Author Archives for Alex Cnossen

Family sitting on floor of living room of new home during move in day

How Much House Can I Afford? The Answer Is Different for Everyone

January 24, 2022 12:00 am Published by Comments Off on How Much House Can I Afford? The Answer Is Different for Everyone

Homeownership can be an excellent financial decision for people at a variety of income levels. There actually isn’t a specific salary needed to buy a house. What makes or breaks the decision to buy isn’t necessarily how much money you earn but whether the property you purchase is affordable within a comfortable monthly budget. Here’s... Read More

Young couple looking at map and laptop while drinking coffee.

Map It Out: Your Home Loan Timeline from Offer Through Closing

January 17, 2022 12:00 am Published by Comments Off on Map It Out: Your Home Loan Timeline from Offer Through Closing

Did you know that at least 86 percent of homebuyers use financing to purchase their home? For first-time homebuyers, that number jumps to 94 percent, according to the National Association of Realtors. This means that if you’re looking to buy a home or hope to in the future, there’s a good chance that you’ll need... Read More

Close up of a young couple having white wine while having a break from painting their home.

Home Equity & COVID-19: How to Take Advantage of Record Gains

January 10, 2022 12:00 am Published by Comments Off on Home Equity & COVID-19: How to Take Advantage of Record Gains

If you own a home, you’re probably aware—the COVID-19 pandemic has fueled a staggering increase in home prices. In fact, did you know that U.S. homeowners are sitting on approximately $23 trillion worth of home equity after gaining $2.7 trillion in equity this year? How Did This Happen? In short, home equity is the current... Read More

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Reverse Mortgage vs. Home Equity Loan vs. HELOC: Which is Best?

December 27, 2021 12:00 am Published by Comments Off on Reverse Mortgage vs. Home Equity Loan vs. HELOC: Which is Best?

There are multiple ways to access your home equity without having to actually sell the property. Reverse mortgage, home equity loans, and home equity lines of credit (HELOC) are three unique options that are suitable in different situations. This guide will help you understand which option might be best for you. Accessing Equity: Cashing In... Read More

Dad with adult son looking at computer at home in kitchen

The Perfect Holiday Gift—Money for a Down Payment?

December 20, 2021 12:00 am Published by Comments Off on The Perfect Holiday Gift—Money for a Down Payment?

We all love to receive money for special occasions or for big life milestones, like purchasing a new home. Gift funds are a great way to help out if loved ones want to take pressure off a new home buyer. However, there are important facts and guidelines to know if you plan to use gift... Read More

Young couple moving into a new home with checklist on tablet computer.

Mortgage Interest Rates: Why Do They Rise & Fall?

December 13, 2021 12:00 am Published by Comments Off on Mortgage Interest Rates: Why Do They Rise & Fall?

Like most things in life, mortgage rates have their ups and downs. But why do interest rates fall and then come back up? How do you know when to get the best mortgage interest rate? This mortgage interest rate guide will help you understand more about getting the best deal on your home purchase. Interest... Read More

Happy little girl and her mother reading Hebrew bible while celebrating Hanukkah at home

Easy Tips For a More Eco-Friendly Holiday Home

December 6, 2021 12:00 am Published by Comments Off on Easy Tips For a More Eco-Friendly Holiday Home

From uneaten food to discarded wrapping paper and packaging, the holidays come with a lot of waste. In fact, according to experts, the amount of waste produced by US households increases by more than 25 percent between Thanksgiving and New Year’s Day. If visions of reduced waste are dancing through your head, this guide is... Read More

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What is an FHA Loan?

December 1, 2021 12:00 am Published by Comments Off on What is an FHA Loan?

Every borrower has a unique financial situation and will require different types of funding based on their long-term goals. For borrowers interested in purchasing their first home or those looking for more flexible financing than a conventional loan, an FHA loan could be the right solution. Benefits of an FHA Loan The government-insured Federal Housing... Read More

Shot of a happy young couple using a laptop while relaxing on a couch in their living room at home

FHFA Increases Conforming Loan Limits for 2022

December 1, 2021 6:23 am Published by Comments Off on FHFA Increases Conforming Loan Limits for 2022

The Federal Housing Finance Agency (FHFA) announced on Tuesday, Nov. 30 that the 2022 maximum conforming loan limit (CLL) for one-unit properties will be $647,200 for most of the U.S.— a significant increase from the 2021 maximum CLL of $548,250. The maximum CLL will be higher for areas in which 115 percent of the local... Read More

Young couple working out family finances together at home using laptop

Do Mortgage Lenders Look at Rental History?

November 18, 2021 12:00 am Published by Comments Off on Do Mortgage Lenders Look at Rental History?

For most renters, their rent payments are the largest single expense they’re responsible for on a monthly basis. Given that, a positive history of on-time rental payments seems like it would be pretty helpful on a mortgage application, right? But does rental history matter when buying a home? Let’s explore this and other questions relating... Read More