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Brody Orton


801-221-9400 citadel@etrafficers.com


The Little-known Mortgage That Doesn’t Require a Down Payment

A conventional mortgage loan requires a 20% down payment. If you are a first-time homebuyer however, saving up tens of thousands of dollars can seem like an impossible task. Of course, there are loan programs, like FHA mortgages, that allow for low down payments, but they often have stricter requirements. For some of those programs, you may have to pay higher interest rates, have better credit scores, or pay higher mortgage insurance fees.  Fortunately, there is a little-known mortgage loan that requires no down payment and minimal fees: the USDA loan. USDA Loan Defined These are mo...

September 9th, 2020 | Government Loans, USDA Loans, The Little-known Mortgage That Doesn’t Require a Down Payment

Why a Mortgage is Good Debt

In today’s coronavirus-crisis economy, many Americans may be regretting taking on debt in the past or facing new debt to cover expenses during unemployment. And yet millions of consumers continue to apply for mortgages for home purchases, one of the largest debts most people will ever assume. The reason for this is that some debt is actually considered “good debt.” Here’s how to tell the difference between good and bad debt and why mortgage loans fall under that category. Good Debt There are several crucial factors that determine good debt. First, the financing is...

September 2nd, 2020 | Mortgage, Debt, Why a Mortgage is Good Debt

Should I Refinance into a 15-year Mortgage Now?

Mortgage interest rates are at all-time lows right now. It’s obviously a great time to refinance for lower rates and payments. Perhaps you are interested in paying off your mortgage loan faster though. Is refinancing into a shorter loan a good idea right now too? Interest Savings A 15-year fixed rate home loan is a popular option for borrowers looking to be mortgage-free sooner. These shorter loans come with even lower interest rates than 30-year mortgages, allowing homeowners to save thousands in interest. For example, for a borrower with a home valued at $300,000 with a 20% down ...

August 26th, 2020 | Refinancing a Home, Should I Refinance into a 15-year Mortgage Now?

How Bad Is It to Miss a Mortgage Payment?

No one signs a mortgage contract thinking they won’t be able to keep up with the payments. And yet life sometimes throws us curveballs. The recent coronavirus crisis, for example, has sent millions into unemployment and a state of financial uncertainty. If an emergency hits and you are short on cash, how bad is it to miss a mortgage payment? What Does ‘Late’ Mean? For most home loans, the payment is typically due on the first of the month. Most mortgage servicing companies will give borrowers a grace period, with the final pay date of the 16th before penalties...

August 20th, 2020 | Mortgage Advice, How Bad Is It to Miss a Mortgage Payment?

Do You Have Enough Money to Buy a House?

When potential buyers are ready to begin their dreams of homeownership, they often start by looking at real estate listings. The asking prices are the starting point for determining how much home a buyer can afford, but there are plenty of other costs and fees not spelled out in that one number. By looking at all the associated expenses, you can decide if you have enough money to buy a home. Down Payment Most mortgage loans require at least some down payment (VA loans for military are one big exception). A conventional loan an require as much as 20% down. For a $250,000 home, a 20% dow...

August 12th, 2020 | Purchasing a Home, Do You Have Enough Money to Buy a House?

How are Mortgage Interests Rate Determined?

Getting the very lowest interest rate is usually top priority for most home loan seekers but mortgage rates can vary widely from day to day and year to year. They are influenced by international and domestic market changes as well as an individual borrower’s financial details and loan packages. In order to get the best rate, it is essential to understand all the factors that determine mortgage interest rates. The Federal Reserve and 10-year Treasury Bond Yield The general range for mortgage rates at any particular time is heavily influenced by the world and U.S. financial markets...

August 5th, 2020 | Interest Rates, How are Mortgage Interests Rate Determined?