LINTHICUM, MD, April 6, 2020 — NFM Lending and its family of companies, including Main Street Home Loans, Bluprint Home Loans, and Freedmont Mortgage Group, are proud to announce 27 of its loan originators have been ranked as the “Top 1% Mortgage Originators in America 2019” by Mortgage Executive Magazine.
Each year, Mortgage Executive Magazine compiles a list of the nation’s Top Mortgage Originators. This list recognizes and celebrates leading mortgage professionals on their service, hard work, and overall dedication to servicing their clients. A minimum of $30 million in personal production is required to be eligible for the honor.
“Congratulations to our top 1% of mortgage originators in the country,” said Jan Ozga, President of NFM Lending. “It’s an honor to work alongside such a talented and dedicated group of mortgage sales professionals. Each year, the number of people from the NFM family who make the list grows, not only as the company gets bigger, but as our top people share their keys to success with others. They continue to be the gold standard – not just at NFM – but across the entire mortgage industry.”
Congratulations to our 27 Loan Originators:
Neil Bourdelaise, Main Street Home Loans
Greg Cowart, NFM Lending
Mario Cua, NFM Lending
Karen Dulmage, Main Street Home Loans
Derek Evans, Main Street Home Loans
Mike Farrell, Main Street Home Loans
Carolyn Flitcroft, Main Street Home Loans
Jane Floyd, NFM Lending
Bryan Harrison, NFM Lending
Craig Kam, NFM Lending
Kevin Murphy, Freedmont Mortgage Group
Peter O’Donnell, Main Street Home Loans
Gustavo Pared, NFM Lending
Brandon Pavlovic, NFM Lending
Brian Pintar, NFM Lending
Matthew Primrose, NFM Lending
Bryan Raiford, NFM Lending
Greg Runyon, NFM Lending
Daniel Sa, NFM Lending
John Savastano, Main Street Home Loans
Salvatore Savastano, Main Street Home Loans
Shane Staples, NFM Lending
Rob Stettler, NFM Lending
Blane Stewart, NFM Lending
Hans Stone, BluPrint Home Loans
Paul Sushereba, NFM Lending
Jessica Uphoff, NFM Lending
NFM Lending is proud of these Loan Originators’ achievements and wishes them continued success.
NFM Lending is a mortgage lending company currently licensed in 41 states in the U.S. The company was founded in Baltimore, Maryland in 1998. NFM Lending and its family of companies includes Main Street Home Loans, Bluprint Home Loans, and Freedmont Mortgage Group. They attribute their success in the mortgage industry to their steadfast commitment to customers and the community. NFM Lending has firmly planted itself in the home loan marketplace as “America’s Common Sense Residential Mortgage Lender.™” For more information about NFM Lending, visit www.nfmlending.com, like our Facebook page, or follow us on Instagram.
LINTHICUM, MD, April 2, 2020 — NFM Lending and its family of companies, including Main Street Home Loans, Bluprint Home Loans, and Freedmont Mortgage Group, are proud to announce 38 of its loan originators have been ranked on the Scotsman Guide Top Originators 2019 list, with three receiving special recognition among the leaders.
Each year, Scotsman Guide recognizes the nation’s top producing mortgage loan originators. Originators can be ranked in any of ten categories, including Top Dollar Volume, Most Loans Closed, and Top Purchase Volume. Each set of rankings is thoroughly audited, making Scotsman Guide the mortgage industry’s “most intensely reviewed, accurate and substantiated rankings of its kind.”
Jane Floyd, out of Tampa, FL, made the Top Dollar Volume category, along with Jessica Uphoff, out of Westminster, CO. Floyd ranked #348 in the category, with Uphoff at #352. Daniel Sa, out of Columbus, OH, made the Most Loans Closed category and ranked #139.
“NFM is proud of all of our high producing loan originators,” said Jan Ozga, President of NFM Lending. “Our average closings per originator nationwide is close to 5 loans. Jane, Jessica, and Daniel continue to set the gold standard in our industry. They are true leaders in every sense of the word and it’s an honor to have them part of the NFM Family.”
