What to Know About 5/1 and 5/6 ARM Loans Elevated home prices and rising interest rates have renewed interest in home loans that can lower monthly mortgage payments, like adjustable-rate mortgages (ARM). If you’re shopping for a home, you owe it to yourself to understand this mortgage option. The most common type of these adjustable-rate […]
About Michael Bloch
Michael is the Senior Vice President of Operations at AmeriSave. He has more than 10 years of experience in the mortgage industry including leadership roles at LendingTree, Discover Financial Services and AmeriSave. He is a graduate of Florida State University. Michael leads a worldclass team of mortgage professionals and his top priority is to ensure that customers experience a smooth and seamless experience when going through the mortgage process with AmeriSave.
Entries by Michael Bloch
An adjustable-rate mortgage (ARM) — sometimes referred to as a “variable rate mortgage” —offers the opportunity to save money through a low introductory interest rate. But it also has the possibility of a higher monthly mortgage payment once that introductory rate ends. If you’re the right kind of home buyer and you understand how to […]
For some prospective homebuyers, rising interest rates might make it feel like the dream of homeownership is slipping away. The good news is that even in a high-rate environment, you have multiple strategies to help you lower your interest rate or the total cost of your loan. One such strategy is the mortgage buydown. Mortgage […]
Buying a home may be the culmination of a long-term goal. It might even be tied to other goals, such as starting a family. The fact is, we do develop strong emotional bonds with our homes. The challenge is not to let emotion rule the day when you’re shopping for that home. A strategic approach […]
Every homebuyer has different needs, including for financing. That’s why there’s no such thing as a one-size-fits-all mortgage. In fact, there are several types of home loans, each with different features, requirements, and pros and cons. So asking the question, “what type of mortgage is best for me?” is an important part of the home-buying […]
There are many compelling reasons you might want to refinance your mortgage – to obtain a better interest rate, to shorten the length of the loan term, to switch mortgage types. But to do that, you need to first choose the mortgage refinance lender that’s best for you. The right lender will help you structure […]
If the word “retirement” resonates with you, you’re not alone. Retirees are enjoying long-awaited travel pursuits, moves to places they’ve been dreaming of and finally being able to check things off their bucket lists. Some of them are paying for these endeavors by taking out a reverse mortgage, which allows certain homeowners to tap into […]
You’ve searched and finally found a home to buy. But now, your lender throws you a curveball and requires that you pay for Private Mortgage Insurance (PMI). So, what is PMI exactly? Private mortgage insurance (PMI) protects the lender financially if you stop making payments and default on your home loan. The insurance may be […]
Conventional mortgages make up most of all home loans in the U.S., and it’s the one most borrowers think of when they think of mortgages. It’s what you might think of as a traditional, garden-variety mortgage, but that doesn’t mean it doesn’t have its strengths – there are a lot of benefits to this type […]
Ever wonder what it would be like to own your house free and clear? No mortgage loan. No monthly house payments to a lender. To use the money that’s earmarked for the monthly mortgage payments and put it toward college tuition for the kids, retirement savings or even that European vacation you’ve been dreaming about? […]
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