New 2023 Conventional Loan Limit Increase
The Federal Housing Finance Agency (FHFA) announced that conventional loan limits are increasing. The new 2023 base loan limit in most of the country will be $715,000! Start using these NEW limits today!
2/1 Buydown
You may be able to lower your monthly housing payment with a 2/1 Buydown. When interest rates were at historic lows, a typical fixed rate mortgage loan was all most people needed. Now, rates have risen and borrowers may be…
Renovation Loans
HomeStyle Renovation Loans Struggling to get your home repaired because of a high insurance deductible? Take advantage of the untapped equity in your home! Make home renovations or updates Build a pool Up to 97% loan to value* GMFS Mortgage…
Expanded Products Help More Borrowers Qualify
It can be difficult for first-time home buyers to get a mortgage – especially if they have a thin credit history, are self-employed or contract workers. We’re here to help with loan programs including several Non-QM mortgage programs and products…
What Rising Interest Rates May Mean For You
Rate Watch In an effort to quell inflation, the Fed increased policy rates by 0.75% at their most recent meeting. This is the largest increase since 1994 and more than initially expected. Mortgage interest rates had already moved upward in…
Is now a good time to refinance?
Is it time? According to the Mortgage Bankers Association, 44.9% of American households have slightly greater than 50% in available equity in their homes at the end of Q1 2022. Pent up equity positions, even in these market conditions, can…
USDA Rural Development Income Limit Increase 2022
New 2022 USDA Income Limits Recently, USDA Rural Development increased the 2022 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…
Benefits of Mortgage Insurance
Mortgage Insurance Has Benefits Did you know mortgage insurance has benefits? Most of the time it is seen as an extra cost, but there may be real benefits that result from getting Mortgage Insurance. You may be able to buy…