Grab your party hats because FHA home loan customers have reason to celebrate today's announcement. HUD, through the FHA, will reduce its annual mortgage insurance premium (MIP), which is borrower paid in monthly installments, from 0.85% to 0.55% for most new borrowers. The change will go into … [Read more...]
2023 Baseline Conforming Loan Limit Will Increase to $726,200
This announcement has just been posted today 11-29-2022 on the FHFA website: "Washington, D.C. – The Federal Housing Finance Agency (FHFA) today announced the conforming loan limit values (CLLs) for mortgages to be acquired by Fannie Mae and Freddie Mac (the Enterprises) in 2023. In most … [Read more...]
Creditworthiness Re-Examined with New and Improved Credit Reporting Companies Fico 10T and VantageScore 4.0
The Federal Housing Finance Agency announced last month that new credit score analytics known as VantageScore 4.0 and Fico 10T have been approved for Fannie Mae and Freddie Mac loan products. The new credit report options will be implemented over time providing improved analysis of credit over the … [Read more...]
7% Mortgage Rates Are Here And Homebuyers Have Options
Homebuyers angling for a new home this fall can expect to encounter higher interest rates with daily fluctuations as mortgage rates trend up. October’s first week saw a dip in the rate but experts aren’t in agreement as to whether rates will climb, dip or level out as we move into the autumnal … [Read more...]
UPBEAT OUTLOOK FOR HOUSING MARKET IN COLORADO SPRINGS WITH NEW JOBS-STRONG WORK ETHIC and BEST CITY SPOTLIGHT
The promise of 250 new jobs coming to Colorado Springs bodes well for the housing market. Boasting a potential economic impact of 100 million dollars in Colorado Springs, the Aerospace corporation is developing its new Space Warfighting Center which is expected to be fully operational early next … [Read more...]
