home loans

Purchasing a new home can be a wildly exciting time. It can also be an especially stressful one, particularly when unexpected expenses arise that catch you off-guard. Understanding what costs to expect during the process and how you can save on them can not only make the process more affordable and smooth, but can save you a lot of undue stress. We at Middlefield Bank have put together a guide to help you understand what closing costs are, how much you can expect to pay for them, and some tips...
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Your home is one of the biggest investments you’ll ever make, and refinancing your mortgage can be a smart financial move — if done correctly. Whether you’re looking to lower your monthly payment, reduce your interest rate, or tap into your home’s equity, refinancing can help you achieve your financial goals. At Middlefield Bank, we’re here to make the refinancing process easy to understand. This guide will walk you through how refinancing works, when it makes sense,...
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Home equity is a crucial concept for homeowners, offering a pathway to financial stability and opportunities for leveraging the value of your property. This guide will help you understand what home equity is, how it works, and how you can make the most of it. What is Home Equity? Home equity is the difference between the market value of your home and the outstanding balance on your mortgage. Essentially, it's the portion of your home that you truly own. For example, if your home is worth...
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When you’re thinking about buying a home, one of the key factors lenders consider is your debt-to-income (DTI) ratio. But what exactly is this ratio, and why does it matter? In this post, we’ll break down everything you need to know about DTI, including how to calculate it, why it’s important, and how it impacts your mortgage or home loan application. What Is Debt-to-Income Ratio? Your debt-to-income ratio is the percentage of your monthly gross income that goes towards paying...
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