FHA 203(k) Loans, or “Renovation Loans,” allow borrowers to finance costs associated with renovations within a single mortgage loan. They are specifically designed for borrowers who want to remodel or…
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%…
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…
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,…
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…
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…
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…
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…
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…
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…
