Are Fixed Rate Mortgages or Adjustable Rate Mortgages better for me?

When you are in the market for a mortgage, one of the many decisions you’ll have to make is whether to apply for a fixed-rate loan or an adjustable rate mortgage (ARM). Both can be beneficial, depending on your situation. Learning the difference between them can ensure you get the right product for your financial goals. Fixed-Rate Mortgages Fixed-rate mortgages (FRMs) are just as their name suggests - loan with a fixed interest rate, a rate that never changes over the course of the mortgage. The obvious benefit of this type of loan is that your monthly payment, as well as your inte...

August 15th, 2018 | Purchasing a Home, Fixed Rate Mortgages, Adjustable Rate Mortgages, Refinancing a Home, Are Fixed Rate Mortgages or Adjustable Rate Mortgages better for me?

Should I Pay Mortgage Points?

If you are buying a home or refinancing, you have probably heard about “mortgage points.” This form of pre-paid interest can save you thousands of dollars over the course of your loan but in many circumstances is not worth the upfront cost. How do you know whether to pay points or not? Here’s a quick guide to help you figure it out. What are Mortgage Points? Mortgage points – also known as discount points - are essentially a way to pay some of the interest upfront on your home loan. One point is equal to 1% of your mortgage amount. For example, one point on a $100...

July 18th, 2018 | Purchasing a Home, Interest Rates, Should I Pay Mortgage Points?

4 Things Every Borrower Needs to Know About Mortgage Brokers

Buying a home in Tennessee, whether for the first time or the last, is an exciting event. Yet before you even take a look at a single home for sale, it is a smart idea to have your mortgage financing lined up. While it is possible to get a home loan directly with your local credit union or bank, the most common mortgage-makers are mortgage brokers. If you are ready to apply for a home loan, here are 4 things you need to know about mortgage brokers before starting the process. A broker is a middleman Mortgage brokers act as go-betweens for you and many different potential lenders. Instead o...

June 20th, 2018 | mortgage brokers, 4 Things Every Borrower Needs to Know About Mortgage Brokers

In Buying a Home, You're Also Buying a Neighborhood!

When You Are Buying a Home, You are also Buying a Neighborhood. It is important to access the last 6 to 12 months of property sales to see the probable current home value.  Also check the percentage of owner-occupied properties versus rental properties.An excellent idea is to knock on doors and talk to the people living in the neighborhood and ask them for their input.  You may be surprised at how honest and insightful people can be about where they live.It is important to either walk or drive around the neighborhood at different times of the day. Check out the schools in the...

August 18th, 2017 | Home Purchase, In Buying a Home, You're Also Buying a Neighborhood!

What is a 1003?

What is a 1003 Loan Application?1 STOP Mortgage wants you to know all about your loan process from beginning to end.The application process from disclosure to your Loan Officer to your making your first payment on your new mortgage can appear to be complicated.  Not to worry, we've over 3 decades of combined experience in making it EZ for you.  Check out our "5-minute EZ-PreQual" by clicking on the red "Apply Now' button on our home page  You'll be glad you did!Now to the 1003 loan application form, also called the Uniform Residential Loan Application,...

August 4th, 2017 | Application Process, What is a 1003?

5 Reasons Why Your Homeowners' Insurance Bill is So High

5 Reasons Why Your Homeowners' Insurance Bill Is So High  Do you know why you’re paying so much to protect your home? More importantly, have you considered the different ways you could reduce your home insurance rate?  Here in the Memphis area, we have a varied array of homes and neighborhoods and neighborhoods as well as an assortment of credit profiles.  Let's look at your Home's Age and Construction Type, Your Credit Scores and other factors which lend to your Homeowners' Insurance cost.  1 STOP Mortgage has the answers you are looking for!Here a...

July 15th, 2017 | Homeowner's Insurance, 5 Reasons Why Your Homeowners' Insurance Bill is So High


Serving the Great Mid-South Region
Offices: 901-388-1588 or 901-476-9100 |
Fax: 901-388-6202 | Email: info@1stophomeloans.com
1 STOP MORTGAGE | NMLS#215671 | TN Lic#108931 | 5909 Shelby Oaks Dr, Suite 129, Memphis, Tennessee 38134