Are you struggling to keep up with high-interest expenses? Maybe you have credit card debt and are fighting to pay it off monthly. One option you may want to consider is a cash-out refinance. Refinancing can allow you to access funds from your home’s equity to pay off these expenses at a lower interest rate …
What is a Jumbo Loan?
When is a regular mortgage not enough? When the loan amount to purchase a property exceeds the conforming loan limit of $726,200*. To understand a Jumbo loan, you must understand two other terms: conforming and non-conforming loans. Conforming loans adhere to the loan limit guidelines set by the Federal Housing and Finance Agency (FHFA). Conversely, …
It’s a great time to sell, but where will you go?
It’s a great time to sell your home, so what are the options after you do? When you finally decide to put your home on the market and consult with your realtor about how to price it correctly, the next step is determining where you will go. Home prices have appreciated significantly over the past …
Florida Hometown Heroes program receives $100 million and expands to include more homebuyers
Update! Florida Housing will release more funds beginning July 1, 2024 for the HTH Program! Read more and get started now! Florida Housing will receive $100 million in additional funding beginning July 1, 2023, for the Florida Hometown Heroes Housing Program. Before July 1, 2023, the Hometown Heroes program offered eligible borrowers a maximum amount …
What is a mortgage rate lock?
Mortgage rates change a lot. They can move up or down throughout the day. They can be subject to many things, from the Federal Reserve (The Fed) announcing a rate increase to events occurring in the US or worldwide. You may have a conversation with your loan officer today only to learn that the rate …
Pre-approvals vs. pre-qualifications for home loans
A look at pre-approvals vs. pre-qualifications for home loans When you decide to buy a home, it’s important to understand the difference between a pre-approval and a pre-qualification. For example, a pre-approval at Mortgage Equity Partners involves an underwriter evaluating your credit history, income, and assets and issuing a loan commitment letter stating the amount …
