Jumbo Loans Availability Jumps; Should You Consider One?

Jumbo loans are more accessible than ever. According to the Mortgage Bankers Association, jumbo loan availability hit a record high in November, meaning it’s now easier for homebuyers to qualify for these larger-sized loans. Does that mean you should consider one for your home purchase? If so, what does it mean for your wallet? [...]

By |2020-01-09T10:34:32-05:00January 9th, 2020|Categories: Mortgage|Tags: , |

Freddie and Fannie Who?! 13 Mortgage Terms You’ve Heard and May Not Understand

The mortgage process can be pretty overwhelming — especially if it's your first time around the block. In fact, according to a recent study from credit bureau TransUnion, a whopping 34% of first-time homebuyers aren't familiar with a single mortgage financing option whatsoever. Another two-thirds of first-timers don't know who Fannie Mae and Freddie [...]

By |2020-01-08T10:37:29-05:00January 8th, 2020|Categories: Education, Mortgage|Tags: , , |

Housing Market Update for December 2019

With 2019 coming to a close, it's time to take a look at early fourth-quarter numbers and see what they might tell us about the new year ahead. Price and sales According to the National Association of REALTORS®, existing-home sales rose by 1.9% in October while the median price for a single-family home saw a [...]

By |2019-12-12T11:33:32-05:00December 13th, 2019|Categories: Mortgage, Real Estate Agents|Tags: |

Loan Limits Are Increasing — But Don’t Go Crazy

The Federal Housing Finance Agency announced late last month that conforming loan limits will jump in 2020, hitting just over $510,000. That’s up nearly $100K in the last four years. What’s more? The Department of Veterans Affairs is eliminating limits all together on its VA loans. Of course, this is good news for up-and-coming [...]

By |2019-12-10T14:10:15-05:00December 11th, 2019|Categories: Financial, Mortgage, News|Tags: , , |

What Is a Short Sale?

There are two main outcomes for a homeowner who can no longer afford their home, and whose home is worth less than the amount they owe on their mortgage. This is also known as being "underwater." Both outcomes aren't really ideal, unfortunately. The first option is to stop making mortgage payments and simply walk [...]

By |2019-11-18T09:27:14-05:00November 18th, 2019|Categories: Financial, Mortgage|

The Pros and Cons of Conventional Mortgages and FHA Loans

The two most common types of mortgages in the country today are conventional loans and FHA loans. Conventional mortgages conform to Fannie Mae/Freddie Mac guidelines and are a financial agreement between the lender and borrower. FHA loans are also between the lender and borrower, but the Federal Housing Authority backs FHA loans for borrowers [...]

By |2019-11-13T11:06:55-05:00November 13th, 2019|Categories: Mortgage|Tags: , |