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!
Check out the new release below. Conforming loan limits will increase from $417,000 to $424,100 in 2017. This is the first increase in almost 10 years. FHFA Announces Increase in Maximum Conforming Loan Limits for Fannie Mae and Freddie Mac in 2017 FOR IMMEDIATE RELEASE 11/23/2016 Washington, D.C. The Federal Housing Finance Agency (FHFA) today […]Read More Conforming Loan Limits to increase from $417k to $424k in 2017!
From my friends at TheTBWSgroup – Housing demand is rising rapidly, but a key cog in the wheel to homeownership is in deep trouble. The people most needed to close the deal are disappearing. Appraisers, the men and women who value homes and whom mortgage lenders depend upon, are shrinking in numbers. That is causing growing […]Read More Closing Delays Linked to Appraisers??
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