Blog

Don’t Settle for an ARM, Get Fixed Rate Condo Financing!

Financing for a condo is different than financing for a single family home or a zero lot line. For example, some lenders will only offer an adjustable rate mortgage (ARM) if you’re purchasing a condominium – which could cost you more in the long run! Discover why RMN believes in offering fixed rate mortgage for…

Read More

Let’s Compare: VA vs. Conventional Loans

There’s some confusing information out there about the VA loan program. If I’m an eligible veteran, should I finance my home purchase with a VA loan? Is a Conventional mortgage a better deal for me? Does a VA loan have higher costs? What are the benefits of a VA loan? Spoiler alert: the VA loan program is…

Read More

FAQs about the USDA Rural Development Program

The USDA Rural Development (RD) Program is one of our most asked-about loan programs. With eligible towns in all 99 counties in Iowa, it’s not hard to see why!  What is an RD Loan? USDA Rural Development loans are available to buyers looking to purchase a home in a community with a population of 20,000 or less.…

Read More

Why Choose RMN When the Market is Hot

Why choose RMN when the market is hot?! Plain and simple: You don’t have to do our job! We are efficient, organized, experienced and we care about deadlines. From pre-approval to closing and beyond, we are here for our clients and business partners!  Pre-approvals We issue pre-approvals that are solid! We require documentation up front…

Read More

Closing Costs in Cedar Rapids

Are you thinking of buying or refinancing in Cedar Rapids? Curious about closing costs? We can answer that question! Closing costs are, in general, the costs to get a loan file from application to closing. Down payment is separate from closing costs and is your investment in the property while closing costs are fees to…

Read More

IFA Grants for Iowa Home Buyers

Buying your first home in Iowa can be very expensive and frightening if you have no idea of the available funding you can take advantage of. The entire process would likely include financial conversations and situations you may have never encountered before. Fortunately, the Iowa Finance Authority has created programs for first time home buyers.…

Read More

The Average Cost to Buy a Home in Cedar Rapids

Are you moving to the Cedar Rapids area and entering the market to find your dream home? Here at Residential Mortgage Network, we have been offering residents of Cedar Rapids home loans since 1987, and are ready to lend some guidance! A Little Background on Cedar Rapids Living Cedar Rapids is the second-largest community in…

Read More

Understanding the $5000 Iowa Military Homeownership Assistance Program

Every November, we take time to honor the many servicemen and women who’ve worn the uniform of our armed forces. As veterans, they’ve earned our gratitude and respect. Their service has also earned them access to various veterans’ benefits, which includes home loan guarantees from the Department of Veterans Affairs (VA). This $5,000 grant for…

Read More

Refinancing Your Home: The Pros and Cons

Interest rates are at a historic low and buyers are taking advantage. It’s also the perfect time to refinance! Can’t decide whether or not you should refinance? Take a look at the pros and cons: Pros: Lower Monthly Payment or Loan Term Those who are refinancing now are cutting their monthly mortgage payments by hundreds…

Read More

Tips for First Time Home Buyers During A Pandemic

Buying your first home is one of the most exciting and rewarding journeys in life, but can also be a little scary and overwhelming, especially during a pandemic. Because the housing market has seen enormous growth due to historically low-interest rates, many individuals are looking to buy, sell, or refinance their homes this year during…

Read More