Read the latest blog posts from Paragon Home Loans.
Blog
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Avoid These 5 Common Mortgage Mistakes for a Smoother Homebuying Journey
Posted at: 9/7/2023 12:00 PM
Avoid These 5 Common Mortgage Mistakes for a Smoother Homebuying Journey It’s crucial to navigate the homebuying process wisely. Avoiding common mortgage mistakes can save you both time and money while ensuring a smoother transition into homeownership. Trying to bypass the Preapproval: Skipping the preapproval can lead to both delays and disappointment. Getting a preapproval letter from a reputable lender not only gives you a clear idea of what you can afford but will enhance your negotiating
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Posted at: 4/3/2023 12:00 PM
Mortgage insurance is a type of insurance that protects lenders from losses in case a borrower defaults on their mortgage payments. When a borrower purchases a home with a down payment that is less than 20% of the home's value, the lender may require the borrower to obtain mortgage insurance to protect against the risk of default. Mortgage insurance can take different forms depending on the type of mortgage and the lender's requirements. Private mortgage insurance (PMI) is a common type of mort
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2022 Housing Market Take Aways
Posted at: 1/4/2023 12:00 PM
2022 housing market takeaways and what can be predicted for 2023 The housing market historically has been a fluctuation of ups and downs. 2022 was on a downtrend from a previous hot market. With inflation at a 40+ year high, the Federal Reserve stepped in to raise the fed funds rate, which in turn impacted mortgage rates considerably. The rapid rise in interest rates affected many homebuyers to delay their search as they now become fence-sitters. With uncertainty comes hesitation to make any un
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Starting the Home Buying Process
Posted at: 12/12/2022 12:00 PM
One of the most exciting parts about buying a home is searching and finding the perfect house. Although exciting, homebuyers that jump the gun may find themselves in a load of disappointment. Before searching online or connecting with a real estate agent, buyers need to get preapproved so that they have a good understanding of how much house fits within their budget. The first step in homeownership needs to be talking with a trusted lender. Getting answers on affordability and working out comf
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Posted at: 11/10/2022 11:00 AM
In 1919 President Wilson acknowledged the first Armistice Day to credit all those who served after WWI. Veterans Day is now observed on November 11th in honor of all US Veterans who have sacrificed so much for our freedom. This federal holiday is celebrated once a year, but did you know Veterans have a remarkable mortgage option that is available year-round? A VA mortgage offers incredible benefits such as 0% downpayment, no monthly mortgage insurance, and can be used multiple times throughout
