Loan limits will increase in the coming calendar year to keep pace with the continued appreciation of home prices over the past year. November 26, 2024  By BUILDER Staff The Federal Housing Administration (FHA) and Federal Housing Finance Agency (FHFA) announced their new loan limits for calendar year 2025. The FHA announced its new loan limits for its…

OVERTIME INCOME AND THE DIFFERENCES WITH EACH LOAN PROGRAM Most people likely think overtime calculations are the same across the board for Fannie, Freddie, FHA, VA, and USDA. Interestingly enough they have similarities although there are some important differences between all of them. Check out the little nuances that make them unique and use them…

Reverse mortgages allow older adults to access home equity while retaining property ownership. Most reverse mortgages are Home Equity Conversion Mortgages (HECMs) insured by the Federal Housing Administration.

Mortgage rates are on an unpredictable path at present – and there’s no one-size-fits-all approach for borrowers weighing up the best decision The outlook for US mortgage rates has been nothing if not unpredictable in the second half of the year, with the 30-year fixed-rate average trending downwards during the summer before inching up in…

Experts believe the “magic mortgage rate” below 5.5% is necessary to boost home selling activity. Only 13% of homeowners would accept a rate between 6.5% and 6.99%, while 47% prefer 5.0%-5.5%.

Fox Money, a personal finance hub, provides insights on credit scores and their impact on mortgage loans. Credit scores, primarily based on payment history, credit utilization, and credit history length, influence loan approval and interest rates. Minimum scores vary by loan type: FHA loans require a score of 500 with a 10% down payment, while…

Economists foresee no housing crash in 2025 unless major economic downturn unfolds. Strong demand continues, led by millennials and first-time buyers.

The interest rate market continues the healing process after taking heavy damage in October.  During the course of that month, the average top tier conventional 30yr fixed rate increased more than 0.75% and broke above 7.0% for the first time since early July.  The first few days of November saw some additional volatility with our…

2025 housing market: moderate rise in home sales, stabilized mortgage rates, and slower price increases. All-cash buyers make up 26% of sales, driven by increased homeowner equity.