The waiting periods vary depending on the type of event and the type of loan. I’ve created this handy chart to give you an idea of how long you will need to wait before you can qualify for a mortgage.
Buying a new home is finally getting easier for Millennials
When the housing recovery began 8 years ago, small new starter homes had virtually vanished. Construction costs had soared, land prices leaped, and labor costs shot up amid worker shortages, all making it more difficult for builders to make a
Fannie Mae and Freddie Mac – Conventional Conforming Loan Limits Increased for 2020
For the fourth year in a row, the Federal Housing Agency has announced an increase in the maximum conforming loan limits for mortgages eligible to be purchased by Fannie Mae and Freddie Mac. For 2020, the maximum conforming loan amount
Don’t Let Scammers Steal Your Down Payment
Phfishing schemes designed to fool you into wiring your closing funds to the wrong place have been getting increasingly prevalent over the past several years. Many borrowers around the country have fallen prey to these scams and lost their down
What The Fed Rate Cut Means To You
It can be exciting to hear that the Fed just cut rates, and leads people to think that mortgage rates just dropped as well. But it isn’t quite so simple. The Feds future moves are well anticipated and the market
How (and Why) To Freeze Your Credit
Equifax stunned the world in 2017 when it was revealed that a security breach let the personal data of 143 million people slip into the hands of cyberthieves. Account details and account information were also exposed and possibly stolen at
What’s The Right Loan Program For You?
The right loan program for you will be the one with the ideal combination of factors for you, your family and your financial situation. These factors include an affordable down payment, manageable monthly payment, low interest rate, low closing costs,
Conventional Loan Limits Increased For 2019
For the third year in a row, the Federal Housing Agency has announced an increase in the maximum conforming loan limits for mortgages eligible to be purchased by Fannie Mae and Freddie Mac. For 2019, the maximum conforming loan amount
Mortgage Rates Stabilize
Inflationary pressures in the economy have moderated as a result of lower oil prices (which lower transportation costs) and slowed wage growth. As a result, interest rates stabilized this past week. Here is a link to the current Freddie
Homebuyer’s Face a Friendlier Market
A year ago, with rates around 4% and with a limited supply of homes on the market, buyers often found themselves in bidding wars, paying more than they had intended for their new home. But the national housing market has