Yesterday brought some good news from the Mortgage Bankers Association, (MBA) to those people utilizing the Covid-19 mortgage forbearance option during this difficult time. FHFA Director Mark Calabria, speaking Tuesday, May 19th, 2020 at a Mortgage Bankers Association event called, "MBA Live: … [Read more...]
Conforming Loan Limits JUMP UP AGAIN in 2020
Conforming Loan Limits will JUMP UP AGAIN in 2020. The Federal Housing Finance Agency announced Tuesday that it is raising the conforming loan limits for Fannie Mae and Freddie Mac to more than $510,000. In most of the U.S., the 2020 maximum conforming loan limit will be raised to $510,400, up … [Read more...]
Avoid Painful Pitfalls That Can Delay or Prevent Your Mortgage Approval
The purchase of a home typically requires the largest monetary loan that most people will request in their lifetime. According to the National Association of Realtors, the median selling price of homes throughout North America was $252,800 as of May 2017, the highest on record. Colorado ranked … [Read more...]
Changes in Credit Scoring Bound to Benefit Home Buyers
Beginning July 1, 2017 people with medical debt over 60 days late or showing traffic tickets and fines associated with public record on their credit reports, will be viewed in a kinder light by credit reporting companies (CRC) foretelling improved opportunities to secure a mortgage for a new home, … [Read more...]
Refinance your FHA mortgage
The time is right to refinance your FHA mortgage Take advantage of the recent 0.5% reduction in the monthly mortgage insurance premium. You can also refinance your mortgage on a streamline basis that requires NO appraisal. This type of refinance is also available for investment properties … [Read more...]
