Mortgage Education Blog

Lifting the curtain on mortgage lending
Rocket Pro TPO Raise Conforming Loan Limits

Rocket Pro TPO Raise Conforming Loan Limits

With home prices rising across the country, the Federal Housing Finance Agency is expected to raise their conforming loan limits next month. Rocket Pro TPO, the wholesale channel of Rocket Mortgage that works with mortgage brokers, anticipates $625,000 as the new 2022...

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A Retiree’s Guide to Mortgage Refinancing

A Retiree’s Guide to Mortgage Refinancing

Congratulations, you’ve made it to retirement. Now what? Golf, travel, relax by the beach, refinance your mortgage. Say, what? Conventional wisdom holds that you shouldn’t have a mortgage to pay by the time you are retired. After all, a life free of mortgage payments...

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The Pros & Cons of the New 40 Year Mortgages

The Pros & Cons of the New 40 Year Mortgages

You’ve heard of the 15-year mortgage and the 30-year mortgage, but soon, for a select group of borrowers, there’ll be a 40-year mortgage option. Ginnie Mae, the government-owned mortgage bond corporation, recently announced a new, longer mortgage term, available to...

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Top 10 Oakland Eateries: Bang for your Buck Edition

Top 10 Oakland Eateries: Bang for your Buck Edition

Whether it be the rent, gas, bar tabs or dining out, the Bay Area is not known for being inexpensive. And it’s not just San Francisco. For the last decade Oakland has rivaled all other Bay Area cities in growth and exorbitant pricing for all things. As an East Bay...

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A House Hunter’s Guide

A House Hunter’s Guide

House hunting is widely considered the most exciting stage of the homebuying process, but it can also be quite stressful. Potential homebuyers typically have an idea of the items they may want in a home, the essentials they need in a home, and the non-desirables that...

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Providing Clarity on Mortgage Insurance

Providing Clarity on Mortgage Insurance

There can be a multitude of expenses when buying a home. Whether it be the down payment or the closing costs, the appraisal or various inspections, all fees and factors can certainly add up. In many cases homebuyers will also have to pay mortgage insurance. It would...

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3 Questions to Consider Before Refinancing

3 Questions to Consider Before Refinancing

With so many monetary factors currently in flux one thing has remained consistent and evident during the pandemic: U.S. homeowners are refinancing in record numbers.  Mortgage refinancing is up by 98% from November 2019 to November 2020, with the average mortgage...

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Conforming loan limits to increase again in 2021

Conforming loan limits to increase again in 2021

For the fifth consecutive year, the Federal Housing Finance Agency (FHFA) increased loan limits for Fannie Mae and Freddie Mac backed mortgages. The conforming loan limit will jump from $510,400 to $548,250. For high cost areas, like the Bay Area, the loan limit will...

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Conforming loan limits to increase again in 2020

Conforming loan limits to increase again in 2020

For the fourth consecutive year, the Federal Housing Finance Agency (FHFA) increased loan limits for Fannie Mae and Freddie Mac backed mortgages. The conforming loan limit will jump from $484,350 to $510,400. For high cost areas, like the Bay Area, the loan limit will...

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Top 3 Mistakes Homeowners Make when Refinancing

Top 3 Mistakes Homeowners Make when Refinancing

  Number 1: You choose the wrong company It's as simple as that. According to the CFPB, 47% of mortgage applicants fail to shop around for their mortgage. Most often, homeowners will refinance with their existing lender, thinking that lender will offer the best...

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