There were 6,448 individual submissions for this year’s rankings. To be considered, entrants must either have had at least $40 million in loan volume, or personally closed 100 home loans in the 2019 calendar year. In 2019, Floyd did over $103 million in volume, Uphoff did $102.7 million, and Sa closed 386 loans. New this year, the Scotsman Guide expanded their rankings online, allowing them to recognize many more originators.
NFM Lending would like to recognize and congratulate all 38 loan originators from the NFM Family who made the Scotsman Guide’s lists.
Jane Floyd, NFM Lending (#348)
Jessica Uphoff, NFM Lending (#352)
Daniel Sa, NFM Lending (#674)
Craig Kam, NFM Lending (#1346)
Rob Stettler, NFM Lending (#1350)
Greg Cowart, NFM Lending (#1383)
Hans Stone, BluPrint Home Loans (#1409)
Brian Pintar, NFM Lending (#1448)
Bryan Raiford, NFM Lending (#1541)
Karen Dulmage, Main Street Home Loans (#1658)
Matthew Primrose, NFM Lending (#1719)
Shane Staples, NFM Lending (#2052)
Neil Bourdelaise, Main Street Home Loans (#2202)
Peter O’Donnell, Main Street Home Loans (#2245)
Bryan Harrison, NFM Lending (#2250)
Mike Farrell, Main Street Home Loans (#2562)
Blane Stewart, NFM Lending (#2600)
Derek Evans, Main Street Home Loans (#2601)
Daniel Sa, NFM Lending (#139)
Jane Floyd, NFM Lending (#170)
Jessica Uphoff, NFM Lending (#436)
Rob Stettler, NFM Lending (#693)
Greg Cowart, NFM Lending (#941)
Matthew Primrose, NFM Lending (#1151)
Craig Kam, NFM Lending (#1273)
Shane Staples, NFM Lending (#1323)
Paul Sushereba, NFM Lending (#1345)
Karen Dulmage, Main Street Home Loans (#1441)
Bryan Raiford, NFM Lending (#1490)
Derek Evans, Main Street Home Loans (#1749)
Mario Cua, NFM Lending (#1794)
Blane Stewart, NFM Lending (#1983)
Brandon Pavlovic, NFM Lending (#1988)
Justus Sharp, NFM Lending (#2073)
Bryan Harrison, NFM Lending (#2247)
Bill Lex, NFM Lending (#2458)
Greg Runyon, NFM Lending (#2470)
Brian Pintar, NFM Lending (#2479)
Peter O’Donnell, Main Street Home Loans (#2484)
John Acton, Freedmont Mortgage Group (#2604)
Salvatore Savastano, Main Street Home Loans (#2604)
Neil Bourdelaise, Main Street Home Loans (#2767)
James Serrano, NFM Lending (#2961)
Hans Stone, BluPrint Home Loans (#3110)
John Savastano, Main Street Home Loans (#3356)
Gustavo Pared, NFM Lending (#3403)
Kevin Murphy, Freedmont Mortgage Group (#3566)
Raquel Wilson, NFM Lending (#3583)
Ken Ynes, NFM Lending (#3873)
Tyler Barnett, NFM Lending (#3874)
Jerry Cook, NFM Lending (#4054)
Jane Floyd, NFM Lending (#127)
Jessica Uphoff, NFM Lending (#248)
Daniel Sa, NFM Lending (#283)
Greg Cowart, NFM Lending (#825)
Rob Stettler, NFM Lending (#894)
Matthew Primrose, NFM Lending (#952)
Karen Dulmage, Main Street Home Loans (#968)
Shane Staples, NFM Lending (#1131)
Craig Kam, NFM Lending (#1171)
Craig Kam, NFM Lending (#105)
Bryan Raiford, NFM Lending (#225)
Matthew Primrose, NFM Lending (#226)
Rob Stettler, NFM Lending (#300)
Jessica Uphoff, NFM Lending (#327)
Derek Evans, Main Street Home Loans (#351)
Daniel Sa, NFM Lending (#411)
Gustavo Pared, NFM Lending (#598)
Blane Stewart, NFM Lending (#644)
Nick Mautino, NFM Lending (#667)
Bill Lex, NFM Lending (#704)
David Licciardi, Main Street Home Loans (#806)
Ramon Feliz, Main Street Home Loans (#851)
Jane Floyd, NFM Lending (#857)
Greg Cowart, NFM Lending (#904)
Fernando Rincon, NFM Lending (#910)
Paul Sushereba, NFM Lending (#160)
Karen Dulmage, Main Street Home Loans (#181)
Peter O’Donnell, Main Street Home Loans (#362)
NFM Lending is proud of these loan originators’ achievements and wishes them continued success.
