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Government Mortgages

Maximum VA & Conforming Loan Limits Increased for 2019

Posted in Government Mortgages, Mortgage & Refinance ProgramsPosted by Maple Tree Funding

In late November, the Federal Housing Finance Agency announced that conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac in 2019 will increase by almost 7 percent. In December, the Veterans Administration announced that the 2019 VA loan limits will be increased to match the FHFA conforming loan limits. These new loan limits are effective immediately, but loans using the new limits must close on or after January 1, 2019. This change will…

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2014 USDA Eligible Areas Update

Posted in Mortgage & Refinance ProgramsPosted by Maple Tree Funding

Last week, The Agricultural Act of 2014 was approved by the Senate and the House.  Part of this Act includes an important provision championed by the National Association of Home Builders (NAHB) that will enable millions of Americans to maintain access to critical rural housing programs.  These changes that were in place would have restructured eligible USDA area’s making some areas become ineligible. More than 900 communities nationwide will now be able to maintain their “rural”…

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2014 USDA Eligible Rural Area Changes

Posted in Mortgage & Refinance ProgramsPosted by Maple Tree Funding

In January 2014, specific areas will be affected in whether or not they are USDA eligible. Implementation of the 2010 Census Data will occur on January 15, 2014, which will modify the eligible rural areas for Rural Housing loan programs. The future eligibility area maps can be viewed on the USDA Eligibility website. Properties in areas that will no longer be designated as rural will not be eligible for Rural Housing purchase loan programs as…

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Can I Refinance My Private Mortgage?

Posted in Mortgage & Refinance ProgramsPosted by Maple Tree Funding

If you have a mortgage through a private lender you may be wondering if it is possible to refinance from a private mortgage into a traditional mortgage. The answer: Yes, you can! Refinancing a private mortgage into a traditional mortgage is actually very similar to a standard traditional mortgage refinance. In order to refinance your private mortgage into a traditional mortgage, you will need basic documentation – the same documentation you needed when originally applying…

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June 2013 Mortgage Insurance Changes

Posted in Mortgage & Refinance ProgramsPosted by Maple Tree Funding

We’ve had many questions regarding upcoming FHA changes for mortgages regarding mortgage insurance.  Below is an overview of these changes and the effect they will have regarding FHA Mortgage Insurance. What are the changes to FHA Mortgages starting in June of 2013? On June 3, 2013 the following FHA MIP changes will be in effect for FHA case numbers assigned for all transactions.  As announced by HUD on January 31, 2013 in Mortgagee Letter 13-04; the changes will…

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