Conventional Loans are now bigger and better. The Federal Housing Finance Agency (FHFA) announced the new conforming loan limits for mortgages sold to Fannie Mae and Freddie Mac in 2020. In most of the U.S., the new 2020 maximum conforming loan limit for one-unit properties will be $510,400. This is an increase from $484,350 in… Read more »
Getting a divorce is never a fun experience. Moving on after a breakup does not have to be hard when refinancing a mortgage after a divorce. Unfortunately 50% of marriages end in divorce and 60% of these couples are homeowners. This means that you are not along when it comes to refinancing after a divorce.… Read more »
You may have heard that the Federal Reserve has been cutting rates to slow economic slowdown. Industry experts predict that they may cut the Fed rates again this week. It would be a surprise to the economy if they did not follow through with another cut. With this said, it is important to know that… Read more »
There is a lot of confusion when it comes to mortgage rates. You may see rates on the news, TV commercials, internet ads and promotions at your bank but what really are the today’s mortgage rates? The answer to this question is not straight forward to understand. When it comes to mortgage rates, there is… Read more »
How Long Do I Plan to Live in the House? Before you decide to buy a home you should review your goals and timelines. It is important to know how long you plan to live in your home. Each timeline will have different goals for financing so plan this up front to save the most… Read more »
March 2019 was the best month for Michigan Mortgage Rates in a Decade! Refinance your mortgage and Lock in a Low Rate!
Conventional Loans are home loans that conform to the underwriting guidelines set by the Government Sponsored Entities, Fannie Mae and Freddie Mac. In the past, conventional loans were only for elite borrowers that had 20% or more for their down payment. Times have since changed opening up great new programs for low to middle income… Read more »
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