Category Archives: Mortgage Information

Information pertaining to Mortgages

Saving Strategies For A Down Payment

Saving for a home can take time for home buyers. What is the length of time Buyers take to save for a down payment? What are your saving strategies for a Down Payment? According to a post in Economist Commentaries, by Jessica Lautz, Director, Survey Research and Communications at the National Association of REALTORS®, “Among […]

A Buyer’s Purchasing Power

Commentary By Gail Alm at Fairway Independent Mortgage One of the things I can always count on when talking with someone about real estate and financing it they will always ask me, “What do you think is going to happen with interest rates?”  and “What are the current interest rates?” There are so many factors […]

Use a Local Mortgage Company in Coastal Delaware

Why do we recommend that you use a local mortgage company when buying a home in Coastal Delaware? This month we had several settlements in which our Buyer clients had decided to obtain a mortgage from one of the big banks or mortgage companies. In one case, the clients had maintained a relationship with that […]

Choose your own settlement attorney in Delaware

In Delaware, the Buyer chooses the settlement attorney and the attorney represents the Buyer, not the Seller. If the Seller wishes to retain their own counsel, they may do so, but you should not give up your right to representation by your own attorney Use your own Attorney In new construction, it has become common […]

Avoid Unsolicited Mortgage Offers

Have you ever wondered where all those bank offers and solicitations come from? I once made the mistake of responding to an online offer to refinance my mortgage and “reduce your mortgage payment”. Normally, I ignore them, but this one time it appeared to be legit. That one mistake resulted in phone calls and mailings […]

Refinance Your Mortgage for Rate and Payment Reductions

Why Refinance Back into a 30-Year Loan? One of the biggest reasons homeowners refinance their mortgage is to obtain a lower interest rate and lower monthly payments. By refinancing, the borrower pays off their existing mortgage and replaces it with a new one. This can often be accomplished with a no-points no-fees loan program, which […]

Reverse Mortgages not just for Older Seniors

Reverse Mortgages are not just for the older seniors anymore. In fact, Baby Boomers in their early 60’s now make up 20% of the prospective reverse mortgage candidates! Why? According to Sandra Timmermann, director of the MetLife Mature Market Institute, “Consumer attitudes about reverse mortgages are changing because the recession has eroded confidence about retirement […]

Opt-Out of Junk Mail

Are you tired of all of the unsolicited credit card, insurance and mortgage offers in the mail?  It seems like half the mail is magazines and junk and the other half is offers of credit.  If you would like to stop these unwanted solicitations, I have a solution for you.  Visit and opt-out of […]