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…
Great news! GMFS Mortgage is now offering FHA Loans down to 580 credit score & VA Loans down to 600 credit score. Our new FHA and VA loan program requirements may allow more borrowers to qualify for a home loan!…
Mortgage rates are on the rise, and the more they go up, the more your purchasing power goes down. Imagine you can afford to pay $1,600 on your monthly principal and interest payment. If mortgage rates rise just 1%, you’d…
How much is your home equity worth? Lower your monthly outgo while increasing your cash flow with increased home values! Cash-Out Refinance is when you use your home’s equity to refinance for more than the outstanding balance owed on your…
Great news for Self-Employed borrowers! Most temporary COVID Self-Employment guidelines have been removed for Conventional Loans. Less paper work is required if the borrower has filed personal and business returns for 2020. This may make it easier for self-employed borrowers…
While mortgage interest rates remain near historic lows, they’ve started creeping up this year. As the economy continues to recover from the effects of the pandemic, experts are predicting that rates could continue to rise. So, what does this mean if…
It’s a new year, take a mortgage holiday in 2022! Benefits of Refinancing lower interest rate and lower monthly payment Possibly lower your monthly mortgage payment by decreasing or eliminating mortgage insurance Consolidate debt Use your home’s equity to generate…
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…