Category Archives: Mortgage News

Agencies Retire COVID-19 Requirements for Self-Employed Borrowers

If you are a self-employed borrower, you should be rejoicing about the recent announcements from government-sponsored entities Fannie Mae and Freddie Mac. As of February 02, 2022, the two entities have made a tactful decision to retire a large chunk of COVID-19 temporary requirements, making it much easier for self-employed borrowers to qualify for a […]

Official 2022 Conforming Loan Limits

New and existing homeowners will soon have more flexibility when taking out a new home mortgage. That’s because the Federal Housing and Finance Agency (FHFA) has recently announced the new higher conforming loan limits for 2022. The conforming loan limits create a standard for loan amounts across the county of which aggregators Fannie Mae and […]

Using Positive Rental Payment History for Mortgage Eligibility

Being a first-time home buyer comes with its fair share of challenges. Not only do you have to figure out how to navigate the complexities of the home buying process, but you also must do so while competing against other buyers who are just as hungry to become homeowners. Roughly 31% of all home buyers […]

Put Your Miles to Work: How to Use Credit Card Rewards and Other Misc. Assets for Your Down Payment

Whether you pump gas at a gas station or purchase groceries at the grocery store, chances are you aren’t paying with cash. Most Americans have grown accustomed to swiping that little piece of plastic which makes shopping much more efficient and convenient. Over 191 million Americans have a credit card, with many cards earning some […]

New FHA Student Loan Guidelines

FHA mortgages continue to be a popular financing option among consumers due their increased down payment and credit flexibility. But with the cost of college becoming much more expensive, student loan debt is still a relevant barrier to homeownership for some consumers. According to the Wall Street Journal, around 44 million American owe a combined […]

The Removal of the Adverse Market Refinance Fee Means More Savings

The COVID-19 pandemic has resulted in an unprecedented global health crisis that has impacted millions of consumers. While the U.S. housing market has subsequently recovered over the preceding few months when the pandemic was declared, initially providers faced major headwinds. Consequently, a record number of borrowers took advantage of mortgage relief first offered in the […]

What Lenders Look at When Approving a New Mortgage

Many borrowers feed into the myth that your credit score is the only deciding factor when getting approved for a new mortgage. In reality, lenders look at a variety of factors before approving a new mortgage loan. While your credit score does certainly play a role in the approval process, lenders also look at things […]

Qualifying for a Mortgage: The Basics to Getting Approved

Many aspiring homeowners are making the leap from renting to owning a new home. One of the biggest first steps every homebuyer needs to make is applying and qualifying for a new mortgage. According to the National Association of Realtors, 87% of recent buyers financed their home purchase1. But one of the largest pitfalls borrowers […]

3 Ways to Take Advantage of the New Conforming Loan Limits for 2021

If you have ever applied for a mortgage, you may have heard your loan officer throw around the term “jumbo” or “conforming” when discussing what mortgage solutions might be best for you.  Do not worry, they weren’t talking about a “jumbo” hot dog, airplane, or a two-liter of coke. What your mortgage lender was referring […]