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Industry Insights, Trends & Mortgage News

2024 FHFA and FHA Loan Limit Changes

Posted in Guide to FHA Home LoansPosted by Maple Tree FundingUpward arrow and house representing the increase in FHA and FHFA loan limits

Both the Federal Housing Finance Agency (FHFA) and the Federal Housing Administration (FHA) will have increased maximum loan limits for 2024. 2024 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, in 2018 the limit increased to $453,100, and in 2019 the limit increased to $484,350. The conforming loan limit was increased to $510,400 in 2020, $548,250 in 2021, $647,200…

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How to Obtain a DD214 for Military Members Seeking VA Loans

Posted in Guide to VA Home LoansPosted by Maple Tree FundingUSA flag and models of house. VA home loan concept.

VA home loans are some of the best mortgages available for those who are eligible. But for some eligible veterans, proving that eligibility and verifying it with a Certificate of Eligibility (COE) or DD214 form is a challenge, often because they may not know how to go about obtaining the necessary documentation of their military service. Here, we’ll share the details of how to go about getting your DD214 if you do not currently have…

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USDA Mortgage Refinancing: Understanding Your Options

Posted in Guide to USDA Home LoansPosted by Maple Tree FundingCalculator with wooden house and coins stack and pen on wood table representing a USDA mortgage refinance

USDA home loans can be hugely advantageous for those looking to purchase homes in rural areas throughout New York State.  Because they deliver 100% financing to people who meet the eligibility requirements, and offer a number of other benefits – including low monthly mortgage insurance, flexible credit score requirements and the possibility of rolling closing costs into the mortgage – they’re an especially great option for first time home buyers!  If you’ve obtained a USDA…

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VA Now Offers Home Loan Options for National Guard Service Members

Posted in Guide to VA Home LoansPosted by Maple Tree FundingFlags of United States National Guard and USA painted on cracked wall

A recent update to VA home loan benefits has expanded home loan eligibility to US National Guard service members. Certain members of the Army National Guard and the Air National Guard are now eligible to apply for VA home loan benefits when working towards purchasing a home. Expanded VA Loan Eligibility in 2021 This change to the VA’s eligibility guidelines was brought about by the “Johnny Isakson and David P. Roe, M.D. Veterans Health Care…

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How the New York STAR Program Helps Lower Your School Taxes

Posted in Home Buying Tips & InfoPosted by Maple Tree FundingNew York State STAR Program Logo

A lot of items will make the list of “must-haves” when you begin searching for your new home.  Two items that commonly rank high on this list are: a good school district and low taxes. Unfortunately, those two items don’t always go hand in hand, but New York’s STAR program can help with this. What is the New York STAR Program? The NY STAR Program is the School Tax Assessment Relief program, and is a tax…

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