The Fed finishes the year with a fourth rate hike – Bankrate

The Federal Reserve’s latest move is bad news for borrowers hit with multiple rate hikes this year. Policymakers ended a two-day meeting Wednesday by voting to raise the central bank’s benchmark interest rate to a range of 2.25 to 2.5 percent. This is the fourth rate hike of 2018 and …

Fannie, Freddie conforming loan limits increase in nearly every part of the U.S. – HousingWire

After not increasing the maximum conforming loan limits on mortgages to be acquired by Fannie Mae and Freddie Mac for 10 years, the Federal Housing Finance Agency has now increased the conforming loan limit for the third straight year.   The FHFA announced Tuesday that it is increasing the conforming loan limit for …

I work in the Cannabis Industry and am paid in cash – Michaela Phillips

As a W2 Cannabis employee, can I get paid in cash and qualify for a mortgage? If you are a W2 employee in the Cannabis industry, there is a likelihood that you may be paid in cash versus a traditional pay check.  As medical and recreational Cannabis become legal in …

Factors Mortgage Lenders Consider – SmartAsset

Things have tightened up in the housing market since the housing crisis and lenders are looking at mortgage applications more closely. Lenders consider many factors before deciding whether to approve applicants. Once you know what they’re looking for, you can boost your chances of getting approved. Check out five factors …

Cannabis Employees In Colorado Can Qualify To Purchase A Home For A Minimum Investment Of $1000

YES IT’S TRUE! Have you been dreaming about purchasing a property in Colorado but don’t have much saved for a down payment? Don’t stress, W2 employees in the Cannabis industry can actually qualify for down payment assistance through the CHFA program. CHFA stands for Colorado Housing Finance Authority and they …

What exactly happens when a mortgage lender checks my credit? – CFPB

What exactly happens when a mortgage lender checks my credit?   Answer:   The credit check is reported to the credit reporting agencies as an “inquiry.”   Inquiries tell other creditors that you are thinking of taking on new debt. An inquiry typically has a small, but negative, impact on …

Mortgage Rates Step Back – Freddie Mac

Mortgage rates remained mostly flat over the past week, which has been the dominant theme since late spring. This stability in borrowing costs comes despite the highest core inflation rates since 2008 and turbulence in the currency markets. Unfortunately, this pause in rates is not leading to increasing home sales. …

Down Payment Assistance for Employees in the Cannabis Industry

Homebuyers using one of our first mortgage loan programs to finance their home purchase are eligible to use CHFA down payment assistance options. Even if you contribute towards a down payment, you may still use one of the options below: ​ Down Payment Assistance Grant * Up to 4 percent …

Portfolio Lenders Suspend Mortgage Financing for Cannabis Owners

UPDATE: Residential Financing for Cannabis Owners is Making a Comeback The trickledown effect of U.S. Attorney General Jeff Session’s rescission of the Cole Memo continues to frustrate business owners in the cannabis industry. The Cole Memo was brought forward by the Obama administration, the gist of the memo was that …