It’s a common misconception that renovation loans are intended ONLY for run-down and dilapidated properties or those in need of repair. The truth is that renovation loans can be utilized for a number of different reasons, including to make upgrades to older homes.
No one knows but at some point the Fed will have to sell off mortgage-backed securities and that will increase interest rates.
The loan limits on Conventional & VA loans were increased from $417,000 to $424,100 on a 1 unit property in Broward, Palm Beach, & Miami Dade Counties.
Foreclosures, short sales, and bankruptcies are set to fall off credit files of 2.5 million consumers between June 2016 and June 2017, according to analysis from Experian.
Being that I am Mortgage Banker that happens to be a Young Professional, I tend to work with a lot of First Time Home Buyers, Millennial’s & Young Professionals. One of the questions that I am constantly asked is “How long after graduation do I need to wait until I can purchase my first home?” or some people tell me that they know that they “Cannot purchase a home because they started their first job only a few months ago”.