The maximum baseline conforming loan limit is increasing from 417k to $424,100 in 2017. The max conforming loan has been $417k since 2006. Home prices were 1.7% higher in the third quarter of 2016 than during the same period in 2007. This is according to Federal Housing Finance Agency’s Home Price Index. The increase to…
Friday saw worsening in the bond markets, which has negatively affected interest rates. The last time rates went this high was July of 2015. The speculation is that investors don’t want to hold long positions with bonds out of fear of inflation. …or, in other words they fear inflation may occur under new economic policies…
I’ve written alot of Reports over the years. I had someone ask me for the No Money Down Report the other day and I wanted to make the report available to you again here… How To Buy A House With No Money Down, Have A Super Low Rate, And Be In The Area You Want.…
I hope you had a good holiday weekend! The bond markets reacted to the presidential election last week by having a huge sell off. …The result is mortgage rates spiked, and rose a quarter of a point in two days. This sell off will stop. It could be today, or it could take a little…
Did you know when you purchase a home you can ask the seller to help pay your closing costs, prepaid taxes and insurance, and interest? You can! I’ve listed the maximum seller contribution amounts per loan program below… Program: Conventional (fannie/freddie), owner occupied… 1) 25% or more down payment = 9% allowed seller contribution. 2)…
I had a borrower recently use a reverse mortgage to purchase a house, and I wanted to tell you their story. …because I think it’s a good example of a neat way to use a reverse mortgage to upgrade your home. The borrowers were recently retired, and now living on a fixed income. They owned…
Here are two quick credit tips for you… 1) 30% of your score is made up of the ratio between your available credit vs your actual balances on revolving credit accounts (like credit cards). You don’t want to charge these accounts over 50% of the available balance, and its even better if you can keep…
We want to be able to use your bonus income to help you get a mortgage. However, here are three big guidelines to be aware of for us to be able to count your bonus income: 1) We can’t use bonus income or overtime income unless you can prove you have been receiving this income…
I wanted to quickly go over the waiting period various loan programs have for Foreclosure. FHA – 3 years from completion date. Exceptions with extenuating circumstances are allowed. VA – 2 years from completion date with an automated system refer. Fannie Mae – 7 years from completion date, or if you can get an automated…
Before you go house hunting make sure you have enough money available to get your loan approved and your house closed. …I know it sounds simple, but many people don’t realize the amount of funds they will need to get into a house. Here is a simple breakdown of your out of the out of…