ACT 458 – Carbon Monoxide Detectors Required in All Louisiana Homes Effective January 1, 2023, carbon monoxide detectors became required in all homes in Louisiana. “Carbon monoxide detectors will be required by law in every one or two family home…
Great news! The cancellation of proposed Debt-to-Income (DTI) related Loan Level Pricing Adjustments have been dropped by the Federal Housing Finance Agency (FHFA). These fees would have impacted borrowers who spend more than 40% of their gross monthly income towards…
Can I get a mortgage using cryptocurrency? Did you know you can count cryptocurrency like bitcoin as an asset for your mortgage? The requirements for bitcoin, cryptocurrency, or coin based assets for home loans include: Must be converted to U.S….
How a 2/1 buydown may be able to lower your monthly housing payment 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 looking…
GMFS Mortgage is celebrating 24 years of Changing Lives! We are proud to have served over 150,000 customers with over $30 billion in residential funding.
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….
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…
In March, GMFS was proud to participate in the Realtors vs Lenders Cornhole Tournament benefiting Cajun Navy Ground Forces! We had a great time and the event raised over $8,000 for Cajun Navy. The Cajun Navy is a non-profit Louisiana…