A Guide to Getting your Home into Selling Shape

  We’ve finally turned the corner on Winter, which means longer and warms days are ahead. It also means it’s the busiest season of the year for buying and selling homes. Are you thinking about putting your home on the market? When it comes to selling your home, it can be overwhelming just thinking about where to start. But there’s no need to panic. We’ve put together a Home Seller’s guide to [...]

2019-03-01T08:58:26+00:00February 20th, 2019|Categories: Mortgage|

5 Reasons to Check Your Credit Annually

March is Credit Education Month, and while credit isn’t always the most exciting topic to talk about, it’s important to understand where you stand with your credit history. After all, your credit has a huge impact on your financial future and well-being. Your credit can affect where you can live, what jobs you’re eligible for, how much money you can borrow, the interest rate you will pay, and might even have an [...]

2019-02-20T16:19:56+00:00February 20th, 2019|Categories: Mortgage|

Your Guide to New Tax Law Changes

With the new Tax Law (TCJA) or Tax Cuts and Jobs Act, millions of Taxpayers are wondering which tax breaks they will still be able to use in 2018, and which ones have been eliminated. To help answer some of these questions, Chris Bufis, Loan Officer with NewTowne Mortgage in Norfolk, created a guide to help taxpayers understand how they will be affected by the new tax law. 2018 Federal Income Tax [...]

2019-02-25T10:44:44+00:00February 20th, 2019|Categories: Mortgage|

Get Your Mortgage at the Speed of Life

When you’re going through the homebuying process, you want a lender that can work at the “speed of life.” That means technology and communication that allow you to easily apply for a mortgage anytime, anywhere, and alerts that keep you constantly updated on the status of your loan throughout the process. That’s why we created our TowneBank Mortgage Mobile app, available in the Android and Apple App Store. With our app, you’ll [...]

2019-01-22T16:57:45+00:00January 17th, 2019|Categories: Mortgage|

Could You Qualify for Downpayment Assistance?

Are you having trouble saving up enough money for a downpayment? You're not alone. In fact, saving for a down payment is the largest obstacle to homeownership, according to a recent Zillow Housing Aspirations Report. While there are several mortgage programs available that offer little or 0% down such as the no money down USDA Loan, no money down VA loan, or the 3.5 percent down FHA Loan, saving up for all [...]

What determines your interest rate?

What determines your interest rate? While interest rates are still considered “historically low,” you might have noticed that they have been rising slowing over the past year. So, what exactly causes interest rates to fluctuate? We spoke with Mario Gomez, Vice President of Capital Markets at TowneBank Mortgage, to find out. “There’s a lot of factors that could cause rates to move,” Mario said.  “Some of the main factors for long-term rate [...]

2018-12-05T16:02:31+00:00December 5th, 2018|Categories: Mortgage|

FHFA Announces Increased Loan Limits for 2019

Beginning in 2019, the Federal Housing Finance Agency will raise the amount that home buyers can borrow on conforming loans to $484,350, up from the current limit of $453,100. That means homebuyers can borrow up to $31,250 more toward their home purchase without having to qualify for a Jumbo Mortgage. So, what are some of the benefits of a conforming loan? Often have less strict qualifications Often have a lower interest rate [...]

2018-11-28T11:26:27+00:00November 27th, 2018|Categories: Mortgage|Tags: |

Financial Fitness Tips for the 2019 Homebuyer

Just like getting into top physical shape, getting into homebuying shape takes time and determination. The best strategy to prepare: get organized and create a plan that will help you improve your financial fitness over time. It won’t happen overnight, but if you’re goal is to purchase a home in the new year, it’s never too early to get started. Here to coach you through the homebuying fitness plan is TowneBank Mortgage [...]

2018-11-21T15:00:29+00:00November 21st, 2018|Categories: Mortgage|Tags: , , , |

Credit do’s and don’ts: Holiday edition

‘Tis the season to shop til you drop! With blow out deals and gifts galore, you might be tempted to put it all on the credit card this holiday season. But before you swipe and land yourself on the naughty list, consider how your shopping habits could affect your credit score. Keep your credit in check with these tips: Don’t max out your credit. Credit utilization—or the amount of money you spend [...]

