All Posts Tagged With: "limit"
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 and [...]
3Dec2009 | Peter G. Miller | 0 comments | Continued
Mortgage Loan Limits — Conventional, FHA, VA
The mortgage loan limits and policies established in 2008 and 2009 will continue through 2010.
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 [...]
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 — that would [...]
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 [...]
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 [...]
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.” For example, [...]
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.
The conventional loan limit [...]
Are There No Limits To Financial Fiddling?
At the start of every year, and with the regularity of celebrations in Times Square, new conforming loan limits go into effect.
Typically such loan limits are announced in November or December, go up each January and in general that’s good for buyers and sellers. This year the conforming loan limit for a single-family home [...]
© Copyright 