FHA LOAN LIMITS Increased to $420,680 in 2022 Up from $356,362 in 2021 The Federal Housing Administration (FHA) just announced an increase of the FHA loan limits for 2022.The loan limit for one-unit properties will rise to $420,680 in most parts of the country, up from $356,362in 2021. Loan limits are also increasing in high-cost…
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Why choose a one-time close construction loan and what options are available to you? A one-time close construction loan is a viable option for borrowers when they need to provide the builder with initial and interim financing for construction. This product has a single closing to save you on closing costs from having multiple…
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15 vs. 30: Two reasons some people take on a 15-year mortgage The primary difference between a 30 year mortgage and a 15 year mortgage is simply the length of the loan. One amortizes over 30 years, the other over 15. (Wikipedia says that an “amortizing loan is one where the principal is paid down…
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Working with your local independent mortgage broker has its benefits. One of which is access ground breaking products and exciting enhancements ahead of the big banks. We are proud to announce that we are currently accepting applications for conventional loans using the new increased loan limits to be set soon for 2022. Effective immediately Northeast…
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Navigating both low and no money down payment programs can be difficult and often confusing for new and experienced home buyers. Here at Northeast Financial LLC we have several options available to the public. Are you a veteran that serviced for our armed forces? If so ask us about our 100% VA Financing for both…
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The Department of Veterans Affairs has created mortgage programs designed specifically for military personnel, veterans, and surviving spouses of those who have so valiantly served our country. VA mortgage programs are among the most important benefits available to our military! PROGRAM HIGHLIGHTS ■ 10-, 15-, 20-, 25-, and 30-year fixed rates available ■ Up to…
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In most cases, an appraisal is required to buy or refinance a home. The appraisal protects you and your lender from paying for or financing a home for more than it’s worth. Your appraisal takes place once your application is filed and your initial documentation is reviewed. We’ll take care of placing the order for…
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Today’s market can be tough. Buyers need to act fast, be prepared, be educated and have a plan. If you are too slow or don’t know what to do, you may lose the house of your dreams. The first step should always be having that pre approval letter. I can help you with this.…
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Many home buyers are new to the process of buying a home and we put together a guide of what to expect when applying for a mortgage. Do I need a pre-approval? A pre-approval is the first step when buying a home. You may find a home online that you would like to view,…
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Individuals who are not so savvy to homeownership may face some confusion when paying their first couple mortgage statements. They first may be skeptical about why their statement not being serviced by the same financial institution that they signed so many documents with. Well… that’s not so abnormal. The truth is, most mortgages are sold…
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