Note: This blog was originally published in August 2013 and has been updated.
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.
*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.
LINTHICUM, MD, February 6, 2020 —NFM Lending is proud to announce industry leader, Lindsay Poe, will head their new division, BluPrint Home Loans, based in California. Under Lindsay Poe, and with her extensive knowledge of the mortgage industry, BluPrint will further expand NFM Lending’s top-of-mind approach to customer service and lending capabilities through a continued focus on technology, company culture, and the personal touch in home lending.
“Our partnership had to be with a lender who would not only support our commitment to provide the very best service and experience to our clients and employees, but also shared our values and vision,” said Lindsay Poe, Division President. “NFM Lending fits those requirements as a Top 35 nationally-ranked lender that is continually recognized for their culture and dedication to employees. Their 22 years of lending experience, robust in-house support, cutting-edge technology, and direct relationships with Fannie Mae, Freddie Mac, and Ginnie Mae will allow BluPrint to offer the perks of a major national lender without sacrificing the boutique experience our clients and employees have grown to expect and appreciate.”
“We are thrilled to announce our newest partnership with BluPrint Home Loans,” said David Silverman, Founder and CEO of NFM Lending. “Lindsay Poe and her team of highly professional and experienced mortgage leaders bring a new brand and geographic footprint to the NFM Lending family. We have been looking for a great partner in California and Texas, and with BluPrint, we have found the perfect match. We look forward to helping BluPrint grow in their key markets and provide smooth and memorable experiences for their customers and referral partners.”
BluPrint’s goal is to be an active participant in the local communities it serves. They will combine their best-in-class service to their clients and referral partners with low rates and access to a robust product offering. This unique combination will allow them to operate without the overhead costs of the big brands while not sacrificing quality and commitment to serving their clients. The BluPrint Team leverages NFM’s technology platform to gain efficiencies in its loan process while retaining the individual Loan Officers’ ability to be a trusted advisor to their clients. BluPrint believes in putting the consumers’ wants and needs at the forefront of every transaction and remains dedicated to the financial success of the individuals, families, and communities that it serves.
“This is a great fit for us,” said Hans Stone, Division Director of Sales, EVP. “NFM Lending provides a level of clarity that is refreshing and invigorating. Rather than “this is how we do it,” it’s a “how would you like it to work” culture. It’s a partnership with a “can do” attitude and is in constant pursuit of improving processes for peak performance in efficiency and customer service. At BluPrint, we have deviated from the premise of a “one size fits all” mortgage. People are unique, and the same is true of their mortgage needs. By utilizing unique technology, surrounded by the most experienced professionals in the industry, we are able to create a custom mortgage to meet specific homeowners’ needs at a very low cost and without compromising the quality of service.”
BluPrint Home Loans will focus its lending platform throughout California, Texas, and beyond offering Conventional, FHA, VA, USDA, FNMA, Jumbo, and many other loan options to fit every borrower’s needs. They are currently seeking qualified Mortgage Loan Originators for full and part-time positions. Hear from industry leaders to find out why they are excited to be a part of the BluPrint team.
“Throughout my 22 years in this business, I’ve never had the support that Lindsay and the team provides. She gives me a voice and really listens to my feedback, and she isn’t afraid to implement new ideas from the field.” – Ginger Smith, Branch Manager
“BluPrint Home Loans has offered me the opportunity to build a career with a group that has a true passion and believes in the meaning of teamwork, resulting in positivity that spreads out to the clients we help daily.” – Kristin Norris, Division Processing Manager
“I enjoy BluPrint’s collaborative approach to each loan. I love coming to work each day, working with a team to achieve a common goal, and knowing that I am helping to make a difference in the community through lending. This really inspires me to do more!” – Brian Paris, Branch Manager
“Lindsay and I originally connected three years ago, and I’ve watched how successful she’s been during that time. She hires the best and smartest, and I simply had to be a part of her team and her future successes!”
