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OVM NEWS & RESOURCES

The Ultimate Holiday Gift Guide For New Homeowners

Are you looking for the perfect gift for the new homeowner on your holiday shopping list? This holiday gift guide is full of unique gift ideas to delight your homeowners and make their lives easier. Whether you have a budget of $25 or $250, you’re sure to find something perfect on this list. Here are 17 homeowner-friendly holiday...

December 3, 2020 Read More

Your Guide To Holiday Shopping During The Home Buying Process

The season of giving brings cheer for many, but before the holidays arrive, we need to discuss how holiday shopping can severely damage a credit score. More importantly, buyers with limited credit could receive a credit denial for a home purchase. Talk about “Bah Humbug!” To prepare you for the holiday shopping season, we’ve compiled a few best practices...

December 2, 2020 Read More

What’s The Minimum Credit Score Needed for Mortgage Approval?

If you’ve begun your home-hunting journey, you have probably been made aware of the criteria that will be needed to qualify for a mortgage. Items such as your debt-to-income ratio, employment verification, and, of course, your credit score are at the top of the list for qualification items. But with so many different types of mortgages on the...

November 10, 2020 Read More

5 Answers to Your Questions About Mortgage Interest Rate Locks

When you’re purchasing a new home, it’s easy to get fixated on shopping for the best possible rate. Why? Because just a small rate decrease can lower your monthly mortgage payment and save you some cash! But what if you get prequalified with an attractive rate, and it goes up before you seal the deal on your home?...

November 6, 2020 Read More

How To Accurately Calculate Your Monthly Mortgage Payment

How Much Will My Monthly Mortgage Payment Be? Once you find the home you want to buy, it’s time to break down the costs to see how it will fit into your monthly budget. Many people turn to mortgage calculators for a quick answer, but they often get a vague estimation that doesn’t consider everything. At OVM, we...

November 6, 2020 Read More

Learn How To Protect Your Mortgage With Homeowners Insurance

As with every large purchase, it’s important to establish an insurance policy. Homeowners insurance is no exception. In fact, you need to have a policy ordered before you can close on your new home. Shop for homeowners insurance as soon as you settle on a property to avoid any delays in the mortgage process. To help you insure...

October 20, 2020 Read More

What Factors Determine The Market Value of a Home?

Whether you’re buying or selling, the market value of a home is a top concern. As a buyer, you want to find a house that’s not only a great place to raise your family, but also a good investment. And, as a seller, you want to sell your current house for top dollar so you can maximize your...

October 8, 2020 Read More

Who Contributes To The Mortgage Process Behind The Scenes?

After your application is submitted, your loan is carefully reviewed by key players in the mortgage process. Borrowers don’t always talk to everyone involved, so here’s a look at what happens behind the scenes and who plays a role in your home financing journey! Mortgage Roles and Responsibilities If you’re a first-time homebuyer, you may not know who’s who...

October 8, 2020 Read More

How To Qualify For A Mortgage Using Overtime Income

Purchasing a home can be one of the most exciting times in one’s life! But before you can begin your house hunt, you have to qualify for a mortgage. To do this, we will take a look at several different qualification areas, including income. But what if much of your income comes from working overtime? Let’s take a look...

October 8, 2020 Read More

Tips For Buying a Home in a Seller’s Market

Despite an initial slowdown at the beginning of the pandemic, the real estate market has remained a seller’s market. This means that there are more interested buyers than there are available homes for sale. As a buyer, it may be harder to find your dream home, and once you find it, you may be up against some stiff...

September 15, 2020 Read More

Conforming Loan Limits Will Increase in 2021

Another sign that real estate continues to grow is that the Federal Housing Finance Agency increased the 2021 conforming loan limits by over $37,000. Actually, this makes the 5th straight annual increase. Conforming loan limits apply to conventional mortgages underwritten by Fannie Mae or Freddie Mac guidelines. Each year FHFA considers adjusting limits to reflect the average home...

December 4, 2020 Read More

How Does a Furlough or Decreased Hours Affect Mortgage Approval?

Sometimes, life can happen when we least expect it, including getting furloughed from your job or having a big decrease in your hours. While many individuals dream of owning a home someday, it can be frightening when your source of income suddenly diminishes rapidly. Of course, this isn’t an ideal situation, but it’s important to understand that a...

November 9, 2020 Read More

How To Find Unlisted Homes Before They Hit The Market

Broaden Your Search With Unlisted Homes In a seller’s market, expanding your real estate search to off-market properties can provide you with access to a world of unlisted homes. There are several advantages to pursuing houses that aren’t necessarily listed “for sale,” especially when the demand for homes is high, and there’s a limited selection to choose from....

November 6, 2020 Read More

What You Need To Know About The VA Funding Fee

Buying a home with a VA home loan is a privilege earned by our military service members, but sometimes there’s confusion about the VA Funding Fee and how it works. For instance: What is the VA funding fee? How much is it? Who can cover the cost of the VA Funding Fee? Are there options to lower or get...

