This guide covers Fannie Mae HomeReady mortgage guidelines on conventional loans. There are two home loan programs: government loans, which are insured by government agencies, and FHA, VA, and USDA, which are government loans. Conventional loans that are not insured or have government or agency insurance This article will cover and discuss the Fannie Mae…
This guide covers community property states mortgage guidelines. Community Property States Mortgage Guidelines: Community property is derived from older Spanish law, which allows for a 50/50 split in any property owned by a married couple. This derives from the notion that maintaining equal ownership is essential to establishing a strong family unit, an important civil…
In a move with significant implications for the housing market, FHFA increases conventional loan limits in 2024. This decision comes amid evolving market conditions and aims to provide homebuyers with greater access to financing. Understanding these changes is crucial for prospective borrowers seeking to navigate the mortgage landscape effectively. Learn more about FHFA increases conventional…
Suppose you’re a real estate investor or looking to finance multiple properties. You may have heard of Fannie Mae 5-10 financed properties guidelines in that case. These guidelines limit the number of financed properties an individual can have when applying for a new mortgage through Fannie Mae. In this article, we will cover and discuss…
This guide will cover Fannie Mae bankruptcy and foreclosure guidelines The Fannie Mae bankruptcy and foreclosure guidelines require a mandatory waiting period for homebuyers seeking a conventional loan. There are two different waiting period requirements depending on the type of Bankruptcy. Dale Elenteny of Gustan Cho Associates explains the role of Fannie Mae and Freddie…
This guide covers mortgage rates on FHA vs conventional loan rates. Mortgage rates on FHA vs conventional loans have been steady for the past year. Mortgage rates on FHA vs conventional loans have been historically low. This is due to HUD, the Federal Housing Administration (FHA) parent, guaranteeing FHA loans. In general, mortgage rates on…
Apply Now This guide covers the breaking news on the downpayment requirement on 2-to-4 Unit Multi-Family mortgage loans and the eligibility requirements to purchase a two-to-four-unit multi-family home. Fannie Mae lowers the down payment requirement on a two-to-four-unit multi-family primary home to a 5% down payment from the previous 15% to 25% down payment requirements,…
This guide covers refinancing FHA to conventional loan eliminating FHA mortgage insurance premiums. Home sales are hot throughout the United States. Homes in Florida, California, Illinois, Virginia, Texas, Georgia, Indiana, Wisconsin, Washington, and the United States have appreciated double digits in the past 24 months. Dale Elenteny, a senior mortgage loan advisor at Gustan Cho…
Get a Fast Quote: Click Here This blog will cover conventional mortgage after short sale and deed-in-lieu of foreclosure. Homeowners who have had a deed-in-lieu of foreclosure or a short sale can qualify for a Conventional mortgage after short sale and deed-in-lieu after four year waiting period. The 4-year waiting period start clock starts from…
Get a Fast Quote: Click Here This mortgage guide on Fannie Mae guidelines on conventional loans will cover the latest updates on Fannie Mae and Freddie Mac guidelines on changes in conforming loans. It will include loan limit increases in both standard median-priced areas and high-cost counties. Conventional loans are the mortgage loan of choice…
Apply Now In this article, we will cover the difference between Conventional versus FHA loan guidelines. We will discuss the differences between Conventional versus FHA loan for borrowers. Borrowers may benefit from one loan program over the other. Each case will need to be evaluated on an individual case-by-case basis. There have been changes with…
Apply Now This Article Is About Conventional Home Loan With Bad Credit Mortgage Guidelines Conventional Loans have much tougher credit requirements than FHA Loans. Conventional Loans are not government loans. Conventional Loans are often called conforming loans because they need to conform to Fannie Mae and/or Freddie Mac Guidelines. The Federal Housing Finance Agency regulates…
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