Watch Out: How Easy Is It To Refinance An ARM Loan?
ARM Loans—they’re all the talk right now. But should they be? Before you convince a buyer to take out an ARM loan for their purchase, make sure you both understand the future implications, especially when dealing with refinancing options. We are passionate about putting out correct information, whether you work with us or not, so…Read More
Don’t Trust “Liar” Interest Rates
Interest rates are always a HOT topic, but you need to make sure you are getting accurate information! Yes, rates are important, but there is always fine print! Weekly Rate Sheets Some local competitors send out a weekly rate sheet. Realtors occasionally ask why we don’t send out a rate sheet. It’s a great question,…Read More
Taking the Confusion Out of Buying a Condo
Condos are confusing, aren’t they?! Luckily our lenders here at RMN are some of the best around for dealing with condos! In fact, there has even been the nickname “Condo Queen” given to one of our lenders, Jessica Greving, which honestly just motivates us all to live up to the title! When Jessica began lending…Read More
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…Read More
We are a Banker NOT a Broker – So, What’s the Difference?
Residential Mortgage Network is a mortgage banker, not a broker. There are very distinct “operational” differences which impact the time it takes to obtain a loan approval, making it an important consideration to our customers and business partners. Bankers vs. Brokers A mortgage banking company “makes the loan decision” and is burdened with the risk. A mortgage broker…Read More
Closing: How Does RMN Get It Done in Less Than 4 Weeks?
Residential Mortgage Network, Inc. is a locally owned mortgage bank. What separates us from other lenders is our ability to close your loan in just 4 weeks. How do we do it? We are able to meet quick financing deadlines because we control the process! From pre-approval to loan application to processing to underwriting to closing – it’s…Read More
What FICO version are you using, anyway?
The credit scoring industry is a billion (at least!) dollar industry. Soft pull credit information is what you get when accessing credit score data from Credit Karma, Equifax, Experian, TransUnion, My FICO, the score your credit card or bank gives you, etc. A hard pull is when a lender is actually pulling a credit score…Read More
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
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
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