– Pat Cox, SVP Operations
“BluPrint Home Loans offers a unique formula for success. The combination of technology, team, products, and accountability is unrivaled. It is so exciting to be a part of a team that represents the future of the mortgage business!” – Dan Borg, Division Production Manager
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 3, 2020—NFM Lending is pleased to honor Sergeant Eric Houck as the NFM Salute for February 2020.
Houck joined the U.S. Army in May of 2013. He was stationed at Fort Campbell in Kentucky until he was deployed to Peka Valley, Nangarhar Province, Afghanistan as a forward observer in the 101st Airborne Division. On June 10, 2017, Houck and two other soldiers were attacked and killed by an Afghan soldier. Houck had just two months left before returning home. He was only 25 years old.
Houck graduated from Perry Hall High School where he met his wife, Samantha, when he was 15. They had two children: “EJ” and Violet.
Discussing why Eric chose to join the army, his father, Mike, stated, “He could probably have achieved anything he wanted to, but he felt this was his way to take care of his family.”
Houck posthumously earned the Bronze Star Medal, Purple Heart, Combat Action Badge and Army Commendation Medal with a second oak leaf cluster for his end-of-tour awards.
Houck’s mother, Lisa, touched on the impact of losing her son and becoming a Gold Star parent.
“Sometimes I honestly still feel like we are alone, but when people like you and your organization decide to honor Eric, that makes me feel like we’re not alone. I don’t want to say that it’s upsetting, but people can just go through their normal day. It’s hard to go through our normal day because it’s a loss, it’s a heartache that will never heal. You try to find things that make you happy and it’s really hard to because you’re just missing such a love that was a part of you. It will never heal…but Eric’s alive in us, because we have him in our heart.”
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.
NFM Lending is proud to donate $2,500 to The Gary Sinise Foundation on behalf of Eric and the Houck 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 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.
When you are starting the homebuying process, you’ll hear many real estate and mortgage industry terms that may sound the same. Two terms that often get confused for one another are “prequalified” and “preapproved”. What exactly is the difference between “prequalification” and “preapproval”? Both can be used to gauge your creditworthiness to be approved for a mortgage, but they are not the same thing. You should understand the difference.
Prequalification
Getting prequalified for a mortgage is a smart first step when you’re considering buying a home. A mortgage prequalification is when you provide basic financial information (such as your income and assets) to get a rough estimate of how much you may be approved for. You can get prequalified by speaking with a lender or even by going online. If you’re unsure of which lender to go with or how much of a loan you can expect to be approved for, prequalification is a good place to start.
Preapproval
Preapproval is a more formal version of prequalification. You’ll need to give your lender more in-depth information about you and your finances, such as proof of ID, W-2 forms, and pay stubs. The lender will also perform a credit check, so make sure you’re practicing good credit habits in the meantime. Once the lender determines how much you can be approved for, you will receive a letter stating so. Having a preapproval letter will be an asset when making an offer to a seller; it lets them know you’re able to obtain a mortgage and that you’re a serious buyer. Additionally, when you have a more concrete idea of how much you can afford, you can be a more informed buyer when searching for homes. A preapproval letter will only be good for 60-90 days, after which you’ll need to repeat the process to get an updated figure. Even though a preapproval isn’t a guarantee of loan approval, having it can expediate the process and will give you an advantage when you’re ready to present an offer.
Prequalification is a sensible jumping-off point when you start your homebuying journey, but it’s merely an informal way for you to see how much of a loan you might be eligible for. It holds no real weight when you’re on the market for a home. A preapproval, on the other hand, will give you firmer numbers to base your choices around and makes you a more attractive buyer to sellers.
If you’re ready to sell or buy a home, you will need a competent real estate agent to guide you through the process. With so many agents out there, how do you know which one will be the best for you? Much like dating, you may have to try out different people to find an agent who “clicks” with you. Read on to learn how you can find a good match.
