th, 2019 | Government Loans, FHA Loans, How to Cancel FHA Mortgage Insurance

Happy Thanksgiving

We would like to thank all of our customers and wish them a Happy Thanksgiving. Please remember if you are traveling, to be safe. We are so grateful that you have managed to stick with us.

November 21st, 2019 | Happy Thanksgiving, Safe Travels, Happy Thanksgiving

6 Homebuying Mistakes to Avoid

Forgoing an Agent Some homebuyers think they can navigate the buying waters alone, but as complex as the real estate market is today, that strategy is risky. One of your first steps should be to find a trusted real estate professional who will represent your interests. An agent’s experience can give you valuable insights into things like which neighborhoods are good and bad, or how to craft an attractive offer for sellers. Even if you are buying a new home from a builder, a real estate agent could help you make sure you are getting the best deal and terms.   Overlooking Mor...

November 6th, 2019 | Purchasing a Home, 6 Homebuying Mistakes to Avoid

Jumbo Loans for Veterans

If you are a veteran or a servicemember, you are probably well aware of VA mortgage loans. These loans offer excellent benefits, including no down payment or credit score requirements as well as allowing borrowers to forgo mortgage insurance premiums.  But what happens if you are looking to buy an expensive property or you live in a pricier area of the country, where home prices exceed the standard VA loan limits? Is it still possible to take advantage of VA mortgage financing? Thankfully, the answer is yes! You can apply for a VA jumbo loan. Jumbo Loan Defined A jumbo loan is for a...

October 24th, 2019 | Purchasing a Home, Government Loans, VA Loans, Jumbo Loans for Veterans

Can I Refinance with Bad Credit?

Mortgage interest rates have tumbled in recent months, making refinancing more appealing than ever. As of the latest Mortgage Bankers Association survey, refinance request volume is up 180% over last year. There may be some homeowners who would like to take advantage of the interest rate savings but worry they may not qualify because of poor credit. If you are part of this crowd, here are several ways to make refinancing a reality: Learn Your Options Start with an open discussion with a lender. Let them know you do not have the best credit but that you would like to refinance. They have ...

October 9th, 2019 | Credit, Refinancing a Home, Can I Refinance with Bad Credit?

Is a Bigger Down Payment Always Better?

In the homebuying process, if you find yourself in the enviable position of having more cash than needed for a minimum down payment, it may be difficult to know just how much you should put down. A larger down payment can bring plenty of benefits, but is it always best to contribute the biggest down payment possible?  First, remember that every loan program has its own down payment requirements. FHA loans for example require a minimum of 3.5% while jumbo loans will require at least 10%. To get a conventional loan without PMI you’ll need 20%. USDA and VA, by contrast, do not requi...

September 25th, 2019 | Purchasing a Home, Preapproval, Mortgage Advice, Is a Bigger Down Payment Always Better?

Pages: 1 2 3 4 5 6 7 Next >

First Liberty Mortgage Company, LLC

5 Commandant Gade
St. Thomas, USVI 00802
340-774-1101

180 West Main Street
Clinton, CT 06413
860-664-1855

United States Virgin Islands - Connecticut

Mortgage Broker Only, Not a Mortgage Lender or Mortgage Correspondent Lender

NMLS# 22429 www.nmlsconsumeraccess.org