How Conforming Loan Limits Are Set Each Year

Here in just a couple of weeks, some important economic data will be reviewed by the Federal Housing Finance Agency, or FHFA. This new data will then impact the new conforming loan limits for 2019. Mortgages are considered either a “conforming” or “jumbo” based upon the amount borrowed. Conforming loans that are underwritten to Fannie…

How to Finance a Mixed-Use Property

There are essentially two types of real estate- residential and commercial. Residential is self-evident in that people occupy the property as their primary dwelling or rent the property from the owner. Commercial real estate is income producing whether it be for an office building or a doctor’s office or a beauty salon, for instance. But…

Private Lending: Why It’s So Important

Have you heard of private lending? Not so much as an owner-financed home but loans made by a certain type of lender using its own internal guidelines without having to follow third party regulations? Private money, or so-called “hard money,” is a valuable asset in the world of real estate and without it many existing…

Construction and Permanent Loans Explained

There are different types of home loans available that fall into various categories. There are fixed rate loans and adjustable rate loans. Loans for owner occupied properties and loans for rentals. There are loans for a purchase and loans for a refinance. The list is really quite extensive. Two others are construction and permanent loans.…

5 Mistakes Home Sellers Make

There’s no shortage of advice for home buyers. Getting approved for a mortgage or how to keep on top of a credit report is certainly good advice but there should be just as much attention given to those who are selling their home. After all, home sellers also typically turn around and become home buyers.…

The VA Streamline

VA loans, for those eligible, are the ideal option when coming to the closing table with as little as possible is a primary goal. VA loans don’t require a down payment whatsoever and one of the few zero-down options in today’s mortgage marketplace. The VA loan program also carries with it an inherent guarantee to…

What to Expect When Getting Pre-Approved

Getting “pre-qualified” today when preparing to buy a home is so 80’s. Getting pre-qualified then meant talking to a loan officer over the phone or in an office and having a conversation about various aspects of your financial life. The loan officer asks about your job, how long you’ve worked there and how much money…