Back in 2009, as the mortgage crisis was slowly ending, many homeowners found themselves in a terrible position; their home was worth much less than their current mortgage balance. To persuade people to stay in their homes and avoid a wave of foreclosures across the country, Fannie Mae and Freddie Mac introduced the HARP plan. […]
The overall strong real estate market has seen major booms in the last few years. The increase in average prices have led to a change in the Fannie Mae and Freddie Mac conventional loan limits, yet again. For the year 2024, the maximum loan limit amount allowed by either Freddie Mac or Fannie Mae for […]
Over the past few years, the basic guidelines for lending money on investment properties have changed greatly. At one time, during the late 1990s and into the early 2000s, multiple mortgage lenders offered various loans designed specifically for buying a rental property. However, with the real estate crash, all of that has changed. Listed below […]
Interest only loans may be the solution for you if you are looking for a way to afford more home for less money. The Advantage of An Interest-Only Mortgage: An Interest-Only mortgage is an excellent mortgage option for borrowers who want the lowest payment possible. An Interest-Only loan means exactly what it says, the borrower […]
Here are some major questions any potential home buyer should ask their mortgage lender before signing up for a loan.
USDA Rural Development Mortgage When you are choosing which loan program is right for you, you might not consider the USDA. As this program is designed for homes in rural areas, you might not think it is suitable for your situation. However, the majority of Michigan should be covered and this type of loan offers […]
Understanding the consequences of FSBO failure sheds light on the potential risks of navigating the real estate market without professional assistance.
Getting a pre-qualification for a mortgage is a good idea if you are just looking and thinking about buying a home. Getting pre-approved for a loan is almost mandatory when you are serious about purchasing your home.
Mortgage Trigger Leads There is a lesser known trend among credit bureaus and desperate mortgage lenders. Once a person has applied for a mortgage the credit bureau has a legal right to sell the name, phone number and address of the applicant to other lenders. This is called a “trigger lead” in the mortgage industry […]
