purchase

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 ...
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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). ...
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How to Prevent Wire Fraud

Wire fraud is a criminal act that involves the use of electronic communication or wire transfers to defraud someone. It typically occurs when nefarious individuals mislead others to send money electronically, such as through wire transfers. The most ...
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Benefits of an online application

Applying online for a mortgage is a convenient and easy way to start the process of buying a home. The E5 Home Loans online application takes only 5-10 minutes. Simply enter your contact info, income history and answer ...
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Appraisal Conditions that Determine the value

Residential appraisal conditions are the factors that are taken into consideration when determining the value of a residential property. Appraisers use a combination of quantitative and qualitative measures to determine the worth of a property, including its location, ...
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Home Warranty – What’s covered

New homeowners usually get a home warranty. Often it’s purchased by the seller, their gift to you in case something breaks. If the seller wasn’t so generous, purchasing a home warranty can be a wise investment to insure ...
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What is a non-QM Loan?

The “QM” in Non-QM Loan First, it helps to know what the “QM” stands for in “Non-QM Loan.”  Let’s start with what is a Qualified Mortgage (QM) loan as defined by the Consumer Financial Protection Bureau (CFPB).  The ...
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Minimum Down Payment for Buyers

When buying a home, the down payment is the initial cash contribution applied to the purchase price.  This amount is typically reflected as a percentage of the purchase price.  For example, $15,000 for a $300,000 purchase would be ...
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