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Category: Loan

Navigating Homebuying 101: Understanding 2024 Conforming Loan Limits and Why They Matter

Navigating Homebuying 101: Understanding 2024 Conforming Loan Limits and Why They Matter

A lot of new terms get thrown at you on the purchasing journey, and one of them is conforming loan limits. Let’s dig into what that means and how it affects your ability to buy the home you want. What is a conforming loan? Fannie Mae and Freddie Mac are government-created enterprises that buy mortgages … Continue reading Navigating Homebuying 101: Understanding 2024 Conforming Loan Limits and Why They Matter

Trying to Qualify for a Mortgage? Here’s Why Assets Matter in Home Loan Approval

Trying to Qualify for a Mortgage? Here’s Why Assets Matter in Home Loan Approval

Getting approved for a mortgage is a key element of your homebuying journey. It dictates whether you can buy a home and how much of one you can afford. When you apply for a mortgage, you’ll need to share your entire financial picture with your loan officer. This includes your credit score, income and assets. … Continue reading Trying to Qualify for a Mortgage? Here’s Why Assets Matter in Home Loan Approval

Considering a New Construction Loan? Here’s What You Need to Know

Considering a New Construction Loan? Here’s What You Need to Know

Of the many decisions home buyers face, choosing whether to buy or build, is by far the biggest one. Building a new home is appealing for several reasons. You can, within reason, get exactly what you want. Big kitchen? Check. Roomy closet? Check. Luxury bathroom? Check! The limits to seeing your dream home come to … Continue reading Considering a New Construction Loan? Here’s What You Need to Know

Is Taking Out a Loan to Buy a Traditional Rental or Airbnb Property a Good Idea?

Is Taking Out a Loan to Buy a Traditional Rental or Airbnb Property a Good Idea?

Everywhere you look, the news is reporting on everyday people making thousands of dollars renting out space on Airbnb. Is it a smart financial move for you to get a loan and buy an investment property for traditional long-term rentals or short-term Airbnb hosting? Read on to help you decide. Rental property mortgage loans differ … Continue reading Is Taking Out a Loan to Buy a Traditional Rental or Airbnb Property a Good Idea?

VA Non-Allowable Fees: What Are They and How Are They Determined?

VA Non-Allowable Fees: What Are They and How Are They Determined?

If you qualify for a Veteran’s Administration (VA) loan, it may be the best option for financing your new home. One of the many good things about VA loans is that they have requirements that protect the borrower from paying too many fees. They call these fees “non-allowable fees” and avoiding them can save borrowers … Continue reading VA Non-Allowable Fees: What Are They and How Are They Determined?

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