2018-11-19T13:47:22+00:00November 19th, 2018|Categories: Mortgage|

Deck Your Halls: Home Decorating Tips

Whether you're hosting or just looking to get into the holiday spirit, it’s always fun to make your home feel warm and festive. Its always smart to save on for sale items in store or online. The best deals are right before Christmas, or even the days right after Christmas if you want to get an early start on next year’s decorations.Here are a few more tips to make your home magical [...]

2018-11-19T15:12:23+00:00November 16th, 2018|Categories: Mortgage|Tags: , , , , |

Holiday treats from our family to yours

No matter how you celebrate, chances are that food will be part of the tradition. Here are a few tried-and-true dessert recipes from our TowneBank Mortgage family to yours. No-Bake Christmas Tree Cookies Ingredients: 1/2 cup butter 2 cups powdered sugar 3 tbsp. milk 3 cups coconut, sweetened 1/2 tsp. vanilla or mint extract Green food coloring 3/4 cup white chocolate chips 1 tsp. butter 1 tbsp. milk Mini M&M’s Recipe from Michelle [...]

2018-11-16T15:36:34+00:00November 16th, 2018|Categories: Mortgage|

WORK HARD, GET REWARDED

Work Hard, Play HardRewarding top quality work and excellence in production is part of our culture. Our Chairman's Club, hosted in the spring every year, is one no one wants to miss. It's an opportunity for us to celebrate our top loan officers and all they have achieved in the past year. For a few days, they take a break from the daily grind and enjoy beautiful beaches, once in a lifetime [...]

2019-02-15T16:11:10+00:00October 30th, 2018|Categories: #ReadySetGrow, Join Our Team, Mortgage|

INNOVATION THROUGH MARKETING

At TowneBank Mortgage, we believe that the more we can support our sales team through innovative technology and marketing, the more loan officers will be able to grow their personal brands, strengthen partnerships and feel more confident in their plan for growth and success in their own career paths. Our marketing team works with loan officers to create strategies and offer resources that make an impact in their local communities. Some of our [...]

2018-10-30T17:03:46+00:00October 30th, 2018|Categories: #ReadySetGrow, Join Our Team, Mortgage|

ADVANCED TECHNOLOGY FOR ALL

At Towne, we understand that no borrower is the same. It's our vision to think outside the box and provide the best products to match the unique needs of each individual. Our customer journey allows for the borrow to do business exactly the way they want, from application to closing.Learn more about our customer experience: Download the Mortgage Mobile App- check out our mobile mortgage application and easy-to-use mortgage calculators. Click here [...]

2018-10-30T17:04:19+00:00October 29th, 2018|Categories: #ReadySetGrow, Join Our Team, Mortgage|

TOP QUALITY IN SECONDARY

Who is Towne? Throughout the mortgage process, our customers interact regularly with their loan officer for updates and information about their loan and to answer any questions that come up throughout the process. But behind that loan officer is a support system that's working tirelessly to enhance the overall experience for each and every one of our customers and partners, as well as keep your loans on track, and get you to [...]

2018-10-30T17:05:03+00:00October 26th, 2018|Categories: #ReadySetGrow, Join Our Team, Mortgage|

4 Reasons to Use a Local Lender

When you’re searching for a mortgage, it can be difficult to know where to start. As a modern-day consumer, you’re probably starting your search online, and you’ve researched various options and companies for your home loan. While there will be several factors lead to your decision—the most important factor should be the level of customer service provided throughout the mortgage process, says Laura Cooper, President of Towne First Mortgage in Richmond, Virginia. [...]

