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What is the Difference Between a Mortgage Interest Rate and the APR?

What is the Difference Between a Mortgage Interest Rate and the APR?

As you start applying for a mortgage loan, you will probably hear the terms “APR” and “mortgage interest rate” a lot from lenders. What do these mean, what is the difference between them, and how do they affect your home loan? Mort

Jan 24, 2023 | Interest Rates Mortgage Basics

Loan Level Price Adjustments (LLPAs) Explained

Loan Level Price Adjustments (LLPAs) Explained

Loan Level Price Adjustments (LLPAs) are additional fees implemented by the Federal Housing Finance Administration (FHFA) on certain types of mortgage loans. These fees are designed to account for the increased risk associated with certain loan characteri

Jan 19, 2023 | Homeowner Tips Conventional Loans

2023 Conforming Loan Limits Jump $79,000, Giving Borrowers Plenty of Mortgage Options

2023 Conforming Loan Limits Jump $79,000, Giving Borrowers Plenty of Mortgage Options

Last week the Federal Housing Finance Agency (FHFA) announced the new conforming loan limits (CLL) for mortgage loans in 2023 and based on U.S. home price growth, they are increasing to 12% for the coming year. The new conforming limit will be $726,200 fo

Jan 19, 2023 | Purchasing a Home Refinancing a Home

Your Mortgage Closing Checklist

Your Mortgage Closing Checklist

You’re in the home stretch: you’ve found a great home, made an offer and been accepted. You’ve gone through the home inspection appointments and resolved any issues and now you’re waiting for the mortgage underwriting process to wrap up before you finally

Jan 17, 2023 | Purchasing a Home

Can I Build a House with a VA Loan?

Can I Build a House with a VA Loan?

If you are an active-duty or retired service member, you are likely familiar with the many benefits of buying a home with a VA loan. The Department of Veterans Affairs guarantees mortgage loans that have some of the best rates and terms on the market. But

Jan 12, 2023 | VA Loans

Choosing the Best Type of Refinance Loan

Choosing the Best Type of Refinance Loan

If you are ready to refinance your current loan, there are actually several types to choose from. The right one for you will depend on your purpose for getting a new loan and your eligibility for specialty programs. Here are the most common types and how

Jan 10, 2023 | Refinancing a Home

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