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Best of Newburyport Home Mortgages

Personal Attention & Sound Advice from the Residential Mortgage Experts

Homeowners from the New England and Mid Atlantic region have put their trust in Residential Mortgage Services, Inc. (RMS) since 1991.  RMS is an independent, privately held mortgage bank and direct lender of residential mortgage products with a strong reputation for streamlining the home financing process and giving homeowners peace of mind.

RMS has been able to achieve exceptional customer satisfaction results due to the fact that they very closely manage the loan process ensuring that all of the many important steps have been accurately completed.  The loan process can be complex but the team at RMS has many years of experience handling the details and simplifying the mortgage experience for their customers.  RMS keeps the process in house:  underwriting, processing & direct funding, enabling themselves to control the many steps of mortgages, thus ensuring happy customers.

In addition to offering top quality customer care, RMS is a great choice due to their broad portfolio of home loan products including:  Conventional Loans, 1st Time Home Buyer Programs, Gov’t Loan Programs, Owner Occupied, 2nd Home & Investment Properties, State Housing Programs, Conforming & Jumbo Loans, Purchase and Refinance.  With this broad selection, RMS has a product for each of their customer’s individual needs.

If you prefer to focus on your new dream home or how you might utilize the savings from your refinanced loan, then we highly recommend a call to RMS.  Let the expert team at RMS do the heavy lifting.  With their exceptional customer care, broad product portfolio and strong industry experience, RMS is the Best of Newburyport Residential Mortgage Company.

Residential Mortgage Services

By Bob Pezzella NMLS# 112811 , Residential Mortgage Services, NMLS#1760 Equal Housing Opportunity
Why Bob Pezzella for your mortgage needs? Because my 26 years of lending experience coupled with the lending powerhouse that is Residential Mortgage Services, Inc. (RMS) we will streamline your mortgage and home buying process. After the crazy rate fluctuations of the late 1990s through the tumultuous 2000’s first decade and beyond I have navigated the mortgage process every step of the way for my clients. I pride myself on a thorough, consultative approach to understanding customer needs and goals and match your criteria with the parameters of available down payment monies and income level. Whether it makes sense to make a smaller or larger down payment, help raise a credit score, or pay off / refinance current debt, I will find the mortgage solution that is right for you. I will help you evaluate the array of mortgage options from the traditional 30-year fixed rate, through the various state housing programs to the government programs FHA, VA, USDA and together Residential Mortgage Services, Inc. (RMS) and I will guide you home! There is no affiliation between Residential Mortgage Services and any other company.

Monitor Your Credit Score & Improve Your Mortgage Rate

credit score, Residential Mortgage Services, Newburyport, MA

I left off last time talking about how important it is to “be prepared” with respect to having your credit in order prior to applying for home financing.  Your credit score is so critical to your qualifying loan options and corresponding Annual Percentage Rate (APR) I feel compelled to briefly revisit the topic given the time of the year and recent political events.

We have just come through the holiday shopping season and many of us took advantage of large discounts at the cash register simply for agreeing to open a new store credit card.  Although the savings was great, these transactions inevitably lower your credit score:

  • The credit inquiry itself lowers your score.
  • The amount borrowed compared to the limit set by the store can further lower your score.
  • The number one zinger is if the store got your billing address incorrect when the cashier was keying your information in to the computer. Zip code or street number off by a digit and your bill goes to the wrong address, you potentially forget about the new account and miss a payment.

Please, exercise extreme due diligence in tracking down any of these new accounts and make sure these new bills get paid in a timely manner!

Recent national events are costing us more money too. Regardless of your political affiliation, national politics has affected the cost of borrowing money. The result of the presidential election  has  strengthened a bull market, trading off the idea that lower personal and corporate income taxes will stimulate the economy, coupled with the belief that deregulation has been constraining growth. The Dow Jones Industrial Average (DOW)  is flirting daily with a record 20,000-point level and the Federal Reserve Board (FED) raised its benchmark interest rate recently for just the second time since the financial crisis of 2008. These factors have helped inch up home interest rates costing new mortgage customers more money per month. Although there is little we can do about these national events, you can protect and monitor your credit scores ensuring that you qualify for the best interest rate available.  Consider this: a half- point difference in APR on a 30-year fixed rate $300,000.00 mortgage can cost $88.00/month more in your payment, $1,056.00/year and $31,680.00 more if you were to stay in the mortgage for the life of the loan.

Friends, my message here is very simple. Although credit is not the only qualifying lending criteria, good credit helps you qualify for the best rates and programs. If you need a hand assessing your credit and your qualifying criteria, I would be more than happy to assist you!

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