Teresa Castle

Senior Loan Officer

NMLS: 572487

Recent Articles

Dec
01
2021
How Do Mortgage Lenders Decide How Much You Can Borrow?
When you apply for a loan, your mortgage lender informs you of the maximum amount you can borrow, and this will help you get an idea of how much house you can afford. The question most buyers ask is how they reach this amount and what factors influence their decision? Read on to understand the...
Nov
24
2021
How Does a Home Improvement Loan Work?
Home renovations can be expensive, and saving up for extensive improvements could take years. Fortunately, you can fast-track your goals with a home improvement loan.  Home improvement loans allow you to use the equity in your home to fund your home renovation.  Benefits of...
Nov
17
2021
Which One Is Better? An FHA Or Conventional Loan?
Dreaming about your first home purchase but still be undecided on whether to choose an FHA loan or conventional loan? While both are popular choices for those looking for a low down payment, some differences may make one loan a better option than the other.  This article will give...
Nov
10
2021
"How Much Money Do I Need to Buy My First Home?"
Buying a home is one of the most important decisions you can make. Plus, considering current low mortgage rates, homeownership has never been more appealing and affordable.  In this article, we’ll break down how much you need to purchase a new home before the year ends, plus...
Nov
03
2021
Should I Buy a Move-In Ready Home or Fixer-Upper?
Owning a home is still a major part of the American dream. According to a recent survey done by The Harris Poll in 2020, a third of Americans who have never owned a home plan to do so in five years. If you’re a first-time homebuyer, one of the questions you may have is whether to purchase a...
Oct
27
2021
How Does APR Work In A Mortgage Payment
When you shop around for a loan, you may encounter the term APR or annual percentage rate. Some people think that interest rates and APRs are the same, but in reality, there are subtle differences between the two. This article will explain what an APR is, how it's calculated and applied when...
Oct
20
2021
Debunking 5 Myths About VA Home Loans
The popularity of VA loans has soared in recent years, surpassing the 1 million mark in 2020, and is on pace to break that record in 2021. But despite the success of the VA home loan program, there is still some skepticism among prospective homebuyers when it comes to VA loans. Read the top...
Oct
13
2021
Everything You Need to Know to Refinance Your Mortgage
Are you familiar with the benefits of mortgage refinancing?  There are many reasons to refinance your mortgage, like lowering your monthly payments, saving on interest, or simply paying off your loan faster. But before you commit, it’s important you know how...
Oct
06
2021
The Top 4 Reasons to Buy a Multi-Unit Property
Multi-unit investing involves buying properties like apartment complexes, duplexes, condo buildings, or other properties that offer multiple spaces for renting to tenants. They offer great opportunities for building your personal wealth without the day-to-day demands of...
Sep
29
2021
Is A No-Closing-Cost Refinance The Best Option For You?
If you are thinking about refinancing your mortgage but lack the closing costs funds, then a no-closing-cost refinance may be the loan option you need to get it done. Read on to learn more about what a no-cost refinance is and how you can qualify for one.  What Happens In A...
Sep
16
2021
Who Qualifies For A Reverse Mortgage?
A reverse mortgage is a loan for homeowners over 62 years of age who have substantial equity in their homes. With this loan, they can borrow against their equity and get access to cash to pay for any cost-of-living expenses they may have. Rates typically start at less than 3.5% per year, and the...
Sep
09
2021
Discover Your Home Equity Options
One of the pluses of property ownership is the opportunity to build equity. If there's ever a time that you need a considerable amount of cash (such as for paying off debt or a home remodel), you'll have access to it by borrowing against your home equity. That's essentially the purpose of a...
Sep
01
2021
What Does It Mean To Cosign On A Mortgage?
Have you been asked to cosign by someone looking to get a home loan approval? You may be wondering why they would ask or how this affects you. This article will help you to understand both of these points.  Why Were You Asked To Cosign?  These are the top reasons that home loan...
Aug
19
2021
How Much Down Payment Do You Need To Buy A Home?
If you're considering buying a home, you might wonder how much is required as a down payment. Here is a quick run-down of the requirements of the down payment per loan type. Do You Need To Put 20% Down On A House? You'll often hear the down payment expressed as a percentage. For example, a 20%...
Aug
11
2021
Thinking About Refinancing Your Investment Property? Read This
If you own an investment property, you already know that getting a mortgage for this type of property is different than a refi of a primary home. If you recall, the qualifying requirements for getting an investment load are more stringent than a primary home loan.  Let's take a look at...
Aug
04
2021
What is DTI and How It Affects Your Mortgage Application
Ever wonder why it's essential to keep your debt in check when applying for a mortgage or what debt matters to your approval? This article will help you answer these fundamental questions so that you're in a great position to get approved for a home loan. All About Debt-To-Income Ratio...
Jul
21
2021
Prequalified And Pre-approved: What's the Difference?
If you're thinking about buying a home, then you've probably heard the terms "pre-approval" and "prequalification." While often used interchangeably, there's a slight difference between the two. This blog will go over what it means to be prequalified versus pre-approved...
Jul
14
2021
Learn About Deducting Mortgage Interest From Your Taxes
One of the perks of a mortgage is the "mortgage interest deduction." Read on to learn what a mortgage deduction is, how much you can reduce from your taxable income, and how you can take advantage of this tax incentive. About Mortgage Interest Deduction The mortgage interest deduction is...
Jul
08
2021
FHA or VA Loan: Which is Better For Veterans?
Veterans have benefits awarded exclusively to them for their dedication and service, including disability and education compensation, career training, health care, and even home loans. However, with federally-funded home loans, there is more than one option. When it comes down to...
Jun
30
2021
Exploring The Pros and Cons Of An Interest-Only Mortgage Loan
An interest-only mortgage starts with payments that only pay down the mortgage interest. Generally, this makes your monthly payments lower than a typical mortgage payment. This option is attractive for those who cannot afford high mortgage payments. However, it has its drawbacks if...