Latest Articles

FHA Announces 2024 Loan Limits

The Federal Housing Administration (FHA) announced new 2024 loan limits for the upcoming calendar year. The 2024 limit is $498,257 for one-unit properties in low-cost areas (increased from $472,030 in 2023). The new loan limits are effective for FHA case numbers assigned on or after January 1, 2024. The National Housing Act requires the FHA […]

New 2024 Conforming Loan Limits

The Federal Housing Finance Agency (FHFA) released the new 2024 conforming loan limits for conventional and VA loans* effective November 29, 2024. The 2024 limit is $766,550 for VA and one-unit conventional loans (increased from $726,200 in 2023). Each year, the Federal Housing Finance Agency (FHFA) evaluates conforming loan limits and makes adjustments to account for […]

Divorce and qualifying income for a new mortgage

Determining qualifying income is Part 4 of E5’s Divorce Mortgage Guidance series. Regardless of the spouse, qualifying for a new mortgage requires consistent and ongoing income that can be verified. For a purchase, the source of the down payment funds also needs verification. We review various scenarios and pitfalls. Qualifying Income To calculate income, lenders […]

Divorce – where will you live?

One of the most significant questions when considering divorce is “where will you live?” E5 developed this multi-part series on navigating the credit, income and home financing process during divorce. E5 Home Loans Divorce Mortgage Guidance Series Part 2 – Divorce Housing Scenarios – Retaining the Marital Home Part 3 – Divorce Housing Scenarios – […]

Valuing your house

If you want to sell or refinance, it’s very important to understand the true value of your home.  Many factors impact your home’s value, including: Market demand Recent sales in your immediate area (comps) The condition of your home Improvements you’ve made It’s no secret most homeowners go online to get a basic home value […]