MN Mortgage Matters

VA Loan Funding Fees Increase Yesterday, the President signed HR 647, which resulted in the VA funding fee to rise to pre-November 18th, 2011 levels. These higher fees will remain in effect for any VA mortgage loans until September 30, 2016. If your VA loan closes today through and including Sept...

Rate Watch: Reports to Observe Before Thanksgiving Earlier today, we found out that Existing Home Sales rose in October. But that’s not the only report to keep your eye on this week. Tuesday, the Gross Domestic Product (GDP) is set to be released from quarter three. It’s expected to increase 2.5%...

FHA Loan Limits Are Raised The Transportation and Housing Appropriations Bill is raising the max loan limit for Federal Housing Administration-backed loans to $729,750 for two years. This should entice more FHA approved originators to enter the market. In addition, the House and Senate have also ...

24 Easy Ways to a Smooth Loan Approval For an effortless loan process, here are 24 dos and don’ts to prevent you any delays with your loan approval. Some of them may surprise you! DO continue to live at your current residence.DON’T start any home improvement projects.DO continue to make your mort...

Where’s Operation Twist? With Operation Twist having gone into effect on September 21st, many have remarked on how there has not been an immediate impact on the mortgage industry thus far. However, experts comment that we shouldn’t be looking at Operation Twist as an immediate solution, but a lon...

This Week’s Market Expectations With everyone stocking up on turkey and stuffing for Thanksgiving, investors are stocking up before next week’s short financial week arrives. Here are the many things you should keep your eye on this week. As usual, Europe dominates our market as they continue to t...

Housing Affordability Reaches New Highs Conforming mortgage rates are in the low five percent range and may move lower in the coming months. The desire of policy makers to stimulate the housing market will likely ensure that the Federal Reserve will continue to buy FNMA, FHLMC, and GNMA mortgage ...

How to Buy Your Dream Home and Save Money When choosing a home to purchase, you have three options: a regular sale, short sale and foreclosure. Due to the economic market, there are many foreclosures on the market that will offer you a cheap housing option with possibly less work than you might e...

4 Issues You Should Know About This Week With the bond market closing for Veteran’s Day tomorrow, here’s a look back at what has been happening this week and their effects. 1. Italy is the new Greece when it comes to Europe’s economic problems. However, after a few uncertain moves, it seems Italy...

Do You Know The 6 Reasons Why Mortgage Applications Are Rejected? Applying for a mortgage can be a stressful time, especially if you don’t know what can mess up your application. Half of refinances and 30% of purchases are rejected, according to the Mortgage Bankers Association and the Federal Fi...