Resolve Mortgage

Lending from a Lender or Bank When choosing a mortgage, it’s important to not only consider what type of loan you’re looking for but also what lender you should choose. In addition to banks, known in the mortgage industry as “direct lenders,” there is a constellation of independent mortgage brokers who can help you secure a quality loan. However, particularly for a first-time home buyer, it can be hard to understand the difference between those two options. In general, banks allow you to be more hands-on during the borrowing process and tend to be cheaper while brokers allow you to secure a complicated loan while shopping around. Here is what you can expect from lending with a bank or mortgage brokers. Lending From a Bank Securing a loan directly from your local financial institution allows you to forgo the middleman in the mortgage process. Loan officers at banks work directly with underwriters and the lending institution to give you more control over your loan ap...

Choose the Best Mortgage for You  If you are looking for a mortgage for your home, the sheer number of options can be dizzying. Not only do you have to decide between loans that have fixed or variable interest rates, but there are also a number of specialty mortgages on the market. When you are deciding which mortgage is right for you and your family, it’s helpful to know the pros and cons of each option. With a bit of research and an understanding of what type of mortgage you qualify for , you can make a solid decision on the best mortgage for you. Here are a few common types of mortgages and a primer on how they can work for you. Fixed-Rate Mortgage The most common form of mortgage is one with a fixed interest rate. Fixed-rate mortgages often come with one of two terms: 15 or 30 years. With a fixed-rate loan, your interest stays the same throughout the repayment period, giving you predictability with your monthly payments. However, unlike a variable interest r...