Author: Peter Pescatore (Peter Pescatore)

2019 FHA Loan Limits Will Be Raised
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2019 FHA Loan Limits Will Be Raised

The United States will see an increase in 2019 loan limits set by the Federal Housing Administration. Wealthier locations of the United States will have their loan limit raised to $726,525. This limit was previously set at $679,650. The floor will also be increased from $294,515 up to $314,827. Starting January 1st, 2019, these new...

VA Loan Benefits
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VA Loan Benefits

A VA loan is a special loan that is available to all Unites States Military Veterans. These loans are back by the Department of Veteran Affairs and have a variety of benefits. Benefits One of the most noticeable benefits of a VA loan is that there is no down payment required. Other loans such as...

Refinancing Your Current Mortgage
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Refinancing Your Current Mortgage

What is Refinancing? Refinancing is the process of paying off your original mortgage and replacing it with a new one. Your financial situation now may be different from what it was when your first mortgage was originated. Because you’ve already obtained a prior mortgage, refinancing tends to be a much smoother process with far less...

Home Buying Help: What is Escrow?
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Home Buying Help: What is Escrow?

Buying a home is often the biggest purchase you make in your life. With all that money on the line, buyers and sellers AND lenders need a safe and secure way to make the transaction. In order to make sure the home sale and mortgage funds transfer take place properly, your lender will open an...

How Much House Can I Afford?
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How Much House Can I Afford?

When you are ready to buy a home, whether for the first time or the tenth, it is always important to know how much you can afford to spend. This will help you narrow your home search and ensure you do not get in over your head financially. There are several factors to consider when...

The Top 4 Reasons You Should Get a VA Loan
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The Top 4 Reasons You Should Get a VA Loan

If you are a military veteran or are currently serving active-duty, there is an incredible mortgage loan available to you through the Department of Veterans Affairs – the VA loan. VA mortgages are made through regular lenders but backed by the Department of Veteran Affairs, reducing the risk to the lenders themselves. Here are the...

What is the Difference Between Pre-approval and Pre-qualification?
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What is the Difference Between Pre-approval and Pre-qualification?

When it comes to mortgages, there are two similar sounding terms that often confuse potential homebuyers: pre-qualification and pre-approval. While they are alike in some ways, their purposes are different. If you are looking to get a mortgage, here’s what you need to know about pre-qualification and pre-approval. Pre-qualification A home loan pre-qualification is an informal estimate...