Baseline Conforming Loan limits will increase to $647,200 When the FHFA raises conforming loan limits, homeowners may get larger mortgage loans with lower interest rates. Conforming loans are generally the most attractive for homeowners since they are backed by Fannie Mae and Freddie Mac. Generally, they are the easiest to qualify for and have the …
Is reducing my rate the only reason to refinance?
The most common reason people refinance their home loans is to get a lower mortgage interest rate, which makes sense because it lowers your monthly payment and helps you save money each month. We have seen record low rates throughout the past year, which has sparked a refinance boom unlike any we have seen in …
Buying a home – what you need to know
Have you been thinking about buying a home but don’t know where to start? As a first-time homebuyer, the whole process can be intimidating. Luckily, there are professionals that are ready to help guide you through the process. First, you will need a realtor and a loan officer to answer all the questions that may …
How to protect your personal and financial information from identity theft
Identity theft and fraud are responsible for the loss of billions of dollars each year. Fraud can happen when someone uses your credit card to make purchases without your permission. However, identity theft is more complex. When someone steals your identity, it means that they got a hold of your personal data, such as your …
How to win a bidding war in today’s real estate market
When inventory is low, and demand for housing is high, buyers compete for the same property, and things can get crazy. How crazy, you ask? According to realtor.com, it is not unusual to see a home with 20 or 30 offers on it and sales prices at $50,000 to $100,000 over asking. It is easy …
Fannie Mae’s RefiNow Program is Now Available
What is RefiNow? Fannie Mae recently released their new RefiNow program. RefiNow is a government-backed program created to help low to moderate-income borrowers take advantage of the historically low-interest-rate environment. This program expands eligibility to help more homeowners refinance their mortgages. In addition, if homeowners were unable to qualify for a refinance during COVID due …
