VA Cash Out Refinance
Photo Credit Pexels With rates at all-time lows and loan limits on the way up, now would be the best time for a veteran who needs to upgrade his or her home, pay off high-interest credit card debts, or just … Read More
Conventional Loan Limits – Changes Afoot for 2022
Between the pandemic, the limited inventory, and rates at very lower levels, 2021 is and continues to be a challenging year for people buying a home. Because of the rise in home prices, many buyers waited too long to buy … Read More
What Are the FHA Loan Income Requirements For 2022?
posted in: Mortgages
Almost anyone who wants to buy a home is able to, thanks to a variety of mortgage programs available for different types of borrowers. Even those who can’t fathom saving up a 20% down payment can still purchase a home … Read More
The Conforming Loan Limit will Increase on January 1, 2022
Newsflash! Conforming Loan Limits are $625,000 beginning on January 1, 2022!! Many people are paying on mortgages that fit the guidelines of being jumbo loans. Starting on January 1, 2022, the new loan limit is $625,000 instead of the 2021 … Read More
Part 2: Cash-Out Refinancing Conforming vs. FHA
posted in: Mortgages
Photo Credit Pexels Because of the changing rules regarding cashing out equity in your home, the purpose of this blog is to show you the difference between a FNMA, Conforming cash-out refinance scenario and one that is covered by the … Read More
Cashing Out Equity and Lowering Your Rate
posted in: Mortgages
Photo Credit Pexels Many years ago, when I was a loan officer, clients would call in about an advertised rate because they wanted bragging rights that they lowered their rate by perhaps 1 point. The purpose of this blog is … Read More
Home Equity Conversion Mortgages
posted in: Mortgages
One type of reverse mortgage is the home equity conversion type. Under the rules, you must meet with a HECM counselor because there are eligibility requirements that must be met. The loan officers at 7th Level Mortgage will provide you … Read More
What Pennsylvania Properties Qualify for an FHA Loan?
posted in: Mortgages
In Pennsylvania, the demand for homes is higher than ever. If you’re looking for affordable mortgage options, FHA financing may be a good fit for you. An FHA loan comes with several perks, including lower down payment requirements, and this … Read More
A Professional Overview of Reverse Mortgages
posted in: Mortgages
Photo Credit Pexels Most of us will get to age 62 and will have expenses that earlier in life we didn’t have. Rising medical costs, a drop in income due to retirement or disability, or repairs to the home are … Read More
Heirs’ Rights and Responsibilities in Reverse Mortgages
posted in: Mortgages
Photo Credit Pexels Many people that have a reverse mortgage always ask the question what are the rights and responsibilities my children or heirs have regarding the reverse mortgage upon their passing on. Many people that are retired have obtained … Read More