--- title: The Mortgage Statement Blog | Arkansas Mortgage | Scott McElmurry (3) description: Bank of Little Rock Mortgage's blog on everything from home loans to refinancing (3) --- [![Bank Of Little Rock Mortgage](https://blog.blrmortgage.com/hs-fs/hubfs/images/logo-1.png?width=730&height=217&name=logo-1.png "Bank Of Little Rock Mortgage")](http://www.blrmortgage.com/) # The Mortgage Statement ## Scott McElmurry ### Recent Posts ## [Monday Mortgage Memo: November 19, 2012](https://blog.blrmortgage.com/blog/bid/245436/Monday-Mortgage-Memo-November-19-2012) Posted by [Scott McElmurry](https://blog.blrmortgage.com/blog/author/scott-mcelmurry) on Mon, Nov 19, 2012 @ 03:24 PM - [Tweet](https://twitter.com/share) [![](https://blog.blrmortgage.com/hs-fs/file-28702721-jpeg/images/blrm_email20banner_green_600x2002.jpeg) ](https://blog.blrmortgage.com/blog/bid/245436/Monday-Mortgage-Memo-November-19-2012) Happy Thanksgiving week! While you're preparing the turkey and revving up for Black Friday, check out these recently lowered rates. The 30-year fixed rate has dropped from 3.125 percent to just 3 percent with a 3.1511 percent APR and the 20-year fixed rate has dropped from 3.125 to 2.875 percent with a 3.0881 percent APR, while the 15-year fixed rate has remained the same at 2.500 percent.  Thinking about switching from a 30- or 20-year fixed rate to a 15-year fixed rate? With a shorter term, you get your mortgage paid off sooner. And with today's lower rates, you can save a whole lot more money than simply refinancing to the same term. [Check out this article from FreeRateUpdate.com](http://www.freerateupdate.com/mortgage-refinance/mortgage-refinancing-to-a-15-year-loan-term-10875/) for more tips and information on refinancing to a 15-year rate.   Bank of Little Rock Mortgage is also rolling out a new blog to provide our experience and expertise on mortgage finance, written in plain English for you to follow easily. We call it[The Mortgage Statement](https://blog.blrmortgage.com/blog).   Are you interested in seeing if you prequalify for a home loan? We have a quick-and-easy online prequalification process you can access below.  [![Prequalify Online Here](https://no-cache.hubspot.com/cta/default/168390/c6aa7374-16c3-4b65-91a2-3a542de1293c.png)](https://cta-redirect.hubspot.com/cta/redirect/168390/c6aa7374-16c3-4b65-91a2-3a542de1293c) If you have any questions, comments or concerns, we would love to hear from you. Just [contact us](http://www.blrmortgage.com/contact-us/) and let us know what you need. For more information on [Arkansas mortgage rates](http://www.blrmortgage.com/what-are-todays-mortgage-rates/), check out our website.  Happy Monday, Scott McElmurry President & CEO of Bank of Little Rock Mortgage NOTE: Your mortgage rate can be affected by a number of factors, including your credit score, loan-to-value ratio, your down payment and the loan program you choose. No matter what, we'll always find you the best mortgage loan at the best rate, guaranteed. For more information, visit our [Today's Rates](http://www.blrmortgage.com/what-are-todays-mortgage-rates/) page.   [Read More](https://blog.blrmortgage.com/blog/bid/245436/Monday-Mortgage-Memo-November-19-2012) 0 Comments [Click here to read/write comments](https://blog.blrmortgage.com/blog/bid/245436/Monday-Mortgage-Memo-November-19-2012#comments-listing) Tags: [mortgage rates](https://blog.blrmortgage.com/blog/topic/mortgage-rates), [Get preapproved online](https://blog.blrmortgage.com/blog/topic/get-preapproved-online) ## [As a Homeowner, Am I Required to Have Mortgage Insurance](https://blog.blrmortgage.com/blog/bid/244891/As-a-Homeowner-Am-I-Required-to-Have-Mortgage-Insurance) Posted by [Scott McElmurry](https://blog.blrmortgage.com/blog/author/scott-mcelmurry) on Mon, Nov 19, 2012 @ 01:18 PM - [Tweet](https://twitter.com/share) [![](https://blog.blrmortgage.com/hs-fs/file-18406766-jpg/images/istock_000018554166xsmall.jpg) ](https://blog.blrmortgage.com/blog/bid/244891/As-a-Homeowner-Am-I-Required-to-Have-Mortgage-Insurance) After you spend a great deal of money on a house, the last thing want to think about having