All of us at Benchmark Mortgage Companies would like to wish you a Merry Christmas and a Happy New Year! We would like to thank you for making 2018 a great year and for the privilege of helping you purchase or refinance your home. We hope that 2019 is a year full of happiness, health and prosperity for you and your loved ones. All the best, Benchmark Mortgage Companies
December 19th, 2018 Happy Holidays from Benchmark Mortgage Companies
Although they are not nearly as common today, some mortgage loans do come with a prepayment penalty. Home loan borrowers should be aware of them before signing their names on the dotted line. Here’s what you need to know about prepayment penalties: What is a prepayment penalty? A prepayment penalty is a fee the borrower must pay if they pay off the mortgage loan faster than the agreed terms. They often only apply during the first three years of the loan. Some prepayment penalty clauses also stipulate that a borrower cannot pay off more than 20% of the loan balance each year. Whe...
December 12th, 2018 | Purchasing a Home, Refinancing a Home, Everything You Need To Know About Prepayment Penalties
Everyone needs a helping hand at some point. Benchmark Mortgage Companies is extending a hand to those in need in our community by donating our time and money to United Way of Greater Richmond & Petersburg. Find out more about the cause at www.yourunitedway.org
December 7th, 2018 Invest in Our Community by Giving
As you near retirement, you may be anxious to completely pay off your mortgage and be debt-free before your traditional income stops. In most cases, this is the best plan but there are situations when holding on to your mortgage into retirement may make more sense. Why You Should Pay Off Your Mortgage Being debt-free as you start retirement can make the transition to a fixed-income much smoother. Those who do not have their mortgage paid off yet sometimes have to dip into their investments to make their payments. That can result in higher taxes and less reserves for retirees. An...
Getting pre-approved for a mortgage is a smart step before you go out looking for a home. A pre-approval letter shows sellers that you have already proven to a lender that you have the income and down payment to qualify for a mortgage loan. This allows sellers to take you seriously, especially in a hot seller’s market. Pre-approval can be quick and painless, if you have the right documents lined up. While each lender may require slightly different paperwork, there are at least 4 documents that almost all lenders will need. Income & Employment Documents – All lenders want ...
Thanksgiving is a time to express gratitude to those who make a difference in our lives. Thank you for your continued support of our business; it’s always a pleasure to help you and your family with your mortgage. All of us at Benchmark Mortgage Companies would like to wish you a safe and Happy Thanksgiving. All the Best, Benchmark Mortgage Companies
November 21st, 2018 Happy Thanksgiving from Benchmark Mortgage Companies