Thanks to another year of stellar home price appreciation, the 2021 conforming loan limit will increase to $548,250, per the Federal Housing Finance Agency (FHFA). This is the maximum loan amount for mortgages that can be acquired by Fannie Mae or Freddie Mac, known as conforming mortgages. The figure is up from $510,400 for mortgages [&hellip
The post 2021 Conforming Loan Limit Rises to 8,250 first appeared on The Truth About Mortgage.
Mortgage rates can be pretty volatile. Just like stocks, they can change daily depending on whatâs happening in the economy. Beyond that, mortgage rates can move based on news that doesnât involve a report on the economic calendar, such as a jobs report, GDP, housing starts, inflation, etc. Even if there isnât a direct financial [&hellip
The post Mortgage Rates vs. the Coronavirus: We Might Test New All-Time Lows first appeared on The Truth About Mortgage.
The Department of Veterans Affairs (VA) has proposed a new loss mitigation method to help homeowners with VA loans in COVID-19 related forbearance get back on track. The new program, known as the COVID-19 Veterans Assistance Partial Claim Payment program, or COVID-VAPCP for kind of shorter, somewhat mirrors existing programs offered by the FHA and [&hellip
The post Partial Claim May Be Option for VA Borrowers Exiting COVID-19 Forbearance first appeared on The Truth About Mortgage.