The term “conforming” refers to a loan that complies with the criteria set forth by Fannie Mae or Freddie Mac. Government-sponsored companies Fannie Mae and Freddie Mac buy mortgages from lenders and offer them to investors. As a result, lenders have more money to place more suitable purchasers in homes. Jumbo loans, which are mortgages …
It’s grown more and more common in real estate to convert an older house into a gorgeous, contemporary version before selling it. Many house purchasers are drawn to gleaming new homes. To avoid unpleasant surprises during the real estate transaction, it’s advisable to familiarize yourself with the FHA flipping rule if you’re interested in using …
One of the most significant choices you’ll have to make when buying a home is the type of mortgage you’ll use to finance your ideal home. If your home loan research results in a 30-year fixed-rate mortgage, don’t be shocked; this is the most common type of mortgage. But what exactly is a 30-year mortgage, …