Category: The Mortgage Process

Credit Report Pulls and Lender Calls

We’ve run into an annoying issue lately that we want to take some time to address. Borrowers are coming to us saying that the minute we, or another lender, have pulled their credit, they get other random lenders calling them or texting them–sometimes with aggressive sales tactics! We want to make it clear that we…

All About Credit Scores!

Is this the year you plan to buy a house? With the new year upon us, many may be trying to get their ducks in a row in preparation to purchase a home in 2023! We want to get ahead of that and provide valuable information that we get asked about all the time. Credit…

What Can I Do Now to Prepare to Buy a House?

If you’re looking into buying your first home, even if you’re not ready to pull the trigger yet, first things first, reach out to a lender or a Realtor! It’s NEVER too soon to start a relationship with a Realtor and a lender. These professionals can help coach you to a successful purchase. From a…

How do I get a mortgage?

Step One: Pre-Approval The first step towards homeownership is to talk to a lender for a Pre-Approval. RMN offers many options to best work with you and your schedule: in-person appointment with a lender, online, or via phone/email. A lender will help you determine which loan program will best suit you and your situation. In…

Fixed rates man holding blocks with house

Adjustable Rate Mortgage – A Trick or a Treat?

It’s no secret that all of us at RMN are passionate about offering fixed rate financing for our borrowers. However, it’s important for you to understand exactly WHY we are such proponents of fixed rates. After all, “What’s the harm if I get an adjustable rate mortgage (ARM) from my local bank? It has the lowest…

How to Choose a Loan Program

Which Loan Program Should I Choose? Does the idea of deciding on a home loan make your head spin? You may have questions like these: Why would someone choose a Rural Development loan (USDA) over a Conventional Loan? Why did my other lender tell me the VA loan isn’t the best option for me? What…

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…

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…

Get Fixed Rate Financing for Your Condo

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 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 condo…