Mortgage - Jay Jenkins

Highest Mortgage Rates in More Than a Week

If you’re at all tuned in to economic and financial news, you’ve probably heard the the phrase “data dependent” more than a few times recently. It refers to the outlook for the Fed’s monetary policy and interest rates in general. […]

FHA Lowers Mortgage Insurance and VA Has Reduced Funding Fee

FHA has lowered their annual mortgage insurance premium by 30 basis points. What does that mean in real numbers? FHA monthly MI on a 300K loan the current way… $212.50 per monthFHA monthly MI on a 300K loan the […]

Up to $10,000 Community Partners Program

Current or retired law enforcement Officers, firefighters, employees of state-accredited schools, employees of health care systems, first responders, active-duty military members, veterans and their surviving spouses, and C0VlD-related essential workers could receive up to $10,000 toward their down payment of […]

FHFA Suspends Second Home, Investment Loan Limits

The FHFA Suspends Second Home, Investment Loan Limits The Federal Housing Finance Agency (FHFA) and the U.S. Department of the Treasury announced late Tuesday that they were suspending some of the provisions that had been added to the Preferred Stock […]

Huge change that could effect home buyers with student loans!

FHA Changes Policies on Student Debt Obligations FHA will consider potential homeowners’ student debt obligations based on what they actually pay monthly, which will assist the approximately 50 percent of federal student loan borrowers in income driven repayment plans with […]

Mortgage Rates Rising at Fastest Pace in Months

Mortgage rates are coming off a rough week—the roughest, in fact since June 2020 by some measures. That’s the last time rates rose this quickly for market-driven reasons. There were a few instances of bigger moves in Aug/Sep as the […]

Loan Limits Increase for 2021

The Federal Housing Finance Agency announced a new baseline conforming loan limit for Fannie Mae and Freddie Mac in 2021: $548,250. This is a 7.5% increase from 2020’s limit of $510,400 and marks the fifth consecutive year of increases from the FHFA. In 2016, the FHFA increased the […]

Market Minute

RELIEF INCREASE The number of mortgages in forbearance rose over 1% week-over-week according to the Mortgage Bankers Association (MBA). MBA Chief Economist Mike Fratantoni said, “Over 26 million Americans have filed for unemployment over the last month, leading to nearly […]

What determines your interest rate?

While interest rates are still considered “historically low,” you might have noticed that they have been rising slowing over the past year. So, what exactly causes interest rates to fluctuate? We spoke with Mario Gomez, Vice President of Capital Markets […]

Do you know your VA Loan Benefits? Here’s what you need to know about a VA loan

If you’re a veteran, active duty or reserve military member in the United States, you’re probably aware that you’re entitled to a number of benefits. But are you aware of all of the advantages of a VA Loan? It’s a […]