Category Archives: Mortgage News

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 […]

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

What is Loan to Value Ration (LTV) why is it important, and how to calculate LTV? Did you that a lot of people assume that when they apply for a mortgage, that the lender will only consider their current income, credit score and their credit history. Well that’s not 100% true and in this video […]

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, […]

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 […]

What is an Appraisal Waiver? – Appraisal Waivers Fully Explained – Everything You Need to Know!

What is an Appraisal Waiver? In this video I will fully explain everything you need to know about Appraisal Waivers, how they work and the benefits to the borrowers. Did you know that must loans today are receiving “Appraisal Waivers” during the underwriting process. So if you are purchasing a home or refinancing your current […]