Why the reputation of mortgage brokers is steadily on the rise
Mortgage pros on the steps needed to continue gaining traction Amid early signs that the US mortgage market is poised for a recovery in 2025, a key question looking ahead will be whether brokers can prise business away from the banking and retail spaces. Competition for deals is sure to be fierce, with a potential…
Read MoreThe FHA 203h Disaster Program
The Federal Housing Administration’s (FHA) 203h Disaster Program is a specialized loan program designed to help individuals rebuild or buy new homes following a major disaster. Administered by the U.S. Department of Housing and Urban Development (HUD), this program offers a lifeline to those whose homes have been destroyed or severely damaged due to natural…
Read MoreCredit Consultation
Understanding the Importance of a Credit Consultation Having good credit is essential for many of life’s significant financial decisions. From buying a home to securing a loan, a solid credit score can open many doors. But what if your credit score isn’t where it needs to be? This is where a credit consultation can be…
Read MoreRates must come down by ‘a lot’, says Fed official
Central bank is expected to continue cutting rates in the months ahead Federal Reserve Bank of Chicago President Austan Goolsbee reiterated interest rates need to come down over the next year by “a lot.” Goolsbee emphasized how the central bank’s narrow focus on inflation has expanded to the jobs market, adding he’d like to keep…
Read MoreFed Rate Cut: Will Prices Ever Go Back To ‘Normal’?
Inflation may have (nearly) returned to normal. But prices don’t feel normal. The Federal Reserve cut the federal funds rate by 50 basis points in September as inflation has moved closer to its 2% target. This was the first rate cut since the onset of the pandemic and might be a turning point in the Fed’s years-long battle to…
Read MoreFed seen cutting rates another 50 bps in November
On November 7, the Federal Open Market Committee is expected to again lower interest rates after an initial cut on September 18. Markets currently expect a 0.25% reduction in interest rates to 4.5% to 4.75%. However, a larger 0.5% reduction is possible depending on reported economic data over the coming weeks. Meeting Timing The FOMC…
Read MoreFreddie Mac recently made a change to their rules as it pertains to minimum self-employment.
I am not referring to the rule where you only need one year tax returns if you have been in business for five years. That still exists for both Fannie and Freddie. I am referring to the rule where you only need to be Self-Employed for one year and still get conventional financing. HERE ARE…
Read MoreWe have raised loan limits ahead of official FHFA update
Early access to higher conventional loan limits now available! We have moved ahead of the Federal Housing Finance Agency (FHFA) by increasing conventional loan limits before the FHFA’s official announcement expected in November. This enables homebuyers to access up to $802,650 for conventional loans, an increase from the current $766,550 limit. This offering allows borrowers…
Read MoreWill I qualify for an FHA Loan?
Understanding FHA Loans: A Comprehensive Guide Federal Housing Administration (FHA) loans are a popular choice for many first-time homebuyers due to their flexible lending requirements and lower down payment options. But what exactly is an FHA loan, and how does it differ from other types of mortgages? This comprehensive guide will help you understand the…
Read MoreNational Housing Affordability Improves Annually For First Time Since 2021
Real house prices decreased 3.4% on a month-over-month basis between July and August 2024. National affordability improved in August on an annual basis, marking the first positive year-over-year change since 2021. That’s according to First American’s latest Real House Price Index (RHPI) data for August, released today. Two factors drove the 4.4% annual increase in affordability — a…
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