How to Choose the Right Loan

When it comes to financing a home, there are many options to consider. Working closely with a loan officer will help determine what type of mortgage is right for you. First, we will cover some of the basics of mortgage loans so you have a better understanding when you contact a professional. Mortgage Term: Mortgages come ...

Do You Really Understand Your Mortgage APR?

The federal government supports the annual percentage rate disclosure (APR) as the standard measurement of loan cost for mortgage shoppers beginning their journey to find a good deal on a home loan. You should understand what goes into a mortgage APR and how you can utilize this knowledge to find the best, most reasonable loan ...

Alternative Rate Locking Options

At 1st Advantage Mortgage, we offer a variety of alternative options when it comes to locking in an interest rate. If you don’t have a property selected but rates are favorable, you can take advantage of the market by utilizing Lock & Shop; lock in a rate for up to 90 days while you shop ...

The Fed and Your Rate

The Federal Reserve, commonly referred to as the Fed, is the central bank of the U.S. The branch that is in charge of setting the Federal Funds Rate is the Federal Open Market Committee (FOMC). The FOMC indirectly affects mortgage rates by controlling the amount of money that circulates in the economy. FOMC meetings occur ...

It’s Time to Check Your Rate

According to a Bankrate.com survey, 35% of homeowners don’t know what their mortgage rate is. This is very understandable as once you go through the mortgage process and start making payments, it’s an easy thing to just set and forget. What’s more important than knowing your rate, is knowing how much money you can save ...