CHamler

Proprietary reverse mortgage loan products will one day enter the housing market. When this time comes, will these Home Equity Conversion Mortgage alternatives change the reverse mortgage landscape? During the National Reverse Mortgage Lenders Association 2017 Annual Meeting & Expo held in San Francisco, California, CEOs encouraged industry players to come up with alternative products that will go above and beyond what the HECM can offer. The move to design potential proprietary reverse mortgage products aims not to replace the HECM in the market but to create more diversified options for senior homeowners. HECM faces lower principal limit factors…

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2017 Recap For 2017, the maximum FHA loan limit in low-cost areas (floor) is $275,665 for a standard, single-unit home. This was increased from 2016’s $271,050. In high-cost areas (ceiling), the limit is $636,150 for a one-unit property. This was a leap from the $625,500 ceiling for 2016. The Report The Federal Housing Administration (FHA) has announced on December 7, 2017 (Thursday) that the FHA loan limits for 2018 will be increased. This announcement was done weeks after the Federal Housing Finance Agency (FHFA) publicized the higher national conforming loan limits with is expected to take effect next year.…

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Due to the drastic rise in home values all throughout most of the country, the Federal Housing Finance Agency has announced an increase in the conforming loan limits across the United States. The announcement happened on November 28, 2017 (Tuesday) by the FHFA. This increase was done to match the 6.8 percent hike in home values. The new loan limits are set to take effect in the coming year. This is the second straight year that the loan limits were adjusted. It is to be noted that the loan limits for conforming mortgage loans were also adjusted for 2017.Government-sponsored enterprises…

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Houses that are move-in ready are a lot more convenient thinking that you don’t have to worry about anything else other than moving in. However, these properties can be very expensive. What makes fixer-upper houses very appealing is the attractive price tag. With some repairs and renovations, you’ll have a home that can be as beautiful as a newly-built property. However, it is never easy to buy a fixer-upper. To make sure that you aren’t shortchanged of your money for purchasing the property, you have to determine if the house can truly be repaired back to its former glory. And if…

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We know how exciting it is to get the first set of keys to your very own house. But before you get there, you must get past one struggle that is common to most people who want to become homeowners  — the down payment. The mortgage down payment is an essential element in homeownership. It affects a lot of things in a mortgage. The higher the down payment, the more favorable the interest rate becomes. Also, the larger the down payment, the bigger initial equity you build. A down payment needs a fairly big amount of money. In most cases…

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