Most real estate agents will have an online presence in some way, whether they have a profile on their realty page or are active on social media. Read the ratings of several agents who pique your interest. If the reviews are generally positive, that’s a strong indication that they have the skillset of a strong salesperson. Searching for agents on real estate sites is a quick and easy way to pinpoint local representatives and to request more information on their services. Some reputable sites to begin your search include Realtor.com and Zillow.
Your friends and family members may be the best source for getting recommendations on which agent to choose. There is nothing more valuable than a word-of-mouth appraisal, and a real-life referral will give you more detail than any online review can. Other agents are also a rich source for referrals. If you’re interested in a niche market or are moving to an unfamiliar area, contact your previous agent and see what connections they have.
As a client, you have every right to interview potential agents to find out more about what they have to offer. It’s wise to interview at least three to build a pool of candidates. Being able to meet face-to-face will allow you to ask detailed questions about their experience and get a feel for their personality. Make sure you discuss how they usually communicate with clients; an agent that primarily emails might not work for you if you prefer to text. Additionally, feel free to ask for and follow up with their references. During the buying and selling process, you will be frequently interacting with your agent, so your compatibility with them should not be overlooked.
Another good way to meet real estate agents is to attend open houses. Going to open house events will allow you to assess how the agent interacts with potential buyers and how knowledgeable they are about the house they’re showing. You’ll be able to see them in action and decide whether you would want to work with that person. Many people find their next agent at an open house, so give it a try!
You don’t have to feel overwhelmed or lost when trying to find a real estate agent. There are several ways to weed out those who might not be a good fit for you, though you will need to do some research to discover whose personality and expertise will fit your needs. A reliable agent is indispensable regardless of whether you are buying or selling; you’ll be glad to have a consultant by your side.
Since our 12th annual Support Our Troops Drive in 2019, we’ve received great letters from soldiers stationed around the world. In November, we sent 250 care packages to 125 groups of soldiers. Today, we continue to send 4 care packages every month as a small way to show our troops how much their bravery and sacrifice is truly appreciated. Please enjoy the correspondence we’ve received from U. S. military personnel.
“On behalf of CTG 56.3, we wanted to thank you for the care packages you’ve sent our way. The supplies inside go a long way and are helpful and useful. It’s great getting these items, especially when a letter like yours is included, as it’s a nice reminder of home and that there are people back home who haven’t forgotten the service members overseas. If there’s anything we can do within our scope in return, we’d be happy to see what we can do. Thank you!”
“I just wanted to say thank you for the care package and the Marines and Georgians here greatly appreciate it as well. We know that it takes a special person to take time out of their day to go out and purchase these items then have to box them up, go to the post office and ship them out to us. It’s the little things that keep us going such as a care package from someone back in the states thinking about us and we are genuinely ecstatic that you have chosen us to send to. All the items you sent to me will be used by the service members that I work with. I would like to say again that words can’t express the gratitude that we have for you to take time out of your day to send us care packages while we defend this great nation.”
“Season Greetings, Happy Holidays, Merry Christmas, Happy New Year! OUR SOLDIERS have greatly appreciated the love and effort put into these care packages while we’re overseas away from home. We greatly appreciate all the care packages and the cards and letters.”
“I wanted to take a moment to thank you all for your thoughtfulness and consideration. I was pleasantly surprised to find your packages in our mailbox and was eager to share. I brought the boxes back to our planning room, yelled out for the rest of the crew to come around the table and help open them up. Even if those boxes were empty, just the simple act of opening a gift from someone back home is reward enough. It’s definitely a rewarding feeling to witness the positive reaction when the soldiers not only see the contents of the packages but read the letters that you all send. I took some time to create a little “morale zone.” Anyone who walks by will not only be able to take advantage of the care packages but will also be able to read letters from back home. Thank you again for all your support.”
LINTHICUM, MD, January 2, 2020—NFM Lending is pleased to honor Sergeant Danny Austin as the NFM Salute for January 2020.
Danny served in the U.S. Air Force from 1969 to 1981. He served three tours in Vietnam, treating wounded soldiers as a Rescue Medic. For his own peace of mind and to avoid his parents worrying about him, Danny kept his location a secret by having friends mail letters home from other places. He didn’t come clean until 15 years later when he could no longer suppress the memories and emotions.
