Last year, the conforming loan limit was set to increased to $424,100 for this year (2017). Now, most of the United States will see an increase for single unit properties to $453,100 for 2018. The HERA (Housing and Economic Recovery Act) indicates that the baseline conforming loan limit should be adjusted with the change in …
The Rate of Homeownership has increased from 34.3% to 35.3% from first Quarter 2017 to Second Quarter 2017 for those under 35 years of age, according to a report from the United States Census Bureau. While popular media seems to portray Millennials as a generation of renters, a whitepaper from First American lists six reasons …
[UPDATE – According to Housing Wire, This reduction has been indefinitely suspended mere minutes after Donald J. Trump was sworn in as the 45th President of the United States of America.] The Department of Housing and Urban Development announced on Monday that they plan to reduce the Mortgage Insurance Premium for FHA mortgage loans. Since 2012, …
The Federal Housing Finance Agency has announced that it is increasing the maximum conforming loan limits for mortgage loans beginning in 2017. A mortgage loan is considered “conforming” when it is eligible to be acquired by Fannie Mae and/or Freddie Mac. (Mortgages are often sold to Fannie or Freddie so that a lender has the liquidity/money available …
CNBC published an article on their Real Estate blog entitled, “‘Massive’ shortage of appraisers causing home sales delays” Below are a few quotes that summarize the story quickly, in case you don’t have the time or patience to read the article yourself. “The appraisal shortage is massive. You’re seeing significant delays, you’re seeing cost increases, …
Mortgage Executive Magazine named Benchmark Mortgage among the Top 100 Mortgage Companies in America in their Spring 2016 issue. We are honored and proud to be recognized!
Your home’s mortgage payment is based on the price of the home (minus the down payment), and the interest rate for the loan. Both prices and interest rates will likely rise in 2016. Home Prices CoreLogic anticipates a national 5.2% home value increase for the next year. The percentage varies by state, with WA, CA, NV, UT, AZ, NM, FL, and …
