Blog

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 →

Rate Shopping, Good or Bad?

Understanding rate shopping can save you tens of thousands of dollars. Yes, you read that correctly! That’s why so many home buyers take the extra time to shop around before deciding on a lender to work with.  We’ll use this article to help you understand the rate shopping world and why it’s worth your time and energy.  Rate Shopping Basics Let’s start by talking about the basics. What is rate shopping?  The short answer is it’s the process of talking to multiple lenders to get the best rate possible.You know that even a…continue reading →

2022 Conforming Loan Limits – Big Jump for Fannie and Freddie Loans

2022 Conforming Loan Limits for mortgages to be acquired by Fannie Mae and Freddie Mac took a big jump to $647,200, an increase of $98,950 from $548,250 in 2021. But that's just the national baseline. 2022 High Balance loan limit ceiling in some high-cost counties for one-unit properties will be $970,800, a big jump from $822,375 in 2021. Here's a map showing 2022 Conforming Limits across the U.S. As you can see from the map above all the counties in the US will have a minimum (baseline) loan limit of $647,200. Some high-cost counties…continue reading →

How to Choose a Real Estate Agent

Need to choose a real estate agent? Your agent will be your partner throughout the whole process - you want to make sure you hire a great one! Here are the most important things to keep in mind as you make your choice.    Choose a Real Estate Agent After Interviewing a Few Do you think it would be a good idea to buy the very first home that you see on the market? Probably not, right? It makes sense to look around. Even if you really like the first house you see,…continue reading →

MortgageBlog.com Named to Top 100 Mortgage Blogs in the World

MortgageBlog.com has been named to the Top 100 Mortgage Blogs in the World, by Feedspot. The blog ranked #27 on the list of best mortgage blogs in the world. The list is dominated by blogs and websites in the US, UK, Canada, and Australia. The list features single-author websites like mortgageblog.com authored by your's truly, multi-author websites like The Mortgage Report, company websites like Better and Movement Mortgage, and major media websites like CNBC and National Mortgage News. Mortgage Blog has been regularly publishing articles on the topics of home buying and refinancing…continue reading →

How to Buy a Home with Student Debt

Buying a home with student loan debt can be tricky. While a lot of people consider student loans “good” debt, it is still something that the credit bureaus consider as they calculate your credit score. It also plays into your debt-to-income ratio, which is important for getting a mortgage.    Don’t let that scare you away though. Here’s everything you need to know about how to buy a home with student debt.    Improve Your Credit Score Your first step is to get preapproved for your mortgage. This is where a lender will…continue reading →

What are the consequences if you miss the closing date?

The mortgage application process can be time-consuming and frequently prone to delays due to a variety of reasons. However, as the closing date approaches, there is a sense of relief and eager anticipation. The buyer, seller, and their real estate agents will meet, sign the purchase contract and other necessary paperwork to complete the home sale. Typically, buyers have 30 to 45 days until the closing date. Buyers will undergo an inspection and finalize financing with their lender during this period. When you miss a closing date, you may suffer a penalty from…continue reading →

How to Prepare to Buy Your First Home in 2022

In this post, I will cover everything you need to know about buying your first home including how to prepare to buy your first home in 2022. My book - My First Home was a #1 best-seller on Amazon.com and I have personally helped hundreds of First Time Home Buyers prepare to buy their first home. First Step - Choose the Right Loan Officer/Lender The first step of preparing to buy your first home in 2022 is to find the right loan officer and lending company. You should look for a Loan Officer…continue reading →

The 5 Home Loan Steps

The mortgage loan process can be intimidating. This is the biggest purchase of your life - you want to make sure it all goes smoothly, right? The good news is that it’s pretty simple. We’ve broken the home loan process down into five main steps.  Mortgage Loan Process Step 1: Get Pre Approved When you’re in the market to buy a home, the first thing you need to do is understand how much home you can afford. While you can use something like a mortgage calculator, you ultimately need to get pre-approved by…continue reading →