An appraisal waiver is a process used by mortgage lenders to waive the requirement for a traditional home appraisal for certain home loans. Instead of a full appraisal, the lender may use an automated valuation model or other methods to determine the value of the property. Appraisal waivers can be beneficial for both lenders and […]
The Loan Limits Blog
Income Requirements and Criteria for First-Time Home Buyers in 2022
Planning to buy your first home? Do you have questions about the income requirements and criteria for first-time home buyers seeking a mortgage? You’re in the right place! Below, we’ve provided an overview of the basic income requirements and qualifications for first-time buyers seeking a mortgage loan in 2022. In short: One of the most […]
The California Mortgage and Escrow Closing Process, Step by Step
How does the mortgage and escrow closing process work in California? How long does the real estate closing take, for home buyers? And what steps are involved in this process? These are some of the most common questions home buyers have about real estate escrow and mortgage closing. Today, we will examine the various steps […]
What’s the Lowest Down Payment for a Conventional Loan in 2022?
Home buyers tend to have a lot of questions regarding the down payment needed to buy a house with a mortgage loan. One of the most common questions has to do with the minimum or lowest down payment required for a conventional home loan. We’ve answered this question below. Short version: The lowest down payment […]
Here’s How Student Loan Debt Affects Your Mortgage Approval
Student loan debt can make it harder to get approved for a mortgage loan. It can increase your debt-to-income ratio and influence your credit score. It could limit your ability to save up for a down payment and closing costs. Even so, it’s possible to qualify for a mortgage loan with student loan debt. Student […]
Texas Conforming & Jumbo Loan Limits for 2022: Now Up to $647,200
5 key highlights from this report: Texas conforming loan limits were increased for 2022. The revised limit for a single-family (one-unit) property is $647,200. Anything above that amount would be considered a jumbo loan in Texas. Housing officials made these changes due to major home-price growth. Austin home prices could soon surpass the conforming loan […]
Forecast: California Home Prices Will Slow, But Not Drop, in 2022
Key highlights from this housing report: California home prices are expected to rise more slowly in 2022 But home prices in California are not expected to drop in 2022 That’s according to a forecast from the state’s Realtor association Supply and demand imbalance is putting upward pressure on prices Overall, the market is expected to […]
Will Houses Get Any Cheaper in 2022?
Will houses in the U.S. get cheaper in 2022? Or will housing affordability continue to fall as prices climb? This is a common question among future home buyers, as we approach the last two months of the year. It’s also a tough question to answer across the board, because real estate conditions can vary from […]
Why Are Home Prices Rising So Fast in 2021?
Why are home prices rising so fast in 2021, even with a pandemic going on? And will they ever slow down? These are common questions among home buyers, homeowners, agents, and others with a vested interest in the real estate market. Today, we will address those questions in detail. In short: The main reason why […]
Will the Housing Market Crash in 2022 or 2023?
The real estate market has been pretty crazy over the past 15 months or so. Home prices in many U.S. cities have risen like never before. It has many people wondering, will the housing market crash in 2022, or possibly in 2023? It’s a valid concern. After all, most of us can remember the last […]