by maria | Aug 23, 2016 | Exclusive QA |
Conventional loan limits are limits imposed on the amount of money you can borrow to finance a home purchase. The loan limit generally increases each year and applies to single-family homes in the 48 contiguous states, with higher limits in Alaska, Hawaii, Guam and...
by maria | Aug 23, 2016 | Exclusive QA |
They are the same as conforming and non-conforming loans. A conventional, or conforming, loan is one not insured by the Federal Housing Administration (FHA) or guaranteed by the Veterans Administration (VA), two federal government agencies that make homeownership...
by maria | Aug 23, 2016 | Exclusive QA |
Conforming loans have terms and conditions that adhere to guidelines established by Fannie Mae and Freddie Mac, the two, big quasi-government corporations that purchase mortgage loans from lenders then package them into securities that are sold to investors. Their...
by maria | Aug 23, 2016 | Exclusive QA |
That certainly is an option, although not one most people can afford. Unless you’re independently wealthy or have hit the jackpot, it may be difficult to make a ‘no-mortgage’ investment. And an investment is exactly how you should view it because you...
by maria | Aug 23, 2016 | Uncategorized |
Putting down as little as possible lets you take full advantage of the tax benefits of homeownership. Mortgage interest and property taxes are both fully deductible from state and federal income taxes. Also, making a small down payment frees up cash that you can use...