What is the difference between getting a loan recast versus a refinance? Watch the short video above to find out.
FHFA Announces Conforming Loan Limit Values For 2023
The Federal Housing Administration (FHFA) has published the 2023 Nationwide Forward Mortgage Loan Limits. These limits are effective from January 1, 2023, through December 31, 2023. Viewpoint Financial has been implementing these new loan limits since October 2022.
FHFA Changes Adjustments For First-Time Homebuyers
The loan costs of some first-time borrowers are about to drop. The FHFA announced targeted changes to Fannie Mae and Freddie Mac's guarantee fee pricing by eliminating upfront fees for certain borrowers and affordable mortgage products. The four groups of borrowers that may see their upfront loan fees eliminated are:
Hidden Keys To A Smaller Mortgage Payment for Your Clients
Did you know that a seller concession (A seller concession is a portion of the buyer's closing costs and prepaid expenses that the seller agrees to pay for, lowering the overall upfront costs for the buyer) can mean a smaller mortgage payment for buyers?
We Can Help Your Investor Clients Use You For Their Next Purchase
Do you have investor clients, or are you looking to approach investors? If you said yes, then we have a new tool to help in the process of closing that new relationship.
Secure With Cash
We all know that interest rates have risen recently and that this can make a home purchase more expensive. Viewpoint Financial is very excited to announce a program that can help offset rising rates, by allowing a buyer to submit more competitive cash offers (which can secure large discounts in this environment). Secure with Cash will allow a cash offer on homes so the buyer can win the right home at the right price!
Low-Cost Safety Net In Case Of A Recession
Simply as a precaution, it might be prudent to allow us to put in place for you a Home Equity Line of Credit (HELOC). This credit line will have a starting interest rate tied to the current prime rate of 4.75% (plus a Margin);
HECMs Can Be More Attractive in the Age of Inflation
This is a daunting time to retire: In the age of inflation, there are steps you can take to deal with higher prices. MarketWatch recently talked with several financial planners about how seniors may need to adjust retirement plans given today’s inflation challenge. They offer some excellent tips, including how a HECM may benefit from inflation.
VA Cash-Out Is Now Allowed To 100% LTV
Have you heard? The VA cash-out is now allowed to be 100% LTV. These loans can be used strictly as cash at closing to pay off debt, make home improvements, and pay off liens. The cash-out refinance loan can also refinance a non-VA loan into a VA loan. VA will guarantee loans up to 100 percent of the value of a veteran home.
Have You Heard About the CalHFA Forgivable Equity Builder Loan?
Have you heard about the CalHFA Forgivable Equity Builder Loan (FEBL) program? It’s meant to help build home equity and generational wealth for those in need. Some of the requirements for the loan are:
Fannie Mae and Freddie Mac Desktop Appraisals
A desktop appraisal may be obtained in lieu of an interior and exterior inspection appraisal if the loan and the subject property meet Freddie Mac or Fannie Mae requirements, which include but are not limited to the following:
Rates Will Begin To Rise
Mortgage rates had been drifting modestly higher in general in the past 2 weeks, but the pace is accelerating in the new year. The net effect is an average conventional 30yr fixed rate that is now in the low 3 percent range (3.125% to 3.375%). For most of the past 2 months, the range has been in the high 2 percent range (2.750% to 2.999%).
The New FHA Loan Limits For 2022
The Federal Housing Administration (FHA) has published the 2022 Nationwide Forward Mortgage Loan Limits. These limits are effective from January 1, 2022 through December 31, 2022. Viewpoint Financial Home Loans has been implementing these new loan limits since October 2021.
See How the 10-year Treasury Yield, 30-year Fixed Mortgage Rate, and Inflation Rate are All Tied to One Another
Graph of inflation rates since 1972.
History shows us that rising inflation causes the 10-year Treasury yield to drift up as investors buy stocks instead of bonds. Particularly, higher inflation erodes the return that the investor of a bond or loan is holding over time and bonds are not any more attractive to investors. This in turn makes bond values go down and yields rise. Consequently, mortgage rates move upward as they are tied to the 10-year Treasury yield.
4 Important Ways to Vet a Builder Before Buying New Construction
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Do you have clients looking to buy a brand-new home? Here are some important tips to help make sure you've chosen the right builder to work with.