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FHFA made it official- new conforming loan limit for 1-unit properties is $647,200. The new ceiling for High Cost is $970,800 (areas like Alaska, Hawaii, Guam & US Virgin Islands) FHA will calculate the low-cost mortgage limit at 65%t-  $420,680  while High-cost area mortgage limits are set at 150%- $631,020. *usually announced in December & in effect for case numbers assigned…

Have you decided that you are ready to become a homeowner, and curious about what steps to take first in order to make that happen? Shopping for your new home is an exciting milestone, but can be challenging if you aren’t exactly sure what kind of home you will be able to afford. Getting loan…

Nov. 16, 2021 at 2:41 p.m. ET By Alisa Wolfson What to know if you’re thinking about buying a home soon. On the one hand, mortgage rates are near historic lows and many experts predict they will rise in the coming year. But on the other, housing prices are on the rise, and in plenty of areas…

Are you interested in purchasing a home that has a higher than average price tag? Housing prices have increased throughout certain areas of the United States, and if you have your eye on a more expensive home, you may need to apply for a jumbo loan, which is a mortgage designed to finance homes that…

Buying your first home is an exciting life event, however, the process can be stressful due to the many financial requirements that come along with it. Selecting a suitable financing option for your situation takes a lot of time and research. Luckily, there are a variety of programs that are available to first time homebuyers,…

There are several steps involved when you buy a home, and before you finalize the transaction, one step you will need to take is having your potential home evaluated by a professional home inspector. During this process, a home inspector will come into the home you are looking to purchase and attempt to identify any…

Are you currently in the market for a home, and in the process of deciding on the best financing option to fit your current situation? Conventional loans can be an excellent home financing option because they offer flexible terms and competitive rates. If you are searching for a home in Jacksonville, Florida, the skilled team…

Are you a current homeowner interested in refinancing your home, and trying to determine the best refinancing option for your situation? You may want to consider a cash-out refinance, which basically replaces the mortgage you currently have with a new loan that is for a higher amount than you owe on your house, and you…

When you purchase a home, there are many different costs associated with the process, and sometimes it can be confusing when trying to understand the different payment requirements that go along with home financing. One such cost that you may be responsible for paying is private mortgage insurance, particularly if you are interested in obtaining…

If you are planning to purchase a home, the type of interest rate you choose will be an important factor when you are considering what type of mortgage to get, and will also ultimately determine the amount of money you will spend on your monthly payments. One common interest rate option is a fixed rate…