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News and tips from mortgage industry professionals.
Freddie Mac and Fannie Mae PMI Removal
One factor that increases monthly payments in a mortgage is Private Mortgage Insurance (PMI). You’ll find that about 40% of purchase mortgage loans and about 10% of refinance mortgage loans have PMI included. There is an option to remove it, as long as you adhere to a...
FHFA/FHA Conforming Loan Limits 2022
The Federal Housing Finance Agency (FHFA) announced an increase in conforming loan limits. According to the FHFA, the median home prices in the U.S. have increased, prompting a change. Many welcome this move as it will mean they can receive higher loans for properties...
7 Common Home Mortgage Refinancing Mistakes (and How to Avoid Them)
Mortgage interest rates hit record lows during the COVID-19 pandemic. While they have increased slightly from their lowest rate, these low rates are tempting many homeowners to consider home mortgage refinancing. Refinancing a mortgage can save you money in the long...
What Is a Mortgage Prepayment Penalty?
Did you know that 40% of all American households own their homes outright? This means no more monthly mortgage payments, no more being charged interest, and a sense of full ownership and freedom. Isn't that the dream? If you aren't able to purchase a property in cash,...
RōBUS Mortgage Now Licensed in Virginia!
We got approved and licensed in our 13th state: Virginia! True to form, here are... 10 Interesting Facts About Virginia1. Virginia is a commonwealth, which traditionally means it is a political community founded for the common good of its people, and in the most basic...
Understanding Mortgages: Mortgage Information for Home-Buying Millennials
Investing in a home is one of the best financial decisions a person can make. Homebuying builds wealth more effectively than most other options for investment, especially for young individuals who don't have a lot of capital to work with. Not to mention that owning a...
All loans & rates are not created equal
Don't be fooled by advertised low rates. Let us show you what your best options are.