Category Archives: Mortgage News

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 […]

What is Loan to Value Ration (LTV) and why is it important?

What is Loan to Value Ration (LTV) and why is it important? Intro 0:10 | LTV Defined 0:45 | LTV Purchase vs. Refinance 1:47 | Common LTV 1:02 | Calculating LTV 2:34 | Why LTV is Important 3:38 | Benefit of Low LTV 3:57 | Outro 4:27 Did you that a lot of people assume […]

Fannie Mae’s New Refinance Option ( REFINOW ) Now Helps Lower-Income Borrowers.

Fannie Maes new RefiNow™ option, which is available for qualifying homeowners with a Fannie Mae-owned mortgage began June 5, 2021, makes it easier for eligible homeowners earning at or below 80% area median income (AMI) to refinance at a lower interest rate and reduce their monthly mortgage payment. Are you below the 80% area median […]

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 […]

5 Reasons Why Refinancing is Taking So Long Right Now

The U.S. economy remains turbulent as Americans continue to endure implemented public safety measures. But a silver lining is that as a homeowner, you can still find cheap and affordable credit within mortgage markets amidst all the chaos. The average 30-year fixed-rate mortgage fell to 2.81% in mid-October, which is the 10th time in 2020 […]

Real Estate and Mortgage Market News and Updates

Last updated 11/06/20 Mortgage Rates Continue to Hit Record Lows If you thought mortgage rates couldn’t go any lower? Think again. For the 12th time this year the average 30-year fixed rate mortgage hit a new record low at 2.78%. Mortgage rates have consistently been below 3% for several weeks now. [1] As a result, […]

Enhanced COVID-19 Eligibility Requirements for Self-Employed Borrowers

Enhanced COVID-19 Eligibility Requirements for Self-Employed Borrowers Business owners are said to be the backbone of the U.S. economy. But when it comes to mortgage financing, sometimes they get the short end of the stick. It’s not uncommon for self-employed borrowers to jump through additional hoops in order to prove their business is solvent and […]

The Pandemic Conundrum: Buy Now or Wait and See

The Pandemic Conundrum: Buy Now or Wait and See Consumers are familiar with the phrase “buy low, sell high”, which is commonly used in conjunction with investing, such as in the stock market or within other investment frameworks. Most investors also understand the power of buying an asset at a discount. Retailers have been using […]