GSE Low Down Payment Mortgage Program Adjusts Area Median Income

Area median incomes (AMIs) for Fannie Mae and Freddie Mac’s low down-payment mortgage programs have changed recently, and that’s a good thing, according to United Wholesale Mortgage President and CEO Mat Ishbia. Fannie’s HomeReady and Freddie’s Home Possible offer low down payment mortgages for low- to moderate-income borrowers. AMIs establish income eligibility standards for those […]

Finally…Some Good News!

The country’s largest source of mortgage money, Fannie Mae, now plans to ease its debt-to-income (DTI) requirements, possibly opening the door to home-purchase mortgages for a large number of new home-buyers. Fannie recently stated that they will be raising their DTI ceiling from the current 45% to 50% as of July 29! As usual, of […]

Your Monthly Rental Expense Can Buy You a Home!

 Recent surveys have shown that the number of owner occupied households grew faster than renter households in the first quarter of 2016 (850K owner vs 365K renter). New research also revealed that, because of rising rents (avg. median rental now $1416 nationally), many renters don’t realize that they could actually own their own home for the same […]

Consumer Beware, There’s a New Scam Afoot!

Consumers Beware:New Scam There’s a new scam out there that attempts to steal money for real estate closings. In one version, scammers hack the email accounts of real estate agents and consumers to discover closing dates of upcoming home sales. Then they send an email to the buyer posing as a real estate agent or […]

Mortgage Broker, Bank or Credit Union?

Why Should You Shop For A Mortgage Broker Rather Than Just Settle For Any Lender?? We’ll give you 3 good reasons that will save you time AND money… 1) A good mortgage broker has better and more varied loan programs, rates and closing costs than banks and credit unions, allowing you to look at more […]

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