If you’re wondering why mortgages seemingly come in sizes, like tubs of popcorn at a movie theater, you’re not alone. A jumbo mortgage refers to a loan amount that’s higher than the conforming or high-balance loan limit for a particular county. Presently, Fannie Mae and Freddie Mac set the maximum loan amount threshold for the… Continue Reading
For US military veterans and their spouses, the benefits of being able to use a VA loan program to purchase, refinance, and even streamline refinance their homes are well known. After all, VA financing makes up over 10% of the mortgage market. Since the creation of the VA loan guarantee program, VA loans have paved… Continue Reading
First time homebuyers, more than any class of homeowners, tend to be cash poor. That’s not a judgement statement — we all start somewhere. However, compared to other loans, FHA is much more forgiving of your liquidity-related woes. Because of FHA’s low down payments and small reserve requirements, along with options to roll your up-front… Continue Reading