The Federal Housing Administration (FHA) is a government agency that provides mortgage insurance to borrowers who might not otherwise qualify for a traditional mortgage. In the past, the FHA had a system called the Mortgage Credit Reject (MCR) list, which was used to track borrowers who had been denied an FHA loan. This list was… Continue reading The FHA Reject List is No Longer Used: What Does This Mean for Buyers?
Introduction In the ever-evolving landscape of the real estate market, there’s a crucial factor that often dictates the pace of transactions and influences buyer behavior: interest rates. As the economic pendulum swings, prospective home buyers find themselves in a precarious situation, assessing whether to make the leap into homeownership or wait for more favorable conditions.… Continue reading The Waiting Game – Home Buyers and Interest Rates
VA Funding Fee: What You Need to Know The VA funding fee is a one-time fee that borrowers pay when they take out a VA loan. The fee helps to offset the cost of the VA loan program, which offers competitive interest rates and more flexible terms than traditional mortgages. Why is There a VA… Continue reading VA Funding Fee: What You Need to Know