2018 Conventional Loan Limit Arizona | $453,100

It is official!  2018 Conventional Loan Limits increase for the 2nd year in a row.  Starting on January 1, 2018 the new maximum Conventional Loan limit for Maricopa County is $453,100.  This is also the new maximum Conventional loan limit for all non high cost areas of the United states for 2018.In addition, VA maximum loan limits have increased for 2018 based on the fact that VA maximums follow Conforming Maximum limits set by the FHFA. In 2017, FHA announced their max loan limit increase … [Read more...]

Cash Out Refi to Consolidate Student Loans

Every college graduate wants student loan payments to disappear.  However, unless you know David Copperfield, they aren't vanishing anytime soon. A cash out refinance is the next best option to make student loans disappear.Apply for a Home Loan Team@JeremyHouse.com 602.435.2149Learn more: deferred student loans and home loan approval Cash Out Refinance to Pay Off Student Loans Graduates with enough equity in their home can use that equity to pay off their student loans. This type of … [Read more...]

No Appraisal for Conventional Purchase Home Loans

Every once in a while, wouldn't it be great to just skip the whole appraisal process?  Maybe not every loan, but a break here and there would make lending simpler.  Well, finally the time has come!  As of Sept, 2017 appraisal waivers are allowed on Conventional home loans (see below for eligible scenarios).Apply for a Home Loan Team@JeremyHouse.com 602.435.2149 What is an Appraisal Waiver? In short, appraisal waivers are like a fast pass at Disney World!  They allow mortgage lenders to … [Read more...]

No Seasoning Cash Out Home Loan

Savvy buyers often pay cash for a property for a number of reasons.  Cash purchases provide price leverage.  Also, they tend to be more attractive than competing financed offers.  However, paying cash ties  up liquid resources and limits an investors ability to leverage.  Finally, there is a solution to this common conundrum.Apply for a No Seasoning Refinance Team@JeremyHouse.com 602.435.2149 No Seasoning Refinance Cash-Out First of all, home-buyers must typically wait out a long 6 month … [Read more...]

Home Loan Rules Eased

Debt to income ratio limits are now higher than before.  In addition, many self employed borrowers are able to get away with just 1 years' tax returns.Why you ask?  Fannie Mae relaxed their self-employment and debt to income ratio requirements in July of 2017. Debt to Income Ratio Max to Loosen Prior to the July 2017 change Fannie Mae and Freddie Mac allowed certain home loan applicants to go up to a total debt to income ratio of 50%.  Borrower had to posses strong qualifying … [Read more...]