NFM Lending is a mortgage lending company currently licensed in 41 states in the U.S. The company was founded in Baltimore, Maryland in 1998. NFM Lending and its family of companies includes Main Street Home Loans, Bluprint Home Loans, and Freedmont Mortgage Group. They attribute their success in the mortgage industry to their steadfast commitment to customers and the community. NFM Lending has firmly planted itself in the home loan marketplace as “America’s Common Sense Residential Mortgage Lender.™” For more information about NFM Lending, visit www.nfmlending.com, like our Facebook page, or follow us on Instagram.
LINTHICUM, MD, April 1, 2020— NFM Lending is pleased to honor (Ret.) Major Jeremy Haynes as the NFM Salute for April 2020.
Haynes, a native of Albany, Georgia, vowed to serve his country after watching the horrific events of September 11th, 2001 in his high school JROTC classroom. In 2004, he earned a scholarship to Georgia Military College and was later commissioned as a 2nd Lieutenant in the U.S. Army. He deployed to Afghanistan, having to leave his then-pregnant wife, Chelsea, and their two children.
During a mission in Kabul on August 5th, 2014, Haynes was shot four times by an Afghan Military Soldier. At the time, Haynes was serving as aide to Maj. Gen. Harold Greene, who did not survive the attack. Haynes was evacuated to Germany, then Walter Reed Military Medical Center, where he woke up to his wife beside him.
One of the shots was to his back, injuring his spine. He suffered a severed vena cava and 80% of the nerves to his lower extremities, leaving both of his legs paralyzed. Needing multiple surgeries, Haynes faced an excruciating and long recovery. At one point, he wrote, “I WILL WALK AGAIN” on a piece of paper and stared at it every day. After months of physical therapy and with Chelsea encouraging and inspiring him, he finally stood and took his first steps in November 2014. Now, Haynes can stand and walk for short periods of time with the help of adaptive equipment.
Discussing how he kept pushing himself and continues to do so every day, Haynes said:
“I tell myself, “Hey, you have to live on for [Col. Greene], you have to live on for those who can’t be here today, who wish they were. Those who died in a foreign land. They died serving a great country. They need to be honored, and me having pity parties or saying what I can’t do anymore, I told myself, “Jeremy, throw all that in the trash.” Those guys died so you could be here, living and having the freedoms we often take for granted. God has granted you an opportunity to walk on this earth again.”
During his extensive military career, Haynes has been honored with a multitude of awards, including: the Purple Heart, Bronze Star Medal, Defense Meritorious Service Medal, Meritorious Service Medal, Afghanistan Campaign Medal, Iraqi Freedom Campaign Medal, Combat Action Badge, Senior Parachutist Badge, Air Assault Badge, Parachute Rigger Badge, German Jump Wings, and the Norwegian 30K Road Mark Badge.
NFM Salute is an initiative in which one military member or Veteran is chosen each month to be honored as the “Salute of the Month.” Salutes are chosen from nominations on the NFM Salute website, www.nfmsalute.com. The “Salute of the Month” will be featured on the website with a biography and information about his or her service, and NFM Lending will donate to a military or Veteran non-profit in the Salute’s name.
Haynes was a recent recipient of a specially adapted smart home, courtesy of the R.I.S.E. program of the Gary Sinise Foundation. This home will allow Jeremy to live more independently and improve his quality of life.
