For years, one of the most frustrating limitations in FHA lending was the inability to use boarder income—that is, rent paid by someone living in your home—to help qualify for a mortgage. Fortunately, that has now changed. With the release of HUD Mortgagee Letter 2025-04, FHA has introduced updates that allow for the use of…
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Can You Have Two FHA Loans at Once? Here’s What You Need to Know FHA loans are designed to help people buy primary residences—not investment properties, second homes, or vacation getaways. That’s why, under normal guidelines, you can only have one FHA loan out at a time. But what if your life circumstances change and…
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What Happens If Fannie Mae and Freddie Mac Go Private? The housing market as we know it is built on a critical but often overlooked foundation: Fannie Mae and Freddie Mac. These two government-sponsored enterprises (GSEs) have been in federal conservatorship since 2008, following the financial crisis, and they remain under the oversight of the…
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Maximizing Your Home Buying Power with Seller Credits When purchasing a home, every dollar counts. Whether you’re putting down 3.5% with an FHA loan or opting for a conventional route with 10% or 20% down, understanding how seller credits work can be a game-changer. These credits can significantly reduce your out-of-pocket expenses, lower your monthly…
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Mortgage Rates in April 2025: What’s Driving the Volatility and What Comes Next As of April 2025, mortgage rates are experiencing notable fluctuations, reflecting the broader economic uncertainties. The average 30-year fixed mortgage rate has hovered around 6.6% to 6.85% in recent weeks, influenced by various macroeconomic factors. Key Factors Influencing Current Mortgage Rates Federal…
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Not every borrower fits neatly into the traditional mortgage box—and that’s okay. Whether you’re self-employed, investing in rental properties, have complex income streams, or experienced credit hiccups, there are still options available. That’s where non-QM loans come in. Non-QM (non-qualified mortgage) loans are designed for borrowers who don’t meet the standard income, credit, or documentation…
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When qualifying for a home loan, one challenge many borrowers face is presenting irregular or fluctuating income in a way that accurately reflects their long-term earning potential. Both Fannie Mae and Freddie Mac provide guidelines that allow mortgage lenders to use an averaged income approach to assess a borrower’s ability to repay a mortgage. This…
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If you’re looking to buy a house but want to avoid the income limits and red tape often associated with traditional down payment assistance programs, Security National Mortgage Company (SNMC) offers a solution. Their unique FHA program allows you to buy a home without the usual restrictions, making it easier to achieve homeownership. This program…
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