Mortgage Rate Predictions for 2022

The past couple of years has been nothing short of unpredictable, thanks to the effects of a global pandemic that persisted longer than most believed possible. Fortunately, as vaccinations continue and covid-related hospitalizations decline in most areas, life as we knew it before 2020 is slowly returning.  Unfortunately, the rebounding economy has been tainted by…

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Understanding Underwriting and the Loan Approval Process

The role of an underwriter is crucial in the mortgage industry. In the simplest terms, underwriters examine your finances to determine the level of risk a lender would be taking on in granting you a loan.  Though perhaps overwhelming at first glance, understanding how the underwriting process and loan approval works can be an excellent…

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Using a Bridge Loan to Buy Your Second Home

When current homeowners decide they’re ready to buy a new home, it can be for many reasons. They may need more space due to a growing family, or they may be empty nesters looking to downsize. Whatever the reason, many homeowners get stuck thinking they must first sell their current home in order to afford…

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What the 2022 Conforming Loan Limits Mean for You

Last week, the Federal Housing Finance Agency (FHFA) announced its conforming loan limits for 2022. The new maximum borrowing amount for conventional loans for most of the country will be set to $647,200—a record-breaking 18% increase from the 2021 loan limit. These new loan limits combined with the current near-historically low interest rates create an…

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Buying a Rental Property in 2022

Buying a rental property can be a great investment and perhaps even a source of income. A home’s value typically appreciates over time, so in addition to collecting monthly rent payments, you stand to make a profit should you ever decide to sell the property. However, buying a rental property is a major financial (and…

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