Categorized: Mortgage Basics

Each year, the Federal Housing Finance Agency (FHFA) sets new baseline loan limits for various types of home loans to reflect the average home price in the U.S. Conventional loans, also known as conforming loans, are guaranteed by Fannie Mae and Freddie Mac and make up most of the loans in the U.S. As you…

Continue Reading

A Positive Outlook Embracing Opportunity As we enter the year 2024, homeowners and potential buyers are optimistic about the mortgage market. In this blog post, we will explore the possibility of declining mortgage interest rates and their potential impact on home prices. With more buyers entering the market, it is important to consider the consequences…

Continue Reading

When considering purchasing a home, it is important to understand how to calculate your monthly mortgage payment to plan your budget for future expenses. We are going to cover the basics you’ll need to calculate an estimated monthly payment. With this information, you can get an idea of what purchase price you are comfortable with,…

Continue Reading

With so many mortgage lending companies out there, you might be wondering how to find one that has your best interests in mind. It can be more difficult when predatory lenders use deceptive tactics and tricks to trap people into less-than-ideal financial situations. Look out for these five common signs and tactics predatory lenders use…

Continue Reading

There are several components to a mortgage that allow for mortgage interest tax deductions to qualify. Some people can qualify for all of them, while others only use one or two. Either way, they save you money on your total tax liability. Is my Mortgage a Tax Deduction? Yes, owning a home also comes with…

Continue Reading

Mortgage rates are a critical factor in the home buying process, and their fluctuating nature requires a comprehensive understanding. The truth is, mortgage rates are subject to change, often varying from one day to the next. For prospective homeowners, being well-informed is crucial in navigating how mortgage rates impact the home buying journey. The Annual…

Continue Reading

What is APR (Annual Percentage Rate)? When it comes to borrowing money, it is crucial to have a clear understanding of the Annual Percentage Rate (APR). APR is a standardized measure that reflects the total cost of borrowing over a year, including both the interest rate and any additional fees or charges associated with the loan.…

Continue Reading