Are you ready to cast your line or set sail on the crystal blue waters of Florida’s Space Coast? Brevard County, Florida, offers some of
When it comes to homeownership, understanding how your credit score influences your ability to secure a mortgage is essential. Your credit score plays a pivotal
What are Fannie Mae and Freddie Mac?
No they aren’t actual people. Fannie Mae is also known as the Federal National Mortgage Association and Freddie Mac is just another name for the Federal Home Loan Mortgage Association.
Fannie Mae and Freddie Mac are government-sponsored enterprises. This shareholder-owned corporation was created by Congress in 1938 to provide stability, liquidity and affordability in the mortgage market as part of President Roosevelt’s New Deal. They are now our nation’s largest purchaser of home mortgages.
Basically, Fannie and Freddie purchase Mortgages from lenders, so that the lenders have more money to lend out. They then securitize the loans and sell them as mortgage backed securities to investors.
On this week’s Joe Knows Mortgages MINUTE, we answer the question: How does my credit score affect my loan? Most loans have a risk-based pricing model. In other words, the loan is going to be priced according to the risk that the lender takes by making the loan. Through statistics, lenders have realized that loans with lower credit scores ultimately present a higher risk than those with higher credit scores. If you have a higher credit score, you will typically pay less for a loan than someone with a lower credit score.
Contrary to popular belief, increasing the value of your home doesn’t have to mean ripping up floors, tearing down walls, and spending every dime you
Your credit score is probably one of the most important aspects of your financials, and it is crucial to stay on top of it when
“Hi David, when are interest rates going up?”  John, I appreciate the question and if I knew for certain, I would tell you. As
What is a funding fee? The funding fee is essentially the way that the VA will guarantee your loan against default to the lender. It
