As the real estate market shifts, the equilibrium between buyers and sellers shifts as well. For example, a property that would’ve been caught in a bidding war previously may now…
Contrary to down payment assistance programs, the 10% down payment assistance grant program, or “Forgivable Loan,” is designed for low income borrowers and is completely forgivable if borrowers meet certain…
When purchasing a house, first-time home buyers tend to think about the cash needed to cover things like closing costs and the foreboding down payment. We collaborate with the sponsor…
The new conventional Conforming loan limits have been increased to $715,000! Although they haven’t been officially released, we at Bluefire Mortgage Group are honoring these new loan limits effective immediately…
What Is the Debt Service Coverage Ratio (DSCR)? The Debt Service Coverage Ratio is a ratio of a property’s annual net operating income and its annual mortgage debt, including principal…
One of the questions that we often get asked is, “What is the best time to buy a house?” Seasonality has much to do with supporting factors in the housing…
Homeownership provides stability and the opportunity to create a foundation for a family. However, there are also tax benefits that come with buying and owning a home. Taking advantage of…
When a homebuyer is interested in purchasing a condominium or townhome utilizing FHA or VA financing, the homeowners association of the subject property must be approved by the FHA or…
As a borrower, there are several options when it comes to purchasing a home. Financing a home with a mortgage is the most common route. From there, a buyer must…
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…
