Divorce and Housing

loan from federal housing administration

Federal Housing Administration Update: Loan Limits Increased for 2021

The Federal Housing Administration (FHA) has announced that, like Fannie Mae and Freddie Mac, are increasing their loan limits.  This increase is a substantial increase from the previous limit and, in many ways, it could have a more significant impact on housing.  FHA loans remain the best option for borrowers who do not qualify for …

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Maximum Conforming Loan Limits in 2020

Conforming Loan Limits Have Increased in 2020. What Does This Mean?

The Federal Housing Finance Agency (FHFA) just announced an increase in conforming loan limits at the end of 2020.  While some counties may vary, this means that Fannie Mae and Freddie Mac Conforming Loans will be available to $548,250 next year.  You can expect that FHA loans to also increase, but there is nothing definitive …

Conforming Loan Limits Have Increased in 2020. What Does This Mean? Read More »

girl on computer checking mortgage refinance fees

Three Important Considerations About The Delayed Mortgage Refinance Fees

The time is now if you want or need to refinance your mortgage.  In a partial reversal of their announcement last week, Fannie Mae and Freddie Mac have delayed the implementation of the 0.5% fee for refinances until December.  This is great news which I, for one, expected as it takes any negative political impact …

Three Important Considerations About The Delayed Mortgage Refinance Fees Read More »

man upset about mortgage market

How Will Adding A Fee to Refinances Affect the Mortgage Market and You?

The Federal Housing Finance Agency surprised the mortgage market yesterday with an announcement of a 0.5% adverse fee on all refinances.  Citing mortgage market conditions and increased risk from COVID-19, Fannie Mae and Freddie Mac, the entities governed by the FHFA, will be adding the 0.5% fee to all refinance loans after September 1st.  Based …

How Will Adding A Fee to Refinances Affect the Mortgage Market and You? Read More »

frustration over jumbo loans

Banks Tighten Their Belts on Loan Approvals. What Does This Mean For Jumbo Loans?

Wells Fargo just announced an increase in the required banking and/or investment relationship for jumbo loans from $250,000 to $1,000,000.  Additionally, they increased the restrictiveness of some of the loan approval guidelines.  Back in April, Chase made similar moves to their lending rules and requirements.  This trend is not limited to the big banks and …

Banks Tighten Their Belts on Loan Approvals. What Does This Mean For Jumbo Loans? Read More »

home prices dropping

Home Prices Are Dropping. What Should You Do?

May’s Home Price Index and Home Price Forecast is not great, but could be worse. CoreLogic is a company that provides information to help clients make smart and educated decisions. In a CoreLogic report, home prices are expected to decrease by 6.6% by May of 2021.  In their press release, CoreLogic said, “The anticipated impacts …

Home Prices Are Dropping. What Should You Do? Read More »

Fannie Mae and Freddie Mac Loan

Fannie Mae and Freddie Mac Opens New Opportunities for Homeowners

There is good news on the lending front.  The Federal Housing Finance Agency (FHFA), the government agency that oversees Fannie Mae and Freddie Mac, has announced that the “waiting period” for a Fannie Mae and Freddie Mac post-forbearance loan is dropping from 12 months to 3 months.  This is huge for anyone who entered into …

Fannie Mae and Freddie Mac Opens New Opportunities for Homeowners Read More »

federal reserve mortgage rates

The Big Myth of The Federal Reserve and Mortgage Rates

So it is Federal Reserve Meeting time, and with it has come the inevitable questions about mortgage rates.  My phone and inbox fill up with clients asking how the Federal Reserve’s decisions will impact their mortgage rate and prospective clients reaching out to see if that refinance now makes sense.  As a business person, it …

The Big Myth of The Federal Reserve and Mortgage Rates Read More »

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