Loan limits to increase for conventional, FHA, and VA mortgages Like an early Christmas present, Fannie Mae, Freddie Mac, FHA, and VA have all announced increased mortgage limits for South Carolina and the rest of the country. The increase will go into effect for all VA and conventional loans closed after January 1 and for […]
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With rates rising somewhat over the past few months, many borrowers have inquired about Adjustable Rate Mortgages, which offer lower rates than the 30 year fixed products . Here, I’ll discuss the advantages and pitfalls of ARM’s. What are the advantages of an ARM compared to a fixed rate? The single advantage of an […]
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The USDA mortgage program continues to be available to many borrowers in the upstate, and can be an excellent choice of loan programs providing the borrowers and the property meet the requirements and guidelines for the loan. Here, I’ll discusses the various aspects of the program. I have heard of RDA loans, but not […]
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Since WW II, the federal government has provided a mortgage loan benefit for those who have served in the U.S. armed forces called VA Loans. Originated under the GI Bill, this program is generally referred to as a VA (Veteran’s Administration) loan. It has several advantages over other loan programs and has its own unique […]
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With interest rates again touching on 70+year lows, many homeowners are considering refinancing. Mark Wells at Preferred Financial addresses the often-asked question of whether a 15-year mortgage is better than a 30-year mortgage.
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