A Guide To Using Business Funds For Self-Employed Borrowers
When you’re self-employed, securing a mortgage can come with its own set of unique challenges. One of the critical aspects that MortgageDepot emphasizes is the proper handling and calculation of business funds when they are used for down payments, closing costs, reserves, and other related expenses. Ensuring that your business can sustain the withdrawal of […]
The Trump effect – low taxes could attract UK property investors to the US
“There’s the possibility that it could pave the way for more favourable economic conditions for property investors in the UK. The fears that corporation tax and capital gains tax could be hiked under Kamala Harris have receded, which might pave the way for a more conducive environment for investors.” He added: “Trump’s policies, focussing on […]
Understanding Conventional Loan Flexibility For Condominiums
Did you know that conventional loans offer surprising flexibility when it comes to condo units? Let’s dive into the specifics. The 99% Rule: A Game Changer for Owner-Occupied Units One of the most significant advantages of conventional loans is their leniency towards condo developments with high rental rates. If you’re planning to live in the […]
Chase Relationship Pricing Offers Discounted Mortgage Rates for Up to 1% Off
If you recall, Chase took over troubled First Republic Bank back in May 2023. Prior to First Republic going under, they were the leading jumbo home loan lender in the United States. They catered to very wealthy homeowners and businesspeople. And it was ironically their ultra-low rate mortgages that eventually took them down. Today, Chase […]
FHFA to hike multifamily loan caps for Freddie and Fannie in 2025
Sandra Thompson, the FHFA’s director, said the decision showed its “strong commitment” to provide the liquidity needed to improve affordability in the rental space. FHFA will allow greater rental housing support from Fannie Mae and Freddie Mac (the Enterprises) by raising the 2025 multifamily loan purchase cap for each Enterprise to $73 billion, a […]
Get PreQualified Fast Before Making An Offer
In today’s fast-paced financial environment, every loan opportunity is critical. We value the importance of quick turnarounds for pre-qualifications, and we are committed to providing a service that goes beyond the ordinary. Our pre-underwriting process is designed to offer more than just a simple pre-qualification; it’s about delivering confidence and reliability to both you and […]
Do the Home Builders Need to Offer Mortgage Rate Buydowns to Make the Math Work?
If you’ve been home shopping since early 2022 when mortgage rates surged higher, you’ve likely come across the buydown. The buydown is used to lower a home buyer’s mortgage rate, either temporarily or permanently. It can make the mortgage payment cheaper for the first few years of the loan term, or for the entire 30 […]
MBA “remains very concerned” about FHA’s mortgage insurance premiums
FHA’s insured portfolio includes approximately 7.81 million single-family forward mortgages and 287,000 HECMs, reflecting its substantial role in the housing market. About 82.64% of FHA-insured purchase loans went to first-time homebuyers, and 31.66% of FHA loans were made to borrowers of color, a slight increase over 2023. The serious delinquency rate for FHA loans dropped […]
First Time Investor 5 To 28 Residential Units And 2 To 8 Mixed Use Properties
Welcome First-Time Investors Explore Our 5 to 24 Residential and 2 to 8 Unit Mixes Use Property Mortgages Our mortgage offerings cater to a diverse range of investment needs. Whether you’re interested in residential properties or mixed-use properties, we have the financing options to support your financing goals. Our 5-24 residential property mortgages are perfect […]
Mortgage banks post increased profits again after two-year loss streak
The boost in production profits came primarily from a decrease in production expenses, which dropped to $10,716 per loan in Q3, down from $10,806 in Q2. This decrease helped offset declining revenues, which fell to $11,417 per loan from $11,499 in the previous quarter. While production operations showed signs of resilience, the servicing side of […]