With the holidays just around the corner, many of us have started to drag out our heavier sweaters and winter coats, hoping warmer temps last a bit longer but being on the safe side just in case. Once winter arrives, all bets are off, and if you live in colder …
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How will the outcome of this Presidential election affect housing? The research all points to positives. The Meyers Research group looked at the past 13 election cycles and found an approximate 15% drop in sales activity in the November of a federal election year. But their research notes that “the …
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As a first-time homebuyer, you’re likely concerned about the financial obligations that come with owning a home. How much can you expect to pay each month? What about taxes? How can you best protect your investment? Similar to other large purchases, like a car or a boat, homeowners are expected …
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Frequently Asked Questions What is an FHA loan? An FHA loan is a type of government-backed mortgage that is guaranteed by the Federal Housing Administration and offered by private lenders that are FHA-approved. Because FHA loans are guaranteed by the government, lenders are able to have more flexible borrower requirements …
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Mortgage origination volume is expected to hit a whopping $ 4 trillion for the first time ever. The historically low-interest-rate environment has caused a boon in refinances and purchases, pushing Fannie Mae’s economists to up their predictions for 2020. While refinances are leading the way currently, the purchase market is …
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Last week, we pulled together six common mortgage-related terms and phrases that potential homeowners might be spooked by. Have no fear; this week, we dig up another half-dozen! 6 more not-so-scary mortgage terms you should know 1 — Credit Report & Credit Score To understand your creditworthiness (how risky …
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Refinancing a loan with the same lender can save you time and may require less paperwork. But is it a good idea? This article takes a look at the pros and cons of refinancing with your current lender and how you can ensure you get the best deal. Rate Search: …
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There are many different types of home loans you can apply for. The most common type of mortgage used today is a conforming loan. This article takes an in-depth look at conforming loans, what they are, and who qualifies. Rate Search: Check Today’s Mortgage Rates What is a Conforming Loan? …
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2020 FHA Loan Limits Property Size Low Cost Area “Floor” High Cost Area “Ceiling” Guam, Hawaii, Alaska, U.S. Virgin Islands $ 1,148,400 $ 1,470,475 Three units $ 1,184,925 $ 1,777,375 Four units $ 1,472,550 $ 2,208,825 Check the FHA Loan limit in your county on the HUD website What is …
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