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Mortgage Tips in 2014

The start of the New Year also means the start of new mortgage rules, and having the right tools and knowledge to help you determine which mortgage is right for you is imperative. With major rule changes in the mortgage industry, we want to equip you with the essentials.

“Qualified Mortgages” have been the major topic in the mortgage industry, and one of the biggest forces of change as well. The new QM rules provides extra underwriting protection for lenders, which ultimately means stricter qualifications for borrowers. This isn’t necessarily a bad thing; Qualified Mortgages provide security for borrowers as well.

Know your borrowers’ rights:
As mortgage rules change, so do your rights as a borrower! Stay updated and be aware of your borrowers’ rights so in a case of an emergency, you will be fully prepared. Check out your borrowers’ rights from the U.S. Department of Housing and Urban Development here.

Maintain a good credit score:
This is just a friendly reminder to always stay on top of your credit score. It is unheard of for anyone to acquire a mortgage loan with bad credit, and it is going to take mortgage specialists such as Perennial Funding to not only assist you on how to repair it, but also help you refinance when all debt is repaired. Make it one of your daily priorities to nurture and monitor your credit score history by tracking your finances and spending habits.

Research all mortgage programs/loans:
There are a variety of mortgage loan programs that may satisfy your mortgage financing needs, but do some shopping before making a final decision. We will be more than happy to assist you with any questions or concerns that you may have. 

Keep track of your finances:
Mortgage lenders are required to verify that their borrowers are more than able to repay their home loan. Lately, lenders have been more attentive to this particular detail of your loan process so make sure to track your finances with every purchase/transaction you make.

The most important thing to remember is to remain calm, cool and collected. At Perennial Funding, we understand that mortgages can be a bit tough, but that is why we’re here for you! Try to focus on finding your dream home and locking in a low rate before rates go up in 2014.

You can also check out our mortgage calculator to manage how much you can afford and save. A mortgage calculator can be helpful by allowing you to review whether the interest rate/mortgage amount is right for you.

Please do not ever hesitate to call us with your questions. That is what we’re here for! Please feel free to fill out our online secure form and one of our loan officers will reach out to you shortly or you can call us at (888)-496-7291.

Perennial Funding Links & Resources:


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Perennial Funding LLC, 161 Washington St. Suite 950, Conshohocken, PA 19428

Loan programs are subject to credit approval. Other terms, conditions, restrictions and fees may apply. All of the information on this website is published in good faith and for general information purposes only. Perennial Funding does not make any warranties about the completeness, reliability and accuracy of this information. Any action you take upon the information on our website is strictly at your own risk and we will not be liable for any losses and damages in connection with the use of our website. The content in this website should not be construed as a mortgage loan commitment. From our website, you can visit other websites by following hyperlinks to these sites. While we strive to provide only links to useful and ethical websites, we have no control over the content and nature of these sites and the links to other websites do not imply a recommendation for all of the content found on these sites. Please be aware that when you leave our website, other sites may have different privacy policies and terms, which are beyond our control. Thank you for visiting Perennial Funding's website.
*By refinancing your existing mortgage your total finance charges may be higher over the life of the loan.

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