Breanna Devlin, Senior Mortgage Broker, NMLS 1510118

Breanna Devlin, Senior Mortgage Broker, NMLS 1510118 Helping you buy, refinance and invest with confidence. Simple, clear, stress-free mortgage solutions. Free consultations with personalized strategies.

🚫 The 1% Refinance Myth 🚫You may have heard, “Only refinance if you can lower your rate by 1%.”That’s outdated advice.In...
09/11/2025

đźš« The 1% Refinance Myth đźš«

You may have heard, “Only refinance if you can lower your rate by 1%.”

That’s outdated advice.

In reality, whether refinancing makes sense depends on your goals, loan size, closing costs, and how long you plan to keep the home—not just a magic number.

Bottom line: Run the numbers, not the myth.

🔑5 Key Factors to Consider When Refinancing Your MortgageThinking about refinancing your mortgage? Here are five essenti...
09/11/2025

🔑5 Key Factors to Consider When Refinancing Your Mortgage

Thinking about refinancing your mortgage? Here are five essential factors to consider before you proceed:

1.Credit Score: A higher credit score can qualify you for better interest rates, making refinancing more beneficial. It's worth checking your score and improving it if possible before applying.

2. Debt-to-Income (DTI) Ratio: A lower DTI ratio increases your chances of approval and can secure you more favorable loan terms. Lenders prefer borrowers with manageable debt levels.

3. Home Equity: The more equity you have in your home, the better your refinancing options. Higher equity might also help you avoid Private Mortgage Insurance (PMI).

4. Closing Costs: Refinancing comes with closing costs, which can be significant. Weigh these costs against the potential savings to ensure refinancing is worth it.

5. Loan Type & Term: Decide between a fixed or adjustable-rate mortgage and consider the length of the loan. Both factors will impact your interest rate and monthly payment amounts.

By carefully considering these factors, you can make an informed decision and maximize the benefits of refinancing your mortgage.


Edited · 9w

🏡 ⚠️Top 5 Home Buying Regrets & How to Avoid ThemStarting your home buying journey? Learn from others to sidestep common...
09/11/2025

🏡 ⚠️Top 5 Home Buying Regrets & How to Avoid Them

Starting your home buying journey? Learn from others to sidestep common pitfalls:

•Skipping Pre-approval: 45% regret not getting pre-approved first. It strengthens your position and sets a clear budget.

•Overlooking Hidden Costs: 33% didn’t factor in all expenses. Remember to account for neighborhood factors that affect value.

•Ignoring Location: Nearly 30% overlooked the importance of location. Consider proximity to amenities and work for long-term satisfaction.

•Forgoing Inspections: 25% faced issues from skipped inspections. Always conduct thorough checks to avoid future repairs.

•Buying for Now, Not the Future: 20% outgrew their homes too quickly. Think ahead about how your needs may change.

Buying a home is a major decision. Be well-prepared to make choices you’ll be content with for years. Need guidance? Let’s connect and find your ideal home confidently!

🔑Key factors that can significantly boost your approval chances:Strong Credit Score: A high credit score (above 700) dem...
09/11/2025

🔑Key factors that can significantly boost your approval chances:

Strong Credit Score: A high credit score (above 700) demonstrates reliability, reducing risk for lenders and securing better rates (Business Insider, National Mortgage Professional).

Stable Income and Employment History: Lenders favor applicants with consistent income and stable job history, ideally with the same employer for at least two years, showing your ability to repay the loan.

Low Debt-to-Income Ratio: Aim to keep your DTI ratio below 36%, with no more than 28% dedicated to housing expenses. This measures your monthly debt against your income and affects loan approval chances.

Substantial Down Payment: A larger down payment, typically 20% or more, reduces lender risk, improves approval odds, and may eliminate the need for private mortgage insurance (PMI).

Sufficient Cash Reserves: Demonstrating financial security through ample savings or cash reserves, enough to cover several months' mortgage payments, reassures lenders.

Focus on these areas to strengthen your mortgage application and improve your chances of favorable terms.

🏠Thinking about homeownership but concerned about the down payment?Minimum Down Payments for Various Mortgage Types:•Con...
09/11/2025

🏠Thinking about homeownership but concerned about the down payment?

Minimum Down Payments for Various Mortgage Types:

•Conventional Loan: only 3% down
•FHA Loan: 3.5% down, ideal for first-time homebuyers
•VA Loan: No down payment required for veterans
•USDA Loan: Zero down payment for eligible rural and suburban homebuyers
•Adjustable-Rate Loan: just 5% down with flexible interest rates

Whether you’re buying for the first time or transitioning homes, we have options to suit your situation! Don’t let the fear of a large down payment deter you from your dream home!

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Nashville, TN

Telephone

+16156367403

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