“The one thing that stood out for me is those few inches in a door,” said Haynes. “For the average person it may mean little, but to me, having those few inches allows me the ability to navigate my wheelchair into my kids’ rooms; to be able to pray with them, kiss them goodnight, read them a bedtime story, and tuck them in. That itself, in my opinion, is the greatest feature of this home.”
NFM Lending is proud to donate $2,500 to The Gary Sinise Foundation on behalf of Haynes and his family. NFM looks forward to the opportunity to continue to honor military and Veterans through the NFM Salute initiative.
About NFM Lending
NFM Lending is a mortgage lending company currently licensed in 41 states in the U.S. The company was founded in Baltimore, Maryland in 1998. NFM Lending and its family of companies includes Main Street Home Loans, Bluprint Home Loans, and Freedmont Mortgage Group. They attribute their success in the mortgage industry to their steadfast commitment to customers and the community. NFM Lending has firmly planted itself in the home loan marketplace as “America’s Common Sense Residential Mortgage Lender.™” For more information about NFM Lending, visit www.nfmlending.com, like our Facebook page, or follow us on Instagram.
Not many people like filing their taxes, but there is a bright spot to completing all those forms: getting that sweet, sweet refund. You can use the money any way you’d like, but why not put it towards having a more financially stable future? Here are some great ways you can get the most out of your tax refund.
Whenever you come into extra money, it’s always a wise decision to pay off any existing debt you may have. Reducing your debt will help improve your credit score, which in turn will make it easier for you to be approved for a mortgage, car loan, or even a job. If you already own a home, put some of the extra cash towards paying off your mortgage. Applying extra payments toward to your debts now will allow you to save money going forward, because you’ll be paying down the principal and any interest that has accumulated. Having less debt not only gives you more financial freedom, but also more peace of mind.
Buying a home involves more than the cost of the actual house, and two such fees you will need to consider are down payment and closing costs. While it might not be necessary to have a 20% down payment anymore, you should still try to save at least 3-5%, and closing costs are typically 2-5% of the home price. Depending on the price of the home you want, this can be a sizable amount of money. If you put your refund towards your house fund and continue to add to it, you’ll soon save enough to cover all expenses of buying a house.
Another practical use for your refund is to finance home repairs or improvements. Most households have at least one feature that needs to be fixed or updated, and you’ll increase your home’s livability by making those needed repairs. Maintaining the upkeep of your home and making improvements can add to your home’s equity. The cost of the upgrade could even be tax deductible; you should speak with a tax preparer to see what you’re qualified to deduct. If it comes time to sell your home, it will only benefit you to already have everything in good shape.
It may be tempting to blow your refund check on a huge TV or an extravagant dinner, but consider investing in your financial future instead. By spending your refund on things that can make positive and lasting changes to your life, you can make your money work for you!
If you have any questions about using your tax return to purchase a home or for home improvements, contact one of our licensed Mortgage Loan Originators. If you are ready to begin the home buying process, click here to get started!
NFM Lending is not a Financial Adviser or Tax Consultant. Please make sure to consult your own Financial Adviser or Tax Consultant regarding the use of your personal tax refund.
LINTHICUM, MD, March 23, 2020—NFM Lending is proud to sponsor the Ronald McDonald House Charities Maryland’s (RMHCMD) 9th annual Red Shoe Shuffle 5k Run and Walk. The event will take place on Sunday, March 29, 2020. This will be the ninth year in a row that NFM Lending has sponsored and participated in this incredible event.
The Ronald McDonald House Charities Maryland is an organization that provides a cost-free ‘home away from home’ for seriously ill children and their families while undergoing treatment. They also work with and help fund programs in the local area that directly improve the well-being of children. Since 1982, the RMHCMD has housed more than 40,000 families from around the world. Money raised from events like the Red Shoe Shuffle has provided RMHCMD the means to build a larger facility to increase the number of families they are able to house. The building opened last spring. They anticipate that more than 2,400 families will come through their doors every year.
NFM Lending is committed to giving back to the communities they live and work in, and the RMHCMD is one of the key charities they support. Participating in the Red Shoe Shuffle is a great way to meet the families and show their support.
