Richard Airey

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207-321-5307

rairey@firstinmaine.com

Richard Airey

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New FICO “Resilience” Credit Score Could Help Borrowers

New FICO “Resilience” Credit Score Could Help Borrowers

As the U.S. economy reels from record-high unemployment and continued COVID-19 shutdowns, the Fair Isaac Corp. (FICO), a global analytics company and producer of the FICO credit score, released a new credit index recently it hopes will keep mortgage

Jul 15, 2020 | credit

Buying a First Home in an Expensive Area

Buying a First Home in an Expensive Area

For Americans living and working in the nation’s most expensive real estate markets, homeownership can seem like the impossible dream. Prices are high and options can be limited. It may feel like home values rise faster than your ability to save up

Jul 01, 2020 | Purchasing a Home

What is an ARM loan?

What is an ARM loan?

While fixed-rate loans are one of the most popular choices for mortgage loans, there is another choice: the adjustable-rate mortgage or ARM loan. If you’ve ever wondered what an ARM loan is or why anyone would want one, here is what you need to know

Jun 17, 2020 | Adjustable Rate Mortgages

How Has the CORONAVIRUS Affected Mortgages?

How Has the CORONAVIRUS Affected Mortgages?

Six ways the CORONAVIRUS Pandemic has affected the Mortgage Market: What Consumers Need to Know   The Coronavirus pandemic has had a profound effect on our society, with a tragic loss of human life and crippling of our economy. From retail to trave

Jun 09, 2020 | mortgage covid-19

Understanding Mortgage-related Insurance

Understanding Mortgage-related Insurance

When you buy a home with a mortgage, you will be required to pay all sorts of insurance, including homeowner’s insurance, title insurance and private mortgage insurance. What are all these policies and why do you have to pay for them? Homeowner&rsq

Jun 03, 2020 |

What is Mortgage Insurance?

What is Mortgage Insurance?

If you’re buying a home but don’t have a sizable down payment to invest, your best option may be a loan that charges mortgage insurance, such as an FHA or VA loan. Since all lending is based on risk, there may be some cases where the lender w

Feb 28, 2020 | mortgage