Like last year, the limits are increasing again. Conforming loan limits increased from last year’s $647,200 to $726,200 for 1-unit properties. In high-limit areas like coastal California, the limit is as high as $1,089,300. You can view a map showing the conforming loan limits across the country here. Increasing the conforming loan limit means more …
Mortgage lenders are bringing back a loan program called a 2-1 buydown or temporary buydown. These programs have been around for a while but only get dusted off when rates have recently increased. The buydown is a way to lower interest rates and buyers’ mortgage payments for the short term. The seller or builder typically …
Using a Temporary Buydown to Lower Housing Payments Read More »
Obtaining a home loan while self-employed has all the same steps and qualifying metrics as any other loan. We measure credit. We measure loan-to-value. We measure income, and we measure expenses. Qualifications are either inside the box or not. There is no subjectivity. In our experience, the most common obstacle for our self-employed clients is …
Home equity is at an all-time high. Borrowing money secured against your home can be a great way to consolidate debt and get cash for home improvements. When considering borrowing against your home’s equity, you typically have two options: you can do a full refinance and replace the existing loan or obtain a loan against …
If you’re a first-time refinancer, you might be unsure about what to expect in the process. At QHL, our top priority is to provide you with support — let’s start with dispelling some common refinance myths so you can approach your refinance with clarity and confidence. Myth #1: You won’t save that much money by refinancing. …