The Blog
Fixed Rate Second Mortgage vs. HELOC to Access Home Equity
Accessing Home Equity US home owners are sitting on a close to record 34.5 trillion in untapped home equity according to Bankrate. They estimate that the average home owner with a mortgage has $302,000 of home equity available to them. A common way to access some...
Real Estate Fraud: Protecting Yourself & Your Investments
Understanding Real Estate Fraud Fraud threats have been around for years however it seems as though fraudsters are always changing their tactics and finding new ways to deceive people. The latest incident of real estate fraud is focused on title fraud. Individuals are...
Average Down Payment on a House: Debunking the 20% Myth
It has long implied that 20% is the average down payment on a house. With a 20% down payment lenders will see you as a lower risk borrower and this will prevent you from having to pay PMI (Private Mortgage Insurance.) While there are benefits to having a larger down...
Appraisal Waiver Changes Effective Q1 2025
Fannie Mae has made the announcement that there are changes coming to the eligibility requirements for a value acceptance (also known as an appraisal waiver.) The changes are part of an initiative to balance the need for a traditional appraisal vs. alternative methods...
2025 Conforming Loan Limits & What This Announcement Means For You
The Federal Housing Finance Agency (FHFA) has announced the official loan limits for 2025. The FHFA determined that property values have increased by 5.2% on average from the end of 2023 to the end of 2024. This increase determines the 2025 loan limits so they have...
Deciphering Fed Rate Cuts: A Mortgage Myth Buster
There has been significant buzz recently around the anticipation of Federal Reserve rate cuts. Most people expect the cuts to result in an immediate mortgage interest rate reduction. However the truth is that a decrease in mortgage interest rates can take time and...
The Time to Refinance is Now: Mortgage Market Update
The economic landscape is shifting and the time to refinance is NOW for many! We put together the following market insight to give you an idea of what is happening in the mortgage markets. Refinance Market Insight The key inflation indicator for the FED was flat...
Vermont Transfer Tax Changes – Know Before You Buy
The state of Vermont has made changes to the transfer taxes paid for a real estate sale. The transfer tax change will result in significantly higher tax for those buying a second home however someone buying a primary residence will see a decrease in the transfer tax...
Top Employers: Job Search in Hanover and Lebanon New Hampshire
Relocating to the Upper Valley is an exciting undertaking. Between navigating the fast and competitive real estate landscape in the Upper Valley to searching for a job in Hanover or Lebanon, NH, it can be overwhelming. But the Upper Valley is an area of growth and...
Legacy Mortgage Announces New Partner, Jake Donovan
Legacy Mortgage, LLC is proud to announce a new partner, Jake Donovan. As of January 1, 2024, Donovan has joined existing partners Rob Messenger and Jessica Irwin in leading the Hanover, NH based mortgage brokerage. Veteran Upper Valley mortgage lenders Rob Messenger...
To Support the Refinance Need, Legacy Mortgage Announces LegacyRateWatch.com
Interest rates have been on the rise and recently reached a high that hasn't been seen since the 1990's, according to TIME. We have recently seen a downturn in interest rates. In response, Legacy Mortgage has rolled out an initiative to help Upper Valley residents...
Bank vs. Broker: Which Upper Valley Lender is Right For You?
So you need a mortgage? But who should you work with, a bank or a mortgage broker? There are pros and cons to each and we will break down the options to help you navigate this decision with ease. Broker vs. Bank When you are looking to buy a home you will most likely...
Fannie Mae Update: Down Payment Minimums on 2-4 Units Reduced
Fannie Mae announced a drastic policy change that will go into effect on November 18th 2023. The policy changes the current financing requirement for multi family homes which currently requires a 15-25% down payment for all owner occupied 2, 3 and 4 unit properties....
Vermont Prebate & What it Means at the Closing Table
If you are buying a home in Vermont you might find your purchase impacted by a tax prebate. Understanding what a Vermont tax prebate is, and how it can affect your home purchase can help you avoid surprises during the buying process. What is a Vermont Tax Prebate The...
Buying a Home in Lebanon, NH: Tips for Success
Lebanon, NH is the largest town in the Upper Valley with roughly 15,000 residents. It is also the only city in the Upper Valley. The real estate market in the Upper Valley has been challenging for many home buyers over the past year with high demand and limited...