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Industry Insights, Trends & Mortgage News

Working with a NYS Registered Mortgage Broker

Posted in About UsPosted by Maple Tree FundingNYS registered mortgage broker giving a presentation to a young couple

The home purchase process feels intimidating enough for many home buyers – especially those who are going through the process for the first time. But while there is certainly a lot to figure out and understand when it comes to the process of purchasing a home, there’s no need to be intimidated when it comes to choosing who will guide you through the process and help you secure financing for your home purchase. Financing for…

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How Does a Gift of Equity Work?

Posted in First Time HomebuyersPosted by Maple Tree Fundingparents selling home to son utilizing a gift of equity, handshake over signing of gift of equity letter

In our decades of facilitating home purchases for our clients and customers, we’ve seen equity gifts help home buyers to purchase houses many times.  Thinking about using a gift of equity to purchase a home? Here’s how they work. What is a Gift of Equity? A gift of equity is when a home seller – who has a personal connection to the buyer – agrees to sell their house for a price that is significantly…

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New York USDA Loan Income Limits

Posted in Guide to USDA Home LoansPosted by Shane LatzaUSDA Loan concept. Man holding book.

As of June 8th, 2022, the USDA Rural Development Single Family Housing Guaranteed Loan Program has updated the USDA home loan income limits for counties throughout the United States, including counties in New York State. USDA loan income limits vary based on geographic location and household size. This latest update has increased income limits for some regions, while the limits for other areas have remained the same as they were during 2021. Understanding USDA Mortgage…

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What To Expect During The New York Mortgage Process

Posted in First Time HomebuyersPosted by Maple Tree Funding

An Overview of The Initial Document Review, Underwriting, Property Appraisal and Clear to Close Stages The mortgage process can seem daunting and a bit overwhelming, especially if you’re a first time homebuyer. When shopping your home financing options for the very first time, it can be tough to know where to start – and to know what to expect as you move forward with obtaining a mortgage. At Maple Tree Funding, we work hard to…

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Do I Qualify for an FHA Loan?

Posted in Guide to FHA Home LoansPosted by Maple Tree FundingBusinessman explaining FHA loan policy to young couple.

The Federal Housing Authority (FHA) backs mortgage loans for people who don’t quite fit the traditional underwriting criteria for getting approved for a home of their own. People that benefit from these loans are first time home buyers, people who don’t have much credit history, and people who have had credit issues in the past but have everything back on track. Because these loans are designed to help an underserved segment of the population, they…

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