Julie's Blog

Veteran in uniform signs mortgage paperwork.

VA Updates Home Loan Benefits for Veterans

June 14, 2024

In March 2024, the National Association of REALTORS® (NAR) reached a settlement in a class-action lawsuit that requires NAR to change its brokerage fee rules. This could result in changes to the real estate market. Before that settlement takes effect, VA has announced an update to help ensure that Veterans using the VA-guaranteed home loan…

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Young woman and young man look into each others eyes and hold a chalkboard sign that reads "Our first home." A red box wraps around the image.

Using Gift Funds as a Down Payment

June 3, 2024

So, a family member is ‘gifting’ a down payment on your new home? Lucky you! But before you accept that generous gift, be sure to check with your lender as there are rules and regulations about who can make a down payment gift and how much can be gifted. Source of FundsLenders don’t generally allow…

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Cash-out options

Cash-Out Refinancing

May 29, 2024

When I mention cash-out refinancing to clients, the response is usually the same – “rates are too high” followed by “why would anybody refinance out of a 2% or 3% rate into a 7% rate?”. The right question is not “which is the better rate?” but, rather, “are you in a position where a cash-out…

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Keychain with house and approved stamp on paper

Pre-Approvals vs. Pre-Qualifications

May 3, 2024

As you embark on the journey of buying a home, you’ll likely come across two terms: pre-approval and pre-qualification. While they may sound similar, they serve distinct purposes in the home-buying process. Understanding the difference can significantly impact your experience as a buyer. As your trusted local mortgage loan originator, I’m here to explain these…

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Empowering Homeowners: Refinancing Strategies Tailored for You

Empowering Homeowners: Refinancing Strategies Tailored for You

April 1, 2024

Are you a homeowner looking to make the most of your investment? Perhaps you’ve thought of refinancing but aren’t sure where to start? Fear not! As a seasoned mortgage loan originator, I’m here to guide you through the process and help you discover refinancing strategies that are tailored specifically for you. Understanding Refinancing Refinancing is…

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Mortgage Pitfalls

Navigating the Mortgage Process: Tips to Avoid Common Pitfalls

February 28, 2024

The path to homeownership can be both thrilling and daunting. As a mortgage loan originator with 27 years of experience, I’ve witnessed firsthand the excitement and stress that often come with securing a mortgage. To help you navigate this process smoothly, I’ve compiled a list of common mistakes to avoid during the application and approval…

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FICO Credit Score: Facts vs Myths

December 15, 2023

Myth: FICO is a credit agency. Fact: FICO stands for the Fair Isaac Corporation. FICO was a pioneer in calculating credit scores based on information collected by credit reporting agencies. FICO scores drive over 10 billion credit decisions per year and is used by 90% of all lenders in the US when deciding whether to…

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Private Road Agreements

Private Road Agreements

October 18, 2023

It is nice to have property and decide to share road access, wells, and other amenities with your neighbors. It is the American Way. But what happens when it’s a handshake agreement, and a new buyer may not have rights or may be required to maintain part of the road or driveway they are sharing?…

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The Julie Payton Mortgage Team has prepared a list of common Do's and Don’ts to help ensure a seamless closing.

Borrower Do’s and Don’ts

September 15, 2023

The journey to homeownership is often marked by excitement, anticipation, and the fulfillment of a life-long dream. It can also be fraught with potential stumbling blocks when attempting to secure a loan.

The Julie Payton Mortgage Team has prepared a list of common Do’s and Don’ts to help ensure a seamless closing.

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Step-by-Step Guide to the Mortgage Process

August 24, 2023

Whether you’re a first-time homebuyer or looking to refinance, the Julie Payton Mortgage Team is here to guide you through the mortgage process. In this step-by-step guide, we’ll walk you through each stage, from pre-approval to closing, and how we partner with you to make your homeownership dreams a reality. Step 1: Pre-Approval Before you…

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