The entire real estate industry is inundated from the historically low mortgage rates that have caused a refi boom during a pandemic, no less! When you buy or refinance a home, documents are recorded in that specific county to give “public notice” of the transaction. Once your transaction is “recorded” it is typically considered “closed”. [Read more…]
Archives for September 2020
Appraisal Waivers on Conforming Mortgages
September 25, 2020 by Leave a Comment
Some conforming mortgages for refinances or home purchases may not require an appraisal. It all boils down to what the response is from Fannie Mae or Freddie Mac’s automated underwriting systems on whether or not an appraisal is required. You may have perfect credit and tons of equity in your home, yet no appraisal waiver if Fannie or Freddie’s underwriting systems determine it’s not eligible.
Your next conforming mortgage might be eligible to not have an appraisal if it meets the following criteria: [Read more…]
Mortgage Rates Still at Extreme Lows
September 18, 2020 by 2 Comments
Freddie Mac’s weekly survey of mortgage rates show that interest rates are still at extremely low levels although I have noticed rates bouncing around a bit more this past week.
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