March 15, 2018

Closing costs are the fees you pay at the closing of your home loan. The amount will vary and includes a combination of appraisal, inspection, title, and administrative costs such as those from your loan officer or broker.

When you apply for a loan, you'll want to ask a...

March 8, 2018

Struggling with finances is hard enough, but when you also fall behind on your mortgage payments, the stress multiplies. Going into foreclosure is the consequence of defaulting on your home, but it doesn't have to happen to you!

We understand that your house is more tha...

March 1, 2018

A loan modification is different from a refinance. Loan modifications work by changing the terms of your original loan. These changes can be temporary or permanent, depending on the type of modification.

A refinance, on the other hand, is a new loan with all new terms....

February 22, 2018

Is refinancing your 30-year mortgage a good idea? 

That's the question we've been getting lately. It's no wonder! Current mortgage rates are excellent, making homeowners take a second look at their existing home loans. 

If refinancing your 30-year mortgage to lower your...

February 15, 2018

You'll likely hear the term ‘hazard insurance’ when you're applying for a home loan. Hazard insurance is not a separate insurance policy but rather part of your homeowner's insurance policy.

How much coverage and the cost of coverage varies, but every mortgage will requ...

February 8, 2018

Congratulations! Deciding to buy your first home is exciting --although, we understand that sometimes it can be confusing. 

That’s why we make applying for a home loan fast and stress-free. And with some preparation, it can be even faster! 

Look over the checklist to see...

February 1, 2018

You have several options for commercial loans, however, we're going to focus on buying an apartment complex with a Fannie Mae loan. 

Fannie Mae is a popular government-backed loan with rates that are typically lower than other property loans. This mortgage program can b...

January 25, 2018

A permanent home for your children is possible, even if you’re a single parent with limited income. 

Housing programs for low-income borrowers make it easy for single parents to get a home loan. "Low-income" can vary depending on the area. So even if you think you don’t...

January 16, 2018

Tapping into your home's equity is often your smartest and fastest solution to life's biggest expenses, and as a homeowner, equity may be your most significant asset. 

Your home equity the value of your home less the balance still owed the loan. Your equity in...

January 10, 2018

Home inspections have benefits whether you're the buyer or the seller. However, this article will focus on the basic benefits to you as a homebuyer. Home inspections come at an additional cost, however, in the end, a thorough review of your prospective home could end u...

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Simple Ways to Lower Closing Costs

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AFC Mortgage Group NMLS# 2801  |  Frank Ciambriello NMLS# 4757

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AFC Mortgage Group, LLC

Monroe, CT 06468