If you just closed on your new home, you’ve probably got a lot of things on your mind, like home maintenance, homeowners insurance, and property taxes. You may have an escrow account (also known as an impound account) with your lender that splits up your taxes and homeowners insurance into monthly payments rather than a lump sum. …
What California Homeowners Should Know About Supplemental Tax Bills Read More »
Are you looking to set yourself up financially? Purchasing a home is one of the biggest investments most people make in their lifetime, and it’s an important decision. It can be both exciting and intimidating when first visiting properties, but investing in a home is about securing your financial future. There are many financial benefits …
Are you considering taking advantage of a temporary rate buydown to get a lower interest rate on your home loan? Be aware that this strategy can be risky for low-down payment borrowers. We’ll explain why and offer alternatives. Keep reading to learn more! What is it? A temporary rate buydown is a financing tool used …
FHA loans will become more desirable and affordable. The US Department of Housing and Urban Development (HUD) announced today that it would provide lower monthly mortgage insurance premiums on Federal Housing Administration (FHA) loans. This move is aimed at helping more Americans achieve homeownership by making it more affordable. Why FHA FHA loans are popular …
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 …