Mortgage Pre-Approval: Soft Pull vs Hard Credit Pull?
Photo by Tierra Mallorca on Unsplash At Mortgage Maestro Group, we understand that the home buying or refinancing process can be overwhelming. Many homeowners feel anxious about their credit and qualification status. Let’s simplify—- by helping you understand the difference between soft and hard credit pulls, how it impacts your credit score, and mortgage […]
Mortgage Calculators Explain Your Buying Potential
You are in the early stages of buying a new home. You have decided a new home is what you want, and you have both a mortgage broker and real estate agent in mind. Your biggest question right now is how much house you can afford. You would like to have some baseline figures before […]
What is Private Mortgage Insurance?
With modern home prices being what they are, it is no longer unusual for home buyers to carry what is known as private mortgage insurance (PMI). PMI is generally perceived as being a necessary evil and something buyers could do without. But it doesn’t have to be a bad thing. When you consider what buyers […]
What to Avoid When Buying a Home
As a Denver mortgage broker, Mortgage Maestro helps arrange loans for first time buyers as well as VA loans, physician loans, and even conventional mortgages. We have seen plenty of success stories over the years – and a few sad stories, too. Many of those sad stories have been due to mistakes made by buyers […]
First Time Buyers: Don’t Shy From Starter Homes
Mortgage Maestro is always happy to help arrange first time home buyer mortgages. In fact, we consider it a privilege to do so. We know how tough it is to buy that first home when prices are so high and inventory is low. That being the case, a starter home represents a foot in the […]
What is Amortization in a Home Loan Scenario
Amortization is a financial concept with multiple applications. For example, business owners rely on amortization to express the value of their assets for tax purposes. Investors rely on amortization for similar calculations. But when it comes to home loans and the mortgage market, amortization has a completely different application. Mortgage lenders rely on amortization to […]
What is Your Borrowing Power for a New Home?
With each new client hoping to get a home mortgage comes a lengthy list of circumstances that will ultimately impact how much the client can borrow. As a Colorado mortgage broker, we need to deal with budget realities. We need to know how much homebuyers can truly afford to pay before we can even think […]
How to Choose the Right Home Loan for You
Home mortgages are not one-size-fits-all financial instruments. There are lots of different types of mortgages, all targeting certain groups of people with different needs. Needless to say that a conventional mortgage is not the best choice for every home buyer. This implies something particularly important: finding the right mortgage for you makes an enormous difference […]
Mortgage Advice: All About Mortgage Contingencies
Making an offer on a house is a milestone that home buyers generally look forward to. The experience can be even more exciting when a buyer has been pre-approved for a quality home loan. But adding contingencies to an offer can spoil things. Contingencies have their pros and cons, no doubt, but they can sour […]
What’s the Difference Between Interest Rate and APR
As a Colorado home mortgage broker, we help first-time homebuyers navigate the mortgage landscape on the way to that first home. A lot of what we do involves educating buyers about how the system works. Trust us when we say there is a lot to learn. For example, did you know there is a difference […]
The Extra Mortgage Payment Really Works
One of the oldest tricks in the book for saving money on a home loan is to make a single extra mortgage payment per year. The idea was pushed so aggressively in the late 1990s and early 2000s that it took on an almost mythical status. But the idea itself is not a myth. It […]
The Basics of Loan Amortization and Interest Calculations
Few things in the home loan environment confuse homeowners as much as amortization and interest calculations. These two particular aspects of having a mortgage are enough to make you pull your hair out. Fortunately, mortgage brokers and bankers understand them. They need to, otherwise their businesses would fail. Homeowners are better off if they understand […]
