Has your home been on the market long? Do you feel like selling your home is an insurmountable task? Selling your home can feel hopeless the longer your property sits awaiting a buyer. As sellers struggle to attract buyers, they are confronted with ideas like price slashes or full remodels to sell to their homes. …
Category: Mortgage News
Mortgage Interest Rates Begin Their Ascent. But Is It Enough?
Are rising mortgage interest rates enough to cool a heating market? Will housing inventory make a rebound? Your Spring 2021 update.
Fannie Mae and Freddie Mac Define COVID-19 Forbearance Repayment Options
We previously talked about Forbearance as an option for anyone negatively impacted because of COVID-19. Forbearance is one of the most common options for those who cannot make their mortgage payments on time. Typically, once a loan is out of the agreed timeframe of forbearance, the borrower is expected to pay a “balloon payment,” or …
VA Appraisal Update: COVID-19
The Veterans Affairs office has made adjustments to the way VA Loans can now be done in these uncertain times.
New appraisal and origination requirement changes announced due to COVID-19
Special measures have been taken to help account for challenges facing the real estate market due to COVID-19. Here are the temporary flexibilities in place to facility the continuation of transactions for buyers.
2019 Summer Market Update With Jim McMahan: Is it a good time to refinance?
In this video, Jim McMahan, President of Benchmark Mortgage, talks about the market, interest rates, and debt strategy to help you decide whether refinancing might be a good option for your financial goals.
Benchmark and The Patriot Tour by Team Never Quit
Benchmark Mortgage is proud to announce our partnership with Team Never Quit. This year, we will be hitting the road with the 2018 Patriot Tour! Our Team is proud to have changed the way VA lending is done, and we take a “never quit” attitude with our veterans and their dreams. NO MORE will the …
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Mortgage Applications Rise 4.1% According to Most Recent Data
The Mortgage Bankers Association reported a 4.1% increase in mortgage applications from the prior week. Steve Remington, Benchmark’s Chief Operations Officer, noted that the increase in applications could be a consumer response to the recent trend in the market, indicating a shift from the prolonged period of low interest rates. “Mortgage Bankers Association Data indicates …
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HUD Announces New FHA Loan Limits
Yesterday, December 7, 2017, the Federal Housing Administration announced that for 2018, 3,011 out of 3,141 counties in the U.S. (~96% of all counties in the nation) will see an increase in FHA loan limits. Ceilings and Floors In high-cost areas, the FHA’s loan limit ceiling will increase this year to $679,650, up from $636,150, …
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Conforming Loan Limits Set To Increase For 2018
Last year, the conforming loan limit was set to increased to $424,100 for this year (2017). Now, most of the United States will see an increase for single unit properties to $453,100 for 2018. The HERA (Housing and Economic Recovery Act) indicates that the baseline conforming loan limit should be adjusted with the change in …
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