What is a Buydown Mortgage?
A buydown mortgage is a home loan where the borrower or a third party, such as a seller or builder, pays an upfront fee to reduce the interest rate for a specific period or the entire term of the loan…
What Is a 2-1 Buydown Mortgage?
A 2-1 buydown mortgage is a financing option that reduces your interest rate for the first two years of your home loan. This temporary rate reduction allows you to pay lower monthly mortgage payments initially before adjusting to the standard…
Mortgage rate lock: When should you lock a mortgage rate?
Lower interest rates and monthly payments can save you thousands over a 30-year mortgage. Even a 0.25% rate difference can significantly reduce interest costs. In a rising rate environment, securing a mortgage rate lock is crucial. What Is a Mortgage…
5 Tips for Finding the Best Local Mortgage Lenders
Are you looking for a mortgage lender in Overland Park, Kansas? Choosing the right lender is essential for securing the best mortgage rate and getting the best service possible. With so many local mortgage lenders in the area, it can…
How Much Income Do I Need to Get Approved for a Home Loan?
Buying a home is a significant milestone, but one of the most common questions potential homeowners ask is, “How much income do I need to get approved for a home loan?” The answer depends on several factors, including the loan…
What is a Mortgage Refinance?
A mortgage refinance offers significant benefits to homeowners. It gives them the ability to consolidate their debts, pay off their mortgage sooner, and save money with lower interest rates. But refinancing at the wrong time or for the wrong reasons…
Credit Scores: How they Work
As you navigate the world of personal finance, you may come across a term that seems to carry more weight than others: credit scores. If you’re not familiar with credit scores and how they work, it’s important to educate yourself…
A Home Inspection Checklist for Homebuyer’s
When purchasing a home, taking complete stock of every aspect is critical. Vibrant flowers, freshly repainted walls, marble countertops, sparkling hardwood floors, and other superficial details will greet you. You can’t see the foundation fractures, old plumbing, unsafe wiring, malfunctioning…
How To Make An Offer On A Home
Making an offer to purchase a home can be an exciting prospect, particularly if you are a first-time homebuyer. However, given the competitive market, making an offer on a home can also be a stressful process. You may find yourself…
Should You Buy a Home with Today’s Mortgage Rates?
Buy a Home with Today’s Mortgage Rates can cause some homebuyers to hit the brakes. But at Metropolitan Mortgage, we believe there’s still a compelling case to be made for buying now. Here’s why: Building Equity While You Wait for…