Category Archives: Mortgage News

Rethinking ARMs in Today’s Rate Environment

Rising interest rates are just one of many contributing factors that have made homebuyers a bit pessimistic regarding the current housing market. Considering that 87% of all homebuyers are known to have used some sort of financing for their next home purchase, rising rates seem like a reasonable concern.1 But the fact remains that there […]

Ways to Leverage Rising Rates to Your Advantage

Nobody likes to hear that interest rates are on the rise. It’s hard to be a new homebuyer and not associate looming rate hikes as yet another hoop to jump through in the journey to becoming a homeowner. Recent data from the National Association of Home Builders (NAHB) found that 87.5 million households can no […]

Industry Preparing for Implementation of Desktop Appraisals Come March 2022

If you are looking to buy a new house or refinance an existing mortgage, chances are your lender will probably require an appraisal inspection before they will approve you for a new mortgage loan. Lender’s use appraisal reports to get feedback on the property’s fair market value and condition. While appraisal reports have been widely […]

Home Prices Are on the Move. Why You Should Be Too!

Despite the tumultuous journey, people are finally starting to get a glimpse of life post-COVID. Although we are not out of the woods yet, the housing industry keeps on trucking as if COVID was just an afterthought. According to new numbers, home values continued to climb at an accelerated clip through 2021. In fact, the […]

Everything to Know About Fannie Mae’s New HomeView Homebuyer Education

Knowledge is most certainly power, especially if you are looking to purchase a new home. There are so many factors to consider from what features you need in a property to which lender or mortgage program works best for you. A shocking discovery recently found that a quarter of borrowers aren’t even aware that there […]

Ditch the Paystubs with the all New Direct Deposit Income Verification

You may recall back to your very first job, opening your paycheck for the first time and even complaining about how much the government took out in taxes. While this may seem like a distant memory, the truth is that many borrowers still opt to collect a paper paycheck. But this is soon to be […]

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 […]