September 3, 2020 Read More

How to Buy a Home After Retirement

If you’re like many retirees or soon-to-be retirees, you may be looking to downsize your home or even relocate altogether to a more desirable location to spend your Golden Years. But buying a home after retirement requires a different approach than when you may have purchased a property in the past. To get a better idea of how...

July 23, 2020 Read More

7 Factors That Influence Your Mortgage Interest Rate

When searching for a lender to borrow a mortgage from, most borrowers will gravitate toward the lender that offers the lowest mortgage interest rate. A low-interest rate means a less-expensive monthly payment and the borrower will be saving money over the life of the loan. But understanding how mortgage rates are determined can help a borrower determine several...

July 22, 2020 Read More

What Home Upgrades To Consider As You Buy

Most homebuyers dream of moving into a turn-key home that doesn’t need repairs or upgrades. But if you have a limited budget, you may not be able to afford a home that’s completely renovated. As you’re shopping for a house or deciding what upgrades to make in your new place, it’s important to prioritize so you can stay...

July 22, 2020 Read More

A Home Buyer’s Guide To Negotiation

Negotiation is a delicate process. While you want to get the best deal possible on your home purchase, you don’t want to come in with a lowball offer and offend the seller. To help you understand the negotiation process so you don’t lose out on your dream home or any potential savings, we’ve put together this home buyer’s...

July 22, 2020 Read More

Home Buying in a Virtual World

We’re all about meeting our clients in-person, but it’s not always an option, and flexibility is essential. If you’re on deployment, moving across the country, or unable to meet in person your loan journey doesn’t have to be put on hold. That’s right, technology is changing industry standards and making it easier than ever for home buyers to...

June 30, 2020 Read More

New Construction Homes: Should I Buy or Build?

If you’re in the market for new construction, you may be debating between buying or building your home. Buying a move-in-ready abode can allow a buyer to become an owner quicker, but lacks the complete customization that comes with building your own home. Knowing which option is better is entirely up to your situation. Let’s take a look...

June 8, 2020 Read More

Home Buyer Resources

Conforming Loan Limits Will Increase in 2021

Another sign that real estate continues to grow is that the Federal Housing Finance Agency increased the 2021 conforming loan limits by over $37,000. Actually,...

December 4, 2020 Read More

The Ultimate Holiday Gift Guide For New Homeowners

Are you looking for the perfect gift for the new homeowner on your holiday shopping list? This holiday gift guide is full of unique gift...

December 3, 2020 Read More

Your Guide To Holiday Shopping During The Home Buying Process

The season of giving brings cheer for many, but before the holidays arrive, we need to discuss how holiday shopping can severely damage a credit...

December 2, 2020 Read More

all Home Buyer Resources

Mortgage Industry News

How Will Temporary Unemployment Impact My Ability To Purchase A...

The COVID-19 pandemic has created a record unemployment number in the US. If you’re one of the millions of American’s who have been affected, you...

August 31, 2020 Read More

Buying or Refinancing After Mortgage Forbearance: FHFA Updates

Fannie Mae and Freddie Mac have introduced two new policy changes that will positively impact homeowners in need of financial relief during COVID-19. If you...

May 26, 2020 Read More

Your Guide To Mortgage Forbearance During COVID-19

If you’ve been following the latest coronavirus news coverage, you might have heard that the CARES Act stimulus package is requiring mortgage servicers to allow...

April 24, 2020 Read More

all Mortgage Industry News

OVM News

Conforming Loan Limits Will Increase in 2021

Another sign that real estate continues to grow is that the Federal Housing Finance Agency increased the 2021 conforming loan limits by over $37,000. Actually,...

December 4, 2020 Read More

Matt Beckwith Interview With Jay Hughes of PressOn

OVM Financial’s Executive Vice President, and Scotsman Guide Top Producer, Matt Beckwith sat down with Mortgage and Real Estate Business Coach, Jay Hughes to divulge...

April 8, 2020 Read More

Connor McNulty and Team Join OVM Financial!

Please join OVM Financial in welcoming another fantastic addition to the OVM Family! Connor McNulty and his team set the gold standard for excellent service ...

February 12, 2020 Read More

all OVM News

Real Estate Agent Hub

How To Prepare Your Home For Real Estate Photography

Take a look around your home. Would you say that it is “camera-ready?” Unless you have a knack for interior design and superb cleaning and...

May 11, 2020 Read More

8 Reasons To Hire Real Estate Agent When Buying A...

While it can be appealing to conduct the home buying process on your own, you may want to hire a real estate agent to help...

April 15, 2020 Read More

How to Deal With a Short Appraisal

Everything is going well on your purchase, but then the appraisal comes in short of the sales price. The first reaction to a short appraisal...

November 4, 2019 Read More

all Real Estate Agent Hub