Articles & FAQ
Quickly tap into our robust knowledgebase, learn about mortgage programs and best practices, and stay up to date with the latest mortgage news.
Mortgage Percentage of Income
Buying a home is typically the largest purchase a consumer will make in their lifetime. Committing to a mortgage is often a long term agreement. It is important that prospective homebuyers take time to carefully establish how much house they can afford and what percentage of income should go towards their monthly mortgage payment.
Read MoreConventional Loan FAQs
For potential homebuyers, deciding on what type of mortgage loan is right for your financial needs and goals is a crucial step in the home buying process. One of the most common loan types among mortgage borrowers is conventional loans.
Fixed Rate FAQs
For many prospective homebuyers, selecting a mortgage loan is as important as finding a property to purchase. A fixed rate mortgage loan is a type of mortgage loan in which the borrower is locked in to a defined interest rate over the lifetime of the loan.
Jumbo FAQs
Jumbo loans are also known as jumbo mortgages. Jumbo loans can be used as purchase loans, refinance loans or cash-out refinance loans. Eligible borrowers can apply for a jumbo mortgage with either a fixed or adjustable rate term.
Conventional Home Loans Guide
If you’re able to meet the down payment, income and credit requirements, conventional loans typically offer more flexibility and a wider array of loan programs and terms.
USDA
Sponsored by the U.S. Department of Agriculture, a USDA loan is a mortgage that offers benefits for those wishing to purchase a home in an eligible rural or suburban area.
FHA Loans
Sponsored by the U.S. Department of Housing and Urban Development (HUD), FHA loans are government-backed home loans distributed by private lenders like Mutual of Omaha Mortgage. FHA Loans are a great financing option for first-time home buyers who may have less than perfect credit history or have smaller down payment goals
Loan Process
We know that for many, the mortgage loan process can be overwhelming and confusing. Don’t worry! With the right information, preparation and an expert loan officer, the loan process can be quite easy and straightforward.
Mortgage Types
When it comes to finding the right mortgage loan type and term for your new home purchase or refinance, the number of options available can be overwhelming. In this article, we’ll compare the different mortgage types and mortgage terms that you might come across as you look for a new home loan.
ARM
One key decision that you’ll need to make during the mortgage process is whether you’ll purchase your home with a fixed rate or adjustable rate mortgage (ARM). Each has pros and cons that should be considered during the decision-making process.