Higher mortgage rates and fees are now increased for homebuyers with good credit ratings thanks to a novel governmental rule to subsidize other potential homebuyers with lower credit scores. As part of the Federal Housing Finance Agency’s push toward affordable housing, the fees will affect mortgages secured in private banks across the United States. Homebuyers..
Category: EB Mortgage - page 5
Rental loans, or Debt Service Coverage Ratio (DSCR) loans, are tapered to rental investment properties. The DSCR metric evaluates the rental income, operating expenses, and mortgage expenses to formulate a dollar value. Commercial lenders (private lenders, banks, etc.) typically require a minimum DSCR to qualify for a Loan-to-Value (LTV). DSCR loans provide a personal guarantee..
Homeownership can be both rewarding and daunting, especially for new buyers. If you’re in the market for a new home and aren’t sure what the procedures are, follow these nine steps to help guide you in the right direction. Are you in the market for a new mortgage? Contact the experts at EB Mortgage today..
The housing market is being eyed with heavy suspicion and uncertainty as rising interest rates combined with an unstable housing market and an increase in median sales prices. With the new year comes new questions pertaining to costs, sales, and more. Home values in Michigan have risen by roughly 32 percent in the past two..
By owning your own home, equity allows you to build wealth through time. Homeowners are responsible for maintaining the house after the mortgage closes, but it’s not for nothing. Home equity builds with each payment made towards your mortgage and the value of comparable sales in your neighborhood. Home equity is the value of your..