BREAKING NEWS! FHFA increases conforming loan limits for a 2nd straight year Loan limits to match rising home prices On Tuesday, the Federal Housing Finance Agency (FHFA) that the maximum conforming loan limits for mortgage to be obtainedce in 2018. The 2018 maximum conforming loan limit for [...]
How Do You Shop for Rates? The top tools for mortgage shopping Over the years, shopping for a mortgage has become better than ever. Purchasing a home is more accessible online and mobile, which makes the process more fitting for those of us looking for our dream home. Valley West Mortgage is here [...]
Buying a house is not something you should do without some good financial knowledge and advice. Your first mortgage should be thoroughly thought out and well planned. Now that you’re thinking of purchasing a home, use the next 12-18 months or so to prepare yourself. Prepare Your Credit Early [...]
A Good Faith Estimate is an estimate of all of your closing costs when purchasing or refinancing a home loan. Your Good Faith Estimate (or GFE) will give you a ball park figure of what rate your loan will be locked at and a rough estimate of what your monthly payments will be. Federal regulations [...]
Your debt to income ratio or DTI, is a figure that allows a lender to analyze your monthly spending habits. They use your DTI to determine how you manage your money. You want your debt to income to be as low as possible to ensure that your chances of being offered a lower rate is better. How much [...]
In the last 8 years, reviews have become one of the major deciding factors in choosing whether to use a company and their services. Five great examples of service based review websites include Yelp, Angie’s List, Zillow, Lending Tree and obviously Google. In the mortgage and real estate [...]
Lender Paid Mortgage Insurance (LPMI) is a type of insurance used for borrowers who cannot afford to make a down payment that is at least 20% of the total loan amount needed for the house you want to buy. Despite the catchy name, Lender Paid Mortgage Insurance is not exactly paid by the lender. It [...]
Anyone who may be looking to purchase a new home or refinance their current home should have a thorough education on certain aspects of the mortgage industry. No one wants to make an uninformed decision, especially when it comes to making such an important financial investment. First thing’s [...]
The time to finance a home for the best rate could be now, as mortgage rates across the country have reached a low over the last 16 months at 4.12 percent, according to Freddie Mac. This number is quoted for a 30-year fixed rate conventional mortgage, and since Jan. 1, people have been finding [...]
Las Vegas – It’s going to happen again and again and Valley West Mortgage will keep reporting on it. Rates keep getting lower and lower. That couldn’t make us any happier. Please Note: The actual interest rate you were quoted last week will have changed this week. Based on raw [...]