Buying a Home Archives - Page 6 of 6

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The Adjustable Rate Mortgage – Don’t Fear The ARMs

The Value of ARMs Besides helping lift things, hugging and being the perfect place to attach your hands, ARMs can play another important role in your life. I’m speaking of Adjustable Rate Mortgages (ARM). These got pretty scarce after the great recession, but they are becoming more popular home loans and here’s why. Inside the […]

No Appraisal Cost Purchase Loans

That’s right, no appraisal cost on a purchase. Now through March 31, 2022, we’re offering homebuyers up to a $600 credit towards the appraisal on a primary home purchase. With E5 Home Loans, we shop to ensure buyers get the best fit loan program with a great interest rate available. And we don’t include a […]

New Conforming Loan Limits for 2022

Each year, the Federal Housing Finance Agency (FHFA) evaluates conforming loan limits and makes adjustments to account for the increase in home values. The “conforming” loan limit (CLL) is the highest loan amount for mortgages to be acquired by Fannie Mae and Freddie Mac. Simply put, this confirming loan amount keeps borrowers out of a […]

What to look for from your mortgage company

Getting a home loan is one of the largest purchases you will ever make. A mortgage broker has advantages in three categories; price, product & service.

Don’t Let Special Circumstances Keep You from Getting a Mortgage

There are a whole bunch of special circumstances that can affect your ability to qualify for a home loan. Getting straight answers, and sometimes a second opinion, regarding the rules and guidelines can be the difference between getting a home now, having to wait, or not even ever getting a home loan.

The Difference Between an Appraisal and a Home Inspection

Frequently people confuse the terms appraisal and inspection. While they are both part of the home buying process, they are distinctly different. In the simplest of terms, an appraisal determines the "value" of your home for a lender, while the inspection determines the condition of the home for the buyer. Learn more about these distinctions.

When Applying for a Home Loan Do This, but Do NOT Do That

When buying or refinancing a home, there are some activities that can derail the processing of your loan. Here's a list of things that you should NOT do without first consulting your loan officer