Today we talked about the latest Real Estate Market Update and just how Un-Important it is that a 1/4% difference makes on an Interest Rate. Build your sphere of influence and your Network. Don't step over the dime to pick up the nickel. Today we talked about 2 Hot Appraisal Topics. Why are Appraisals costing more and why are they taking longer to complete?
What's going on? And then, Eric, are you seeing a problem with Appraisals not Appraising with all the over-bidding going on? What are you seeing?
What's going on? And then, Eric, are you seeing a problem with Appraisals not Appraising with all the over-bidding going on? What are you seeing?
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With nearly twenty years of experience, Eric is accomplished mortgage professional based in Phoenix, Arizona. Eric pays close attention to industry trends and developments in order to ensure his team remains adaptable. Eric was recently featured as Top Mortgage Processional in the 2017 Arizona Mortgage Edition of Top Agent Magazine.
A jumbo mortgage is a mortgage with a loan amount above conventional conforming loan limits. A home equity loan (sometimes abbreviated HELOC) is a type of loan in which the borrower uses the equity in their home as collateral. A lifetime loan available to seniors, and is used to release the home equity in the property as one lump sum or multiple payments.
The entire team was fantastic. They all had quick responses to my questions, were very honest, and provided constant updates. I would recommend them to anyone! As a realtor who is looking for excellent and honest financing for my clients, Eric Kinneman is the best. From start to finish I know that I can rely on Eric's loan status updates keeping my buyers and I in the loop every step of the way.
Most lenders would consider a conventional mortgage as a loan that conforms to the guidelines set forth by Freddie Mac and Fannie Mae, the two government sponsored enterprises (GSEs) that provide liquidity in the mortgage market. Technically speaking, a conventional loan is any mortgage that is not guaranteed or insured by the US government, such as VA, FHA and USDA.
A Jumbo, or non-conforming loan, is required for financing on a mortgage that is higher than the conforming loan limits set by Fannie Mae and Freddie Mac. Mortgage bankers / lenders consider jumbo loans to be a riskier proposition than conventional loans due to the fact that a larger sum of money is 'bet' on a single transaction vs spreading that same dollar amount amongst multiple transactions.
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