PITI is an acronym for the four components of a mortgage payment: Principal, Interest, Taxes, and Insurance. When evaluating a homebuyer's maximum mortgage loan eligibility, lenders consider these … [Read more...]
Signs of a VA Home Loan Refinance Scam
Veteran homeowners are often the target of dishonorable mortgage companies trying to take advantage of those who served our country. According to a Consumer Financial Protection Bureau’s VA "Warning … [Read more...]
Upfront Cash Needed to Buy a Home
The upfront costs of buying a home, including a down payment, are a major barrier for many prospective homebuyers. So we want to address a common question, "How much money do I need to buy a … [Read more...]
2021 Housing Market Predictions
The housing market was one of the quickest sectors to rebound in 2020, with sales and prices hitting levels that have not been seen for a decade. As the economy continues to recover into the new year, … [Read more...]
FHA Raises 2021 Loan Limits Almost $25,000
As of the beginning of 2021, higher loan limits made it easier for homebuyers to get an FHA mortgage. The loan limits allowed by the FHA have a significant impact on the housing market and how home … [Read more...]
38% of Renters Can Afford to Buy a Home
According to the National Association of Realtors (NAR), the number of renters who can afford to buy a home has increased in 2020 to 38%. This increase is due in part to mortgage rates falling and … [Read more...]
New 0.5% Refinancing Fee by Fannie Mae and Freddie Mac
The FHFA implemented a surcharge on certain types of refinance loans on December 1st, 2020. This new 0.5% refinancing fee by Fannie Mae and Freddie Mac will amount to 0.5% of the principal loan … [Read more...]
Housing Market Expected to Remain Hot this Winter
Buyers, sellers, and Realtors tend to expect Winter to be a slow season for real estate. However, Winter in 2020-2021 is likely to be an exception. The housing market expects to be red-hot for the … [Read more...]
How to Get a VA Cash-Out Refinance Home Loan
Homeowners who are active-duty military or veterans may be eligible for a VA cash-out refinance home loan. These loans may allow borrowers to lower their mortgage interest rate while refinancing up to … [Read more...]
Adjustable-Rate Mortgage
Defining Adjustable-Rate Mortgages (ARMs) An adjustable-rate mortgage (ARM) refers to any mortgage loan where the interest rate changes over the loan's lifetime. This type of mortgage loan is also … [Read more...]
