Is it better to use a mortgage broker?

Backed research says “yes” Consumers can save thousands of dollars by working with independent mortgage brokers instead of retail lenders, according to a new study. It found that consumers who work with independent mortgage brokers save an average of $10,662 over the life of their loan compared to those who use nonbank retail lenders. The…

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…

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…

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…

Mortgage pre-approval is an important step for anyone looking to purchase a home. It not only gives you a clear picture of what you can afford but also strengthens your position as a serious buyer in the eyes of sellers. In this article, we’ll dive into what mortgage pre-approval is, why it’s important, and how…

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…

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…

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…

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…

State officials aim to provide relief for condo owners before the December 31 inspection deadline.Condo associations must submit Milestone Inspection reports to assess structural integrity and reserve funding needs.