Significant Changes in Home Mortgage Lending

Are you aware of the recent changes to mortgage fees by the Federal Housing Finance Agency (FHFA)? Effective May 1st, new rules by the FHFA have adjusted fees to favor lower-income and credit-score individuals, while higher-income and credit-score individuals may experience higher fees. The FHFA oversees both Fannie Mae and Freddie Mac, the two organizations […]

Need a Quick Loan at a Competitive Rate?

Access to lending on short notice can be a valuable asset. When we need to borrow money, we often think of traditional lending from a bank. However, one quick source of funds at competitive rates is a margin loan against your investment portfolio. With a margin loan, you put up your personal investment account as […]

Eliminate Private Mortgage Insurance (PMI)

With inflation putting pressure on consumers, steps to relieve the strain and save money are at a premium. Well, good news!  Due to the rapid increase in home values over the last few years, many homeowners now have an opportunity to improve their cash flow by eliminating their Private Mortgage Insurance (PMI). With PMI costing […]

Using Your Home Equity Line of Credit (HELOC)

With home equity values at all-time highs and inflation straining the budgets of everyday Americans, it can be tempting for homeowners to utilize the increase in their home’s value over the past few years in the form of a home equity line of credit (HELOC). While the HELOC can be a great source of financial […]

Does Renting Make Sense in Today’s Market?

Red sign that reads "for rent" hanging from white post in landscaped front yard

Last week we discussed principles to abide by when thinking of purchasing a home. First, a quick review of the key points: Establish a cash reserve for unforeseen expenses. Prioritize your savings. DO NOT exceed 28% of gross income AFTER SAVINGS on your mortgage payment. This week, I want to discuss why renting may be […]

Are You Planning to Purchase a Home?

row of colorful shotgun style houses on tree lined street in afternoon sunlight

In the late Fall of 2021, the 30-year fixed-rate mortgage at below 3% offered cheap financing for borrowers looking to purchase, or refinance, a home. However, while the cheap financing seemed like a blessing, the acceleration in home prices was the devil in disguise. Fast forward just a few months, and we see 30-year fixed-rate […]

Financing a Home is Easier than Ever!

There is nothing more satisfying than making an investment for your future. One of the most important investments you will make in your life is when you buy a house. When purchasing a home, loans rates are typically less expensive if the home is financed under a conventional loan with mortgage brokerage companies like Fannie […]

Borrow on a 30-Year Mortgage and Invest the Difference?

On the popular social media site, Tik Tok, a recently circulated video has gained a lot of notice.  Its premise is that a smart financial move is to take out a 30-year mortgage on your home instead of a 15-year mortgage and invest the difference.  The video distinguishes between a 15- year mortgage and a […]

Conventional Home Loans Getting Cheaper

row of colorful shotgun style houses on tree lined street in afternoon sunlight

In December of 2020, Fannie Mae and Freddie Mac, the two largest government-controlled mortgage companies, which purchase half of all mortgages in the US, applied an additional 0.5% fee to all of their conventional loan purchases.  The fee, intended to reduce Covid-19 and the housing market risks, added approximately $1,400 in costs to an average […]