2024 Jumbo Loan Limits

2024 Jumbo Loan Limits

The new 2024 conforming loan limit for all of Massachusetts, New Hampshire, and Maine are out. These conforming programs are for 30-year fixed-rate mortgages which offer low downpayment options, first-time home-buyer benefits, and the strength of Fannie Mae and Freddie Mac’s low interest rate pricing.

Reverse Mortgage Alternatives

If you have some stream of income and your credit is still intact, we can now take a look at comparing a reverse mortgage against a forward mortgage. While these two product types are not a perfect overlay of each other, one can function as the other if you’re willing to make some concessions on the absolutes of each program.

Adjustable Rate Mortgage ARM

I debrief ARMs in detail on our website: ARM Debrief. But am compelled to write to you today based on the ludicrous volume of advocacy for the ARM as a workaround to the rate increase of the Fixed Mortgage.

2023 Jumbo Loan Limits

Yes – from $647,200 to $715,000 available immediately and into 2023. There aren’t too many financial topics where inflation is considered a good thing. Taxpayer income brackets, I-Bonds, Social Security indexing, and Cost-of-Living (pay) increases are a few that come to mind.

Guaranteed Payments to Partners Mortgage

You’ve just been made a Partner at your firm. Congratulations. Because you can now truly afford it, you opt to purchase a home that was previously out of reach. Except maybe you’re not.

In mortgage underwriting-land, when you alter your pay methodology, you also enter into a new classification of underwriting (there are several).

2022 Jumbo Loan Limits

The 2022 National Conforming Loan Limits (available now at GoldCoast Mortgage) have taken a huge jump forward. The Jumbo Mortgage Limit received a robust expansion of value as well. The conforming loan limit is available nationwide and does not have any limitations per county. 

Bi-Weekly Mortgage Program

Bi-Weekly Payment Plan is it a Valuable Financial Tool or Scam? Before I answer that question, it is useful to know how a Bi-Weekly Payment Plan (BWPP) works. The program concept is contained in the difference between “Every-other-week” and “Twice-a-month”. Half payments made every other week add up to 13 full payments (26 payments / […]

Jumbo Mortgage

A jumbo mortgage doesn’t have a technical “definition”.  It is the “white space” where Agency mortgages stop. If it had a static definition it would never be the same two years in a row. And jumbo’s have multiple variables. 

2021 Conforming and Jumbo Loan Limits

Can you think of many (any?) things that will cost LESS in 2021? Among the items on this shortlist is the cost of mortgage money. While we can’t predict the direction of mortgage rates in 2021, we can tell you that the Limits (caps) on lower costing mortgages are set to expand on January 1, 2021.

Adjustable Rate Mortgage

Pros and Cons of an Adjustable Rate Mortgage (ARM) A mortgage that has a Fixed Rate comes in 10, 15, 20, 25, and 30-year standard terms. Adjustable rate mortgages come in plenty of forms; well over 100 varieties. Many varieties were not designed with the consumer in mind, mostly they are an investment product with […]

Mortgage Bridge Loan

Mortgage Bridge Loan Explained A Bridge Loan is a second position mortgage on your outbound (former) primary residence. It is designed to extract equity from the departure residence to be used as a down-payment on the destination (future) primary residence. How do I get a Bridge Loan? In an ideal world you will never need […]