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What’s the Best Time to Lock-In Your Mortgage Rate?

Let me start by saying, if I knew in advance when interest rates would move up or down, I would be so in demand that I would not have any time to write this blog. There is no guaranteed way to determine the perfect moment to lock in your interest rate.

You are able to lock your interest rate when you apply for the mortgage. The lock-in window starts for every mortgage consumer when a loan application begins the approval to closing process. Standard industry rate lock periods are 60 calendar days or less from the date of your application….


Is It Time To Refi Your Commercial Property?

On September 18, 2019, the Fed reduced prime interest rates for the second time in 2019. With falling interest rates, you may be considering a refinance of your commercial property. There are many reasons why this could benefit your business. Perhaps you want to look into a cash-out refinance to utilize the equity you’ve been building in your property to use for renovations or other investment activities. Maybe you want to switch from a variable to a fixed rate in order to lock in some financial security. Perhaps you have an upcoming balloon payment that you’d like to avoid….


What Homebuyers Need to Know About Interest Rates

As a home buyer, one of the biggest questions you probably have when looking for a mortgage lender is, “what is your rate?” The answer is there are lots of factors that influence a consumer’s mortgage interest. You have probably heard that the Federal Reserve (Fed), or, Federal Open Market Committee (FOMC), officially cut benchmark interest rates on September 18 for the second time in two months following a 10-year U.S. economic expansion. As a consumer, and specifically a homebuyer, what does this mean?

The Fed’s rate cuts directly impact debt with terms of 10 years or less (“short-term” interest…


Buying or Refinancing a Home? You Need More than a Quick Online Approval

A home is likely the largest purchase you will make in your lifetime. As a long-term investment it will have a significant impact on your financial future. With the Internet at our fingertips, the near-instant gratification of an online quote can be tempting, but acquiring the right mortgage for either a home purchase or the refinancing of an existing mortgage is likely one of the largest financial decisions you will have to make. It is crucial to have support as you navigate this important process which can be cumbersome and complex without the right resources.

The biggest question for homebuyers is which mortgage…


Frank DiMaio Appointed Sales Director of Mortgage Banking

Univest Bank and Trust Co. recently announced the appointment of Frank DiMaio as senior vice president and sales director of its mortgage banking division. In this role, DiMaio is responsible for overseeing the divisions’ sales teams as well as growth strategy, profitability, recruiting and loan quality.

DiMaio brings more than 20 years of experience in the mortgage industry to his role including serving as a regional sales manager for Wells Fargo where he led a top-producing sales team. He is active in his local community and currently serves as President of the Central Perk Youth Association. Additionally, DiMaio coaches his…


Grant for First-Time Homebuyers

Buying your first home can be intimidating. For many, it is the most expensive purchase they will ever make. While most people secure a mortgage to finance the purchase, home buyers are usually faced with needing to contribute to a down-payment and cover closing costs. This can feel daunting, but there are resources to help. Univest Home Loans proudly offers a first-time homebuyer grant program called First Front Door (FFD).

Through FFD, if you qualify, for every $1.00 you contribute, Univest will match with $3.00 of grant assistance, up to a maximum of $5,000. These funds can be…


Interest Rates and the Housing Market in 2019

Carpe Diem! Strike while the iron is hot! Make hay while the sun shines! These timeless adages obviously stress a call to action. Good advice if you are a home buyer or considering a refinance in our current real estate market. Now is the time to act.

In the world of financial markets, things often change abruptly. Just a few months ago, real estate market heavyweights such as Fannie Mae and the National Association of Realtors revealed their interest rate forecasts for 2019 – they were projecting that the average 30-year fixed mortgage interest rate for 2019 would be just…


Make Your Dream Home a Reality with Construction-to-Permanent Financing

Lack of housing inventory continues to be a frustration for home buyers. Rather than stay stuck in your current home or in a bidding war, it might be wise to consider a construction-to-permanent loan which would allow you to build a custom home or tackle a fixer-upper. With this financing in place you can choose the home you want to build or renovate and create something that fits your unique needs and style.

So, how does a construction-to-permanent loan work? It starts by working with one of Univest’s expert construction loan officers to discuss your intent and review your…


Top Five Reasons Loan Officers Choose Univest Home Loans

Let’s face it, it is a challenging time to be a mortgage loan officer. You have to work hard, create a solid business plan and have some serious determination. It is also imperative to work for a mortgage lender that provides the support you need to become, and stay, successful.

Univest Home Loans is the mortgage lending division of Univest Bank and Trust Co. a regional bank with a 142-year history. Headquartered in Souderton, Pennsylvania, Univest has a network of more than 50 offices in southeastern Pennsylvania extending to the Lehigh Valley and Lancaster, as well as New Jersey.

At…


Millennials: Tips to Tackle Home Ownership Obstacles

Millennials are currently between the ages of about 24 to 36 years old, historically the prime age for first-time homebuyers. Lenders are anxious to see millennials embrace homeownership, yet they have been slow to do so. What is keeping millennials from purchasing that first home? There are several factors to consider:

-Many people in this generation watched their parents struggle though the Great Recession and possibly even lose their home during the housing crisis.

-In response to this crisis, the federal government initiated sweeping reforms which have hampered the ability to qualify for mortgage financing.

-Many millennials have chosen to marry…

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