Home closing: What happens on the day of funding?

July 30, 2018…Your mortgage: What is the day of funding? If you use a mortgage to buy a home, your home closing can’t happen before the “day of funding.” That’s when all of the lender’s “prior to funding” conditions have been met and the loan proceeds can be wired to the escrow account and distributed… [Read More]

What does “underwriting” mean? How to deal with loan conditions

Your mortgage application: underwriting and loan approval Once you submit a mortgage application, it goes into underwriting. But what does underwriting mean? Mortgage underwriters examine your application and documents to approve or decline your application Computers can approve mortgages, but human underwriters must verify that your documents match the information on your application Underwriters usually… [Read More]

PSA for Self-Employed borrowers

March 27…If you are self-employed and hear the following from your loan officer when going through the preapproval process you should RUN for the hills: What was your income? Why should these 4 words scare you? After all, loan officers ask this question of wage earners all the time. The answer is fairly straight forward…. [Read More]

GREAT NEWS: FHFA Raises Conforming Loan Limit to $453k

Loan limits were frozen in place at $417,000 for 10 long years after the housing bust, but were finally raised on January 1 of this year. Rapidly increasing home prices have now allowed the Federal Housing Finance Agency (FHFA) to increase them again for 2018. The maximum conforming loan limits for mortgages eligible to be… [Read More]

How to Keep a Healthy Home with Pets

Pets can add an immense amount of joy to the lives of their owners. No matter what animal you have, your pet quickly becomes your whole world. They love unconditionally and provide great companionship, which is why they deserve to live in a happy, healthy home, just like you do. Read More Here

Home prices surpass housing boom peak


8/7/2017…Fannie Mae released its 2017 Second Quarter Credit Supplement report when it reported its earnings Thursday, which showed home prices hit an all new high, surpassing the previous 2006 peak. Home prices increased 2.4% in the U.S. from the previous peak in the third quarter of 2006 to the second quarter of 2017. Read More… [Read More]