Vietnam took a toll on Danny both physically and mentally. He not only suffers from tremors, but also severe PTSD. Explaining how it impacts his daily life, Danny says:
“Sporadic stress; little things can set you off. I still cringe every time I hear a helicopter going over and I still cringe every time I hear a siren coming. Fireworks used to be such a pleasure when I was a child, but I don’t enjoy them anymore because it has that percussion sound that I don’t think ever leaves your ears.”
However, thanks to Sophie’s Companions for Veterans, his life has recently changed. Danny received Duke; a rescue dog that will be trained for service to assist with his disabilities. The bond between them was instantaneous. For the last five years, Danny has been unable to have a good night’s sleep but slept completely uninterrupted the first night with Duke. Danny’s wife, Judy, has also benefited from Duke. She suffers from anxiety after recently recovering from a long battle with cancer. She feels much calmer now. Danny says their future is bright with Duke there to help them heal.
To any soldiers who might be suffering from depression or PTSD, Danny would like to send the following message:
“What you go through is a balancing act. I was pretty good for a lot of years of just pushing it all back and not letting it affect me, but it somehow manifested itself back up to the surface. Getting into the American Legion and helping other veterans, seeing their difficulties and seeing so many suicides, it made me open up and seek help. I wish more veterans would do that. For any veteran –no matter what state, county, or wherever you live– there’s a place to reach out called Veterans’ Services. These people are sent from God because they bend over backwards to let you know what’s available to you. They’ll let you know what compensations are available to you. They fight for you.”
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 make a donation to a military or Veteran non-profit in the Salute’s name.
NFM Lending is proud to donate $2,000 to Sophie’s Companions for Veterans on Danny’s behalf. 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 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.
New Year’s is an ideal time to make resolutions to hit the gym, eat healthier, and make better choices. For many homeowners, the process of making their home marketable can feel overwhelming, and the prep stage often gets put on the backburner. Why not resolve to make 2020 the year to get your home ready to go to market? Here are some ideas to get you started.
A clean home is a happy home! Use the new year as an excuse to really give your home a deep clean and get rid of unnecessary items. When your home looks clean, it gives a positive impression that you take care of your property. Along with eliminating your home’s dirt and grime, take a moment to go through your belongings and get rid of things you don’t need anymore. Try starting with one room and sift through it thoroughly. Beginning the cleaning process now will not only make your house less cluttered, but will also reduce the amount of packing to be done once your home is sold.
Despite the popularity of house flipping reality shows, many people will not be attracted to homes that need heavy repairs or upgrades. A home that needs major fixes means the buyer will have to invest even more money into the purchase, and that can make a sale less likely to happen. If you needed another reason to get problem areas fixed, improving utility issues can increase your home equity. Take action to get everything in your home in working order before it opens to prospective buyers.
The exterior of your home is the first thing buyers will see when your home is on the market. If they aren’t intrigued by the outside, they may not want to look at the inside, either. You don’t need to do any fancy landscaping, simply mowing the lawn and trimming overgrown vegetation can do wonders. Additionally, consider giving your house a fresh coat of paint if it’s looking faded.
Before you officially declare your home for sale, it’s important to find a realtor who understands your needs and can help you get the best price for your home. An experienced agent will be able to guide you through the selling stage and know how to market your home. You may have to try out a few agents before you find one that’s a good fit for your situation, but having a competent agent is well worth the search.
Figuring out how much your house is worth and how much you could potentially make from a sale can be a bit confusing. Work with your agent to perform a competitive market analysis to get an estimate of your home’s value. Once you have an idea of its value, you and your agent can discuss an ideal selling price. Finding that sweet spot for your asking price will help optimize future profits and attract buyers.
Don’t feel like you need to fulfill all these resolutions at once. Start with one and make it your goal to work your way through them. In no time, your home will be ready to show off to prospective buyers. What better way to start the new year than to make your home the best it can be!
