Have you ever wondered what portion of your mortgage payment goes towards paying down the principal loan balance? The answer is that it changes slightly on every payment you make…
Credit Checks: Soft vs Hard Credit Inquiries
One of the critical parts of a mortgage application process is having your mortgage lender complete a credit check. While borrowers are often apprehensive about having their credit scores pulled,…
2024 Conforming Loan Limits
The 2024 conforming loan limits have just been officially announced by the Federal Housing Finance Agency and we at Bluefire Mortgage Group are ready to start offering conforming loans up…
Down Payment Changes For 2-4 Unit Properties
Overview The mortgage lending landscape is constantly changing to meet market conditions. One of the areas where changes are welcomed is the minimum qualification requirements for specific loan programs/products. Recently…
Making Your First Mortgage Payment
Congratulations, your mortgage loan has been funded and the escrow on your purchase has successfully closed. Once the celebration has ended, oftentimes borrowers find that they were so caught up…
Easy Ways To Improve Your Credit Scores
Dealing with poor or damaged FICO credit scores can seem like fighting an unending battle. Perhaps you have been sliding to the bottom of the mountain for years due to…
Qualifying for a Mortgage After Retirement: Easier Than You Think!
A question asked frequently is, “Can I obtain a mortgage even if I am retired?” Fortunately, the answer to this question is undoubtedly, yes! And no we are not talking…
Interest Rate Lock: Everything You Need To Know
Recently interest rate volatility has become commonplace in the mortgage world. It is no longer uncommon for an interest rate to swing in any specific direction of up to 0.5%…
Is It Time for a Home Upgrade?
Are you trying to determine if it makes sense to move and upgrade your home? If you are going to need mortgage financing, a good place to start is to…
CalHFA: Dream for All
The California Housing Housing Finance Authority has introduced a new Down Payment Assistance Program, better known as the Dream for All purchase loan program. For new homebuyers, this new loan…