Mortgage rates continue to tick upwards and home prices are hitting all-time highs, though the market does appear to be slowing down. After a strong open to the spring season, listings are coming in with a bit more balance and breathing room, revealing fewer offers and less competition as the season progresses. As a result, […]
Some of my clients are asking, should I refinance my jumbo mortgage now or wait? It might not be the right move for every homeowner but it could be a smart financial decision depending on your financial goals. Yes, mortgage rates are starting to rise. Mortgage interest rates are still low, but as mortgage rates […]
The New Year is upon us and if you’re going to start the New Year off jumping into the homebuying market. 2019 is just now appearing in our rearview mirror. There were several changes made which will all take effect on January 1, 2020. Many of the changes are more like “tweaks” to existing regulations […]
Mortgage loan limits for conforming loans will take effect on January 1 of next year. For 2020, the conforming loan limit for a single family home will be $510,400, up from $484,350 in 2019. Higher limits will also apply to a duplex, triplex and fourplex. What, exactly is a conforming loan? Conforming Loan Explained A […]
It didn’t get a whole lot of publicity last week, but there was a major change for VA Home Loans. More specifically, the VA loan limit, or loan cap. Over the years, the VA loan limit has changed and the changes have always been favorable to the veteran. The most recent adjustment eliminates the VA […]
Mortgages are typically divided into two categories- conforming and jumbo. A conforming loan is one where the maximum loan amount is $484,350 for most parts of the country. In higher cost areas where the median home value is higher than the norm, the conforming limit rises as high as $726,525. Conforming loans are by far […]
If you’re eligible for a VA loan and want to come to the closing table with as little money as possible, a VA loan is going to be hard to beat and for several reasons. The most popular is probably not requiring a down payment. That is at least up to the maximum VA loan […]
If you’re in the mortgage business you automatically know what these terms mean. And they’re important but if you’re not in the business you might have a vague awareness of the terms, especially if you’ve recently bought or financed a home here in the San Jose area. In other parts of the country where home […]
The VA home loan is without peer when it comes to providing a competitive mortgage option with as little cash to close as possible, but the VA Jumbo Loan is a lesser know option. VA loans don’t require a down payment while at the same time restricting certain types of closing costs from payment by […]
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