Tag Archive for: fannie mae

Refinancing Is Now Way More Expensive – Or More Difficult

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This short IG video, titled “Refinancing Is Going To Be More Expensive Than Ever” was making the rounds on social media recently. We were getting questions, so I decided to blog about it. It is a good video, but the gentleman is only about half right.Read More

Fannie Mae Is Making Strong Borrowers Subsidize Weak Borrowers

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The interest rates for many “strong borrowers” will now be anywhere from 1/8% to as much as 1/4% HIGHER than they otherwise would be – if Fannie and Freddie had not imposed these changes.Read More

FHA Rates Even Lower! I Hope Buyers Stay Home :)

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Boomer Error! On Friday, I pointed out how FHA rates are now often far better (by over 1%) than Fannie Mae Rates in this blog: FHA Keeps Beating Fannie Mae! […]Read More

Rates Climbed 1% in February! Great Opportunity For Buyers!

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Why Is My Client’s Rate So High? That is a question we have heard from several agents over the last week. The primary reason is usually just a misunderstanding of […]Read More

Fannie Mae Is Raising Rates for STRONG Borrowers

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Approximately 85% of FHA loans are for first-time homebuyers. In contrast, about 50% of Fannie Mae’s and Freddie Mac’s “conforming loans” are for first-time homebuyers. As a quick reminder, FHA […]Read More

FHA Just Got Even MORE AMAZING! (MIP Cut By 30 Basis Points!!)

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I used to blog quite often about how advantageous FHA loans are for a variety of reasons – In Defense of FHA/Misconceptions Persist. The reasons include: 1. Rates much lower […]Read More

First-Time Homebuyers = Expansive Term; Maximum Age For Mortgage; Competitors Come to Us

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Competitors Come To Us For A Mortgage We frequently have individuals from competing mortgage lenders come to us for mortgage financing because (1) we have more loan programs than they […]Read More

Who Buys Loans From Mortgage Banks; How It Works & Why It Matters

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Most mortgages in America are funded by “mortgage banks” – which are entities that solely originate, underwrite, and fund mortgages; they do not hold deposits or do any of the […]Read More

Fannie Mae’s Greatest Hits! (You Don’t Want To Miss This)

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We recently locked a refinance for a borrower at 6.875% – after he was quoted 5.25% by another loan officer. The borrower did not use the other loan officer because […]Read More

1.5% Lower Rates For First-Time Homebuyers! Please Understand How HUGE This Is!

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In late October, Fannie Mae eliminated most of the fees (that effectively increased the interest rates) for first-time homebuyers (FTHBs). I blogged about it in November – Fannie Mae Made […]Read More

Loan Buybacks Are Surging and DANGEROUS!

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Russian Mobster Sending Me Lots of Business Around 2004, an agent referred a Russian gentleman to me for a purchase. He was very wealthy, very well-dressed, very polished, very serious […]Read More

2023 Conforming Loan Limits Surge To Over $1 MILLION! Some Interesting Perspective

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1994’s Limit Was $203,150 When I got into the mortgage business in 1994, the conforming loan limit was $203,150. Adjusting for inflation, that is about $408,000 today (almost exactly 2x […]Read More

Fannie Mae Made Rates WAY LOWER for First-Time Homebuyers!

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In mid-November, both Fannie Mae and Freddie Mac made homebuying ridiculously less expensive for many, if not most first-time homebuyers! And – I was remiss for not blogging about it […]Read More

Conforming Loan Limits In California 2022

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The U.S. Median Home Price has increased over 15% this year in California, and the FHFA increased the Conforming Loan Limits significantly. Check out the limits here.Read More