Myth: VA loans are not preferred loan programs as the appraisals come in lower than the sale price. Fact: VA Appraisals come in at or above market value over 92%…
The Benefits of High Interest Rates
What Is Behind The Increase In Mortgage Rates? When inflation is on the rise, the Federal Reserve will tighten monetary policy and raise interest rates. This policy change discourages risky…
The Domino Effect: How Timelines Impact a Real Estate Purchase Transaction
Purchasing a home is generally a long and stressful exercise that involves many steps and procedural formalities. Closing occurs when the borrower signs the papers that make the house theirs,…
Buyers Purchasing More New Homes For November 2021
Despite purchase prices rising, the Mortgage Bankers Association (MBA) says there has been a steady increase in purchase applications in a recent month-to-month study. Based on the applications, single-family home…
Mortgage Forbearances Decline Significantly in November 2021
Forbearance is when your mortgage servicer or lender allows you to temporarily pay your mortgage at a lower payment or pause paying your mortgage. The borrower will pay the payment…
Important Update: New Mortgage Loan Limits For 2022
While the 2022 Conforming loan limits have not been officially announced by the Federal Housing Finance Agency, we at Bluefire Mortgage Group, are ready to start offering conforming loans up…
What Self-Employed Borrowers Should Expect When Applying For A Mortgage Loan
As a business owner, freelance consultant, or independent contractor, buying a home or refinancing can oftentimes be more challenging to secure financing. It can be difficult to prove how much…
Mortgage Roadmap: A First-Time Homebuyer’s Guide To Getting Pre-Approved
When gearing up to buy a home, there are lots of moving parts to think about. There are the closing costs, insurance, location, rates, and so many other aspects to…
How to Create a Strong Financial Profile
When applying for a mortgage, mortgage lenders will take several factors into consideration when reviewing an application – credit score, debt-to-income ratio, and financial history being the most prominent. Generally…
Mortgage Hack: How to Pay Your Mortgage Off Faster with Biweekly Payments
When financing a house, one of the many decisions a homeowner must make is how to schedule their mortgage payments. By default, payments are due once a month. However, some…