The Blog
Mortgage 101: Navigating Divorce
When a marriage ends in divorce it can be an emotional and complicated time. According to the CDC 34% of married women over 20 years old and 33% of married men over 20 years old have been divorced. The decision to end a marriage is the first of many that need to be...
2023 Loan Limits Announced
What are Loan Limits? Loan limits are set by the Federal Housing Finance Agency (FHFA) and they determine the maximum amount of cash a homebuyer can borrow and obtain a conforming loan. Loan limits apply to both Fannie Mae and Freddie Mac which are two government...
Legacy Mortgage: Now Licensed in Maine
Legacy Mortgage Announces Maine License Legacy Mortgage is proud to announce that they have obtained their company mortgage loan originator license in Maine. Maine is the most recent state the mortgage company will now offer their lending services. They are currently...
Escrow 101
What are Escrows? When you are buying a home you will hear escrows discussed throughout the loan process. By definition an escrow is when money is held by a third party until it needs to be used to complete a certain condition. During the home buying process deposits...
Adjustable Rate Mortgages – Why They Might Be Perfect For You!
An Adjustable Rate Mortgage (ARM) is often viewed cautiously by borrowers shopping for a loan product. An ARM product does come with some variables that can make people nervous. However if you are shopping for a home in today's market it is wise to evaluate all the...
PMI: The Who, What, When, Why & How
Historically it has been believed that you need a 20% down payment to buy a home. This qualification can be limiting to say the least and with home prices on the rise it can seem nearly impossible to save up that size down payment. Thankfully today home buyers can...
Waiving Real Estate Contingencies: What You Need to Know!
A common practice in today's competitive real estate market has been to waive real estate contingencies when making an offer on a home. This can be an appealing thing to do to make your offer more attractive to the seller. However it is imperative to understand the...
Competing with Cash Offers – The Do’s and Don’ts
If you've been keeping an eye on the real estate market recently you are well aware of how competitive it is. In fact, many home buyers are struggling to get their full price offers considered at all. It seems that in the Upper Valley, if you aren't paying over asking...
Preapproval vs. Prequalification: What You Need to Know
If you've ever shopped for a home you have likely heard the term prequalification or preapproval. This is an endorsement provided by a lender to show that you have a strong enough financial profile to be able to buy the home you made an offer on. It's basically a...
4 Tips to be a Competitive Buyer in the Upper Valley Real Estate Market
If you've been keeping an eye on the real estate market recently you are well aware of how competitive it is. In fact many home buyers are struggling to get their full price offers considered at all. It seems that in the Upper Valley, if you aren't paying over asking...
VA Home Loans: Dispelling Common Myths
The VA Home loan is well know by veterans and mortgage professionals however only 9% of 25 million veterans have taken advantage of the VA home loan. VA Home loans are offered exclusively to our nations veterans, active duty members and reservists. Understanding the...
Loan Limit Changes: What You Need to Know!
The FHFA (Federal Housing Finance Agency) announced the new 2022 loan limits for mortgages through Fannie Mae and Freddie Mac conforming loans. What are loan limits? Conforming loan limits are a requirement from HERA (Housing and Economic Recovery Act) to ensure that...
Legacy Mortgage Heart & Home Community Fundraiser
This October Legacy Mortgage hosted the first annual Heart and Home Community Fundraiser. This event brought together partners in the mortgage industry as well as clients to gather donations for the Listen Center Community Services. Guests brought cash donations...
VA Home Loan: Your Guide to How it Works
The VA Home Loan is a program offered specifically to United States military veterans, reservists, active duty members and their families. This program is designed to help make home ownership possible for our service men and women. A VA home loan features no down...
Upper Valley Real Estate – 8 Tips to Get Your Offer Accepted
A real estate market is considered balanced when there is an equal number of buyers and sellers. A balanced market makes it possible for buyers to find a home they like and sellers are able to get a fair asking price in a reasonable time frame. In contrast there are...