“The Ronald McDonald House has a special place in the hearts of NFM Lending employees,” said Madison Grey, Human Resource Director. “We’ve supported this group for many years because of the care and dedication to the children and family members that desperately need help. The Ronald McDonald House is a warm and caring place that families can call home. Thank you for all that you do, and we are proud to run, walk or shuffle in this year’s Red Shoe Shuffle 2020.”
NFM Lending also works with the RMHCMD through their Love Served Daily program. Members of the NFM Family volunteer to help prepare and serve dinner for families staying at the house. This is just one of NFM’s continuous caring efforts to give back to the community throughout the year.
NFM Lending is a mortgage lending company currently licensed in 41 states in the U.S. The company was founded in Baltimore, Maryland in 1998. They attribute their success in the mortgage industry to their steadfast commitment to customers and the community. NFM Lending has firmly planted itself in the home loan marketplace as “America’s Common Sense Residential Mortgage Lender.™” For more information about NFM Lending, visit www.nfmlending.com, like our Facebook page, or follow us on Instagram.
Spring is a season so beautiful and favorable that your house almost sells itself. Though the temperate weather and lovely springtime blossoms makes selling a bit easier, there are many ways you can make the most of the season to show off your home to buyers. We’re letting you in on some tips for how to stage your home during spring.
When staging your home, it’s always a good idea to evoke the current season in a tasteful, unobtrusive way. Perhaps one of the easiest ways to bring spring inside is to place flowers around your home. It doesn’t matter if the flowers are fresh or fake, either type will give your home a pop of color and make it feel more inviting.
It’s hard to go wrong with florals for spring! Try tying your dining area together with a spring-patterned tablecloth or adding some inexpensive throw pillows to accent your sofa. Maybe floral patterns aren’t exactly for you. If that’s the case, you can place leafy details around the home to give rooms a lush look.
Let the sunshine in, literally! Take advantage of the longer days by allowing bright rays to shine through your windows. Be sure to clean both the inside and outside of your windows so they sparkle. Use light-colored curtains to maximize brightness by reflecting light, which will help make the room seem larger.
Consider giving a room or two a fresh coat of paint, choosing a neutral, light-toned color. Not only will this refresh your existing walls, but it will make the rooms feel more spacious and provide a blank canvas so buyers can visualize themselves living in your house.
Whenever you’re letting prospective buyers look at your home, you’ll want to declutter unneeded items and do a deep “spring cleaning” of the whole house. Clearing junk from your house will benefit you once you’re ready to move and aid in depersonalizing your space. Make sure your house is as clean as possible as not to turn off potential buyers.
In the springtime, your yard will play a significant role in attracting buyers. Take time to increase curb appeal by cleaning up any debris from fall and winter, mowing the lawn, and trimming any overgrown shrubs or trees. Add a touch of spring by putting up a pretty wreath and placing a potted plant or two by the front door to welcome visitors. Your front door should make a positive first impression to buyers; give it a new coat of paint if it’s looking dingy. Make the exterior of your house brighter by power washing to get rid of grime that may have accumulated over the past few months.
Staging will help immensely when you’re trying to sell your house, and it’s easy to incorporate seasonal elements if you’re selling during spring. Light-toned colors, springtime accents, and a tidy lawn are the key elements to make your spring staging a success.
If you have any questions or want more information about the home selling process, contact one of our licensed Mortgage Loan Originators. If you are ready to begin the home buying process, click here to get started!
There’s nothing more exciting than finally being able to settle into your new home! Perhaps the least glamorous part of moving in is the actual moving part. Depending on how many belongings you own, moving can be an especially tedious task, not to mention pricey. Let us teach you some tricks on how to save on moving costs.
When it comes to moving, you can never have too many boxes! Don’t spend all your money on new boxes you’ll likely never use again; try asking your friends and neighbors for any empty boxes they may have. With online shopping being so prevalent nowadays, it probably won’t be difficult to find several people willing to give you their empty boxes. Additionally, you can use old newspapers, rags, towels, or clothes to cushion fragile items instead of buying bubble wrap.
