The Rules for Jumbo Mortgages Are Changing: What It Means for You

Mortgages

The Rules for Jumbo Mortgages Are Changing: What It Means for You

The Rules for Jumbo Mortgages Are Changing: What It Means for You

Last month, the Federal Housing Finance Agency unveiled the new 2016 loan limits. These limits effectively determine which loans can be bought, backed and resold to secondary markets by the government-sponsored entities (GSEs) Fannie Mae and Freddie Mac. Thirty-nine high-cost counties raised their limits on conforming high balance loans, indicating the GSEs have a reinvigorated... Read More

When Should I Lock In My Mortgage Rate?

Mortgages

When Should I Lock In My Mortgage Rate?

When Should I Lock In My Mortgage Rate?

A mortgage rate lock could help you save some money on the total cost of your home. A lock is essentially an agreement that says a lender will charge a specific rate and price on the mortgage for a specified period of time while a borrower gets ready to close. Common lock agreements are for... Read More

Why You Should Consider Refinancing

Mortgages

Why You Should Consider Refinancing

Why You Should Consider Refinancing

If you’re serious about reducing the interest you owe on your mortgage, refinancing could be a good bet. It can reduce your monthly payments and help you pay off your home faster. Of course, it helps to know your options when it comes time to re-fi. Getting a Rate Reduction Most consumers elect to refinance... Read More

Can Student Loans Hurt Your Mortgage Approval?

Mortgages

Can Student Loans Hurt Your Mortgage Approval?

Can Student Loans Hurt Your Mortgage Approval?

If not handled properly, your student loan can hurt your chances of getting a mortgage. Here’s why. Your student loan servicer reports to the credit bureaus every 30 days, much like a credit card issuer or auto lender. But you may have a payment deal with your student loan servicer that isn’t reflected accurately on... Read More

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