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Is it Simple to Qualify for a Home Loan?
One of the top questions we receive is, “How do I know if I can buy a house?” The most straightforward route is to have enough to buy the home outright. This does not work for the majority of us. Since most of us require financing to purchase our homes, below is a quick overview…
Read MoreWhy do I need PMI on my mortgage?
Private mortgage insurance (PMI) can be a frustrating extra cost for many borrowers. Most people have been conditioned to believe PMI is a negative feature of loans. This is not true. Mortgage insurance is one of the top reasons millions of Americans have been able to become homeowners and grow their wealth. Don't get me…
Read MoreHow can I qualify for a mortgage with my student loan debt in Nebraska?
Student loan debt has exploded over the previous three decades. In 1995, the total federal student loan balance was $187 billion. In 2022, the total federal student loan balance was an estimated $1.617 trillion. Combining this with rising housing prices, both renting and buying, it is getting more challenging to afford a house in America.…
Read MoreHow do I qualify for an FHA loan in Nebraska?
FHA loans offer many benefits for homeowners. Traditionally, an FHA loan will have more forgiving guidelines than conventional loans. This allows borrowers with higher debt to income and lower credit scores to qualify. Common FHA Misconceptions There are several Misconceptions about FHA loans that borrowers and even some real estate professionals have that may…
Read More2023 Mortgage Loan Limits
Why are there home loan limits? The Federal Housing Finance Agency (FHFA) oversees Fannie Mae and Freddie Mac. To conform to the guidelines allowed on Fannie and Freddie loans, the loans have a limit on the loan amount. Every year they evaluate the appreciation seen nationally and adjust their loan limits accordingly. Beginning in 2006,…
Read More2022 Year in Review and What is Next for Interest Rates and Real Estate
This year has been a year for the record books! The market shifted quickly after two years of record-low interest rates and rising home prices. As you can see from the chart below, the average 30-year rate started at 3.39% and briefly topped 7% in October and early November. Since then, the rates have come…
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