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…
With interest rates as high as they are consumers want adjustable-rate mortgages for payment relief. If you’re thinking about an adjustable-rate mortgage versus a fixed-rate mortgage here are some things, you need to be aware of… The first few years of the mortgage loan are called a teaser rate. A teaser rate is short-term and…
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…
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…
Consumers are no strangers to the present economic times we are living in right now as everything is rising, and inflation is rampant virtually everywhere. Gas prices, stock prices, housing prices, mortgage rates the list goes on. As cost rises the need to borrow money also increases. If you have been thinking about doing…
You’re trying to purchase or refinance a home. You have an ex that you’re dealing with that you were either married to or on the title to a property with. The mortgage process depends on what that communication looks like with that other person. It could be very easy or more technical and challenging. Yes,…
Maintaining a personal budget and having a good financial plan associated with your income is a good 1st step in preparing yourself to get mortgage loan financing. Whether you are buying a home or refinancing, consumer debts matter. It can make or break your situation. Here are some things you might want to give some…
One of the big questions on the minds of consumers looking to purchase or refinance a home is what’s going to happen with interest rates in 2022. Interest rates, while they remain at historical lows, may experience some movement in 2022. Here’s what you should come to expect if you’re going to be buying a…