Mortgage Rules

Mortgage Porting

Mortgage Portability

The Guise of Mortgage Portability “Is my mortgage portable?” The answer is probably yes. “Is it easy to port my mortgage?” The answer is probably not. When you’re selling your existing home and buying something else, porting your mortgage involves transferring the remainder of your current mortgage term, outstanding principal balance, and interest rate to that new …

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New Mortgage Qualification Rules

New Mortgage Qualification Rules New mortgage rules have been announced impacting all conventional mortgages where borrowers have 20% or more for a down payment.The changes will reduce your buying power by approximately 20%. These rule changes will be effective January 1st, 2018 so there isn’t much time left! Example Household Income $100,000/yr Two Car Payments $900/mth Qualifying …

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