is paying even more for insurance. One insurance bill you will be paying is homeowner’s insurance, which helps pay for large-scale home repairs after damages to your property. However, there is also mortgage insurance, which has less to do with your property and more to do with your actual mortgage payments. There are generally two types of mortgage insurance: Private Mortgage Insurance and Mortgage Life Insurance. [Read More](https://blog.blrmortgage.com/blog/bid/244891/As-a-Homeowner-Am-I-Required-to-Have-Mortgage-Insurance) 3 Comments [Click here to read/write comments](https://blog.blrmortgage.com/blog/bid/244891/As-a-Homeowner-Am-I-Required-to-Have-Mortgage-Insurance#comments-listing) Tags: [mortgage insurance](https://blog.blrmortgage.com/blog/topic/mortgage-insurance), [Mortgage payment](https://blog.blrmortgage.com/blog/topic/mortgage-payment), [first-time home buyer](https://blog.blrmortgage.com/blog/topic/first-time-home-buyer) ## [Monday Mortgage Memo: November 12, 2012](https://blog.blrmortgage.com/blog/bid/243190/Monday-Mortgage-Memo-November-12-2012) Posted by [Scott McElmurry](https://blog.blrmortgage.com/blog/author/scott-mcelmurry) on Tue, Nov 13, 2012 @ 02:21 PM - [Tweet](https://twitter.com/share) [![](https://blog.blrmortgage.com/hs-fs/file-28702721-jpeg/images/blrm_email20banner_green_600x2002.jpeg) ](https://blog.blrmortgage.com/blog/bid/243190/Monday-Mortgage-Memo-November-12-2012) [Read More](https://blog.blrmortgage.com/blog/bid/243190/Monday-Mortgage-Memo-November-12-2012) 0 Comments [Click here to read/write comments](https://blog.blrmortgage.com/blog/bid/243190/Monday-Mortgage-Memo-November-12-2012#comments-listing) Tags: [How do I refinance](https://blog.blrmortgage.com/blog/topic/how-do-i-refinance), [first-time home buyer](https://blog.blrmortgage.com/blog/topic/first-time-home-buyer), [choose a mortgage](https://blog.blrmortgage.com/blog/topic/choose-a-mortgage) ## [KATV Live: A Few Tips for First-Time Home Buyers](https://blog.blrmortgage.com/blog/bid/234130/KATV-Live-A-Few-Tips-for-First-Time-Home-Buyers) Posted by [Scott McElmurry](https://blog.blrmortgage.com/blog/author/scott-mcelmurry) on Fri, Oct 19, 2012 @ 08:57 AM - [Tweet](https://twitter.com/share) [Read More](https://blog.blrmortgage.com/blog/bid/234130/KATV-Live-A-Few-Tips-for-First-Time-Home-Buyers) 0 Comments [Click here to read/write comments](https://blog.blrmortgage.com/blog/bid/234130/KATV-Live-A-Few-Tips-for-First-Time-Home-Buyers#comments-listing) Tags: [How to buy a home](https://blog.blrmortgage.com/blog/topic/how-to-buy-a-home), [first-time home buyer](https://blog.blrmortgage.com/blog/topic/first-time-home-buyer), [choose a mortgage](https://blog.blrmortgage.com/blog/topic/choose-a-mortgage) ## [How to Apply for a Home Loan](https://blog.blrmortgage.com/blog/bid/234002/How-to-Apply-for-a-Home-Loan) Posted by [Scott McElmurry](https://blog.blrmortgage.com/blog/author/scott-mcelmurry) on Tue, Oct 16, 2012 @ 09:44 AM - [Tweet](https://twitter.com/share) [![](https://blog.blrmortgage.com/hs-fs/file-18407179-jpg/images/istock_000019227735xsmall.jpg) ](https://blog.blrmortgage.com/blog/bid/234002/How-to-Apply-for-a-Home-Loan) For the majority of first-time homebuyers, getting a mortgage is a must. A mortgage, however, can be a complex process for those who don’t do their research. It’s important to know exactly what will be required of you during the mortgage application process, because preparation is one major key to success. **** [Read More](https://blog.blrmortgage.com/blog/bid/234002/How-to-Apply-for-a-Home-Loan) 1 Comment [Click here to read/write comments](https://blog.blrmortgage.com/blog/bid/234002/How-to-Apply-for-a-Home-Loan#comments-listing) Tags: [Get pre-qualified online](https://blog.blrmortgage.com/blog/topic/get-pre-qualified-online), [first-time home buying](https://blog.blrmortgage.com/blog/topic/first-time-home-buying), [choose a mortgage](https://blog.blrmortgage.com/blog/topic/choose-a-mortgage) ## [How to Choose the Mortgage Right for You](https://blog.blrmortgage.com/blog/bid/232700/How-to-Choose-the-Mortgage-Right-for-You) Posted by [Scott