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Loan Options — What to Understand about Conforming and Nonconforming Home Loans

Prospective homeowners getting organized to make an offer on a home quickly learn how many options there are when it comes to both lenders and mortgage options. From conventional to jumbo, FHA to VA, there are all kinds of loan products. And the more you know about each of them, the better equipped you are to zero in on the best choice for your needs. Here’s what to understand about conforming and nonconforming home loans. Continue reading “Loan Options — What to Understand about Conforming and Nonconforming Home Loans”

6 Kinds of Mortgages — Plus Tips to Find What’s Best for You

If you’re ready to buy a new home, congratulations! It’s an exciting process, and there are few ways to help smooth the path forward. Partnering with an experienced real estate agent and ensuring your credit history and financials are up to speed are important first steps, and so is securing a loan approval letter. It’s also wise to begin investigating your loan options. There are lots of mortgages out there, and deciding which one suits your needs isn’t always easy. To help, the Cushing Team of Guild Mortgage here in Reno is sharing information on six kinds of mortgages, with tips for finding what’s best for you. Continue reading “6 Kinds of Mortgages — Plus Tips to Find What’s Best for You”

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?”