The Federal Housing Finance Agency announced on Tuesday, November 29th the new loan limits for 2023. The new conforming loan limit has increased and has been year over year 7 years in a row. If you’re thinking about purchasing or refinancing a home in 2023 here is what you need to know… The loan limit…
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Getting mortgage loan financing requires you providing a blend of good cash, ample credit, and income to offset a proposed new expense i.e. a mortgage loan. You must have the right blend of all three in order to purchase or refinance a home. What might not make sense however is the lifeline that’s going to…
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Many mortgage companies along with the internet would have you believe getting a mortgage with bad credit cannot happen. It is true the process will be more difficult and challenging, but it is not impossible. If your desiring to refinance your property or buy a home with less than perfect credit the following information will…
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The Federal Housing Finance Agency which oversees loans bought by Fannie Mae and Freddie Mac announced to change to the conforming loan limit last week. Here’s what the change means for you… Every year the Federal Housing Finance Agency releases its loan limits for the next year. Over the last 4 years, the agency has…
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When buying a home most would believe the number one most important thing you need to be focused on is what you pay for the house. Mom and dad who bought their house years ago, Grandma and Grandpa who bought their house back in the early 1980s when housing prices were $40,000 all have an…
Read More Securing mortgage loan financing is the cornerstone of financial prosperity in America. It’s one of the biggest decisions you’ll ever take on your life. Here’s watch to avoid when applying for a high-ticket mortgage… Make no mistake the way mortgage companies must originate loans is 100% controlled by the federal government. That means the “asks”…
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Traditionally, self-employed mortgage borrowers are more heavily scrutinized by mortgage companies because of their gyrating income. If their business stops the revenue stops and their ability to make a mortgage payment could be impacted. That’s the rationale behind why lenders look at self-employed borrowers more stringently. Lenders request both personal and or corporate returns from…
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Purchasing a house is representative of so many different things in life depending on who you ask. Buying a lot and constructing is a monstrous project requiring long-term planning. Here’s some things to consider if you’re trying to weigh out the options… Let’s first look at the example of building home. Building a home…
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