McElmurry](https://blog.blrmortgage.com/blog/author/scott-mcelmurry) on Thu, Oct 11, 2012 @ 10:13 AM - [Tweet](https://twitter.com/share) [![](https://blog.blrmortgage.com/hs-fs/file-18406216-jpg/images/istock_000011618280xsmall.jpg) ](https://blog.blrmortgage.com/blog/bid/232700/How-to-Choose-the-Mortgage-Right-for-You) When looking for the right mortgage, the most important question to answer is, “Which mortgage type is right for my financial situation?” This means a few things: [Read More](https://blog.blrmortgage.com/blog/bid/232700/How-to-Choose-the-Mortgage-Right-for-You) 1 Comment [Click here to read/write comments](https://blog.blrmortgage.com/blog/bid/232700/How-to-Choose-the-Mortgage-Right-for-You#comments-listing) Tags: [Get prequalified online](https://blog.blrmortgage.com/blog/topic/get-prequalified-online), [first-time home buyer](https://blog.blrmortgage.com/blog/topic/first-time-home-buyer), [choose a mortgage](https://blog.blrmortgage.com/blog/topic/choose-a-mortgage) ## [What to Expect at Closing for a Home Loan](https://blog.blrmortgage.com/blog/bid/225114/What-to-Expect-at-Closing-for-a-Home-Loan) Posted by [Scott McElmurry](https://blog.blrmortgage.com/blog/author/scott-mcelmurry) on Tue, Sep 25, 2012 @ 10:43 AM - [Tweet](https://twitter.com/share) [![](https://blog.blrmortgage.com/hs-fs/file-18405225-jpg/images/hires.jpg) ](https://blog.blrmortgage.com/blog/bid/225114/What-to-Expect-at-Closing-for-a-Home-Loan) The final step in buying a home is the closing. When you close on a home, you are finally making the home yours. [Read More](https://blog.blrmortgage.com/blog/bid/225114/What-to-Expect-at-Closing-for-a-Home-Loan) 0 Comments [Click here to read/write comments](https://blog.blrmortgage.com/blog/bid/225114/What-to-Expect-at-Closing-for-a-Home-Loan#comments-listing) Tags: [Closing](https://blog.blrmortgage.com/blog/topic/closing), [first-time home buying](https://blog.blrmortgage.com/blog/topic/first-time-home-buying) ## [What Costs are Included in a Mortgage Payment?](https://blog.blrmortgage.com/blog/bid/223107/What-Costs-are-Included-in-a-Mortgage-Payment) Posted by [Scott McElmurry](https://blog.blrmortgage.com/blog/author/scott-mcelmurry) on Wed, Sep 19, 2012 @ 05:03 PM - [Tweet](https://twitter.com/share) [![](https://blog.blrmortgage.com/hs-fs/file-18407932-jpg/images/istock_000020042043xsmall.jpg) ](https://blog.blrmortgage.com/blog/bid/223107/What-Costs-are-Included-in-a-Mortgage-Payment)                                                                                                          So before you apply for a mortgage and settle on a property, make sure you are capable of paying back more than what you have borrowed. During the approval process, your mortgage bank will assist you in helping you plan out your payment process and understand exactly what you can afford. [Read More](https://blog.blrmortgage.com/blog/bid/223107/What-Costs-are-Included-in-a-Mortgage-Payment) 1 Comment [Click here to read/write comments](https://blog.blrmortgage.com/blog/bid/223107/What-Costs-are-Included-in-a-Mortgage-Payment#comments-listing) Tags: [what is involved in buying a home](https://blog.blrmortgage.com/blog/topic/what-is-involved-in-buying-a-home), [Mortgage payment](https://blog.blrmortgage.com/blog/topic/mortgage-payment) ## [How to Prequalify and Get Preapproved for a Mortgage Online](https://blog.blrmortgage.com/blog/bid/214221/How-to-Prequalify-and-Get-Preapproved-for-a-Mortgage-Online) Posted by [Scott McElmurry](https://blog.blrmortgage.com/blog/author/scott-mcelmurry) on Tue, Sep 04, 2012 @ 08:48 AM - [Tweet](https://twitter.com/share) [![](https://blog.blrmortgage.com/hs-fs/file-18408108-jpg/images/istock_000020610076xsmall.jpg) ](https://blog.blrmortgage.com/blog/bid/214221/How-to-Prequalify-and-Get-Preapproved-for-a-Mortgage-Online) Looking for a home can be a daunting process that involves several different details and substantial amount of money. You have to be concerned about what mortgage you can afford, whether or not you should apply for a fixed rate or an adjustable rate and what your closing cost fees will be. [Read