The Federal Housing Finance Agency (FHFA) has issued new, higher loan limits for 2019. The 2019 Ohio Conventional Loan Limits are These new, higher, conforming loan limits are effective for loans closed on or after January 1, 2019. Homebuyers and homeowners looking to refinance can take advantage of them now, given the estimated 30 day […]
5 Questions To Ask Your Loan Officer
There are some obvious questions to ask your loan officer, such as what is the interest rate? How much is the mortgage payment? How much are the closing costs? There are some other questions that you should ask in addition to the obvious ones. What should I expect during the loan process? Many aspects of the […]
Ohio Conventional Loan Limits Rise in 2017
Ohio Conventional loan limits, the amount you can borrow and remain with a conventional loan, have remained at $417,000 since 2006. That changes in 2017. While the increase isn’t huge, it may help some buyers. The Federal Housing Finance Agency is raising the maximum loan amount that qualifies a mortgage to be purchased by Fannie […]
Ohio Jumbo Mortgage Facts
A Jumbo Mortgage is any home loan that exceeds the conforming loan limit set by the Federal Housing Finance Agency (FHFA). Below are a few facts to assist you when looking for an Ohio Jumbo Mortgage. Ohio Jumbo Loan limits In Ohio the conforming loan limit is $417,000. Any mortgage loan that exceeds this amount will […]
Top 4 Reasons To Buy a Home in Ohio in 2016
Low Rates Contrary to what you may have been led to believe from the nightly news, mortgage rates are still extremely low. The Fed did raise the target funds rate by a quarter-point in December. The first increase since 2006. An increase to the target funds rate does not equal an increase to mortgage rates. […]
New Mortgage Regulations and What They Mean To You
At the beginning of October, the mortgage industry saw one of the biggest changes to closing paperwork become a reality. On October 3rd, the new TILA-RESPA Integrated Disclosures (TRID) became required for all loans. These TRID disclosures combined four forms into two that are easier for borrowers to understand. The two new forms are the […]
Ohio Jumbo Mortgage Loans
A jumbo mortgage is a home loan that exceeds the conforming loan limit, the maximum loan amount that Fannie Mae and Freddie Mac will accept. In Ohio, any mortgage that exceeds $417,000 is considered a Jumbo Mortgage. The mortgage meltdown scared many lenders away from offering Jumbo Mortgages, but now that the economy is recovering […]
