Home Buying Checklist

Have you ever been out looking at houses to buy and found that after about the 5th or 6th house, they all start to blend together?  You can’t remember the individual features of each house…what you liked and didn’t like about each of them.  Looking at houses can be a fun but a daunting experience. Continue reading “Home Buying Checklist”

The CFPB is looking for your advice?? Can you help?

With all the regulations that have been implemented in the mortgage industry recently, we are now seeing more and more mistakes that are caused at the last minute.  The repulling of a credit report just days before a closing, a discrepancy on an appraisal and so on.  Is it me, or does it seem likeContinue reading “The CFPB is looking for your advice?? Can you help?”

The Government Shut Down

The current shutdown of the Federal Government has left many homebuyers and real estate industry partners with many questions about how the shutdown will impact their ability to do business. Merrimack Mortgage will continue to operate at full capacity during the shutdown; however, the shutdown creates some challenges for lenders. We hope  you find thisContinue reading “The Government Shut Down”

10 Tips for First Time Homebuyers

1.  Be picky, but don’t be unrealistic.  Your first home may need a little work, some paint, carpet and perhaps some other updates.  Remember, this is your first home and the first step in investing in your future. Don’t avoid a home because it has bright pink walls or ugly floors.  Do avoid a homeContinue reading “10 Tips for First Time Homebuyers”

FHA to increase fees…Again!!

FHA is once again increasing mortgage insurance premiums (MIP) on all new purchase and refinance transactions. Effective for FHA loans that have been assigned on or after June 3, 2013 and in addition to this increase, the Annual Mortgage Insurance Premium will remain for the life of the loan. Meaning, you can only remove theContinue reading “FHA to increase fees…Again!!”

National Open House Weekend April 20 and April 21, 2013

Did you know it is National Open House Weekend?  The National Association of Realtors is expecting to sell almost 10% of the current inventory. With lots of homes on the market and great low rates, this spring market is turning out to be fantastic!  This weekend real estate agents from around the area will beContinue reading “National Open House Weekend April 20 and April 21, 2013”

You do know the Valentine’s Day Legend??

The Legend of St. Valentine The history of Valentine’s Day–and the story of its patron saint–is shrouded in mystery. We do know that February has long been celebrated as a month of romance, and that St. Valentine’s Day, as we know it today, contains vestiges of both Christian and ancient Roman tradition. But who wasContinue reading “You do know the Valentine’s Day Legend??”

Another Reason to Own A Home

In case you need another reason to purchase a home for you and your family; Here is an article I just read in the National Mortgage Professional Magazine, “Study Concludes Homeownership Tied to Positive Outcomes for Children“.  According to a new study by professors Richard K. Green and Gary D. Painter at the University ofContinue reading “Another Reason to Own A Home”

6 Things to Know About Credit Scores

By Jessica L. Anderson | Kiplinger – Thu, Jul 12, 2012 FICO isn’t the only number in town. The score that counts is the one your lender uses. 1. There is no single number. The compilers of the widely accepted FICO credit score allow lenders to customize their system, so different lenders produce different scores. Plus, eachContinue reading “6 Things to Know About Credit Scores”

What is a Rate Lock?

Essentially a rate lock/lock-in is a commitment issued by a lender to a borrower or other mortgage originator guaranteeing a specified interest rate for a specified period of time.  Here is how rate locks work; Although lenders can differ in how they handle their own rate lock basics, a typical locking in of a rateContinue reading “What is a Rate Lock?”