LINTHICUM, MD, December 19, 2019— NFM Lending is pleased to announce the successful completion of its first Toys for Tots drive. From December 6th to December 17th, NFM Lending collected toys to assist under privileged families during the holidays. This year, NFM Lending provided the Anne Arundel County Toys for Tots with more than 50 toys, games, stuffed animals, and more for local children.
“It’s in NFM Lending’s DNA to give back to the community,” said Madison Grey, HR Director and team lead for the drive. “Part of our NFM C.A.R.E.S program focuses on encouraging the development and wellbeing of families. For us, this means so much more than just assisting them in buying a home. We are especially fond of Toys for Tots because it allows us to bring surprise and wonderment to the children of families in need.
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, December 9, 2019—NFM Lending is proud to announce that it was named a Top Workplace in the Baltimore area by The Baltimore Sun. This is the eighth consecutive year that NFM Lending has received this honor.
Each year, The Baltimore Sun distributes a survey to employees of Baltimore area workplaces. The survey analyzes the job satisfaction and engagement of the employees along with the values and organizational health of the company.
“NFM doesn’t speak about culture, we live it,” said Jan Ozga, President of NFM Lending, “This is NFM’s eighth year in a row receiving this acknowledgement. Our borrower and referral partner experiences begin and end with the employees of our NFM Family. Our primary focus is to continue to foster a culture of family and employee innovation that sets us apart from any company.”
NFM Lending prides itself on its exceptional culture. The company fills the employees’ work environment with encouragement and teamwork, building a positive workplace that rewards both commitment and performance. Employees are also encouraged to voice their questions and concerns directly to management so that they can be addressed promptly and correctly. Managers often surprise staff members for their birthdays, and the company holds contests, holiday celebrations, and other initiatives to encourage collaboration and show employees their appreciation.
In addition to this most recent award, NFM Lending has been recognized many times for its exceptional company culture and service. It has been named one of the Washington Post’s Top Work Places in the Washington, D.C. area for the last five years. Also in 2019, it was named as one of Mortgage Executive Magazine’s 50 Best Companies to Work For, as well as a finalist for the Baltimore Business Journal’s Best Places to Work. NFM Lending is proud of each member of its team and the work they do to make NFM a Top Workplace.
About NFM Lending
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.
“Our partnership had to be with a lender who would not only support our commitment to provide the very best service and experience to our clients and employees, but also shared our values and vision,” said Lindsay Poe, Division President. “NFM Lending fits those requirements as a Top 35 nationally-ranked lender that is continually recognized for their culture and dedication to employees. Their 22 years of lending experience, robust in-house support, cutting-edge technology, and direct relationships with Fannie Mae, Freddie Mac, and Ginnie Mae will allow BluPrint to offer the perks of a major national lender without sacrificing the boutique experience our clients and employees have grown to expect and appreciate.”
“We are thrilled to announce our newest partnership with BluPrint Home Loans,” said David Silverman, Founder and CEO of NFM Lending. “Lindsay Poe and her team of highly professional and experienced mortgage leaders bring a new brand and geographic footprint to the NFM Lending family. We have been looking for a great partner in California and Texas, and with BluPrint, we have found the perfect match. We look forward to helping BluPrint grow in their key markets and provide smooth and memorable experiences for their customers and referral partners.”
“This is a great fit for us,” said Hans Stone, Division Director of Sales, EVP. “NFM Lending provides a level of clarity that is refreshing and invigorating. Rather than “this is how we do it,” it’s a “how would you like it to work” culture. It’s a partnership with a “can do” attitude and is in constant pursuit of improving processes for peak performance in efficiency and customer service. At BluPrint, we have deviated from the premise of a “one size fits all” mortgage. People are unique, and the same is true of their mortgage needs. By utilizing unique technology, surrounded by the most experienced professionals in the industry, we are able to create a custom mortgage to meet specific homeowners’ needs at a very low cost and without compromising the quality of service.”
