Posts Covering 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.
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
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.
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.
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.
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.
Fannie Mae’s Conventional 97 mortgage program is official. Just 3% down and ultra-low mortgage insurance rates. Easy-to-follow guidelines.
December 2, 2012 in Conforming Mortgages
For 2013, conforming loan limits range to $625,500 for a purchase and $729,750 for a refinance.
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.
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.
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.
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.
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.
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…
2018 Conforming, FHA, & VA Loan Limits
Mortgage loan limits for every U.S. county, as published by Fannie Mae & Freddie Mac, the Federal Housing Administration (FHA), and the Department of Veterans Affairs (VA)