Lending Update: Loan Limits Increased for 2018

Lending Update: Loan Limits Increased for 2018

In response to rising home prices across the nation, the Federal Housing Finance Agency has increased Fannie Mae and Freddie Mac’s conforming loan limits for the second year in a row. In most communities in the U.S., the new loan limit for one-unit properties...
New Lending Rules: Understanding ‘TRID’

New Lending Rules: Understanding ‘TRID’

On Oct. 3, a major change will take place in the home-buying process. That’s when the new federal lending regulation known as the “TILA-RESPA Integrated Disclosure” goes into effect. You’ll probably hear it referred to around here as simply “TRID.” And many in the...

Mortgage Rates on the Rise

If you’ve been actively looking to buy a home in the past few months, you probably noticed a significant change recently: Mortgage interest rates have gone up — way up. At the end of May, local lenders were quoting a rate of approximately 3.875 percent for...

New Loan Program for Central Oregon Home Buyers

A new loan program recently announced by Bank of the Cascades was developed to address the needs of Central Oregon residents who have lost their homes or filed for bankruptcy as a result of job loss, medical expenses or other related circumstances.  The goal of  the...
Deschutes County Receives High Marks from Major Lender

Deschutes County Receives High Marks from Major Lender

A recent discussion with one of the mortgage loan officers I work with revealed an interesting tidbit. The bank keeps tabs on the various real estate markets within each state and categorizes them in one of five levels. To arrive at those levels, the bank ranks each...

Improvements to the HARP Refinance Program are On the Way

Yesterday, in an effort to enable more borrowers to refinance their home mortgages, the Federal Housing Finance Agency, along with Fannie Mae and Freddie Mac (the Enterprises), announced several changes to the Home Affordable Refinance Program (HARP) . The program...