2018-10-16T15:41:25+00:00October 16th, 2018|Categories: Mortgage, Towne Tips|

EXCELLENCE IN OPERATIONS

Who is Towne? “When we strive to become better than we are, everything around us becomes better too.” —Paulo Coelho, The Alchemist Throughout the mortgage process, our customers interact regularly with their loan officer for updates and information about their loan and to answer any questions that come up throughout the process. But behind that loan officer is a support system that's working tirelessly to enhance the overall experience for each and [...]

2018-10-30T16:31:25+00:00August 24th, 2018|Categories: #ReadySetGrow, Join Our Team, Mortgage|

VHDA Introduces New Homeownership Program

In an effort to offer down payment assistance to more homebuyers, the VHDA has created a new second mortgage program, known as the VDHA Plus Second Mortgage. The program, which went into effect August 15, replaces the FHA Plus Loan Program. The VHDA Plus Second Mortgage, a VHDA-financed and FHA-insured home loan, allows eligible first-time buyers to finance down payment or closing costs. Under program guidelines, qualified buyers can borrow a percentage [...]

2018-10-09T10:56:54+00:00August 20th, 2018|Categories: Mortgage|Tags: , |

10 Steps to Homeownership

Buying a home should be an exciting milestone! But if you’re a first-time homebuyer, or even if you’ve bought a home in the past, it’s easy to feel overwhelmed by the entire process. That’s why we sat down with loan officer Chace Cooper, to give you a break down on exactly what happens throughout each step of the homebuying process. “Obtaining a mortgage is a sophisticated process,” Chace said. “The earlier you [...]

GET TO KNOW OUR TEAM

Since our founding in 2001, TowneBank Mortgage has experienced growth in all areas, including the overall number of employees and geographical footprint, as well as total loan volume, making us one of the top residential mortgage lenders:Over 800 employeesLending footprint of 13 states across the East Coast, from PA to FLMore than $3.5 billion in loan volume in 2017Ranked #48 in Top Volume in the NationBut there's more to know about Towne [...]

2018-10-25T10:54:52+00:00August 14th, 2018|Categories: #ReadySetGrow, Co-marketing, Join Our Team, Mortgage|

Jean Brackins Passes on Her Son’s Passion

Growing up, Lee Terrell spent the school year living on Virginia’s Northern Neck with his father, and summers in Virginia Beach with his mom and stepdad, Jean and Brian Brackins. The summer after Lee’s 13th birthday, he had his first experience surfing at a local camp. He fell in love with the sport immediately. The next summer, Lee decided he wanted to live with Jean and Brian year-round. “I would love to say [...]

2018-10-09T16:16:18+00:00August 1st, 2018|Categories: Mortgage|

#ReadySetGrow with TowneBank Mortgage

At TowneBank Mortgage, our mission is to better the communities where we live and work. From helping people achieve their dream of homeownership to supporting local organizations, we’re always looking for new ways to inspire and appreciate our employees, as well as our neighbors. That's why we’ve announced the #ReadySetGrow campaign. #ReadySetGrow is designed to inspire each other to experience new and exciting opportunities and make other people feel good through our words and actions. [...]

2018-10-10T16:29:11+00:00July 31st, 2018|Categories: #ReadySetGrow, Mortgage|Tags: |

Nick Russo’s Rules to Live By

As the weather continues to heat up, so does the housing market—which means if you’re a real estate or mortgage professional, you’re gearing up for a busy season of helping clients buy, sell and finance homes. The challenge of serving the needs of your clients while continuing to market and grow your pipeline can be overwhelming, but we’ve got some tips that can help you “Light Your Business On Fire.” Nick Russo [...]

Avoid these Homebuying Fouls

Preparing to qualify for a home loan is like preparing for a playoff game. During the season, you work to improve your credit score, save enough for a down payment, gather and organize all the necessary documents and search for homes within your budget. Once you’ve finally been approved, you might think the season is over and victory is yours! But, before you can take home the championship, there are still a [...]

Could You Qualify for Downpayment Assistance?

