New USDA Income Limits Recently, USDA Rural Development increased the 2020 Income Limits for the Single Family Guaranteed Loan Program. Higher limits mean more people will now fall within the income guidelines for USDA RD loans. New Income Limits for…
What can affect your rates? Here are 15 Factors That Impact Your Interest Rate for a Mortgage 1. Credit Score Your historical ability to repay a mortgage is very important. The higher your credit scores the lower your rate and…
What is a Paycheck Protection Program Loan? In the midst of the COVID-19 pandemic, we hope that you and your families are safe and healthy. We understand that many of us are experiencing financial difficulty due to loss of employment…
What is forbearance? Forbearance is only a postponement of the payments being due; where there is no negative impact to your credit as long as the proper process is followed. The guidelines are not dictated by GMFS; therefore we must…
How will the Federal Reserve impact mortgage rates? Homebuyers sometimes misunderstand how the Federal Reserve affects traditional mortgage rates. The Fed doesn’t actually set mortgage rates. Instead, it determines the federal funds rate, which generally impacts short-term and variable (adjustable)…
New Low Rate Offerings in 2020 Take advantage of low interest rates today to increase your buying power or reduce your loan term and save money! Request a consultation with our award-winning team today. https://gmfsmortgage.com/free-consultation/
Great news! FHA Loan Limit Increases for 2020 New 2020 Loan Limit for FHA one-unit property: $331,760 Read HUD Announcement Get pre-qualified with our award-winning team today!
GMFS is now accepting new applications with increased 2020 conventional loan limits! The Federal Housing Finance Agency (FHFA) announced Tuesday that conventional loan limits are increasing. The new 2020 base loan limit in most of the country will be $510,400 (a…