Mortgage reserves are an essential part of getting a mortgage. But what are they, and why do you need them? In this blog post, we’ll answer those questions and more. Plus, we’ll help you figure out how much money you…
Mortgages have many options, but you can choose from fixed rates or ones that change. Fixed-rate loans lock in your interest rate and payment for life, while adjustable rate mortgages (ARMs) have fluctuating margins which could lead to savings if…
If you’re looking for Rick Woodruff – Senior loan officer in Kansas City with Metropolitan Mortgage, look no further. Rick is a seasoned professional with over 30 years of experience in the mortgage industry. He has always been passionate about…
A loan-to-value (LTV) ratio compares the size of your mortgage to the value of your property. Lenders use your LTV ratio to determine your interest rate, monthly payment, and how much you can borrow. What is a Loan-To-Value Ratio (LTV)?…
If you have recently received extra money, you might consider paying your mortgage principal. If so, this article covers the pros and cons of what you should know about recasting a mortgage. Occasionally, homeowners will receive a rather sizable amount…
Refinancing your mortgage can be a strategic move that allows you to take advantage of favorable interest rates, reduce your monthly payments, or even pay off your home faster. As a current homeowner in Kansas City with a conventional mortgage,…
Are you planning to buy a home in Kansas City? As a first-time homebuyer or even a seasoned veteran of the home buying process, you may be wondering why realtors always ask for pre-approval letters. The letter is a vital…
The Independence, MO housing market is an attractive option for homebuyers in the Kansas City metropolitan area. With its rich history, affordable housing options, and close-knit community, Independence offers a unique living experience. This guide will explore the current trends,…
Are you considering moving to Kansas City? Whether you’re relocating for a job, seeking a change of scenery, or looking for a new place to call home, Kansas City has a lot to offer. At Metropolitan Mortgage Corporation, we understand…
The Federal Reserve, often called the Fed, shapes the economic landscape of the United States. One key tool it uses is the federal funds rate, which influences many financial instruments, including mortgage rates. The Feds rate decision June 2024 will…
