Paul Spencer

NMLS # 320089

214-507-4210

paul@vipmtg.com

Paul Spencer Residential Mortgage Loan Originator

Blog

The Pros and Cons of a 40-Year Mortgage

The Pros and Cons of a 40-Year Mortgage

When it comes to buying a house, you have most likely heard of a 30- or 15-year mortgage, and maybe even a 20-year mortgage. Did you know there are also 40-year mortgages? In today’s market of record high prices, these long-term home loans can offer

Jun 29, 2023 | Purchasing a Home

How does a HELOC work?

How does a HELOC work?

With so much equity flowing freely these days, getting a home equity line of credit (HELOC) can be a great way to pay for home renovations, help pay for a child’s college tuition, or finance other important financial goals. Unlike a traditional mort

Jun 27, 2023 | Refinancing a Home

Can I Get a VA Loan After Leaving Military Service?

Can I Get a VA Loan After Leaving Military Service?

Home loans sponsored by the Department of Veteran Affairs, or VA loans, are an amazing resource for active duty military personnel. They offer low interest rates and do not require down payments. But what about if you have ended your military service? Can

Jun 22, 2023 | VA Loans

Weighing the Options: Vacation Home or First Mortgage Payoff?

Weighing the Options: Vacation Home or First Mortgage Payoff?

Have you always wanted to buy a second home in your favorite vacation spot, but you’re not sure if it makes financial sense to take on a second mortgage before paying off your first? It can be a tricky question as it feels like a trade-off between g

Jun 20, 2023 | Purchasing a Home

Buying a Short Sale: Everything You Need to Know

Buying a Short Sale: Everything You Need to Know

With the explosive home price growth of the last few years, many people have been priced out of the homebuying market. If you fall in this category, there may be some avenues you could still try to break into the homeownership scene. One of these is short

Jun 15, 2023 |

Making Sense of Today's Interest Rates

Making Sense of Today's Interest Rates

Mortgage interest rates have risen sharply in the past year, having bumped around the 3% -4% range for the last decade. After getting so accustomed to that range of rates, many borrowers are struggling with today’s level in the 6% span. However, his

Jun 13, 2023 | Interest Rates

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