Mortgages

The Federal Housing Finance Agency (FHFA) has announced new 2022 conforming loan limits for conventional loans. The baseline conforming loan limit for 2022 will be $647,200, up $98,950 from 2021’s limit of $548,250. That is a record-high increase of 18% based on the FHFA House Price Index. In higher-cost areas, the new loan limit increases

Out of all the mortgages out there, a 15-year mortgage will likely save you the most amount of interest expense. 15-year mortgage rates are almost always lower than 30-year fixed mortgage rates. However, the absolute payment is usually larger given the shorter amortization period (15 vs. 30 years). But the big benefit of the mortgage

The beauty of an economic downturn is cheap credit. And when there is a global pandemic, mortgage rates tend to go dow. As a result, every homeowner should be refinancing their mortgage right now as rates hover near all-time lows. Here are some home mortgage refinancing tips from someone who has refinanced many times. Since

The ideal mortgage amount was $1,000,000 before the Tax Cut & Jobs Act was passed in 2018. Today, the ideal mortgage amount is $750,000, if your income can afford it. Assuming you put down 20%, a $750,000 mortgage means you’re buying a $937,500 house The reason why $1,000,000 was ideal was because that was the

If you’re focused on paying off your mortgage, good for you. It’s generally always good to pay down debt. However, I’d also like to share with you the biggest downside to paying off your mortgage that may surprise you. It’s been nine years since I paid off my rental property mortgage. It was a mortgage

If you are coming here from my newsletter, I meant to link to this post instead: The Ideal Length To Hold Onto Your Mortgage. So go check that one out first, but you might as well read this one too. This post will teach you how to get the lowest mortgage interest rate possible to