If you’re looking to purchase or refinance a home, and you have not filed your 2021 tax return yet. And this goes for any year, here’s what you need to know as it relates to showing income. Let’s say you’re self-employed or you’re a W2 employee and you have additional income sources. Such as…
Here is what the federal reserve’s change to monetary policy on June 15th, 2022, means for mortgage rates. If you’re buying or refinancing a home the information in this article is for you. The Federal Reserve increased interest rates on June 15th by 75 basis points. This is to curb surging inflation and tame what…
On June 3rd Freddie Mac announced changes to Freddie Mac conventional mortgages for single-family homes with granny units. These changes allow for expanded financing on Freddie Mac mortgages. So, if you’re looking for a mortgage that has a single-family residence with a granny unit this information might be for you. The following changes at Freddie…
Everyone knows buying a house right now is challenging. Across the nation is a competitive real estate market brought on by an exceptionally low supply on a national level. As a result, in most markets throughout the country, homes are going over the asking price based on other competitive offers bidding up the homes. That…
Getting a mortgage is not as simple as showing your ability to pay, having good credit, and good down payment. It also must pass a test period of Fannie Mae and Fannie Mac’s automated underwriting. This is something you should be aware of as it pertains to buying or refinancing a home. If your situation…
As the real estate market continues to become increasingly competitive, you might find yourself making offers on homes above the asking price. Possibly even waiving contingencies on the advice of your real estate professional, and still finding that you’re losing to competition on the house. This is something occurring nationally right now as most markets…
It is no surprise that interest rates are on the rise. As interest rates rise home spending power i.e., buying power diminishes. If the same loan amount and the same purchase price now cost more per month that can start to wane on your debt-to-income ratio which could prove to be problematic with your mortgage…
The Federal Reserve increased the Fed funds rate by 25 points to slow down the highest inflation seen in 30 years. As a result, here’s what this means for interest rates, credit cards, and home equity lines of credit. In short, everything is going up. Mortgage rates are also higher but not because of…