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What It Means for Borrowers and the Industry In a significant policy shift, the Federal Housing Finance Agency (FHFA) has directed Fannie Mae and Freddie Mac to terminate their involvement in Special Purpose Credit Programs (SPCPs). The announcement, made end…
Why Private Mortgage Insurance (PMI) Isn’t as Bad as You Think For many homebuyers, Private Mortgage Insurance (PMI) has a bad reputation. It’s often misunderstood as an unnecessary extra cost, leading some buyers to delay their purchase in an attempt…
Now Accepting Higher Loan Limits, Higher Possibilities In a significant move to bolster homeownership and accommodate rising property values, the Federal Housing Finance Agency (FHFA) has announced an increase in the conforming loan limits for Fannie Mae and Freddie Mac…
Discover mortgage solutions tailored to low- and moderate-income buyers in Pennsylvania (PA) and Florida (FL). The concept of affordable home loan programs is essential for making homeownership accessible to a larger number of individuals. Affordable programs are designed to support…
Fannie Mae Unlocks 90% LTV Appraisal Waivers—Is Your Home Eligible? Fannie Mae today announced significant updates to its appraisal policies, aiming to make home valuation more efficient and cost-effective for borrowers. These changes, set to roll out in early 2025,…
Discover how 3% down conventional loans rival FHA for first-time buyers. Many prospective homebuyers assume that the FHA loans 3.5% down payment requirement is the lowest down payment option available. However, that’s not entirely true. For first-time homebuyers, conventional loan…
Buying a home is one of the most exciting milestones in life, but it can also feel overwhelming. One of the essential steps on this journey is getting "mortgage ready." At Innovative Mortgage Brokers, we specialize in guiding you through…
Are you considering buying a home in Pennsylvania, but unsure which mortgage option suits you best? Understanding the differences between conventional and FHA loan options can make a world of difference in your homebuying journey. Let’s break down these two…
Homeownership is a cornerstone of the American dream, yet for many first-time homebuyers, the path to acquiring a home can seem daunting, if not outright unattainable. High down payments and closing costs often serve as significant barriers. However, a Special…
Navigating the world of mortgages can be a daunting task. With many different options available, and rates varying from lender to lender, it's crucial to find a trustworthy partner who can guide you through this process. That's where Innovative Mortgage…
