Latest Articles
Mortgage Advice, Real Estate Market Updates, and Home Buying Tips
Take Advantage of 2024 Conforming Loan Limits
Published:
November 29, 2023
The Federal Housing Finance Agency (FHFA) recently unveiled notable changes to Conforming (Conventional) loan limits on November 28, 2023. These updates are particularly impactful for prospective homebuyers in various Massachusetts and Rhode Island counties, where loan limits have risen to $766,500 and an impressive $1,149,825 in high-cost areas. It's crucial to understand that these limits are exclusive to Conforming loans and undergo yearly adjustments by the FHFA to stay in sync with current market conditions.
Fannie Mae Reduces Down Payment Requirements for Multifamily Homes
Published:
November 13, 2023
Fannie Mae is introducing a significant policy change on November 18, 2023, allowing down payments as low as 5% for owner-occupied 2-4 unit (multifamily) homes. This change offers a fantastic opportunity for potential owner-landlords to enter the multifamily property market without the burden of an FHA "self-sufficiency test". The reduced down payment requirement and more flexible loan qualifications make owning a multifamily home and generating rental income more achievable.
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Understanding Your Home Loan Options: A Guide to Using a Mortgage Calculator
Published:
October 30, 2023
Mortgage calculators are “self help” tools that aid in making informed decisions about home loans. They provide insights into your estimated monthly payments, down payment options, interest rates, and total loan costs, which can help you tailor your loan to your financial situation. By experimenting with different scenarios, you can gain the confidence needed to confidently navigate the path to homeownership or make smart refinancing decisions.
Key Factors to Consider Before Buying a Flipped Home
Published:
October 23, 2023
If you're interested in purchasing a flipped home, it's important to conduct thorough research and take precautionary measures to ensure a successful transaction. By implementing these simple steps, you can increase the likelihood of a smooth purchase. Additionally, when seeking a mortgage, it's crucial to understand the unique requirements and limitations associated with different loan types and property flipping.
Tips For Selecting The Right Realtor
Published:
October 16, 2023
Navigating the competitive and ever-evolving real estate market can indeed be a tough challenge, especially when you're on the hunt for the perfect Realtor to guide you through the process. Fear not, we've compiled some useful tips to help you find the ideal real estate agent to suit your needs. With the right professional by your side, your real estate dreams can become a reality.
Understanding Mortgage DTI Ratios and 5 Tips to Improve it!
Published:
October 9, 2023
By proactively working on these 5 strategies to lower your DTI, you will enhance your financial outlook, optimize your monthly budget and position yourself to comfortably afford the home of your dreams.
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Onshore Mortgage
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