We are a Banker NOT a Broker – So, What’s the Difference?
Residential Mortgage Network is a mortgage banker, not a broker. There are very distinct “operational” differences which impact the time it takes to obtain a loan approval, making it an important consideration to our customers and business partners. Bankers vs. Brokers A mortgage banking company “makes the loan decision” and is burdened with the risk. A mortgage broker…
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How to Choose a Loan Program
Which Loan Program Should I Choose? Does the idea of deciding on a home loan make your head spin? You may have questions like these: Why would someone choose a Rural Development loan (USDA) over a Conventional Loan? Why did my other lender tell me the VA loan isn’t the best option for me? What…
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Closing Costs in Cedar Rapids
Are you thinking of buying or refinancing in Cedar Rapids? Curious about closing costs? We can answer that question! Closing costs are, in general, the costs to get a loan file from application to closing. Down payment is separate from closing costs and is your investment in the property while closing costs are fees to…
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Iowa First-Time Home Buyer Programs
Buying your first home in Iowa can be very expensive and frightening if you have no idea of the available funding you can take advantage of. The entire process would likely include financial conversations and situations you may have never encountered before. Fortunately, the Iowa Finance Authority has created programs for first-time homebuyers. Iowa Finance…
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The Average Cost to Buy a Home in Cedar Rapids
Are you moving to the Cedar Rapids area and entering the market to find your dream home? Here at Residential Mortgage Network, we have been offering residents of Cedar Rapids home loans since 1987, and are ready to lend some guidance! A Little Background on Cedar Rapids Living Cedar Rapids is the second-largest community in…
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Closing Cost Assistance For Veterans: Understanding the $5000 Iowa Military Homeownership Assistance Program
Every November, we take time to honor the many servicemen and women who’ve worn the uniform of our armed forces. As veterans, they’ve earned our gratitude and respect. Their service has also earned them access to various veterans’ benefits, which include home loan guarantees from the Department of Veterans Affairs (VA). This $5,000 grant for…
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Refinancing Your Home: The Pros and Cons
Interest rates are at a historic low and buyers are taking advantage. It’s also the perfect time to refinance! Can’t decide whether or not you should refinance? Take a look at the pros and cons: Pros: Lower Monthly Payment or Loan Term Those who are refinancing now are cutting their monthly mortgage payments by hundreds…
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Tips for First Time Home Buyers During A Pandemic
Buying your first home is one of the most exciting and rewarding journeys in life, but can also be a little scary and overwhelming, especially during a pandemic. Because the housing market has seen enormous growth due to historically low-interest rates, many individuals are looking to buy, sell, or refinance their homes this year during…
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Tiny Treasures: The Tiny Home Movement
Ever heard of something called the tiny home movement or tiny homes in general and wondering what this entails? We’re going to give you the rundown on all things pros and cons about tiny homes. It’s The Little Things The first thing to know about the tiny home movement is that it follows a social…
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Cedar Rapids Home Loans
Residential Mortgage Network has been offering the residents of Cedar Rapids home loans since 1987. We can finance properties anywhere in Iowa and have offices located in Iowa City and Cedar Rapids. Our owner, Rick House, started the company to offer all loan options to buyers in the Cedar Rapids market. Home loan types RMN…
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