More](https://blog.blrmortgage.com/blog/bid/214221/How-to-Prequalify-and-Get-Preapproved-for-a-Mortgage-Online) 1 Comment [Click here to read/write comments](https://blog.blrmortgage.com/blog/bid/214221/How-to-Prequalify-and-Get-Preapproved-for-a-Mortgage-Online#comments-listing) Tags: [preapproval](https://blog.blrmortgage.com/blog/topic/preapproval), [prequalification](https://blog.blrmortgage.com/blog/topic/prequalification) ## [Is Now the Right Time For Refinancing Your Home?](https://blog.blrmortgage.com/blog/bid/205280/Is-Now-the-Right-Time-For-Refinancing-Your-Home) Posted by [Scott McElmurry](https://blog.blrmortgage.com/blog/author/scott-mcelmurry) on Thu, Aug 16, 2012 @ 10:14 AM - [Tweet](https://twitter.com/share) [![](https://blog.blrmortgage.com/hs-fs/file-18406589-jpg/images/istock_000018421588xsmall.jpg) ](https://blog.blrmortgage.com/blog/bid/205280/Is-Now-the-Right-Time-For-Refinancing-Your-Home) With mortgage rates at an all-time low, now may be a great time for a mortgage refinance. By refinancing your home, you might find a better interest rate or get out of an upwardly adjustable rate loan. And mortgage rates may stay low, because the Federal government wants to keep money flowing to try to stimulate the economy.  How long is, of course, not guaranteed. [Read More](https://blog.blrmortgage.com/blog/bid/205280/Is-Now-the-Right-Time-For-Refinancing-Your-Home) 0 Comments [Click here to read/write comments](https://blog.blrmortgage.com/blog/bid/205280/Is-Now-the-Right-Time-For-Refinancing-Your-Home#comments-listing) Tags: [How do I refinance](https://blog.blrmortgage.com/blog/topic/how-do-i-refinance), [what is exactly is a mortgage refinance](https://blog.blrmortgage.com/blog/topic/what-is-exactly-is-a-mortgage-refinance) [Previous Page](https://blog.blrmortgage.com/blog/author/scott-mcelmurry/page/2) [All Posts](https://blog.blrmortgage.com/blog/all) [Next Page](https://blog.blrmortgage.com/blog/author/scott-mcelmurry/page/4) ### Subscribe Email ### Latest Posts ### Posts by category - [choose a mortgage (10)](https://blog.blrmortgage.com/blog/topic/choose-a-mortgage) - [Closing (1)](https://blog.blrmortgage.com/blog/topic/closing) - [credit score (1)](https://blog.blrmortgage.com/blog/topic/credit-score) - [Current mortgage rates (6)](https://blog.blrmortgage.com/blog/topic/current-mortgage-rates) - [first-time home buyer (5)](https://blog.blrmortgage.com/blog/topic/first-time-home-buyer) - [first-time home buying (6)](https://blog.blrmortgage.com/blog/topic/first-time-home-buying) - [Get pre-qualified online (1)](https://blog.blrmortgage.com/blog/topic/get-pre-qualified-online) - [Get preapproved online (2)](https://blog.blrmortgage.com/blog/topic/get-preapproved-online) - [Get prequalified online (3)](https://blog.blrmortgage.com/blog/topic/get-prequalified-online) - [how do I calculate my credit score (1)](https://blog.blrmortgage.com/blog/topic/how-do-i-calculate-my-credit-score) - [How do I refinance (6)](https://blog.blrmortgage.com/blog/topic/how-do-i-refinance) - [How to buy a home (7)](https://blog.blrmortgage.com/blog/topic/how-to-buy-a-home) - [mortgage insurance (2)](https://blog.blrmortgage.com/blog/topic/mortgage-insurance) - [Mortgage payment (5)](https://blog.blrmortgage.com/blog/topic/mortgage-payment) - [mortgage rates (6)](https://blog.blrmortgage.com/blog/topic/mortgage-rates) - [preapproval (1)](https://blog.blrmortgage.com/blog/topic/preapproval) - [prequalification (1)](https://blog.blrmortgage.com/blog/topic/prequalification) - [refinance your home (1)](https://blog.blrmortgage.com/blog/topic/refinance-your-home) - [Rent vs. Buy (1)](https://blog.blrmortgage.com/blog/topic/rent-vs-buy) - [what is a credit score (1)](https://blog.blrmortgage.com/blog/topic/what-is-a-credit-score) - [what is exactly is a mortgage refinance (1)](https://blog.blrmortgage.com/blog/topic/what-is-exactly-is-a-mortgage-refinance) - [what is involved in buying a home (2)](https://blog.blrmortgage.com/blog/topic/what-is-involved-in-buying-a-home) ### Follow Me © 2015 [Privacy/Legal](https://blrmortgage.hs-sites.com/blog) [Site Map](https://blrmortgage.hs-sites.com/blog)