Blog

Welcome to our Foundation Mortgage Blog. Designed to give you tips, inspiration, and guidance throughout your home selling and buying experience. 

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How To Determine the Amount of Mortgage You Can Afford

Buying your own home is an exciting endeavor, however it does come at an expensive cost. When you begin the initial steps to buy a home, you will need to determine the amount of mortgage that you will need in order to pay for the home, and its cost is based on several factors. If…

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Buying a Home When You Have Student Loan Debt

Are you interested in buying a home, but worried that you may not be able to afford it because you also owe money on student loans? Student loan payments were deferred for most borrowers during the pandemic, however, they are scheduled to become due again in a few months. Although student loan debt does significantly…

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Purchasing a Home With a Reverse Mortgage

If you are a senior citizen who is interested in buying a new property, you may be able to convert the equity from your current home to help you finance a new home with no additional mortgage fees. A reverse mortgage for purchase is one type of financing option that allows a borrower meeting specific…

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The Impact of Rising Interest Rates

The Federal Reserve approved an increase in interest rates recently in an attempt to subdue inflation, and plans to implement more interest increases in the coming months to help maintain the growth of the economy. Many people are concerned about how these interest hikes will influence the housing market and subsequent housing prices. If you…

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What Is Private Mortgage Insurance?

Becoming a homeowner comes with several expenses, and sometimes it can be complicated to understand the different payments you will be required to make when financing your home. One cost that you will more than likely be responsible for paying is private mortgage insurance, especially if you are planning on using a conventional loan to…

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Get a Better Mortgage Rate or Term by Refinancing

Do you own your own home and are wondering how you can improve your financial situation? When you take out a mortgage to finance your property, it is a major financial commitment, but fortunately, your original loan terms do not have to remain permanent if you refinance your mortgage. Refinancing your mortgage with either a…

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What Are Mortgage Insurance Premiums?

Are you interested in buying a home, but worried that you cannot afford a 20% down payment? There are still financing options available to homebuyers who make a down payment of less than 20%, but it is important to understand that you will be required to pay mortgage insurance in this case. If you are…

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Refinance Your Current Commercial Loan

Do you own a commercial property or a small business, and interested in getting a better rate or term on your current loan? A commercial loan refinance could help you both increase the equity of your property and help you save money. Foundation Mortgage can help you determine the best refinancing option for your situation…

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Saving Funds for a Down Payment

Have you decided you want to stop renting, and are ready to begin to take steps towards owning your own home? Finding your ideal home is an exciting milestone, but it is one that comes with many financial obligations. Effectively budgeting and saving enough money for a down payment can be one of the biggest…

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What’s the Difference Between Preapproval and Prequalification?

Chances are that if you are beginning to get serious about purchasing your own home, you have heard people suggest that you should first get preapproved or prequalified for a loan to give you an advantage over other homebuyers, but what exactly does that mean? If you are looking to buy a home in Knoxville,…

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