All Posts Tagged With: "limit"
FHA Loan Limits Rise, Conventional & VA Mortgage Limits Stick
It didn’t take long for the lower mortgage limits that began October 1st to be changed. As of November 18th the mortgage rate limits were selectively revised with FHA loan limits increasing but with conventional loan limits staying the same. Does this change make a lot of sense? No. Is this change the law of [...]
25Nov2011 | Peter G. Miller | 0 comments | Continued
New FHA, VA and Conventional Mortgage Loan Limits
As of October 1, 2011 new and lower mortgage loan limits will be here unless Congress unites and stops the planned changes. Since Congress unites over very few things borrowers are likely to find bright and new loan limits as of Oct. 1st. Note: This material is now out of date. Please go to: FHA [...]
12Sep2011 | Peter G. Miller | 0 comments | Continued
Mortgage Loan Limits — Conventional, FHA, VA
The high mortgage loan limits and policies started during the foreclosure worries of 2008 will continue through 2011. Note: This material is now out of date. Please go to: FHA Loan Limits Rise, Conventional & VA Mortgage Limits Stick. There are several types of mortgage loan limits. Generally, most borrowers need to look at conventional, [...]
15Nov2010 | Peter G. Miller | 1 comment | Continued
Conventional Mortgage Basics
Finding out how much you can borrow with a conventional mortgage to buy or refinance a home is both science and art. The answer will vary according to the lender you chose, underwriting standards, your financial history, the type of loan you seek, the business climate at the time you apply, and the exceptions that [...]
7Dec2009 | Peter G. Miller | 0 comments | Continued
VA Mortgage Basics
Since the end of World War II the US has had an extensive benefits program in place for those with military service. The benefits include healthcare, help with college tuition and home loans. The VA mortgage program is the single best form of real estate financing available because qualified individuals can purchase with nothing down [...]
3Dec2009 | Peter G. Miller | 0 comments | Continued
Credit Scores: Why Do The Numbers Change?
Question: My credit score was 670 a month ago, now it’s 650. What happened? Answer: Credit scores can be seen as pictures which show your credit standing at one point in time. At any other point in time the picture may be different. Actually, it would be amazing if credit scores did not change — [...]
1Sep2009 | Peter G. Miller | 0 comments | Continued
2009 Mortgage Loan Limits (Updated)
There are several types of mortgage loan limits. Generally, most borrowers need to look at conventional, FHA and VA loan limits to see how much can be financed with the most-widely originated loans. If you borrow at or below the conventional loan limit for non-government mortgages, you would have what is generally known as a [...]
26Feb2009 | Peter G. Miller | 0 comments | Continued
Will Your Home Equity Line of Credit Be There When You Need It?
If you have a home equity line of credit — what the industry calls a “HELOC” — you probably think of it as a financial safety net, quick cash you can access in times of emergency or when you face a big expense that can’t otherwise be paid all at once. Unfortunately, HELOCs have been [...]
20Sep2008 | Peter G. Miller | 0 comments | Continued
What’s A “Seller Contribution” In Real Estate?
A sale agreement typically includes both a purchase price for the property as well as various terms and conditions. It sometimes happens that a buyer will make an offer subject to certain terms — I’ll buy your house but I want to keep the washer and dryer or whatever. One possible condition concerns “seller contributions.” [...]
29Aug2008 | Peter G. Miller | 0 comments | Continued
Do Higher Mortgage Limits Matter?
The huge debate in Washington regarding whether or not conventional loan limits should be raised is over. Those who wanted higher limits won with passage of the new stimulus package, a big deal because higher loan limits mean that big-ticket buyers will be able to get larger loans at less cost. Note: The numbers in [...]
20Aug2008 | Peter G. Miller | 0 comments | Continued
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