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Making a Big Purchase Can Have a Big Advantage

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Designed with your borrowers in need of higher financing amounts, our JUMBO loan series is a solution fit for someone with a strong financial profile. On top of borrowing more than traditional loan amounts, you could have access to jumbo loan financing with a lower down payment – without mortgage insurance requirements. Large Loan Amounts…

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Upfront Fees On Second Home Loan Rising

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The Federal Housing Finance Agency (FHFA) took steps today to meet one of the goals set forward in its 2022 Scorecard for the GSEs Fannie Mae and Freddie Mac, announcing targeted increases to the upfront fees for certain GSE high balance and second home loans. High balance loans (called super conforming loans by Freddie Mac)…

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Rates Remaining Below 4 Percent?

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Freddie Mac’s first quarterly forecast for 2022 cites the need for improvement in the nation’s employment picture. Even though the December report from the Bureau of Labor Statistics showed the unemployment rate down 0.3 percentage points from the prior month at 3.9 percent, Freddie Mac’s economists say that job openings remain high at 10.6 million…

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FORBEARANCE TRICKS YOU MAY NOT KNOW

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What happens when a borrower is or was in forbearance on an existing home but they want to KEEP THE HOME and purchase a new home. On conventional they have to make 3 payments once forbearance is complete. But on FHA if a borrower owns a home and completes the forbearance program which means either…

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Higher rates coming for high-balance and second home loans

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Higher mortgage costs on the way for some The Federal Housing Finance Agency announced it will increase fees on certain home loans starting Apr. 1, 2022. These new upfront fees will affect high-balance and second home mortgages sold to Fannie Mae and Freddie Mac. And, as is the case with most fee hikes, the cost…

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9 ways to help buyers compete in an all-cash world

Nathan Young

Trying to compete in the market over the past two years has been a tough road for buyers getting a mortgage loan. Some buyers would have preferred to take out a mortgage and conserve their cash, but given market conditions, they felt pressured to make an all-cash offer to have a strong chance of winning. Not every…

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Increasing Loan Limits in 2022

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Have you decided that you are ready to buy your own home this year, and are trying to determine how you will finance your purchase? You have probably done research about conforming and non-conforming loans and heard that there are certain loan amount limits for each type of loan, and you may be wondering how…

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IRS Transcript Expectations This Year

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Looks like Americans will be able to start filing January 24th which is great for your SE borrowers you need to get a tax return rolling on and likely deadline of April 18th unless they extend again. Expect a rather large backlog and likely extended turn times. The IRS stated that the BEST and IDEAL…

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When to Use Arms vs. Fixed Rate

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WHEN TO USE ARMS VS. FIXED RATE With rates going in the tank ARM’s will become a topic of discussion with certain borrowers who have expectations of lower rates. But, if you are going to use an ARM product then you need to know when to use them. You see ARM’s are traded and sold…

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