Are you having trouble saving up enough money for a downpayment? You're not alone. In fact, saving for a down payment is the largest obstacle to homeownership, according to a recent Zillow Housing Aspirations Report. While there are several mortgage programs available that offer little or 0% down such as the no money down USDA Loan, no money down VA loan, or the 3.5 percent down FHA Loan, saving up for all [...]

Master Your Credit Score

You may not know the ins and outs of what makes up your credit score, but we can all agree on one thing, your credit score is extremely important. Not only can you be denied a home loan if your score is too low, but poor credit could also lead to difficulty being approved when you’re renting an apartment, higher insurance premiums, being denied on a job application and it determines what [...]

2018-10-09T11:56:17+00:00April 3rd, 2018|Categories: Mortgage|Tags: , , , |

Here’s How to Finance a Fixer Upper

You’ve seen it on HGTV shows like Property Brothers or Fixer Upper—experts take an outdated home and make it into the buyer’s dream home—all at a fraction of what it costs to buy new. But is it possible to live out your HGTV dreams in reality? “Absolutely,” says Chris Busching, renovation loan specialist with TowneBank Mortgage in Virginia Beach, who has over two decades of experience specializing in renovation loans. “With an [...]

2018-10-10T17:00:38+00:00March 20th, 2018|Categories: Mortgage, Towne Tips|Tags: , , |

“Semper Gumbi” (Always Flexible)- Mantra of the Military Spouse

Real Estate Agent Leah Pommerer knows the challenges of moving for the military because she’s lived it. She’s packed up her home, her children and her life, and moved across the country. However, when she talks about moving, the very real challenges of military deployment and leaving her friends and family for a new place, she isn’t complaining, she’s smiling. She says her mantra, “Semper Gumbi” or Always Flexible is how she [...]

2018-03-16T14:00:42+00:00March 16th, 2018|Categories: Mortgage, Real Estate|Tags: , , , , , |

Fast-talking Dana Dudley draws on experience

Dana Dudley might be the fastest speaking loan officer you’ll ever meet. That’s because when she’s not helping her clients purchase or refinance their homes, she’s working as a benefit auctioneer for various non-profits and auction houses around the Frederick County, Maryland area. “My friend convinced me that I would be a great auctioneer because I talk so fast,” Dana said. “I decided to do it because I always enjoyed going to [...]

2018-10-09T11:57:00+00:00February 26th, 2018|Categories: Mortgage|Tags: |

Bill Weakley’s Big Break

When you ask Loan Officer Bill Weakley what led him to his career as a loan officer, the answer might surprise you. His initial search for a new job after a 15-year career in the restaurant industry began when he and his wife decided to start a family. But it wasn’t until the first ultrasound appointment when the doctor showed two heartbeats instead of one, that Bill knew he knew he had [...]

2018-10-09T16:51:14+00:00December 28th, 2017|Categories: Mortgage, News/Events|Tags: , |

Tips for a Harmonious Home

Whether you’re putting your house up for sale or just looking to give your home a fresh look, it can be difficult to know where to start! As a seller, staging can help your home to stand out among the competition.  To help you get started, we met with Design Consultant Lorraine Carter, who gave us some insider tricks of the trade she uses for staging. In her role, Lorraine helps to [...]

2018-10-17T16:47:43+00:00December 4th, 2017|Categories: Mortgage|

Here’s what you need to know about a VA loan

If you’re a veteran, active duty or reserve military member in the United States, you’re probably aware that you’re entitled to a number of benefits. But are you aware of all of the advantages of a VA Loan? It’s a loan program unlike any other and is one of the few loan programs that allow you to purchase or refinance a home with no money down. A Veterans Affair (VA) Loan is [...]

2018-10-09T17:01:16+00:00November 21st, 2017|Categories: Mortgage|

Are Homebuying Fears Haunting You?

Are home buying nightmares keeping you up at night? If so, then we have good news for you. Most first-time homebuyer fears are unfounded and completely avoidable! Sure—it can be downright scary making a decision as big as purchasing your first home. But don't let these fears spook you—they’re not as frightening as they seem! Fear Number 1. I don’t have enough money for a down payment. This fear is built upon [...]

