Embark on your home-buying journey with CrossCountry Mortgage, armed with insights to sidestep common hiccups that could stall your closing process. Our tips guide you through crucial decisions, from maintaining employment stability, avoiding large debt-inducing purchases, to getting pre-approval before house hunting, and understanding that a 20% down payment isn't always mandatory. Coached by your local Mortgage Advisor, your path to homeownership can unfold as smoothly as a well-directed movie scene, making your dream home a tangible reality. ...

In 2023, the Federal Housing Finance Agency (FHFA) has raised conforming loan limits, bringing significant implications for homebuyers. Conforming loans, designed to meet specific criteria set by the FHFA, Fannie Mae, and Freddie Mac, offer advantages such as lower down payments, minimum credit score requirements, and mortgage rates. The new limits, set at $726,200 for one-unit homes in most areas, provide valuable insights into fees and factors affecting mortgages. This article delves into the intricacies of conforming loan limits, their impact on home financing, and the varying limits across different regions, equipping homebuyers with essential knowledge for a successful mortgage journey in 2023. ...

Unlocking the Mystery of Mortgage Insurance: A comprehensive guide for homebuyers and refinancers, providing essential information on what mortgage insurance is, when it's needed, different types available, factors impacting its cost, and how to stop paying it. Navigate the world of homeownership with confidence and make informed decisions about your mortgage insurance needs. ...

Exploring the prospect of homeownership in a high-interest rate landscape can be daunting for both first-time and upgrading homebuyers. Offering relief, temporary buydowns present an often overlooked solution. This comprehensive guide delves into the mechanisms of temporary buydowns, their advantages, and their implementation in specific scenarios like 2-1 buydowns. From the benefits for buyers and sellers to the comparison with paying discount points, get a complete understanding of how temporary buydowns can transform your homeownership journey in an era of soaring interest rates. ...

Discover the advantages of adjustable-rate mortgages (ARMs) and how they can benefit you. From lower initial payments and faster principal paydown to increased buying power and potential savings, explore the flexibility and advantages that ARMs offer. Find out how to choose the right ARM for your needs and use our user-friendly calculator to estimate your monthly payments. Whether you're a first-time homebuyer or looking to refinance, ARM loans provide a viable option worth considering. ...

Discover how bridge loans can provide immediate access to cash and empower homebuyers to navigate the challenging process of buying a new home before selling their current one. Learn about the benefits, considerations, and practical applications of bridge loans in this comprehensive guide. ...