A Jumbo Home Loan is classified as any loan amount that exceeds the county high balance loan limit under which the transaction will occur. Jumbo loans will represent the most stringent loan product type qualification. Banks that make Jumbo...
The mortgage market is certainly complex at times as there are so many functions required to approve a loan. The mortgage company must order services and reports from these entities just to get to the loan approval stage. Once a...
Avoiding FHA mortgage insurance can be tough, but it’s not impossible. When you apply for your first mortgage loan, you might be surprised to see all the additional fees and expenses. Suddenly the number you expected, the one you...
If you’re considering ways to save on long term interest and paying down your mortgage balance sooner rather than later, refinancing to a shorter loan term is probably the most common way to do so. Most mortgage loans issued...
Between 2007 and 2014 millions of home owners proactively reach out to the company that was servicing their home loan in an attempt to modify the terms of their current home loans. In many situations, banks proactively reached out...
Coming up with funds to close on a home purchase is perhaps the single greatest barrier first time home buyers face. At least there are still too many who believe that. Yet despite the easy access to information and...
We all need a little help sometimes. When it comes to mortgage qualification, this help can often come in the form of a financial gift. Giving gifts money from a donor's business is fairly typical, but sometimes a person wants...
There comes a time when it’s time to move. Whether you’re staying in the same neighborhood or you’re moving several zip codes away, what to do with your home is an important consideration. Many simply don’t give it much...
The residential mortgage industry has seemingly endless amounts of jargon and abbreviations. Here is what to expect from a home loan on a non-warrantable condo. When it comes to the purchase or refinance of a condominium, the most important terminology...
Conventional Loans Conventional loans, those that are underwritten primarily to guidelines set forth by Fannie Mae and Freddie Mac have been around in some fashion since 1967, when Fannie Mae became its own government-sponsored corporate entity followed by Freddie Mac...