The federal housing finance agency recently released its 2023 conforming loan limit. The new loan limit for 2023 is $715,000. Here is what this means if you’re purchasing or refinancing a home… Each year the Federal Housing Finance Agency which oversees Fannie Mae and Freddie Mac releases its annual loan limit. The annual loan limit…
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Consumers who are preapproved and looking to buy a home are sometimes getting shell shock as relates to the mortgage payment. The rate, the purchase price, and the cash-to-close may change the cost to buy a home. Here are things you might want to do if you are buying a house… We are presently in…
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For those consumers out there, who have been on the fence about refinancing their mortgage or buying a home because of concern about interest rates, pay close attention to the facts. The economic drivers of rates are a tall tale sign of the future of mortgage rates… Inflation has driven mortgage rates up in the…
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Fed funds recently increased the rate by 75 basis points. This change to monetary policy also means your home equity line of credit costs more. The following is what you must know about a home equity line of credit… Home equity lines of credit are tied to the prime rate which is the Fed funds…
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You want to buy a house but you’re not sure if now is the right time with all the variables up in the air. It’s a big decision and one that should not be taken lightly. If you’re thinking about purchasing a home in the next few years, here are some things you should give…
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People looking to buy or refinance a home may have been turned down by another mortgage company based on their financial situation. If you’ve been turned down before and you think all odds are against you don’t give up. The first step to failure is not to try. Simply put don’t be that customer that…
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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…
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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…
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