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Mortgage Info

Maximum Conforming Loan Limits Increased for 2019

Posted in Mortgage InfoPosted 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.   This change will increase the maximum conforming loan limit for one-unit properties to $484,350, up from 2018’s loan limit of $453,100. This is the third conforming loan limit increase in the last three years, and it will take effect in most areas throughout the…

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What Are the Current New York Interest Rates? How to Get an Accurate Quote

Posted in Mortgage InfoPosted by Maple Tree Funding

As a New York State mortgage broker, we are asked about the current NY interest rates quite frequently. Home buyers want to obtain the most competitive rate available – and rightfully so, as your mortgage interest rate can impact how much you pay for your home overall and what you’re paying on a monthly basis. Unfortunately, there is no one-size-fits-all answer to this question. The mortgage interest rates are constantly fluctuating based on a variety…

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Understanding the Mortgage Pre-Qualification Process

Posted in Mortgage InfoPosted by Maple Tree Funding

If you’re looking to purchase a new home, one of the very first steps you should take is to get pre-qualified for a home mortgage. Here, we’ll delve into the details of what you need to know about mortgage pre-qualification, including what’s involved in the pre-qualification process, the benefits of being pre-qualified for a mortgage, and what you need to get the pre-qualification process started today! What is Mortgage Pre-Qualification? Mortgage pre-qualification is essentially the…

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NY STAR Program Registration for Homeowners

Posted in Mortgage InfoPosted by Maple Tree Funding

Starting in 2014 and beyond, in order to receive Basic STAR exemption in New York State, new legislation is requiring all New York Homeowners receiving a Basic STAR exemption to register with the New York State Tax Department in order to receive the exemption going forward. The Registration period stated on August 19th, 2013 and is going to continue through December 31st, 2013.  For more information please visit The New York State Department of Taxation…

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2013 FHA Bankruptcy Foreclosure Changes

Posted in Mortgage InfoPosted by Maple Tree Funding

FHA has decided to cut the wait times for clients to get approved after hard times.  The Federal Housing Administration that is behind what we call FHA Mortgages has recently changed its policy on how long a potential home buyer must wait after having a Bankruptcy, a Foreclosure, or a Short Sale. In the past, FHA made a client wait two years after a completion of a bankruptcy and three years after a foreclosure or…

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