Paramount Mortgage - Lender's Blog

Mortgage Applications on the Rise; Even with Shutdown

By Don Menendez, Paramount Mortgage Production Manager

As a result of the federal government shutdown and declining consumer confidence, fixed mortgage rates fell for the third consecutive week. Freddie Mac reports ending at their lowest averages in nearly four months.

Applications for U.S. home loans rose in the latest week as demand for refinancing outpaced purchases, data from an industry group showed on Wednesday.

Planning for the Holidays - Part 1

We have something important to tell you, but you’d probably better sit down first. Ready? Here’s the news: There are only 77 days until Christmas!

Home Financing During the Shutdown

By Don Menendez, Paramount Mortgage Production Manager

The government shutdown is here. Whether it’s not being able to get a new Social Security card or visit a national park, Americans will immediately feel the effects. But there is one bright spot of the economy that stands to be affected as well: housing.

October Home Maintenance

Autumn is here, bringing the promise of cooler temperatures and beautiful colors throughout our area! Last week, we explored the world of cooking with a slow cooker, so you can free up some time for other things.

How Much House Can Your Buyer Afford?

We at Paramount Mortgage Company would like to help you and your buyer understand a little more about the prequalification process. As a lender, here is how we look at income:

When a loan officer prequalifies you, he works backwards to figure your maximum mortgage amount. You can do the same thing. The first step is to determine your monthly income. It isn't quite as easy as it sounds. Lenders only count income they can document through paperwork.

Quick and Easy Meals

What comes to mind when you hear these words: football, leaves, cocoa, bonfires, apple cider, pumpkin, chilly? “Fall” of course! Yes, we officially welcomed the autumn season this past weekend! The kids have been in school for a while now, and the activities are in full swing! Before long, we’ll be adding holiday shopping (gasp!) to our to-do lists!

Could Market Shift to Demand from Supply?

There is starting to be a shift in the dynamics of the housing market, which will mean future increases in home values will be driven by market demand rather than the shortage of homes for sale, according to Realtor.com’s August National Housing Trend Report.

Credit Report Repair

You know that your credit score is important. That simple three-digit number can determine whether you obtain the mortgage or other loan that you need. But what if there is a mistake on that report? Perhaps someone with a similar name or social security number did not fulfill their obligations, but the company attributed the offense to you.

A Thank You to Our Veterans

With September 11 just passing and Veteran’s Day coming in November, we are reminded of the men and women that are stationed all over the world and here at home to do one thing, protect us.

These men and women are so important to us in our day to day lives, but it is easy to forget they are out there in harm’s way, so we can go about our business pretty much care free.

Our Employees of the Month and The Backstoppers

Our Employees of the Month are John Brooks and Jeannine Corno, from our accounting department. Click the link below to find out more about John and Jeannine and their charity of choice: The Backstoppers.
The Backstoppers

 

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