What is the Difference Between Fannie Mae and Freddie Mac?
Most people have heard of Fannie Mae and Freddie Mac, and usually in conjunction with one another. And if you have ever received a home loan, it is highly likely that your loan is or was owned by one of these two government-sponsored enterprises. Fannie Mae and...New “Refinance Fee” has Resulted in Higher Interest Rates. Here’s What You Can Do:
Fannie Mae and Freddie Mac instituted a “refinance fee” of .5% in a surprise move last week. No one in the industry had any idea or warning that this was going to be implemented overnight. So this means that if you want to refinance, your loan will now...Coronavirus and Forbearance Agreements
As part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the government has stipulated two important allowances in regards to your mortgage. Firstly, there is a moratorium on foreclosure proceedings, and secondly, you have the right to a forbearance...Can I Buy a House for my Parents?
Yes, you can! And in many cases, at least in the program that I am highlighting here, it is treated as an owner-occupied loan, even though your parents will be the ones living there. This means you get a better interest rate and qualify for lower down payment...What Are Typical Fees Associated with a Refinance?
It’s very important to assess the cost of buying and refinancing. Fees depend on the purchase price and on the loan amount. Since total cost on a purchase depends on the city and county you are buying in, as well as what is negotiated with the seller, I will do a...Loan Calculator
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