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
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
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
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
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
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
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
Most people want to obtain the lowest rate possible and although it may make good sense emotionally, it doesn’t always make sense financially. What I am going to write here is whether or not it makes sense financially and exactly … Read More
One of the major hurdles many consumers will find themselves in if they haven’t already is the erosion of their credit scores. This is largely due to the COVID-19 pandemic. With the loss of jobs and income, unfortunately, this problem, … Read More
The qualifying FHA loan Florida guidelines for a single-family home are the same nationwide however because the loan limits are determined by the county in which you are purchasing the home, they vary. The professional loan officers at 7th Level … Read More