If you’ve been following the financial news, you might have been surprised to hear that mortgage rates actually increased after the Federal Reserve recently cut interest rates by 50 basis points. It sounds strange, right? After all, isn’t a rate…
If you’re considering buying a home or refinancing your mortgage, you’ve probably come across the term conforming loan limits. These limits are crucial because they determine the maximum amount of a mortgage loan that can be acquired by government-sponsored enterprises…
When you're buying a home with an FHA loan, the appraisal process is a crucial step. Unlike a traditional home appraisal that mainly focuses on determining the market value of a property, an FHA appraisal goes a step further to…
Self-sufficiency is a crucial concept in the Federal Housing Administration (FHA) mortgage guidelines for borrowers looking to finance 3- to 4-unit properties. Self-sufficiency refers to the property’s ability to generate enough rental income to cover its mortgage payments. This requirement…
Buying a home can feel like an overwhelming experience, especially when it comes to figuring out how to pay for it. The good news is that the Federal Housing Administration (FHA) offers an excellent option for people looking to purchase…
