It makes sense that the mortgage industry would see its best quarter in history during a global pandemic. Okay, it doesnât make sense, but thatâs what happened anyway, per the latest Mortgage Monitor report from Black Knight. Mortgage Lenders Originated $1.1 Trillion in Home Loans During the Second Quarter Mortgage lenders experienced best quarter in [&hellip
The post Mortgage Lending Volume Hits Highest Level on Record Despite COVID-19 first appeared on The Truth About Mortgage.
Similar to the increased waiting times to get a COVID-19 test these days, itâs taking an extended amount of time to get a mortgage to the finish line. The reason is simply unprecedented demand, just like those COVID-19 tests. The more people that need one, the longer the wait, period. This is the downside to [&hellip
The post Itâs Taking a Really Long Time to Get a Mortgage Right Now first appeared on The Truth About Mortgage.
Thanks to another year of stellar home price appreciation, the 2021 conforming loan limit will increase to $548,250, per the Federal Housing Finance Agency (FHFA). This is the maximum loan amount for mortgages that can be acquired by Fannie Mae or Freddie Mac, known as conforming mortgages. The figure is up from $510,400 for mortgages [&hellip
The post 2021 Conforming Loan Limit Rises to 8,250 first appeared on The Truth About Mortgage.
You may have heard thereâs a ânew mortgage fee.â And you might have been told to hurry up and refinance NOW to avoid said fee. While there is some truth to that, it is by no means a reason to panic, nor is it even applicable to all homeowners. Additionally, itâs possible it may not [&hellip
The post Beware the New Mortgage Fee Fearmongering first appeared on The Truth About Mortgage.
The leading wholesale mortgage lender in the nation has brought the heat once again, this time offering 30-year fixed mortgage rates below 2% on FHA loans. United Wholesale Mortgage announced that borrowers can now lock in interest rates as low as 1.99% on FHA-backed loans via its popular Conquest program. The new Conquest for FHA [&hellip
The post United Wholesale Mortgage Now Offering FHA Loans with Rates Below 2% first appeared on The Truth About Mortgage.