Buying Mortgage Tips

What Is an Assumable Mortgage and How Much Money Can It Save Homebuyers?

Assumable mortgages seem to be all the rage these days—if you’re able to snag one. But buyers should note they can come with some very expensive caveats. What is an assumable mortgage? These loans are just what they sound like. They are the original loans taken out by sellers when they purchased their homes. When the homeowners sell their homes, the new buyers then “assume” their mortgages. The advantage to today’s buyers is many homeowners […]

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Buying Home Home Loan Home Ownership Mortgage

Buying a House in 2024: What to Expect

The market remains tough for buyers, but there’s still no time like the present to start shopping. From high prices to low inventory, potential home buyers know it’s gnarly out there. But if you’re ready for homeownership, the long-term benefit of buying often outweighs the pain of toughing out the search — even these days. Think of it like your 5 a.m. spin class: You know it’s good for you, even if it takes grit […]

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Buying Home Home Loan Home Ownership Mortgage

Mortgage Loan Limits Rise in 2023

Loan limits for most mortgages are increasing in 2023. While updated FHA and VA loan limits won’t be in effect until after the new year, if you’re getting a conventional loan from Fannie Mae and Freddie Mac, you can take advantage of increased buying power now. We’ll go over what the new limits are and what this means for home buyers or those looking to refinance. Understanding The Loan Limit Changes There are three types of […]

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Home Loan Money Mortgage Tips

10 Questions to Ask a Mortgage Lender

What are the best questions to ask a mortgage lender before you lock in a home loan? If you want to find the very best mortgage for your needs, it pays to not automatically go with the very first lender you see. “You need to shop around to make sure you’re getting the best interest rate and loan terms,” says Peggy Yee, supervising broker at Frankly Realtors, in Vienna, VA, who recommends that home buyers […]

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