Hopefully paring down your possessions has been one task you’ve been working on in preparation for selling your home. You should get rid of items you don’t use or need to reduce how much you’ll have to pack. You can sell your things, give them to friends, donate to charity, or just discard whatever you don’t want anymore. Use this opportunity to start life in your new home without unnecessary clutter!
You can reduce the number of boxes to be filled and optimize loading space by packing strategically. Make the most of every space by exploiting every nook and cranny that you can –leave no gap unfilled! If items can nestle inside one another, stack them together so you’re not packing items individually. Packing is a lot like playing Tetris, it can be tricky but it’s a great way to ignite your problem-solving skills.
Instead of calling a moving service to pick up and drop off your possessions, consider renting a moving truck to save on labor costs. Most moving companies charge by the hour, and hourly fees can build up quickly. Packing, driving, and unloading your vehicle gives you more monetary and scheduling flexibility. For very heavy, bulky, or oddly shaped items (such as a piano), it may be better to hire professional movers. If you’re not moving too far away, ask your family and friends if they’d be able to help you move. Afterwards, treat your “moving team” to lunch for all their hard work!
If the area you’re moving to makes hiring movers or asking for help impractical, using a moving container is an especially smart solution. Simply pack your items in the container, arrange for it to be shipped to your new address, and it will be ready to be unloaded when you arrive. Even if you’re moving out-of-state or far away, you can still save on your home transition.
Moving costs aren’t always the first thing that come to mind after buying a new home, and those expenses are not usually cheap. Even so, there are many creative methods to save on moving costs for when the time comes for your big move!
If you’re ready to move into your future new home, contact one of our Licensed Mortgage Loan Originators. If you are ready to begin the homeselling process, click here to get started
LINTHICUM, MD, February 12, 2020 — NFM Lending is pleased to announce the opening of a new branch in Columbus, Ohio. The branch is located at One Easton Oval, Suite 500, Columbus, OH 43219, and will be led by Senior Vice President and Branch Manager, David Arocho. The NFM Lending branch will focus on expanding NFM’s flexible and powerful lending platform throughout the greater Columbus area to better serve community families with exceptional customer service. NFM Lending offers Conventional, FHA, VA, USDA, FNMA, Jumbo, and many other loan options to fit every borrower’s need.
“NFM has been a company that I have been looking at over the last several years, noticing their growth,” said Arocho. “We love the energy they provide to their office and to Columbus, Ohio. We like that they have a lot to offer when it comes to technology, their marketing, and their growth. The way they present themselves in our industry professionally is going to be a great asset to us and the team, so we look forward to this opportunity.”
“David has an amazing reputation in central Ohio and he’s a true mortgage professional,” said David Silverman, Founder and CEO of NFM Lending. “It will be an honor to have him on our team and we look forward to helping him continue to grow his business and his stellar reputation.”
The branch’s goal is to continue to provide the same commitment and dedication to borrowers, ranging from first time homebuyers to seasoned buyers looking for their next home, a second home, or investment properties.
“We are incredibly grateful to have David join the NFM Family,” said Jan Ozga, President of NFM Lending. “He has been a market leader in the Columbus market for many years. NFM is honored to be finally working alongside David and his incredible team.”
Arocho is currently seeking qualified Mortgage Loan Originators for full and part-time positions.
For more information, please contact:
David Arocho
Senior Vice President, Branch Manager
NMLS# 525328
614-840-5013
darocho@nfmlending.com
www.davidarocho.com
NFM Lending is a mortgage lending company currently licensed in 39 states in the U.S. The company was founded in Baltimore, Maryland in 1998. They attribute their success in the mortgage industry to their steadfast commitment to customers and the community. NFM Lending has firmly planted itself in the home loan marketplace as “America’s Common Sense Residential Mortgage Lender.™” For more information about NFM Lending, visit www.nfmlending.com, like our Facebook page, or follow us on Instagram.
LINTHICUM, MD, February 11, 2020— NFM Lending is proud to announce it was named a Top Mortgage Employer 2020 by National Mortgage Professional Magazine. This is the fifth time NFM Lending has received this honor.
