LLPA Myth Busting: The Truth about New Fee Changes In January 2023, Fannie Mae and Freddie Mac (Federal Housing Financing Agencies) announced changes to Loan Level Pricing Adjustments (LLPA). Some of these changes include factoring in a borrower’s debt-to-income…
Is it Time to refinance? According to ATTOM Data Solutions, 48.5% of mortgaged residential properties in the U.S. were considered equity-rich with 50% in available equity at the end of Q3 2022. Pent up equity positions, even in these market…
Great news in 2023 – Mortgage Insurance will cost less on new FHA home loans Financing a home just became more affordable for hundreds of thousands of buyers! Beginning March 20, most FHA loans will carry lower mortgage insurance premiums….
DSCR (Debt Service Coverage Ratio) for Property Investors Property investors have many options and should feel good about their business purpose loan. The GMFS DSCR (Debt Service Coverage Ratio) products are designed to give these valuable borrowers a real choice…
Self-employed borrowers may benefit from a bank statement mortgage program. When home buyers can’t get a traditional mortgage, our bank statement program can help qualified borrowers. Instead of a W2, we use 1-to-2 years of bank statements to evaluate a…
FHFA Changes Help First-Time Homebuyers A recent rate adjustment from Fannie and Freddie is motivating first-time home buyers under the median average income to apply for homeownership. Highlights: Interest Rate Reduction UP to 97% LTV Low credit score acceptance Some…
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…
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…