Reverse mortgages have become an increasingly popular option for older adults to use as a strategic financial tool for retirement. Reverse mortgages, also known as Home Equity Conversion Mortgages (HECM), are still a somewhat misunderstood mortgage product; however, if appropriately used, a reverse mortgage can unlock …
Understanding mortgage interest rates
Are you considering buying a home but feeling overwhelmed by the process? There's a lot to take in, from finding the right real estate agent to learning about mortgages. Understanding mortgage interest rates is one of the most critical steps when purchasing your new home. Knowing what influences mortgage interest …
Continue Reading about Understanding mortgage interest rates
Conforming loan limits expected to rise in 2024
Conforming loan limits expected to rise in 2024 All signs point to the Federal Housing Finance Agency (FHFA) increasing the conforming loan limit from $726,200 in 2023 to $750,000 in 2024. The conforming loan limit refers to the annually adjusted dollar cap on the size of a mortgage that Fannie Mae and Freddie Mac …
Continue Reading about Conforming loan limits expected to rise in 2024
Fannie Mae introduces 5% down payment opportunity for multi-family homes!
Exciting announcement: Fannie Mae introduces 5% down payment opportunity for multi-family homes! Calling all aspiring real estate investors! Fannie Mae has made a groundbreaking policy shift to revolutionize your homeownership path. Starting November 18, 2023, they are rolling out a game-changing 5% down payment …
Continue Reading about Fannie Mae introduces 5% down payment opportunity for multi-family homes!
Understanding USDA Loans
Are you planning to buy a home in a rural area? If so, you may be eligible for a USDA loan. A USDA loan is a mortgage loan program backed by the United States Department of Agriculture (USDA) and offered through lenders like Mortgage Equity Partners to help individuals living in rural and some suburban areas purchase …
What is a Bank Statement Loan?
What is a Bank Statement Loan? For non-traditional wage earners who do not receive W2 forms, getting a mortgage to buy a home can be tricky. Traditional lenders often require W2 forms and tax returns as proof of income, which makes it difficult for self-employed individuals, freelancers, contractors, and other …
