Mortgage rates have been fluctuating between 6.5% and 7.5% so far in 2024. The Federal Reserve may cut interest rates this year, potentially lowering mortgage rates to 6% by 2025.

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…

Spring offers prime conditions for using home equity for second home purchases. Home equity levels are currently high, averaging around $200,000 per owner.

To prepare your home for sale, consider staging it by cleaning thoroughly, making necessary repairs, depersonalizing, focusing on key rooms, and creating a good first impression. This will help attract potential buyers and increase the chances of selling your home quickly. Continue to full article

Florida homeowners face an avg monthly mortgage payment of $2,443. This translates to ~$29,321 paid annually towards the mortgage.

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…

Ensure utilities are on freeze post-purchase to manage energy use during moving. Replace old light bulbs and appliances with energy-efficient ones for long-term savings.

Location & Neighborhood – Proximity to amenities – Safety and community activities – Future development plans – Long-term lifestyle fit – Property value prospects Budget and Financing – Hidden costs, property taxes, insurance – Get quotes from movers – Understand mortgage options – Align financing with situation

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…