Home Mortgage & Refinancing Serving Locations Throughout New York State
Call us Today: 518-782-1202

Industry Insights, Trends & Mortgage News

2018 FHFA and FHA Loan Limit Changes

Posted in Government MortgagesPosted by Maple Tree Funding

Both the Federal Housing Finance Agency (FHFA) and the Federal Housing Administration (FHA) have increased maximum loan limits for 2018. 2018 FHFA Loan Limits On the conforming side (FHFA), in 2016 the loan limit for one-unit properties was $417,000. In 2017 this increased to $424,100. Now, in 2018, this one-unit conforming loan limit has been increased to $453,100. A much bigger increase from the previous year’s increase. This increase takes place in most of the…

Continue Reading »

When Can I Stop Paying Mortgage Insurance? How to Get Rid of PMI

Posted in FAQsPosted by Maple Tree Funding

For many home buyers, private mortgage insurance is one of the expenses involved with purchasing a home. Most home buyers believe that Private Mortgage Insurance (PMI) automatically drops off once 80% Loan-To-Value (LTV) is confirmed by a new appraisal report – but this is not necessarily true!  Fannie Mae has specific guidelines on when PMI will terminate. It’s important to be familiar with these guidelines so you can understand when you can stop paying PMI…

Continue Reading »

What To Expect During The New York State 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…

Continue Reading »

How to Save For Your First Home: 7 Tips for Saving For a House

Posted in First Time Homebuyers, Home Buying Tips & InfoPosted by Maple Tree Funding

Saving for a home can feel like an impossible task, especially if you’ve never done it before. It’s true that a house will likely be the largest purchase you make in your life – but saving for buying a house is actually easier than most people think. All it takes is some mindfulness and a bit of strategy to start effectively saving for your first home. With these tips and tricks, you’ll have enough for…

Continue Reading »

How Do I Apply for a Mortgage?

Posted in FAQsPosted by Maple Tree Funding

Whether you are a first time home buyer, looking to refinance, or you haven’t owned a home in quite a long time, you may not know exactly how to go about applying for a home loan. Tackling the mortgage process may seem like a daunting task, but we promise – it’s completely doable! How to Apply for a Mortgage When Buying a New Home If you’re planning to purchase a new home, we always suggest…

Continue Reading »