Industry Insights, Trends & Mortgage News
Working with a NYS Registered Mortgage Broker
Posted in About UsPosted by Maple Tree Funding
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…
Continue Reading »How Does a Gift of Equity Work?
Posted in First Time HomebuyersPosted by Maple Tree Funding
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…
Continue Reading »New York USDA Loan Income Limits
Posted in Guide to USDA Home LoansPosted by Shane Latza
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…
Continue Reading »What To Expect During The New York Mortgage Process
Posted in First Time HomebuyersPosted by Maple Tree FundingAn 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 »Do I Qualify for an FHA Loan?
Posted in Guide to FHA Home LoansPosted by Maple Tree Funding
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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