Category: Mortgage

2019 Housing Market Expectations
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2019 Housing Market Expectations

Here’s what to expect from the housing market in 2019: Rate Hikes Continue Quick Look: Housing Trends November Brought an Increase in Existing-Home Sales Housing Starts increased 3.2% in November 2018. Mortgage Delinquency Rate Fell to lowest level in 18 years in August 2018. Sources: Realtor.com® 2019 National Housing Forecast. National Association of Home Builders®. National...

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...

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...

What Are Closing Costs?
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What Are Closing Costs?

When you sit down to sign the papers to buy a home, you will most likely be required to pay closing costs. Mortgage closing costs are the fees associated with the home buying and lending process. What is included in my closing costs? The types of closing cost fees can vary based on region, property...

Mortgage Rates Step Back
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Mortgage Rates Step Back

MCLEAN, Va., Aug. 16, 2018 (GLOBE NEWSWIRE) — Freddie Mac(OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that mortgage rates decreased slightly for the second consecutive week. Sam Khater, Freddie Mac’s chief economist, says mortgage rates remained mostly flat over the past week, which has been the dominant theme...

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...