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Mortgage Myth: Skipping a Payment
Mortgage Myth: “Skipping a Payment” when Refinancing One of the most common myths in the mortgage world is an oft-misunderstood aspect of refinancing when it comes to the first payment date of a newly originated/refinanced loan. Many times consumers and loan officers alike are confused by the timeline of having one loan paid off and payments…
Read MoreHome Prices – The Market is Affordable!
Homes Are More Affordable Than They Seem In today’s world of competitive markets, short inventory, and rising purchase prices, things are tough for home buyers (and sellers, too!). With sharp appreciation and bidding wars becoming more common, it seems the market is unaffordable, but when diving into the data, it appears that throughout the US,…
Read More2021 Conventional Loan Limits are Out…and Up!
2021 Loan Limits Are Out and They’re Up! Today, Fannie Mae & Freddie Mac released their updated loan limits for 2021. Each year, maximum loan limits on conventional loans are adjusted based on median home values and the overall housing market. For 2021, we’re seeing a 7.5% increase to conventional loan limits! The new…
Read MoreThe Renovation Mortgage is the Key to Your Dream Home
We realize that at the time this is posted, we’re seeing severe shortages of home inventory in most markets across the country. Homes are priced extremely high, and in the rare occasion that a well-priced, move in ready home hits the market, it’s often not long before multiple bids come in, driving that once reasonable…
Read MoreIs It Smart to Refinance Your Home?
“Yes! Of course! Immediately!”, said the mortgage company… While as a mortgage company we certainly have skin in the game when it comes to refinancing, transparency is also the name of our game, and we want you to know the truth to the question “is it smart to refinance my home?”. And that truth…
Read MoreRichmond Virginia Mortgage Client Appreciation Party
On Wednesday, November 6, 2019, Mason-McDuffie’s Richmond Virginia branch held a client appreciation party to gather with and thank their clientele. The event was held at Richmond’s River City Roll (rivercityroll.com) venue and offered a ton of fun for clients and their families. The patio was packed with clients and their families along with MasonMac team…
Read MoreWhat the Fed Rate Cut Means to You
The Fed has once again cut rates, this time by .25% – so what does this mean for you? Well, the Fed funds rate is the rate banks borrow from each other. When the rate is cut, it is done to help stimulate the economy and increase inflation. The Fed funds rate is…
Read More5 Things To Keep In Mind When Buying A Home During the Holidays
Buying a home during the holidays offers more benefits than most people realize – less competition from other buyers who may be sitting on the sidelines, lower rates resulting from cyclical slowdowns in the economy, sellers more motivated to sell, and more opportunity to see a home at it’s worst – more problems are apparent…
Read MoreBuying a House with No Down Payment
Home values have risen substantially over the past several years and are expected to continue that trend, at least short term. That means that for many individuals and family, the largest hurdle to home ownership is coming up with a down payment. Conventional loans typically come with a 3% down payment requirement, and FHA loans…
Read MoreThe Best Mortgage Term for You
Is the 30 year fixed rate mortgage the best loan? Yes! Is the 15 year fixed rate mortgage the best loan? Yes! Is the 10 year mortgage the greatest of loans? Yes! How can all 3 of these loan terms be the best? Well, they’re all the best option for different people. At MasonMac,…
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