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The world of mortgages is ever-changing, and it's essential to stay updated with the latest developments. One crucial aspect that often undergoes changes is the conforming loan limit. This year, there's an anticipated increase in this limit, and some lenders…
Fannie Mae, a leading source of financing for mortgage lenders, recently announced significant changes in its Desktop Underwriter (DU) system. The updates are expected to affect the maximum allowable loan-to-value (LTV) ratios for two- to four-unit properties. Changes to LTV…
In the evolving landscape of housing, one trend that has been gaining traction is the use of Accessory Dwelling Units (ADUs). We're here to shed light on this emerging phenomenon and what it could mean for homeowners and potential buyers…
At Innovative Mortgage Brokers, we place great emphasis on keeping our customers up-to-date about any fluctuations in the mortgage industry. Recently, Freddie Mac has made some significant updates to their guidelines concerning student loan payment calculations that could potentially impact…
As a homeowner or potential homebuyer, you may have heard about how inflation can impact mortgage rates. But what does this mean for you? And how can you navigate this complex landscape? At Innovative Mortgage Brokers, we're here to help…
As a mortgage broker, we’ve seen firsthand how the right lender can make a world of difference when it comes to securing a mortgage. A recent study by the Consumer Financial Protection Bureau (CFPB) highlights this point, revealing that borrowers…
Approximately two weeks ago FHA announced they will be lowering mortgage insurance premiums for all FHA borrowers. This is welcome news for many because the MIP discount is as much as 30 basis points lower. The FHA dropped MIP from…
Conventional loans don’t have upfront mortgage insurance fees like government-backed loans (FHA) have, but there are fees behind the scenes many borrowers don’t realize. You may not see the charge, but it’s wrapped into your interest rate, affecting your mortgage…
The 2022 housing market has been defined by two key things: inflation and rapidly rising mortgage rates. And in many ways, it’s put the market into a reset position. As the Federal Reserve (the Fed) made moves this year to…
If you’re a homeowner, your net worth got a big boost over the past few years thanks to rapidly rising home prices. Here’s how it happened and what it means for you, even as the market moderates. Equity is the…
