Category Archives: Mortgage News

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 Conforming Loan Limits 2022

  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) is set to announce it will be increasing the conforming loan limits for 2022. The conforming loan limits create a standard for loan amounts across the county of which […]

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 […]

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 […]