Standard Mortgage Blog

Buying your first home is an exciting endeavor. However, before you start scheduling showings and picking out furniture, the most important part of the process is finding the right mortgage lender for your needs. As a first-time home buyer, you have additional options when it comes to financing, and your loan officer can help you make the best decision for your situation.

When you bought your home, you probably had a lot of questions about the mortgage process and financing your home. Now that it’s been a few years, you likely haven’t given it a lot of thought. However, the lower interest rates fall, the more you may want to consider refinancing your mortgage. A mortgage refinance is the process of taking out a new loan to pay off your original mortgage.  

If you have a fixed-rate mortgage, you can rest assured that you will have steady monthly payments (comprised of principal and interest) throughout the life of your loan. However, as market and economic factors change, the opportunity to improve your mortgage rate or shorten your term may present itself. If the rate that you locked in at closing is higher than current market rates, you may want..