Rize Mortgage/Susan Maroon-Moede

19/03/2026

24/02/2025

New to the homebuying process? Come with us on our series that outlines every step in detail, from pre-approval to closing!

Step 1 is pre-approval! BUT, what is a preapproval? In order to be approved for a loan, borrowers must provide necessary documentation to be approved for a mortgage loan.

From there, your loan officer will review the documentation, assess your credit history, and then determine your borrowing eligibility! Once everything is vetted and checks out, your loan officer will notify you that you've been preapproved for a home loan!

24/02/2025

Now that you've found yourself with a pre-approval letter from your trusted local lender, it's time to find the loan program that best fits your lifestyle!

During this process, your loan officer will be sure to work with you to not only find the perfect program for you, but also achieve the best interest rate possible to get you into your dream home and also help you achieve financial success!

24/02/2025

It's another which means we have more mortgage education for you!

What is mortgage insurance? It's typically required when a borrower has a down payment of less than 20% of the home’s purchase price. The insurance protects the lender in case the borrower defaults on the loan.

Mortgage insurance doesn’t protect the borrower directly, but it allows many buyers to get loans with smaller down payments, making homeownership more accessible.

24/02/2025

Your credit score isn't just a number, it's a snapshot of your financial health! Take a peek at how it's broken down.

35% payment history: Paying bills on time is key!
30% amount that you owe: Keep balances low compared to your limits.
15% length of credit history: The longer, the better!
10% type of credit : A mix of credit cards, loans, and mortgages can be beneficial.
10% new credit: Opening too many credit accounts could potentially hurt you.

24/02/2025

Step #3 in the mortgage process is when things start to become real!

Your loan officer will send you disclosures and a list of documentation that are needed to proceed with your loan approval, from there, the processor will order income, assets and credit in preparation for underwriting to review! This is getting you one step closer to being a homeowner!

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24/02/2025

Step #4 of the mortgage process is to have your documentation reviewed!

Your loan officer will be assigned a loan processor who will order income, assets and
credit, in preparation for the Underwriting review. Our Underwriting team is a crucial asset to the mortgage process as they examine the finer points and details to secure your loan's approval!

11/02/2025

02/12/2024

📊 LTV = Loan-to-Value Ratio

It's a percentage that shows how much you're borrowing compared to the value of the home. For example, if your home is worth $200K and you're borrowing $160K, your LTV is 80%.

Lower LTV often means better loan terms!