Industry Insights, Trends & Mortgage News

Home Mortgage Loans & Your Credit Score: What You Need to Know

Posted in Mortgage BasicsPosted by Maple Tree Funding

Despite their importance and influence when it comes to obtaining a mortgage and financing a home purchase, most home buyers have a limited understanding of what credit scores are and what they mean. Here, our mortgage experts will tell you everything you need to know about credit scores in relation to home mortgages so you’ll be well prepared as you start the mortgage process and work towards purchasing your next home! What is a Credit…

What Should I Do With My Tax Refund?

Posted in Home Buying Tips & InfoPosted by Shane Latza

Tax season is an exciting time, especially for those individuals who are expecting a tax refund! Having some extra money on hand is a refreshing change of pace for many. With tax refunds comes opportunity. When it comes to making the most of your tax refund, you have many options to choose from. Expecting a tax refund this year, but you are not quite sure what to do with it? Consider these options for how to…

How To Apply For The USDA Loan Program

Posted in Government MortgagesPosted by Maple Tree Funding

The United States Department of Agriculture (USDA) offers a home mortgage program that allows a borrower to receive a 100% financing home loan. There are a variety of benefits to using a USDA mortgage to finance your home, and a number of eligibility requirements you must meet in order to qualify to do so. For more information about USDA home loans, please visit our USDA Mortgages page. How to Apply for a USDA Mortgage in New…

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…

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…