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Understanding the 3% Qualified Mortgage (QM) Rule: A Key Regulation for Safe Lending

Buyers, Homeownership, Mortgage Programs, Refinance / By

The housing market’s complexity requires various regulations to ensure both borrower protection and lender stability. One such regulation, crucial for maintaining the balance, is the 3% Qualified Mortgage (QM) rule. Introduced after the 2008 financial crisis, this rule aims to safeguard borrowers from risky lending practices and ensure lenders conduct responsible underwriting. Let’s delve into …

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The Four Types of Qualified Mortgages: A Simple Guide

Buyers, Homeownership, Mortgage Programs, Refinance / By

Buying a home can be complicated, especially when understanding the different types of mortgages. Qualified mortgages (QMs) are loans that follow specific rules to make sure they are safe and affordable for borrowers. Let’s break down the four main types of QMs in a way that’s easy to understand. 1. General Qualified Mortgages What They …

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Understanding Non-QM Mortgages: A Comprehensive Guide

Buyers, Homeownership, Investment Property, Jumbo Loans, Mortgage Programs, Refinance, Self employed / By

When it comes to securing a mortgage, not everyone fits the mold required for a traditional, qualified mortgage (QM). Nonqualified mortgages (non-QM) can provide a viable path to homeownership for those who find themselves outside these conventional boundaries. In this blog, we’ll explore what non-QM mortgages are, who they are for, and the pros and …

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Fannie Mae’s Game-Changing Shift: 95% LTV for 2-4 Unit Properties

Buyers, Homeownership, Investment Property, Mortgage Programs, Refinance / By

Knowing about the latest industry guidelines and shifts can significantly impact your investment strategies in the ever-evolving realm of real estate and financing. Fannie Mae, a prominent player in the mortgage industry, is introducing groundbreaking adjustments to their guidelines, poised to reshape the landscape of multi-unit property investments. Effective November 18, 2023, Fannie Mae is …

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Updated CA Dream For All – Funding and Parameters

Buyers, Homeownership, Investment Property, Mortgage Programs, Refinance / By

The California Housing Finance Agency (CalHFA) is gearing up for Phase 2 of its very exciting Down Payment Assistance (DPA) program called the Dream for All program. This equity share program had some of the most substantial benefits of all the DPA programs. However, within a week, the program ran out of its initial $300M …

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