Throughout the mortgage loan process, submitting documents to verify income, employment, and credit history is inevitable. Mortgage lenders need this information to calculate an appropriate rate and general loan amount…
Purchasing a home is generally a long and stressful exercise that involves many steps and procedural formalities. Closing occurs when the borrower signs the papers that make the house theirs,…
Despite purchase prices rising, the Mortgage Bankers Association (MBA) says there has been a steady increase in purchase applications in a recent month-to-month study. Based on the applications, single-family home…
Access to mortgage credit availability is tight. This has been the case since the Great Recession and has only incrementally loosened since. The Mortgage Credit Availability Index (MCAI) increased by…
Forbearance is when your mortgage servicer or lender allows you to temporarily pay your mortgage at a lower payment or pause paying your mortgage. The borrower will pay the payment…
Despite the recent housing shortage and pricing surge, home sales surprisingly increased by 2% in September. According to The National Association of Realtors, sales of pre-owned single family houses, townhouses,…
What Is A No-Cost Refinance? A no closing cost refinance is an option available to borrowers which allows them to avoid paying all non-recurring closing costs. In this instance, the…
The high balance conforming loan limits have been announced per county, and the increases are substantial. The higher loan limits are now live for high-cost counties in the states of…
It can be difficult to find the right loan program. Between rates, private mortgage insurance, and shopping for a home, there is a lot that goes into finding the perfect…
It’s no surprise that real estate prices have been soaring this past year. The allure of homebuying was beckoned by declining rates and the shift in housing patterns COVID-19 brought….
