Loan Options — What’s an FHA Loan?

We’ve written before about the differences between conventional and FHA loans, and now the Cushing Team at Guild Mortgage in Reno is back with a closer look at the latter. FHA loans can help prospective homeowners who may have difficulty securing a loan with conventional lenders, and they have a number of features that make them a good option for the right borrower. If you’ve ever wondered about FHA loans, here’s what you should know. Continue reading “Loan Options — What’s an FHA Loan?”

First-Time Homebuyer? Follow These 4 Tips to Find the Right Lender

Buying a home for the first time is a thrilling experience, with a lot of hurry-up-and-wait scenarios. To ensure everything goes as smoothly as possible — and to avoid losing out on the home of your dreams because you missed a best practice early on — it’s a good idea to get your ducks in a row as early as possible. If you’re a first-time homebuyer, make sure you zero in on a good lender. The Cushing Team at Guild Mortgage here in Reno has four tips to steer you in the right direction. Continue reading “First-Time Homebuyer? Follow These 4 Tips to Find the Right Lender”

The Biggest Mistake People Make When They Look for a Mortgage

Richard Thaler is a Nobel Prize-winning economist with a theory about irrational economic behaviors. Based on his research, he believes that consumers generally don’t spend enough time investigating their options, become easily confused when presented with complex alternatives, and are resistant to change — even if it costs them. In particular, these are behaviors exhibited during complex tasks, like securing a mortgage. We believe it! The mortgage process can be an overwhelming experience. But it doesn’t have to be that way. The Cushing Team of Guild Mortgage here in Reno is sharing what you can do to help ensure a smooth process, and it starts with avoiding the biggest mistake people make when they look for a mortgage. Continue reading “The Biggest Mistake People Make When They Look for a Mortgage”

Good and Bad Reasons to Refinance Your Mortgage

With interest rates dropping yet again, it’s no surprise that many people are considering the wisdom of refinancing their mortgage. Securing a lower interest rate is usually the best reason to refinance, but there are a few other scenarios that make it a sensible choice. The reverse is true too – there are certain motivating factors that will likely make a refinance a bad decision. Here are the good and bad reasons to refinance your mortgage. Continue reading “Good and Bad Reasons to Refinance Your Mortgage”

Loan Options – What’s a VA Loan, and Do I Qualify?

If you’re shopping for a new home and starting to consider your loan options, a VA loan is likely already on your radar. And while you may know that VA loans are related in some way to the Department of Veterans Affairs, there’s more to the story. Today, the Cushing Team in Reno is sharing everything you need to know about VA loans, including whether you might qualify. Continue reading “Loan Options – What’s a VA Loan, and Do I Qualify?”

Why is My Credit Score Different?

As a mortgage lender here in Reno, the Cushing Team spends a lot of time sharing information that we hope prospective homeowners will find useful. Some of the most common advice to those gearing up for a home loan involves reviewing your credit score. This information is often widely accessible from different websites and even your own credit card company. But people are often surprised that the credit score their lender ultimately accesses as part of the home loan process isn’t the same as the number they’ve been seeing. Here’s why your credit score is different. Continue reading “Why is My Credit Score Different?”

Here’s What Really Sets Mortgage Lenders Apart

If you’re ready to hold your nose, close your eyes, and leap into the home mortgage process, you have a lot of decisions to make on the way down. One of the big ones involves the mortgage lender with which you’ll ultimately partner. Here in Reno, there are national banks and local banks and credit unions who will compete fiercely for your business. And then there’s the seemingly limitless options you’ll find online. Programs and interest rates will vary only somewhat from one company to the next, so does it matter which lender manages your loan? It does, actually. Here’s what really sets mortgage lenders apart. Continue reading “Here’s What Really Sets Mortgage Lenders Apart”

The Advantage of Using Your Agent’s Lender

It’s common practice for real estate agents to offer recommendations for a variety of services, big and small. A good mortgage lender is one of them. And before you start wondering, it’s not because they get some kind of kickback for the referral – in fact, that’s prohibited by the Real Estate Settlement Procedures Act (RESPA). There’s actually a very good reason for a real estate agent to recommend a reputable mortgage lender, and it benefits the prospective homeowner, too. Here’s the advantage of using your agent’s lender. Continue reading “The Advantage of Using Your Agent’s Lender”