126 Main Street, Suite 1C, Ludlow, Vt.
Victoria Blodgett is the production manager and home loan professional at PrimeLending in Ludlow, and she is here to help guide you through the process of buying, renovating, or refinancing your home. Blodgett has been in the field for 16 years. “I went right from college into the origination business in 2002,” she explained. She’s been with PrimeLending for five years, and she opened her office in Ludlow in June of 2016.
PrimeLending offers over 400 lending programs, but typically they use a select handful of programs that cater to customers’ specific needs. These programs may include first-time homebuyers, second-homeowners, investment properties, renovation loans, or refinancing options. “Typically someone will call about a preapproval,” Blodgett explained, “and I listen to what their needs are, and pair it with a program that we offer.” It’s about finding out with the clients’ goals are, and matching a loan program to them.
The PrimeLending home buying process starts with you. When you start your mortgage application, you will determine a price range, compare loan options, decide on an amount for a down payment, and get prequalified for your loan. Blodgett and her team will guide you through your loan application and approval, locking in a rate, obtaining title insurance, scheduling a closing, and answer any questions that you may have along the way. “You’ll always know where you stand and what comes next.”
Blodgett will assist you in appraising the property to ensure it is valued correctly, performing a legal search on the property title, and pulling your credit. “One of the most important factors in getting that favorable rate on your mortgage is your credit score.” Blodgett can help you determine what that number is, and what a comfortable budget would be for you. Her team will help you calculate an affordable monthly payment, and a down payment, which “is based on a percentage of the home’s selling price, and is due at closing.”
Closing costs vary by the lender, and typically range from 2-7 percent of the purchase price. Those costs include: prepaid expenses, such as homeowner’s insurance or mortgage insurance; discount points, which helps reduce the loan’s interest rate; and out-of-pocket expenses, such as fees for appraisals, attorneys, credit reports, home inspections, and other miscellaneous expenses.
When it’s time to close on your loan, PrimeLending will be by your side when you sign your papers, pay closing costs, and take ownership of your new home.
Blodgett is available by appointment Monday through Friday. Her flexible hours allow her to go in later at night, or whenever her clients are available. She can be reached at 802-975-0350 or by email at firstname.lastname@example.org.