News and Updates in our home turf Grand Rapids, MI.
2023 Conventional Loan Limits jump as home values have continued to increase at a record breaking pace throughout 2022. Between the third quarters of 2021 and 2022, homes appreciated 12.21 percent on average (slightly slower than 18.05% between 2020 and 2021). The FHFA uses this metric to calculate the 2023 maximum conventional loan limits. The… Read more »
Many homeowners are using their home’s equity to secure a home equity line of credit. A HELOC is typically a second mortgage with interest only payments and low rates compared to credit cards or unsecured debts. Don’t miss out on these top 10 uses for HELOCs. 1. A HELOC can help you consolidate your debt… Read more »
If you listen to the news, you will get fed consistent updates about how mortgage rates are jumping and how housing markets may be in a bubble. It is no wonder why the average home buyer may second guess their timing to buy a home in 2022. It is true that mortgage rates have shot… Read more »
Fannie Mae has announce that they will be raising rates on second home loan for all purchases after April 1st, 2022
With home values appreciating at a record breaking clip, the maximum conventional loan limit has also increased a substantial amount for 2022. The Federal House Finance Agency (FHFA) reviews home sales data on an annual basis and adjusts the max conforming loan limit to the rate of appreciation using the FHFA House Price Index (FHFA… Read more »
New Michigan RefiNow Mortgage introduced to save low-income borrowers thousands by refinancing to lower rates. Lower Costs. Appraisal Waivers Possible.
DACA mortgages in Michigan are here! On January 20th, 2021 the US Department of Housing and Urban Development (HUD) has announced that all immigrants under the Deferred Action for Childhood Arrivals (DACA) program will be eligible to apply for a Federal Housing Administration (FHA) backed mortgages. This new qualification for FHA loans is effective immediately.… Read more »
Today is an exciting day for independent mortgage brokers! Our #1 lending partner United Wholesale Mortgage (UWM) completed their IPO to go public on the New York Stock Exchange under ticker UWMC. UWM has been the #1 wholesale lender in the nation for 7 years running. They are the #2 overall lender but have major… Read more »
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