Mortgage Insurance Cancellation From The Best Lender in Frisco Texas 200 x 200

Mortgage Insurance Cancellation

Mortgage Insurance Cancellation Let’s face it, nobody likes Mortgage Insurance and the sooner you can cancel PMI the better. The information below is to serve as a guideline to mortgage insurance cancellation and is not intended to serve as legal advice. (Compliance made us say that). This content is directed towards loans that were originated […]

Maximum LTV For Conforming Loans

Maximum Loan To Value The maximum Loan To Value for Conforming Home Loans varies whether the home is a Primary Residence, a Second Home, or an Investment Property. • Primary Residence = 5% down. • Second Home = 10% down. • Investment Property = 15% down. It is worth mentioning that the VAST majority of […]

Do You Want $202 Billion in Dividends?

Did you know that Fannie Mae and Freddie Mac borrowed $187.5 Billion dollars from the U.S. Treasury? Did you know that they’ve since repaid $202.9 Billion? That’s $15.4 Billion MORE than they borrowed. BUT did you know that NONE of the $202.9 Billion went towards paying the principal owed? Instead that money was “dividends” paid […]

Qualified Mortgage Rule now in Effect

Last week, the Consumer Financial Protection Bureau’s (CFPB) new Qualified Mortgage (QM), also known as the ability-to-repay, rule went into effect. The new rule is about helping the borrower understand the true cost of the mortgage they apply for. It is also designed to keep lenders from lending money to borrowers who can’t afford to make […]

High-Cost Areas

The Federal Housing Finance Agency (FHFA) is the government agency that sets the mortgage loan limits that apply to all conventional mortgages delivered to Fannie Mae and Freddie Mac.  Meaning, they ultimately determine what is considered a “normal” loan and what is considered a jumbo loan. Conforming Loan Limits of $424,100 For 2017 the new […]

Government-Sponsored Enterprises (GSE)

A government-sponsored enterprise (GSE) is a financial services corporation created by the U.S. government. Fannie Mae and Freddie Mac are the two largest GSEs and the ones that most people know. The purposes of a GSE is to encourage lending and enhance the flow of credit by reducing the risk to investors. Here’s a very […]

Jumbo Home Loans

The Government-Sponsored Enterprises (GSE) (better known as Fannie Mae and Freddie Mac) set the Conforming Loan Limit in Texas as $424,100 for a home loan. (This amount varies from state to state and is determined by the median home value within the metropolitan statistical area). This means that anything above $424,100 in Texas is considered […]

Multiple Investment Properties

Limited to 10 Properties Fannie Mae (FNMA) does limit the number of properties that can be owned or financed when applying for new loan to purchase or refinance a non-primary residence (i.e. a second home or investment property). Fannie Mae restricts the number of single family residences (i.e. 1-4 unit) properties to a maximum of ten […]