Thomas Monte
Sr .Loan Officer
| NMLS #15522
Branch NMLS #2603292
(631) 771-0595
tmonte@cmghomeloans.com
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Mortgage News Mortgage Insurance Refinance Market Updates First-Time Home Buyer Conventional Loan FHA Loan Purchase Home Design Selling Budget Financial Planning Loan Process Credit New Construction Home Maintenance Renovation Homeowners Insurance Investment Property VA Loan Down Payment Assistance Taxes All in One Loan Debt Management USDA Loan HELOC Loan Programs BuilderWhy a Mortgage Preapproval is Your First Step in Home Buying
Blog posted On September 07, 2023
Purchasing a home is one of the most significant financial decisions you'll ever make. Whether you're a first-time home buyer or you’ve moved between several homes, the journey can be both exciting and overwhelming. One crucial step that often gets overlooked in the excitement is obtaining a mortgage preapproval.
READ MORELegislative Proposal to Ban Trigger Leads Offers Consumers Hope of Long-Needed Relief
Blog posted On April 27, 2023
Last week, Rep. Ritchie Torres of New York introduced bill H.R. 2656 in hopes of ending the sale of trigger leads, which could greatly reduce the number of unsolicited calls a consumer receives after applying for a mortgage. Oftentimes, trigger leads cause confusion for buyers because they can come from competing lenders who are asking for personal information. Although this bill is still in the early stages, it’s a good (and far overdue) step in the right direction.
READ MORE5 Tips to Help You Choose a Mortgage Lender
Blog posted On September 28, 2022
When shopping around for a mortgage lender, it's important to investigate more than who has the lowest rates. While most mortgage lenders have a lot of the same processes, other factors that can set them apart include the service you receive and the fees they charge.
READ MOREHow Your Rent Payments Can Help You Qualify for a Mortgage
Blog posted On July 21, 2022
One of the biggest obstacles for first-time home buyers is their limited credit history. Credit history is a big factor in the mortgage application process. However, we’re now offering an alternative solution for first-time buyers. With positive rent payment history, we can include your completed rent payments in the application process, which may help boost your overall credit assessment and allow you to qualify for a mortgage more easily.
READ MOREHow to Choose the Best Mortgage Fit
Blog posted On March 24, 2022
Shopping for a home is the fun part. Then comes the mortgage shopping. Conventional loans have long reined as the most popular type of home loan. But there are a few more options out there, such as FHA Loans, VA Loans, USDA Loans, Jumbo Loans, Renovation Loans, and all kinds of specialty programs. Not to mention the different loan terms and mortgage rate options. Deciding on what’s right for you may feel overwhelming, but with these five steps, you can find your perfect mortgage fit in no time.
READ MOREUnderstanding Our Desktop Appraisal Process and Benefits
Blog posted On March 17, 2022
During the COVID-19 pandemic, the top priority for many was keeping distance. Companies sent employees home, restaurants closed their dine-in service, and people began moving out of large cities to more spacious suburban areas. However, in the home buying/selling process, you will often want to take a tour, have an open house, and get an appraisal – all of which typically were conducted in person. But when the pandemic hit, the real estate industry adjusted. Many companies began advertising virtual home tours, e-sign documents, and desktop appraisals.
READ MOREThe Difference Between Prequalification, Preapproval, and Underwritten Approval
Blog posted On January 20, 2022
Buying your first home can involve a lot of different steps and terminology that might not sound familiar. You may have heard of mortgage preapproval. But what about prequalification? And underwritten approval? What’s the difference between these steps? We’re here to break it down for you and help guide you through the process every step of the way.
READ MORE6 Tips to Help You Reach the Closing Table Faster
Blog posted On January 19, 2022
Mortgage lending has come a long way in recent years. You no longer need a 20% down payment and perfect credit score to secure a loan. There are several mortgage options with low down payment requirements and lenient credit score qualifications. What you do need for a smooth closing is honesty, cooperation, and trust. There are many steps in the mortgage process, but the most important factor in each is providing your lender all the information we need.
READ MOREWhat to Expect When You Close on a Home
Blog posted On October 07, 2021
Closing on a home is an exciting start to a new future, and it’s a huge accomplishment. If you’re about to close on a home of your own – congrats! We’re sure you can’t wait to move in and start enjoying life as a homeowner. Before you do, there are a few important steps of the closing process left.
READ MOREWhat is an Acceleration Clause and How Can You Avoid It?
Blog posted On September 09, 2021
Whenever you sign a contract, it’s important to read it thoroughly before signing on the dotted line. It can be a lot of reading, but when there’s as much money involved as a mortgage, you want to make sure you know all the rules. One rule that’s often overlooked in a mortgage contract is the acceleration clause.
READ MORE5 Mortgage Terms Every First-Time Home Buyer Should Know
Blog posted On April 29, 2021
There are several different steps of the home buying process that you might not have seen on Million Dollar Listing. It might feel overwhelming at times, but professionals like a REALTOR® and loan officer can help guide you through the process. According to the National Association of REALTORS® (NAR), 91% of buyers aged 22 to 30 cited a real estate agent as a main source of information when buying a home. Among that 91%, a large majority of first-time buyers had similar questions about these five mortgage terms.
READ MORE10 Questions to Ask Your Lender Before Closing
Blog posted On February 11, 2021
The road from saving for your home to closing on your loan can feel like a long one. By the time you reach your closing date, you will likely be excited to sign the documents, pay the necessary fees, and cross the finish line once and for all. But before you do, make sure you ask these important questions before closing on your home purchase, or even your refinance.
READ MOREMortgage Application Denied? What to do Next.
Blog posted On June 20, 2018
A mortgage application can be denied for a number of reasons. There is nothing more heartbreaking than going through the home shopping process only to have financing fall through. LendingTree reports approximately 8% of mortgage loan applications are denied nationwide. While it’s a setback, mortgage application denial does not have to mean the end of your home search. Taking these proactive steps after having a mortgage application denied can help you with your future home search.
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