Mortgage 101

The Loan Process

The Loan Process

Here is an overview of the loan process from start to finish.  This is everything you will need to expect during the mortgage process. Our team will be here to walk you through each part step by step. Pre-Qualification & Pre-Approval During this first consult, we...

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Qualifying Debt to Income Ratios

Qualifying Debt to Income Ratios

A  major factor in qualifying for a mortgage is the borrower's debt to income ratio (DTI). When calculating your debt to income ratio, you first add up all of your monthly minimum debt payments and then divide that by your gross monthly income.  Your potential future...

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For the second time buyers…

For the second time buyers…

Some of my conversations with second time home buyers start off with uncertainty of where they should begin.  Particularly the ones who currently still own their first home.  While some buyers know their plan and just want my assistance making it happen, others want...

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Guidance on locking your rate

Guidance on locking your rate

It's all about risk.  Between the times you start your application and the time you close your  loan, interest rates will do what they always do - change.  At times, the rate of change is exceptionally volatile, even from one minute to the next.  "Locking in" your...

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The refinance process

The refinance process

Searching for information regarding refinancing? I have put together a quick summary of the process from application to closing below. The Application After we determine that a refinance will be beneficial for you, we start the application.  Much like your original...

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Pre-Qualification vs. Pre-Approval

Pre-Qualification vs. Pre-Approval

We often have conversations with our clients regarding the difference between a pre-qualification and a pre-approval.  Some clients believe that these are the same thing.  It is important to know that just because you are pre-qualified does not mean that you are...

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Monthly Mortgage Payment and Cash to Close

Monthly Mortgage Payment and Cash to Close

When it comes down to it, as consumers, we all want to know the bottom line, the numbers.  It is important to understand what you are paying for something and why. Two things that we spend a lot of time discussing with our clients is their monthly mortgage payment and...

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All loans are subject to credit and property approval. Programs, rates, terms and conditions are subject to change without notice. Other restrictions apply. Whitecap Mortgage LLC, 210 S. Mill Rd., Ste. 104, Kennett Square, PA 19348. Phone 484-222-2620. Corporate NMLS#1847550 (nmlsconsumeraccess.com). Licensed by the Pennsylvania Department of Banking and Securities, Delaware State Banking Commission, and Maryland Department of Labor.