Salem, NH Mortgage News



Back to school, back to life!


The start of school signals that summer is unofficially over. The lazy days of summer are done and we get back to our routines. One of those routines should be checking your mortgage rate.


Call me at 603-893-6616 for your free Mortgage Check-up.

Let’s look at your current rate and see if we can improve it.


Michael Loffredo, CMC

Posted in:General and tagged: Mortgage
Posted by Michael Loffredo, CMC on August 29th, 2017 11:41 AM


Exciting opportunity to be part of a new neighborhood!  


New homes are being built conveniently off of I93 in Manchester, NH.   Your new home will be ready this summer!


Call me today 603-893-6616 if you or someone you know would like to be pre-qualified for one of these beautiful new homes!



Proudly built by Gary Chicoine Construction Corp.
22 B&B Lane, Weare NH 03281



Call today 978-815-7574,•	9 Lots to Choose from.  
•	Prices starting at $395,000
•	Your Choice of Three Home Plans
•	3 Bedrooms, 2+ Baths, Custom Colonials


Visit our website at

Keller Williams Realty 130 Main St Salem NH 03079  Office 603.912.5470

















Posted in:General
Posted by Michael Loffredo, CMC on February 24th, 2017 3:21 PM

I found this great article on how to create a home inventory of all your belongings. This is great for insurance purposes and estate planning:

Posted in:Home, Insurance
Posted by Michael Loffredo, CMC on January 6th, 2017 2:31 PM

We are thankful for you!



Posted in:General
Posted by Michael Loffredo, CMC on November 23rd, 2016 11:15 AM

A U.S. presidential candidate is required to be at least 35 years old, a permanent US resident for at least 14 years and considered a natural US born citizen


Martin Van Buren was the first natural-born American to become president in 1837. Each of the seven previous presidents were born as British subjects.


The first U.S. presidential election was in 1789. Only white men who owned property could vote, a stipulation that prohibited 94% of the population from casting a ballot


The 1800 election year was so heated that vice president Aaron Burr ended up killing Alexander Hamilton in a duel


George Washington is the only U.S. president in history to win 100% of the Electoral College vote. This is mainly because organized parties weren’t yet formed, and he ran unopposed


The oldest presidential candidate to be elected is Ronald Reagan at 69 years old. The youngest is John F. Kennedy at age 34


The ultimate “whoops” moment in a U.S. presidential election happened when the Chicago Daily Tribune mistakenly declared that Dewey beat Truman in 1946


It is illegal to drink alcohol in Kentucky and South Carolina on election day


Few other parts of the Constitution have been so criticized as the Electoral College because it can deny the will of the people. And it has in four elections


The first woman to run for U.S. President was Victoria Woodhull in 1872, nearly 50 years before the 19th Amendment allowed women to vote in presidential elections. Her running mate, Frederick Douglass, was the first African-American ever nominated for Vice President


The tallest U.S. President was Abraham Lincoln at 6’4?The shortest U.S. President was James Madison at 5’4?





Don’t forget to turn your clocks back this Saturday!




Posted by Michael Loffredo, CMC on November 2nd, 2016 3:45 PM

Happy  Halloween!




Halloween Fun Facts


When trick-or-treating first became popular in the United States in the 1800s, more children played mischievous pranks than asked for candy. By the 1950s, though, the focus had switched to good old family fun, with sugar-hyped children dressed in costumes.


Chocolate makes up about three-quarters of a trick-or-treater’s loot, according to the National Confectioners Association.


Candy corn has been made with the same recipe by the Jelly Belly Candy Company since around 1900.

Halloween candy sales average about 2 billion dollars annually in the United States

The fear of Halloween is known as Samhainopobia.

If you see a spider on Halloween, it is the spirit of a loved on watching over you.

The Ouija Board ended up outselling the game of Monopoly in its first full year at Salem. Over two million copies of the Ouija Board were shipped.

Jack-o’-lanterns were once made out of turnips, beets and potatoes — not pumpkins.

Safety Driving Tips

  1. Salem trick-or-treating hours are 6:00 9:00 p.m. on Monday October 31 so be especially alert for kids during those hours.

  2. Kids are excited for Halloween and will be anxious to get to the next house and can be unpredictable in their movements so drive a little slower and be more alert in residential neighborhoods

  3. Take extra time to look for kids at intersections, on medians and on curbs.

  4. Enter and exit driveways and alleys slowly and carefully.

  5. Eliminate any distractions inside your car so you can concentrate on the road and your surroundings.

  6. Drive slowly, anticipate heavy pedestrian traffic and turn your headlights on earlier in the day to spot children from greater distances.

Posted by Michael Loffredo, CMC on October 28th, 2016 11:48 AM

Government mortgages refer to those programs that are backed or insured by our federal government. Some are partially insured, such as FHA, and some are fully guaranteed, like VA.

These government backings allow banks to make these loans to lesser qualified borrowers or lower down-payment buyers and therefore expand homeownership throughout the country.

Here is a sample of these programs:


VA- the VA loan is for military veterans and their spouses. There is no minimum down payment required so many vets can purchase homes with zero down. There is also no pmi but the VA requires an up-front funding fee of 1.5%- 3.3%, depending on the loan type. This up-front fee is financed so the veteran still does not have to pay it out in cash. These features make the VA the least expensive government mortgage program.


USDA- otherwise known as Rural Housing. This program also offers zero down but is only open to home buyers in certain rural areas that also meet the low to moderate income limits. Income limits vary by county so check this chart for your local area:

USDA mortgages have a pmi-like monthly fee, but offer rates as low as VA and FHA.


FHA- the largest government program and is open to all borrowers in all areas regardless of income. FHA has the most tolerance for lower credit scores and allows higher debt-to-income ratios. These loans do require monthly mortgage insurance (mi) and an up-front mi portion that is financed on top of the beginning loan amount. FHA loans have a minimum down payment of 3.5%.  

Call Omni Mortgage at (603)893-6616 today for more details!

Posted by Michael Loffredo, CMC on September 30th, 2016 1:41 PM

 A mortgage broker is an independent financial professional who specializes in the origination of residential mortgage loans. They have had a significantly positive impact on the lending industry and have become a key strategy used by many borrowers.

Mortgage brokers have to take regular educational courses and pass rigorous exams to be licensed.

Why use a broker?

In the unpredictable mortgage market mortgage brokers can serve as safeguards, offering their clients peace of mind in the navigation of a complicated process. We constantly monitor and guide your home loan through underwriting, approval, and closing. A mortgage broker will review piles of program options and variables to come up with the best loan for the client’s individual needs. Working with many lenders and funding sources they can shop for the best program, rate and closing cost options.

The difficulty of the mortgage process, including the need to gather reams of paper documents is one of the reasons for the success of the local mortgage broker segment, and their technology allows them to work with borrowers in various ways including on line, or in person.

Mortgage brokers offer the largest number of options, since they can shop your loan among many lenders. And if your loan can be done, a broker will find a place to do it. In general, banks have the fewest options available because they offer only their own products.

Going with a really honest broker will without a doubt result in better pricing and service than anywhere else. Omni Mortgage Company in Salem, New Hampshire has built such a reputation of trust and reliability. So call Omni Mortgage Company today at (603)893-6616.

Posted by Michael Loffredo, CMC on September 16th, 2016 2:34 PM
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Omni Mortgage Company, Inc.
NMLS#: 1954

Michael Loffredo NMLS 12192

224 Main Street Suite 1A
Salem, NH 03079-3187