mortgage: What is Loan to Value (LTV)? - 04/12/16 08:58 AM
The mortgage world is full of industry-specific lingo. One commonly used acronym is LTV or Loan to Value. This term is often used in the home buying or refinancing process to describe the loan amount as a percentage of the purchase price or value of the property. For example, an $80,000 loan on a $100,000 property equals an 80% LTV.
You can also think of LTV as the inverse of your down payment. If you put 20% down on a home, your LTV will be 80%. The LTV may be slightly higher if costs, such as upfront mortgage insurance or other funding … (0 comments)

mortgage: How an Early Mortgage Preapproval can Affect Your Credit Score - 03/18/16 10:03 PM
 
 
While you’re shopping for the home of your dreams, you may come to realize the process might take longer than expected. It’s important to know that getting a preapproval requires a “hard pull” on your credit, and too many hard pulls can impact your ability to score the best loan terms once you are officially able to move forward with a mortgage for the home of your dreams. To avoid this credit stress, follow these tips to lessen the risk and protect one of your most important assets, your credit.
 
Get prequalified and then get preapproved
Before you start looking at homes you cannot comfortably … (1 comments)

mortgage: Pay Off Your Mortgage Faster - 02/24/16 03:23 PM
 
Paying off your mortgage may seem like a daunting task, but did you know there are things you can do to help pay it off faster? Finding a way to make just one extra payment each year can shave off years of interest payments, putting dollars back in your pocket. In order to find the money to make an extra annual payment, you need to establish your motivation and a method.
 
First, you need the motivation to understand the long-term impact of one extra payment. To put this into better perspective, use my mortgage calculators to understand why making an extra payment … (2 comments)

 
Buck Seymour, Mortgage Banker Serving the State of New Jersey  (Gateway Mortgage Group)

Buck Seymour

Mortgage Banker Serving the State of New Jersey

Marlton, NJ

More about me…

Gateway Mortgage Group

Mobile: 609-377-7069

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