Tag: fannie mae

Buying a Home with Student Loan Debt

Posted on March 10, 2017 by - Buying a Home, FHA Mortgage, First Time Home Buyer, Local Michigan, Mortgage Tips, VA Loan

Buying a Home with Student Loan Debt In a few short months, thousands of college students across the country will walk across a stage, shake a hand, and graduate from a university with a degree and more than likely… a whole lot of debt. Student loans are often necessary to reach your educational goals, but… Read more »

How to Get Rid of Mortgage Insurance

Posted on December 20, 2016 by - First Time Home Buyer, Mortgage Tips, Refinance

How to Get Rid of Mortgage Insurance So you want to break up with your monthly mortgage insurance—we don’t blame you! When you purchased your home, there’s a good chance you didn’t have 20% to put down, right? Mortgage insurance is a great option, in that it allows buyers to increase their purchasing power, but… Read more »

Conforming Loan Limits Increased

Posted on December 8, 2016 by - Buying a Home, FHA Mortgage, First Time Home Buyer, Refinance

As home prices across the country continue to rise, the Federal Housing Finance Agency (FHFA) and the Federal Housing Administration (FHA) have announced increases in conforming loan limits for 2017. For the first time since 2006, the FHFA has increased the maximum loan limit for conventional loans through Fannie Mae and Freddie Mac from $417,000… Read more »

Refinance Your Home Without an Appraisal

Posted on November 4, 2016 by - Home Affordable Refinance Program, Local Michigan, Refinance

Refinance Your Home Without an Appraisal Soon, homeowners will be able to refinance their homes without an appraisal! Beginning December 10th 2016, Fannie Mae will offer an Enhanced Property Inspection Waiver (PIW) for ONE-IN-FOUR transactions. What is a Property Inspection Waiver? A Property Inspection Waiver is Fannie Mae’s offer to waive the requirement for an… Read more »

Fannie Mae HomeReady Mortgage Program

Posted on January 9, 2016 by - Buying a Home, First Time Home Buyer, Local Michigan

Partnering with one of the nation’s largest conventional mortgage lenders, Riverbank Finance is now offering Fannie Mae’s new 3% down home loan program called the HomeReady Mortgage, which allows borrowers to obtain a mortgage with substantially lower payments that standard conventional home loans. For a home purchase or even a mortgage refinance, this new home… Read more »

Updates for Fannie Mae Conventional 97% Mortgage Loans

Posted on December 9, 2014 by - Buying a Home, First Time Home Buyer, Mortgage Tips, Refinance

FANNIE MAE CONVENTIONAL 97% MORTGAGE LOANS A Conventional 97% mortgage loan is a Fannie Mae home loan that allows homeowners to purchase a home with only a 3% down payment. It is a great misconception that all conventional mortgage loans require a 20% down payment however many options for alternative financing do exist with low down payments… Read more »

Top 9 HARP Refinance Myths for Fannie Mae and Freddie Mac Home Loans

Posted on December 16, 2013 by - Home Affordable Refinance Program, Refinance

With over 2.9 million homeowners refinancing with the Home Affordable Refinance Program (HARP), there are still many people that are not taking advantage by refinancing their homes. There is a variety of reasons in which these homeowners are choosing not to drop their home loan rates with a mortgage refinance. Many of these reasons are… Read more »