Each year, National Mortgage Professional Magazine surveys employees of mortgage industry workplaces. The survey analyzes a variety of factors that employees find most important, including compensation, management, training resources, and company culture. According to their website, “factors like corporate culture [are] considerably more important.”
NFM Lending prides itself on its exceptional company culture. Their unique culture allows employees to feel more like family than anything else. NFM is dedicated to making employees feel appreciated by regularly recognizing their contributions and celebrating milestones. The company celebrates birthdays and work anniversaries and applauds work ethic through weekly employee spotlights and company value awards. Members of the NFM Family build strong relationships with each other through holiday celebrations, frequent service opportunities, and team building events. NFM has created a warm, fun environment that constantly fosters growth and community.
“Of the many accolades NFM has received over the years, few mean more to this organization than being recognized as a Top Mortgage Employer,” said Greg Sher, Chief Business Development Officer. “Providing a great experience for our clients begins with creating the kind of culture employees want to be a part of. Happy employees deliver the best experiences. When you do that, everybody wins.”
In addition to this award, NFM Lending is consistently recognized for its exceptional company culture. Other awards include: ‘50 Best Companies to Work For’ and ‘Top 100 Mortgage Companies’ by Mortgage Executive Magazine; ‘Top Work Places’ by both The Washington Post and The Baltimore Sun; and “Best Places to Work” by Baltimore Business Journal. NFM Lending is proud of these accomplishments and looks forward to another successful year.
NFM Lending is a mortgage lending company currently licensed in 39 states in the U.S. The company was founded in Baltimore, Maryland in 1998 and this year is celebrating its 20th anniversary. They attribute their success in the mortgage industry to their steadfast commitment to customers and the community. NFM Lending has firmly planted itself in the home loan marketplace as “America’s Common Sense Residential Mortgage Lender.™” For more information about NFM Lending, visit www.nfmlending.com, like our Facebook page, or follow us on Twitter.
Though there are several factors that impact how much you’ll pay for your mortgage, one of the most important is your mortgage interest rate. When you’re preparing to purchase a home, the interest rate you are quoted on the day of your initial inquiry with a mortgage company will be subject to daily or weekly fluctuations, meaning that rate can and will change over time. This is because mortgage interest rates are partially determined by the Federal Reserve and the bond market, which may rise or fall. If you’re ready to buy a home, learn why you should lock in a mortgage rate and when might be the right time to lock.
A mortgage rate lock does what it says it does: it freezes the current rate so it won’t increase or decrease during the lock period. This is a great way to save money in the long run if you see a rate you like. Bryan Harrison, Branch Manager at NFM Lending, commented, “If you have a rate that you are comfortable with and you can afford the monthly payment, you should talk to your Loan Originator and get the lock in writing”.
Lock periods are commonly offered for 30 or 60 days, but you can ask your lender for shorter or longer options. The rate you choose to keep will be honored until the lock period expires. Agreeing to a longer lock period often comes at a higher cost; ask your lender for an estimate on how long closing can take so you can decide on the best lock period.
While the rate lock will be valid during the timeframe, be aware that your rate may change if your credit score drops, you decide to take another loan type, or if there is an issue during the loan’s underwriting. Additionally, because a rate lock prevents you from being affected by rate hikes, it also prevents you from being able to cash in should rates fall. Some rate locks may have a float-down option, which means you can take advantage of lower rates during the lock period; speak with your lender to see if they offer this.
Once you’ve locked your rate, be aware that the rate could be the same for the duration of the loan (a fixed rate loan), or it could change periodically (a variable rate loan). Speak with your Loan Originator about the difference and the benefits of both types.
A rate lock that establishes a monthly mortgage payment you are comfortable with and gives you peace of mind is probably the right one for you. When you encounter a great interest rate, don’t hesitate – lock it down.
If you have any questions or want more information about locking in a mortgage rate, contact one of our Licensed Mortgage Loan Originators. If you are ready to begin the homebuying process, click here to get started!
*Other terms and conditions apply. A 1 point up-front fee may be collected from the borrower at time of lock, which will be applied to the borrower’s closing cost at settlement. Program not available in all areas. Offers may vary and are subject to change at any time without notice.