To cope with high rates, many homebuyers opted for discount points, paying extra upfront to lower interest rates. Purchasing points can lead to a lower monthly payment and overall savings over the loan's lifespan.

Mother's Day is a celebration honoring the mother of the family or individual, as well as motherhood, maternal bonds, and the influence of mothers in society. The origins of commemorating motherhood dates back to the Ancient Greeks, where in spring festival, they celebrated the goddess Rhea, considered the Mother of the Gods. Anna Jarvis’s lobbying…

Ensure a credit score >700 for optimal mortgage rates; review credit report for errors. mortgage-broker-meets-with-a-young-couple-4-of-6-FP24NJV Choose mortgage type, fixed or adjustable rates: Conventional FHA VA USDA Jumbo

Fannie Mae and Freddie Mac came to a conclusion when CALCULATING SE:F EMPLOYED INCOME WHEN NO DISTRIBUTIONS They only want to allow borrowers to use income that they actually received from their business versus what they claimed on their tax return. In order to do this they went to a rule that you can use…

This is a topic that each underwriter and lender likely may have varying opinions on but here is what Fannie Mae and Freddie Mac say about it. What happens when you have a purchase agreement on a home, then the home is inspected and completed and then you have an amendment AFTER the inspection date…

In reality Fannie Mae and Freddie Mac have not changed their credit score requirements as most people do not know the rules around credit scores with conventional loans which has changed over the past year. If you were to ask a majority of loan officers what is the minimum credit score for conventional loans the answer…

I continue to see more folks keeping their current home and purchasing a new home with the intention of selling their current home within a few months. Understanding the recasting process and eligibility is a great way to do just this. What is a mortgage recast? A mortgage recast, also known as loan recasting or…

Find out whether the central bank chose to cut rates The Federal Reserve has held interest rates steady once more following its latest meeting, continuing with a patient approach amid growing speculation that rate cuts are on the way. The central bank said on Wednesday afternoon that it was keeping its funds rate at its…