Can I use cryptocurrency like bitcoin for assets? The requirements for bitcoin, cryptocurrency, or coin based assets for home loans include: Must be converted to U.S. currency Must be deposited to a bank account Deposit to bank account must be…
Applying for Homestead Exemption Please remember to apply for your homestead exemption if you have not done so already! The homestead exemption is a wonderful benefit for homeowners. Consult with an accountant or tax professional for specific tax relief information….
Is it Time to Refinance? Refinancing could mean big savings depending on your financial situation. Refinancing a mortgage means paying off your existing home loan and replacing it with a new one. A cash-out refinance could give you access to…
Good news! FHA has recently made changes that may allow prospective buyers and borrowers with student loans more flexibility. FHA will now use .5% – previously it was 1% – of the outstanding loan balance to calculate debt. This may…
New 2021 USDA Income Limits Recently, USDA Rural Development increased the 2021 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…
Inflation Climbs, Consumer Spending Surges It was a quiet week for mortgage markets. The strong economic growth and inflation data released this week was mostly in line with expectations, and mortgage rates ended the week with little change. A large…
GMFS is pleased to re-introduce the Conventional Purchase Advantage Program with the Capital Area Finance Authority (CAFA). Borrowers can receive an assistance amount of 3% or 4% on FHA and Conventional Loans. The assistance may be used for down payment,…
Fast Facts About the Housing Market Gone in a flash! Homes are selling faster than ever. With record-low inventory and intense demand, homebuyers face fierce competition. A record 41% of homes sold above list price during a 4-week period ending…