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This ARTICLE On HUD FHA 203k Renovation Guidelines On Home Improvement Loans Home values are appreciating nationwide. Both HUD and the FHFA increased FHA and Conforming Loan Limits the past three years due to rising home prices. FHA Loan Limits are now at $356,362. The Federal Housing Finance Agency (FHFA) increased the Conventional Loan Limit…
Most lenders have a debt to income ratio cap on government and conventional loans. Lenders need to meet the minimum debt to income ratio caps. However, lenders can have their own DTI caps which is lower than the agency guidelines as part of their DTI lender overlays
The housing market has skyrocketed where many homebuyers are priced out of buying a home. Many homebuyers are leaving their state to other states with affordable housing to realize their dream of homeownership become a reality.
Borrowers should avoid these things during the mortgage process so their home loan closes on time. Certain things that may be innocent and unintentional could delay the clear to close. Delays in the clear to close by the mortgage underwriter will delay the closing of the home loan.
This Article Is About The Most Affordable States To Purchase Homes In 2021 Home prices have been skyrocketing since 2013 with no sign of a housing correction. Adding fuel to the fire on the hot housing market is the historic low mortgage rates. Today’s 30-year fixed mortgage rate is at 3.25% for prime borrowers. The…
This Article Is About Using Second Home As A Rental And Vacation Home Using Second Home As A Rental and Vacation Home at the same time is becoming more popular among real estate investors. Using Second Home As A Rental, the investor gets to enjoy the benefits of having a vacation home and get rental…
This Article Is About What Do Underwriters Look On Credit Report Besides Credit Scores Credit scores is the biggest factor in determining mortgage rates. Credit scores also determines whether or not borrowers qualify for certain mortgage loan programs. However, just meeting the minimum credit score requirement is not a ticket to mortgage approval. Below Are…
This Article Is About Unsecured Credit Card Approval With Bad Credit And Bankruptcy Unsecured Credit Card Approval is possible for consumers with prior bad credit. Unsecured Credit Card Approval is even possible for consumers after a bankruptcy discharge Credit card companies want to grant unsecured credit to consumers However, they want to make sure consumers…
BREAKING NEWS: New Home Sales Surge In July Despite Coronavirus Outbreak New Home Sales Surge In July despite the coronavirus outbreak and high unemployment. Unemployment claims surpassed the $50 million mark Unemployment rates are still over 10% However, unemployment rates have been dropping month after month The Dow Jones Industrial Average hit an all-time record…
This article covers Lenders Increasing Credit Score Requirements Due To COVID-19 Most borrowers have noticed that Lenders Increasing Credit Score Requirements Due To COVID-19 Outbreak. Lenders across the board have raised their minimum credit score requirements on government and conventional loans due to the coronavirus pandemic The good news is that FHA, VA, USDA, Fannie…
This article covers Freddie Mac Housing Event Guidelines On Conventional Loans Fannie Mae and Freddie Mac are the two mortgage giants known as Government Sponsored Enterprises (GSE). Fannie Mae and Freddie Mac are under the control and regulation of the Federal Housing Finance Agency (FHFA) Conventional Loans are referred to as Conforming Loans This is…
BREAKING NEWS: Housing Market Booming Despite Record High Unemployment Housing Market Booming despite record-high unemployment and the coronavirus outbreak. Never in history has the housing market been so hot despite economic uncertainty and a presidential election in just a few months. Over 50 million Americans have filed for unemployment due to the coronavirus outbreak. With…
This BLOG On What Are The Foreclosure Procedures And Process Was UPDATED And PUBLISHED On July 2nd, 2020 The government’s position with lending, traditionally, is they are set to ensure there is a warehouse for lending on the secondary, and that there are programs available for low to moderate-income families, as well as low to…
This BLOG On New Changes In Home Buying Process And How It Affects Mortgages Was PUBLISHED On June 17th, 2020 The Consumer Financial Protection Bureau, also known by many as the CFPB, has implemented new changes in the home buying process which took effect on October 3, 2015. The new changes in home buying process…
BREAKING NEWS: Economy Add 2.5 Million Jobs In May Surging Consumer Confidence The breaking news this morning on the U.S. Economy Add 2.5 Million Jobs surprised economists. The coronavirus pandemic has devastated the U.S. economy Prior to the pandemic, the U.S. economy was booming Unemployment rates were under 3.5% The Dow Jones Industrial Average hit…
BREAKING NEWS: Economic Coronavirus Impact On Americans And Businesses The Economic Coronavirus Impact On Americans is beyond devastating. Prior to the coronavirus pandemic, the U.S. economy was booming Unemployment rates hit an all-time record low at under 3.5% The Dow Jones Industrial Average surpassed the 29,000 mark this February 2020 HUD and the Federal Housing…
This ARTICLE On Qualifying For FHA Loans During Coronavirus Pandemic Was PUBLISHED On April 4th, 2020 The coronavirus pandemic has not just halted the US economy but has turned the mortgage industry upside down. FHA, VA, USDA, Fannie Mae, Freddie Mac has not changed any agency mortgage guidelines However, most lenders are facing major liquidity…
BREAKING NEWS: Home Buying Process During The Coronavirus Pandemic Crisis As Americans received some puzzling news from the White House coronavirus task force briefing yesterday on March 31, 2020, we all must prepare for things to get worse before they get better. By the graphs and model charts presented, we are in for a dark…
BREAKING NEWS: Trump Economic Stimulus Sends Stock Markets Higher But Mortgage Markets Are In Chaos The Dow Jones and other equity markets closed higher today after the Trump Economic Stimulus News. The financial markets spiked today after yesterday’s Dow 1,300 plunge The equity markets have lost all of the gains made since President Trump’s inauguration…
BREAKING NEWS: Coronavirus Impact On Housing Market As Dow Plunges 1,300 The Coronavirus Impact On Housing Market is a major concern for Americans. The stock markets are almost down 30% since its all-time high on February 12th, 2020 The Dow and other equity indexes are trading in bear market territory The 2020 housing market forecast…
This BREAKING NEWS ARTICLE On The Coronavirus Pandemic In Illinois May Trigger Financial Meltdown Was PUBLISHED On March 15th, 2020 Illinoisans get more bad news due to the Coronavirus Pandemic In Illinois. Illinois Governor J.B. Pritzker will issue and declare a state of emergency to shut down all restaurants and bars effective Monday, March 16th…
BREAKING NEWS: Coronavirus Stimulus Announcement Package By Trump Surges Stocks 1,985 Points: President Donald Trump declared a national emergency yesterday due to the coronavirus pandemic The Coronavirus Stimulus Announcement Package By Trump Surges Stocks 1,985 Points President Trump announced multiple Coronavirus Stimulus Packages on Friday As the President was talking, the Dow Jones and other…
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