Jim Potts

Synergy One Lending

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Understanding the Mechanics of a HELOC Loan

September 1, 2023 by Jim Potts

A Home Equity Line of Credit is a type of loan that allows homeowners to borrow against the equity they have built in their property. Equity is the difference between the home's current market value and the outstanding mortgage balance. HELOCs are typically offered by banks, credit unions, and other financial institutions and are often regarded as a "second mortgage."

Filed Under: Loan Tips Reno Tagged With: HELOC, Interest Rates, Mortgage

Buying A Home With Cash Versus Low Interest Rate Mortgages

May 16, 2023 by Jim Potts

When deciding whether to buy a home with cash or to obtain a low-interest-rate mortgage, there are several factors to consider. A cash offer can be very competitive in a real estate market, as it can give the buyer a significant advantage over buyers who need to obtain financing through a mortgage.

Filed Under: Loan Tips Reno Tagged With: Cash or Finance, Interest Rates, Mortgage

What’s Ahead For Mortgage Rates This Week – May 1, 2023

May 1, 2023 by Jim Potts

Last week's economic reporting included readings on home prices, sales of new homes, and pending home sales. Monthly and year-over-year readings for inflation were published along with weekly reports on mortgage rates and jobless claims.

Filed Under: Loan Tips Reno Tagged With: Financial Report, Interest Rates, Jobless Claims

Navigating A Market With Higher Interest Rate

March 22, 2023 by Jim Potts

Even though interest rates have gone up significantly during the past few months, there are still opportunities for you to find a home at a great price. The high interest rate can be discouraging for some people, but as long as you know how to navigate the market, you can still put yourself in a position to be successful.

Filed Under: Loan Tips Reno Tagged With: Interest Rates, Mortgage, New Home

The Top Benefits Of A Single Close Construction Loan

March 1, 2023 by Jim Potts

If you are thinking about building your own home, you might be wondering how construction loans work. There are plenty of options available, but one of the most popular choices is a single-close construction loan.

Filed Under: Loan Tips Reno Tagged With: Construction Loan, Interest Rates, Mortgage

What’s Ahead For Mortgage Rates This Week – December 19, 2202

December 19, 2022 by Jim Potts

Last week's economic reporting included readings on inflation, retail sales, and the Federal Reserve's Federal Open Market Committee meeting. Fed Chair Jerome Powell held his scheduled post-meeting press conference and weekly readings on mortgage rates and jobless claims were also released.

Filed Under: Loan Tips Reno Tagged With: Interest Rates, Jobless Claims, Mortgage Rates

Why Banks Don’t Always Give The Best Interest Rate

July 14, 2022 by Jim Potts

If you want to purchase a house, you will probably have to take out a mortgage. There are only a few people who have enough cash to purchase a house outright, so most will go to the bank for a loan.

Filed Under: Loan Tips Reno Tagged With: Bank Loans, Interest Rates, Mortgage

3 Reasons You Should Trust in a Mortgage Advisor Instead of Trying to Predict Rates

June 16, 2022 by Jim Potts

If the time has come to purchase a home and you've been perusing the real estate market, it's possible you've also been considering the mortgage options that might work best for you. In the event that you're already spending a lot of time looking at homes and trying to sell your own, here are a few reasons you may want to leave your mortgage considerations to a professional.

Filed Under: Home Mortgage Tips, Loan Tips Reno Tagged With: Home Mortgage Tips, Interest Rates, Mortgages

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Jim Potts

Jim Potts


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