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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.


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…

Financing Options for the First-time Homebuyer

We have so much information at our fingertips thanks to technology, but there are still many misconceptions about residential mortgage financing for the first-time homebuyer. Most prevalent is that consumers need a significant amount of cash available to make their first home purchase. There is also a lot of misinformation about credit, debt and qualifying.

Let’s begin with the definition of a first-time homebuyer (FTHB). As counter-intuitive as it may seem, the FTHB as defined by most of the residential mortgage agencies is, “an individual who has not held an ownership interest in a residential property within the…

Building Your Real Estate Portfolio? Don’t Get Scammed

Can you imagine going to close on the new building you’re purchasing to expand your business or an investment property to start your real estate portfolio only to learn that your down payment and/or closing funds have disappeared? It’s hard to imagine, but it’s happening now more than ever. Hackers are infiltrating just about every industry at an alarmingly fast rate and scams are now prevalent in the real estate industry targeting money being transferred during the closing process of a real estate transaction.

This type of scam is known as wire transfer fraud. While scammers use various methods like…

Buying a Home? Why You Need a Pre-Approval

Those searching for a home today will find that property inventory has cratered to a 30-year low and that there are often at least two other rival offers on every home. What can you do to make your proposal more attractive than your opposition?

While “cash is king,” most prospective buyers lack enough of it to waive financing, so most buyers are in need of a mortgage. With the limited inventory, most offers are at list price, or even over. As a result, many real estate offers have become essentially identical. How, then, does a seller distinguish their bid?


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