Fannie Mae renovates its HomeStyle® mortgages

March 3, 2018 in About Mortgages Conforming Mortgages

Fannie Mae Homestyle® mortgages are now better than ever, thanks to higher loan-to-values, increased remodeling budgets and expanded property guidelines.

You don’t have to pay your back taxes to get a mortgage

January 30, 2018 in About Mortgages Conforming Mortgages Mortgage News Mortgage Products Tax Law For Mortgages

Can you get a mortgage if you owe back taxes? Fannie Mae says you can, if you follow these tips.

Rising Mortgage Rates Affect Home Affordability, But Less Than You Think

July 10, 2017 in Buying a home Conforming Mortgages

Rising mortgage rates mean higher payments, and that impacts home affordability. But the relationship is more complicated than that, and the news may not be as bad as you think.

2018 Mortgages Are Different: Fannie Mae Changes You Need To Know

March 14, 2017 in Conforming Mortgages

Conforming mortgages this year will be a little different, thanks to changes at Freddie Mac and Fannie Mae. Here are the ones most likely to affect you

Freddie Mac’s Home Possible Versus Fannie Mae’s HomeReady: Which Is Better?

February 5, 2017 in Conforming Mortgages

Home Possible Advantage, offered by Freddie Mac, and HomeReady, offered by Fannie Mae, are similar programs for homebuyers without large down payments. Here’s an explanation of the program differences, and how they might matter to you.

Community Second Mortgages For Down Payment And Closing Costs

December 27, 2016 in Conforming Mortgages

Community second mortgages are are loans provided by states, counties, local housing agencies, nonprofit organizations or employers for down payments and closing costs.

“Expensive” Homes Easier To Mortgage Under New Mortgage Rules

January 19, 2016 in Conforming Mortgages

Fannie and Freddie have made it easier for home buyers in “high-cost” areas to get mortgage-approved. Rates are now lower and mortgage standards more loose.

Conforming mortgage loan limits (1990-2015)

2015 Conforming Mortgage Loan Limits For Loans Via Fannie Mae And Freddie Mac

June 17, 2015 in Conforming Mortgages

Fannie Mae and Freddie Mac set conforming loan limits for the country. The complete 2015 loan limits, plus a lookup chart by U.S. county. Analysis and live rates.

Conventional Loan 3% Down Available Via Fannie Mae & Freddie Mac

April 8, 2015 in Conforming Mortgages Conventional Loans

Fannie Mae’s Conventional 97 mortgage program is official. Just 3% down and ultra-low mortgage insurance rates. Easy-to-follow guidelines.

2013 Jumbo Loan Limits : Loan Sizes Up To $625,500

December 2, 2012 in Conforming Mortgages

For 2013, conforming loan limits range to $625,500 for a purchase and $729,750 for a refinance.

Improve Your Mortgage Approval : The Income-Equity-Credit Triangle

September 12, 2012 in Conforming Mortgages

Mortgage underwriting may be strict, but there’s no magic formula for getting approved. Satisfy the Mortgage Income-Equity-Credit Triangle.

New Fannie Mae Guidelines December 13, 2010

Winter 2011 : “Cheat Sheet” For The New Fannie Mae Guidelines

December 10, 2010 in Conforming Mortgages

In Winter 2011, Fannie Mae changed its mortgage guidelines to favor personal income over personal assets. Check the “Cheat Sheet” to see how you’ll be affected.

2011 Conforming Mortgage Loan Limits By County, Including “Normal” and “High-Cost” Areas

November 30, 2010 in Conforming Mortgages

In 2011 — for the 6th consecutive year — the single-family conforming mortgage loan limit will be $417,000. The “high-cost” area program is extended, too.

Fannie Mae To Get Tougher On Mortgage Insurance, Income Levels and Credit Scores

September 29, 2009 in Conforming Mortgages

For the second time in 10 weeks, Fannie Mae is toughening its mortgage guidelines again. Again. According to an internal Fannie Mae document, a review of the group’s current “risk appetite, eligibility requirements, mortgage insurance options, and pricing” spawned changes spanning credit scoring, income requirements, loan-level pricing adjustments.

Fannie Mae Toughens Guidelines On 2-Unit Homes, Trailing Spouses And Retirement Portfolios

July 20, 2009 in Conforming Mortgages

Mortgage approvals are getting more difficult. Again. After reviewing recent unemployment data and market fluctuations, plus patterns of mortgage fraud, Fannie Mae is making major mortgage guideline changes for the first time in more than 6 months. The changes are broad, impacting 15 separate areas of the mortgage approval process. The most impactful change may be Fannie Mae’s new restrictions on mortgages for 2-unit properties.

A Six-Figure Income And Impeccable Credit Doesn’t Insulate You From Tightening Mortgage Guidelines

August 12, 2008 in Conforming Mortgages

Four times annually, the Federal Reserve surveys 84 banks around the country about general lending standards and banking conditions. One of the survey questions asks about current mortgage lending standards and whether it’s getting harder, or easier, to get approved for a home loan. Modified from the report, we see…