Your Local Mortgage Lender
Located in Spotsylvania, VA
Personalized Mortgage Experience
Katie Bennett offers personalized service and loan options you'll love. We shop multiple lenders to find the best rate and product for you, getting you into your dream home faster.
With wholesale interest rates and cutting-edge technology, we make the mortgage process seamless. Trust the experts who focus solely on mortgages. Support your local community and experience elite client service.
Let us help you achieve your homeownership dreams!
The Home Loan Process
Mortgage Pre-Approval
Get pre-approved from one of our Loan Officers to see how much you can afford.
House Shopping
Work with a trusted Real Estate Agent to find a home you would like to move into.
Loan Application
Complete your home loan application to get the lending process started.
Don't take my word for it
Mortgage Programs
Experience the best mortgage experience located in Lindon, Utah.
Home Loan Options
Our experienced mortgage advisors will walk you through the best mortgage loan program that will fit your specific scenario.
Conventional Home Loans.
FHA Home Loans.
USDA Home Loans.
VA Home Loans.
Frequently Asked Questions
How often can I refinance my mortgage?
There is no limit to the number of times you can refinance. However, you must qualify every time you apply and there will be costs associated with closing the loan each time.
Can I buy a home if I do not have money for a down payment?
Yes! There are a number of bond programs that offer low or no down payment financing options.
How do I know which mortgage is right for me?
The key to choosing the right mortgage is to understand the range of options and features available to you, as well as your budget, circumstances, and goals. Our licensed mortgage professionals are here to help you navigate that process. The more you know, the more comfortable and confident you will be choosing the best option for you and your family.
How long will the loan process take?
The Truth in Lending Act (TILA) does not permit a lender to close a loan until at least seven (7) business days have passed from the date your application was received. A typical home loan takes 30 days, as a number of third-party services such as appraisals, title work, and credit are required in conjunction with the mortgage process. Once you familiarize your Loan Officer with the details of your specific loan scenario, they will be able to provide you with a more specific timeline.
Will I qualify for a home loan?
The only way to find out is to speak with a qualified mortgage professional. Our Loan Officers have helped numerous clients who didn’t know if they could qualify to become home owners. We take the time to understand your financial situation and long-term financial goals, and then match you with the loan program that best fits your needs. Your approval for a loan may also largely depend on the price of the home you are financing. Getting pre-qualified prior to beginning your home search can give you an idea of what you may be able to afford.
Why do people refinance their mortgages?
Homeowners typically refinance to save money, either by obtaining a lower interest rate or by reducing the term of their loan. Refinancing is also a way to convert an adjustable loan to a fixed loan or to consolidate debts.
How much money will I have to pay upfront to buy a home?
This question does not have a simple, one-size-fits-all answer. The exact amount will depend on the price of the home you buy as well the type of mortgage financing you choose. Depending on your loan program, your down payment could be as much as 20% of the home’s price or as little as 3%, while some loans require no down payment at all.
Can I get a mortgage after bankruptcy?
You may still qualify for a home loan even if you have experienced a bankruptcy. The best way to find out if you qualify is to talk with a Loan Officer to discuss your options. Be sure to bring all paperwork regarding your bankruptcy so your Loan Officer can find the program that best fits your situation.
Should I lock my interest rate now, or wait until we are closer to our closing?
Interest rates fluctuate all day, every day. If an interest rate is good, it may be in your best interest to lock now. If you wait, you run the risk of an increase in rates later. If you are concerned that rates may go down after you lock, contact your Loan Officer to discuss your options. Some programs allow you to lock for an extended period and choose to lower your rate should a better one become available.
Most Recent Blog Updates
Why the Iran Conflict Pushed Mortgage Rates Higher and Why the New Peace Framework Is Bringing Them Down
The Connection Between a Middle East Conflict and Your Mortgage Rate
If mortgage rates have felt like they were moving in response to global headlines over the past several months that is because they were. The chain reaction connecting the Iran conflict to the rate you are being quoted is real, direct, and worth understanding clearly because knowing how it works is what allows you to make smarter decisions about when to act.
How the Chain Reaction Actually Works
When the conflict began in late February it disrupted the flow of oil through critical shipping routes in the region. Oil prices jumped in response to that disruption. Higher oil prices make almost everything more expensive to produce and ship and that broad-based cost increase feeds directly into inflation across the economy.
When inflation heats up investors who hold bonds demand higher returns to compensate for the purchasing power risk that inflation creates. That demand for higher returns pushes bond yields up and the ten-year Treasury yield is the benchmark that mortgage rates follow most closely. When the ten-year yield rises mortgage rates rise with it.
That sequence played out over the months following the February conflict escalation and rates climbed as a result peaking near 6.75 percent in May.
Why Rates Are Starting to Come Back Down
A new peace deal framework has reopened the key oil shipping route that the conflict had disrupted. Oil prices have dropped in response to that development and the easing of the inflationary pressure that elevated oil creates has allowed bond yields to pull back. Mortgage rates have followed and are sitting at their lowest level in a month as of this week.
As Katie Bennett explains your rate moves with the headlines. The same global events that pushed rates higher over the past several months are now creating the conditions that are allowing rates to ease back toward more favorable territory. That easing may continue if the peace framework holds and oil prices remain subdued or it may reverse quickly if the geopolitical situation deteriorates again.
What This Means for Buyers and Homeowners Right Now
The lesson from this rate cycle is practical and actionable. Rates do not move on a predictable schedule. They respond to events that nobody can forecast with certainty and they can move meaningfully in either direction in a matter of days based on a single development in a market that is thousands of miles away.
Staying ready to act when rates dip is the smart play. Buyers who are pre-approved and have identified their target price range are in a position to lock a rate quickly when a favorable window appears. Buyers who are still in the early stages of the process when a rate improvement occurs often watch the window close before they can capture it.
Katie Bennett works with buyers and homeowners to stay informed about rate movements and to be positioned to act when the market creates the right opportunity. Reach out to Katie Bennett to find out what today's rate environment means for your specific situation and how to make sure you are ready when the next favorable window appears.
Sources
FederalReserve.gov
TreasuryDirect.gov
MortgageNewsDaily.com
EnergyInformationAdministration.gov
CNBC.com
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