Are you looking to afford a mortgage? A 50 year mortgage may be an option, but here are some things to consider when looking at a long mortgage term. These loans are not bought and sold by Fannie Mae or Freddie Mac. They are smaller banks and portfolio lenders that offer unique financing and as…
In order to buy a home, you need to have a balance of good credit, manageable debt, stable income and sufficient savings. Maintaining a balance between these four categories is challenging enough on its own, never mind coming up with enough cash to close on your potential new home. The amount of money you have…
The mortgage industry has gone through some changes in the last three months. If you are looking to finance a home in 2017, it is important that you know what the opportunities are and how to capitalize on them. Over the next 12 months, keep these items in mind as you consider your financing arrangements:…
Costs to secure your financing are a big factor when it comes time to getting a mortgage. Knowing why your loan costs (X) dollars is critical in being able to better understand how lenders price loans in the marketplace. This is what you need to know… All loans have fees. All fees are paid for by…
If you own a manufactured home, or if you are looking to purchase one, here is what you need to know when it comes to mortgage loan financing: Manufactured homes are not the same thing as modular homes. Manufactured homes are constructed, purchased at a dealer, and then moved to their final destination where they…
Just before Thanksgiving the Federal Housing Finance Agency released the conforming loan limits change for 2017. This change resulted in higher loan limits beginning in January for many counties across the country. The FHA has now followed suit. Here is what to know about the FHA Loan Limits changes… The Federal Housing Administration is the…
The Federal Housing Finance Agency just recently released that the loan limits for 2017 are going up. In many areas throughout the country loan amount sizes are increasing. In particular the conforming loan limit has also risen from $417,000 to $424,100. Here’s what this means… Rising loan limits make it easier to secure mortgage financing.…
As prices continue to climb many are wondering if there’s going to be a pop similar to the financial crisis. Here is the reality of mortgage and housing market… The financial crisis was brought on by the subprime meltdown. The subprime mortgage products that were available led to the financial collapse of America and the…