According to a survey conducted by Bankrate.com, one in four Americans are considering buying a home this year. If this statistic proves to be true, that means that 59 million people will be looking to enter the housing market in 2017. The survey also revealed 3 key takeaways: Those most likely to buy are ‘Older […]Read More Are You 1 of the 59 Million Planning to Buy This Year?
FHA announced this morning that it is lowering the annual premium 25 bps. It is effective for loans with a closing or disbursement date on or after January 27th, 2017. By making the change effective for loans closed instead of case numbers assigned, it eliminates a lot of the confusion caused in 2015 when premiums […]Read More FHA Cuts Annual MIP!
FHA published the 2017 mortgage limits this afternoon. They follow the limits outlined in the FHFA announcement last week. The new FHA limits apply to case numbers assigned on or after January 1st, 2017. The new single-family “floor” is $275,665 and the new maximum loan amount in high cost areas is $636,150. For the Dallas-Fort Worth […]Read More FHA to Increase Loan Limits 2017!
Yes! In addition to VA & USDA we have the Wealth Builder Loan What Is the Wealth Building Loan? Designed as an equity-creating mortgage option, the Wealth Building Loan requires no down payment and offers offers eligible borrowers a 7-1 Adjustable Rate Mortgage with a 20-year amortization. Wealth Building Loan Benefits The Wealth Building Loan […]Read More Can you buy a home with NO down payment?
Your right to privacy is a significant concern for mortgage professionals who are involved in the solicitation, origination, processing, closing and servicing of mortgage transactions. Multiple laws protect the privacy of borrowers, and violation of these laws can result in serious liability. Privacy laws protect borrowers from the time they receive a solicitation for a mortgage […]Read More How Safe is Your Information & Documentation?
Answer: To remove private mortgage insurance you must be up to date with your monthly payments. And you have to reach the date when the principal balance of your mortgage is scheduled to fall to 80 percent of the original value of your home. GREAT info from the CFPB’s original article – here To remove private […]Read More Can I Remove Mortgage Insurance from My Loan?
GREAT words of wisdom from my friends over at KCM – There are some renters that have not yet purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent free, you are paying a mortgage – either your […]Read More Rent or Buy – Either Way You’re Paying a Mortgage