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2022 CONFORMING LOAN LIMITS FOR SOUTH CAROLINA (SC)

2022 Conforming Limit South Carolina counties is $647,200 and for 2-unit properties is $828,700. See below the list of all 2022 Conforming Limit South Carolina counties for 1, 2, 3, and 4 Unit properties. 2022 Conforming Loan Limits for Abbeville County 1  Unit – $647,200 2 Unit – $828,700 3 Unit – $1,001,650 4 Unit – $1,244,850 2022 Conforming Loan Limits for Aiken County 1  Unit – $647,200 2 Unit – $828,700 3 Unit – $1,001,650 4 Unit – $1,244,850 2022 Conforming Loan Limits for Allendale County 1  Unit – $647,200 2 Unit – $828,700…continue reading →

2022 CONFORMING LOAN LIMITS FOR OHIO (OH)

2022 Con forming Limit Ohio counties is $647,200 and for 2-unit properties is $828,700. See below the list of all 2022 Conforming Limit Ohio counties for 1, 2, 3, and 4 Unit properties. 2022  Conforming Loan Limits for Adams County 1  Unit – $647,200 2 Unit – $828,700 3 Unit – $1,001,650 4 Unit – $1,244,850 2022 Conforming Loan Limits for Allen County 1  Unit – $647,200 2 Unit – $828,700 3 Unit – $1,001,650 4 Unit – $1,244,850 2022 Conforming Loan Limits for Ashland County 1  Unit – $647,200 2 Unit – $828,700…continue reading →

How Mortgage Interest Works

Knowing how mortgage interest works is pretty important when you buy a house. Your mortgage rate is one of the main things that determine how much you’ll be paying every month towards the home.    So how exactly does it work? Let’s take a look.    How Mortgage Interest Works - The Basics As you probably already know, very few people pay with cash when buying a home. A mortgage just makes sense because it lets you borrow money at relatively low-interest rates.    The interest rate is there so the bank can…continue reading →

2022 CONFORMING LOAN LIMITS FOR NEW JERSEY (NJ)

2022 Conforming Limits New Jersey is $647,200 and goes up to $970,800 for high-cost counties for one-unit properties. 2022 Conforming Limits New Jersey for 2-unit properties is $828,700 and goes up to $1,243,050 for high-cost counties. 2022 Conforming Loan Limits for Atlantic County 1  Unit – $647,200 2 Unit – $828,700 3 Unit – $1,001,650 4 Unit – $1,244,850 2022 Conforming Loan Limits for Bergen County 1  Unit – $970,800 2 Unit – $1,243,050 3 Unit – $1,502,475 4 Unit – $1,867,275 2022 Conforming Loan Limits for Burlington County 1  Unit – $647,200…continue reading →

2022 CONFORMING LOAN LIMITS FOR NEVADA (NV)

2022 Conforming Limit Nevada counties is $647,200 and for 2-unit properties is $828,700 See below the list of all 2022 Conforming Limit Nevada counties for 1, 2, 3, and 4 Unit properties. 2022 Conforming Loan Limits for Carson City 1  Unit – $647,200 2 Unit – $828,700 3 Unit – $1,001,650 4 Unit – $1,244,850 2022 Conforming Loan Limits for Churchill County 1  Unit – $647,200 2 Unit – $828,700 3 Unit – $1,001,650 4 Unit – $1,244,850 2022 Conforming Loan Limits for Clark County 1  Unit – $647,200 2 Unit – $828,700 3…continue reading →

Sink or Swim, Locking vs. Floating Your Mortgage Rate

Does locking your mortgage rate make sense? Or should you have a floating rate so you can take advantage of a rate drop?   Here are a few things to keep in mind as you weigh your options. But first, let’s talk about what these terms mean.    Locking Your Mortgage Rate vs. a Floating Rate When you apply for a mortgage, the lender will ask you early on if you want to lock in your rate. They’re essentially saying you can finalize the interest rate you’re willing to pay. From that point…continue reading →

Can a Mortgage Include Renovation Costs?

Buying a home is a big deal. Buying a fixer-upper that needs renovations is an even bigger deal. The question is, can a mortgage include renovation costs so it doesn’t have to come out of your pocket right now?    The short answer is yes - there are actually a few options you have available.    Mortgage Renovation Loan #1: Fannie Mae Homestyle Renovation  This type of renovation mortgage offered by Fannie Mae was created to help lenders have more options to offer their potential clients. Because so many people are renovating their…continue reading →

Are Mortgage Rates Still Low?

The last two years have been crazy in the real estate market. Low mortgage interest rates made it a fantastic time to buy a house. The question is - are mortgage rates still low?   Let’s look at the past, the present, and what is expected to happen over the next few months. That’s the best way to understand where we are right now.    Mortgage Rate History Since we just got out of November, let’s use that as our benchmark. According to FreddieMac here are the average rates we’ve seen over the…continue reading →

2022 FHA Loan Limits Makes a Big Jump

2022 FHA Loan Limits - both “floor” and “ceiling” loan limits will increase from $356,362 and $822,375 in Calendar Year 2021 to $420,680 and $970,800 in CY 2022, respectively, for a one-unit property. These limits are applicable to loan applications taken between January 1, 2022, to December 31, 2022. Low-cost Area 2022 FHA Loan LimitThe FHA national low-cost area mortgage limits, which are set at 65 percent of the national conforming limit of $647,200 for a one-unit Property, are, by property unit number, as follows:One-unit: $420,680Two-unit: $538,650Three-unit: $651,050Four-unit: $809,150 High-cost Area 2022 FHA…continue reading →