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…
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…
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…
Good news. There have been updates to Government Loan Fico Score requirements that may allow more borrowers to qualify! FHA and VA Loans may accept FICOS down to 620! Contact a GMFS Mortgage Loan Officer today for a no-obligation consultation…
Is owning a home beneficial at tax time? YES. Homeownership is good for you. It helps you put down roots in a community, provides a sense of stability, is an excellent investment, and can even help you save on your…
The U.S. Department of Housing and Urban Development (HUD) is once again supporting a program that allows immigrants under the Deferred Action for Childhood Arrivals (DACA) program to apply for Federal housing Administration (FHA) mortgages. Under the DACA program, people…