2019-01-24T09:48:58+00:00October 31st, 2017|Categories: Mortgage, News/Events|

How To Prep Your Home For a Hurricane

Hurricanes are a major source of concern—not only for the health and wellbeing of your family and friends—but for your home as well. With heavy winds and long periods of rain, hurricanes can cause catastrophic damage to your home. There are, however, preparations that can be made upfront that can save money and heartache in the long run. We spoke with Towne Insurance Agent Chandler Fulton, who gave us some great insight [...]

2018-10-11T07:22:17+00:00September 8th, 2017|Categories: Mortgage, News/Events, Real Estate, Towne Tips|

Karyn McAlpin Delivers a Modern Mortgage with Customer Service

At Towne, we’re proud to have an array of knowledgeable and professional loan officers who help thousands of clients purchase or refinance their homes each year. In our Loan Officer Spotlight Series, we will be sitting down with a different loan officer each week to talk about their unique experience in the mortgage industry. This week, we sat down with Charlotte-based loan officer Karyn McAlpin, a 25-year veteran in the mortgage industry. [...]

2019-01-30T16:02:48+00:00September 1st, 2017|Categories: Mortgage|Tags: , |

Can You Qualify for a Mortgage with Student Loan Debt?

If you recently graduated from college, chances are you have some student debt. But that doesn’t mean it’s impossible to qualify for a mortgage, even while paying off your debt. Fitzgerald Financial Loan Officer Matt Sines says this scenario is actually very common. “Over the past few years, the mortgage industry has taken steps to address student loans including more flexible guidelines and even special programs geared toward first-time homebuyers that are [...]

2017-07-07T11:42:48+00:00July 7th, 2017|Categories: FitzGerald Financial Group, Mortgage|Tags: , , , |

Is Owning a Home Still the American Dream?

With Independence Day around the corner, we’re reflecting on what it means to be American. There is so much to be thankful for as we celebrate our freedom on the 4th—such as the dream that America was founded on. The American Dream stands for democracy, rights, liberty, opportunity, and equality. It is the idea that every American should have the same opportunity for success, and upward mobility for themselves and their family. [...]

2017-07-05T08:08:21+00:00June 30th, 2017|Categories: FitzGerald Financial Group, Mortgage, News/Events, Real Estate|

Investment Property or Vacation Home? Which One is Right for You

So, you’re thinking about finally investing in that beach house up for sale in your favorite resort town. But will it be your vacation home? Or will you use it as a rental property? Maybe you’re planning on doing a little of both. Either way, purchasing a property can always be seen as a good long-term investment, whether you plan on generating rental income or not. However, mortgage lenders and the IRS [...]

What You Need to Know About a Reverse Mortgage

What comes to mind when you think about a reverse mortgage? Many people have developed an opinion without first gathering the facts. To help separate the facts from the fiction, we sat down with Reverse Mortgage Consultants Mike Poole and Sue Haviland. A reverse mortgage, also known as a home equity conversion mortgage, allows homeowners 62 years and above to access the home equity they have built in their homes and defer [...]

2017-06-23T11:03:53+00:00May 26th, 2017|Categories: Mortgage, Reverse Mortgage|Tags: , , |

How to Get a Mortgage if You’re an Entrepreneur

There are lots of perks to being your own boss. Freedom to create your own schedule, finding new challenges and opportunities and, of course, the satisfaction of watching your business grow. In fact, more than 50% of millennials say they are interested in entrepreneurship, and more than a quarter of millennials are already self-employed, according to the U.S. Chamber Foundation. But if you’re an entrepreneur looking to secure a mortgage, things can [...]

2017-05-19T13:21:45+00:00May 19th, 2017|Categories: Mortgage, Towne Tips|Tags: , , |

Don’t Believe these Downpayment Myths

In most cases, your parents know best. But when it comes to buying a house and your down payment, you may not want to follow every word of advice (sorry, dad).  It's one of the questions most frequently asked by clients, and apparently, our parents are to blame! In many cases, putting 20% down is an old rule of thumb in real estate. People know they need to save money to buy [...]

