On January 5th, FHFA, the governing body which oversees most of the US mortgage market, announced substantial risk-based increases for second homes and high balance loans. The announcement positioned the changes as an aim to strengthen government enterprises and make home-buying more attainable. Affordable home loan programs will not be subjected to the fee …
Change in fees for second homes and high balance loans Read More »
Fannie Mae, Freddie Mac to Back Home Loans of Nearly $1 Million The maximum size of home-mortgage loans eligible for government backing will jump to $970,800 next year in high-cost markets. What does it mean? Because home prices have increased about 18% over the last year while demand stays high and inventory is low, …
Introduction “Should I do a cash out refinance or a Home Equity Line of Credit (HELOC)?” This is one of the most common questions homeowners ask when they want to tap into their home’s equity. There are a number of reasons for each option like home improvements or life events. We want you to be …
Cash Out Refinance or HELOC, Which is Right for You? Read More »
Early mortgage pay off is like eating an extra slice of cake every day; it sounds delightful at first, but comes with unintended consequences. There’s a reason the food pyramid exists, right? Sometimes too much of a good thing turns bad. Sure, paying off your mortgage early means you’ll save money several years down the …
Why Not Paying Off Your Mortgage Could Be a Good Thing Read More »
Everyone gets to a point where they need a little help to get out of a bind. Sometimes, it’s all about getting a mortgage pay off; other times, it’s to tend to a small emergency. A common way to go about this often involves loan assistance. However, when life gets in the way, going about …