5 Mortgage Myths Debunked

It’s time to set the record straight. If you’re going through the mortgage process, there’s a chance you’re trusting google with answers to questions like, “How much should I put down on my home?” or “Do I need to hire a home inspector?” But you can’t always trust what the internet has to say, so we called Loan Officer Kenny Fryman in Richmond, VA and his partners to give us the facts [...]

2017-04-26T14:55:49+00:00April 26th, 2017|Categories: Mortgage, Towne Tips|Tags: , , , |

Tax Benefits of Owning a Home

Unless you’re hiding from the IRS in some undisclosed safe house right now, chances are you’re reading this feeling pretty good about the fact that you filed your taxes in time, and made it through the stress and uncertainty for another year. Way to go! You’re #adulting. But, 2017 tax season will be here before you know it, and if you’ve bought a home or are considering buying one this year, you [...]

2019-01-24T10:05:01+00:00April 19th, 2017|Categories: Mortgage|Tags: |

5 Signs You’re Ready to Become a Homeowner

So, you’re ready to stop making your landlord rich and start building equity through homeownership. But are you ready for the responsibility that comes with owning a home? Despite what you’ve heard, buying isn’t just a financial decision. There are many factors, including your professional and personal situation that should impact your decision. We sat down with TowneBank Loan Officer Dex Auer for his advice on how to decide when it’s time [...]

2017-04-14T12:37:39+00:00April 14th, 2017|Categories: Mortgage, Towne Tips|Tags: , |

5 Ways to Upgrade Your Bathroom without Remodeling

Your bathroom should be one of the most peaceful and relaxing rooms in your house. If you’re tired of your outdated bathroom, then give it a makeover! It’s not as complicated as you might think. Since its one of the smallest rooms in the house, you can make significant changes to the look and feel of your bathroom without taking on a big renovation project. Your bathroom can take on many different [...]

2017-06-02T12:20:46+00:00March 9th, 2017|Categories: FitzGerald Financial Group, Mortgage|

Need to Establish Good Credit? Here’s How

It’s March, which means it's credit education month! While most of us know what a credit score is, a lot of consumers do not fully understand what factors impact your credit score. Credit scores reflect your payment patterns and credit history over time and almost all major lenders use them. So why is your credit score so important? Your credit indicates to lenders how likely you are to pay back your loan. [...]

2017-03-03T13:30:15+00:00March 3rd, 2017|Categories: Mortgage, Towne Tips|Tags: , , |

Three Reasons to Get Pre-Approved for a Mortgage

Serious homebuyers should consider starting the homebuyer process in the office of a loan officer rather than a real estate agent. Potential home buyers benefit in a variety of ways by obtaining a letter of pre-approval before finding a home, including a feeling of confidence when you’re ready to bid on your dream home.

2017-02-23T14:07:19+00:00February 21st, 2017|Categories: Mortgage, Towne Tips|Tags: , |

About TowneTalk

We’re thrilled to debut our new, mobile-friendly blog! The TowneTalk blog is your new go-to source for mortgage and real estate industry news. At TowneBank Mortgage, we strive to educate our borrowers, and empower them to make smart financial decisions. Our blog is dedicated to that goal, and aims to inform readers by providing helpful mortgage advice, tips and best practices on home buying and homeownership.

2017-01-09T12:33:52+00:00January 9th, 2017|Categories: Mortgage, News/Events|

Nine things to know about VA loans

A Veterans Affair (VA) loan is a home loan partially guaranteed by the U.S. Department of Veterans Affairs, and was designed to help finance homes for eligible members of the military, veterans and some surviving spouses. A VA loan is a great option for military members who qualify, because these mortgages do not always require a down payment and are often easier to qualify for than conventional loans.

2017-01-09T12:22:51+00:00December 29th, 2016|Categories: Mortgage|Tags: , |

Please share or subscribe: