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Your home’s loan closing will occur at your home or at the office of a title company or attorney in your area who will act as our agent. The seller might also be there for new home purchases so they can transfer ownership to you. These two events will happen separately in some states.
A few days before closing, your loan advisor will contact you and walk through the final information, including your final loan amount, first payment date, fees, etc.
During the loan closing, you will review and sign several papers for the loan. The most important documents you will sign include the note, the mortgage or deed of trust, and the Closing Disclosure. The closing agent or attorney conducting the closing should be able to answer any questions you have. If you prefer, you can also contact your loan advisor.
A mortgage will often involve many fees, such as title charges, appraisal fees, closing fees, and local or state taxes. These fees will vary from state to state and from lender to lender.
To help you understand and evaluate our fees, we have grouped them as follows:
For details, contact your loan advisor.
The Federal Housing Finance Agency (FHFA) is responsible for the effective supervision, regulation, and housing mission oversight of the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), and the Federal Home Loan Bank System. The FHFA’s mission is to ensure that Fannie Mae and Freddie Mac and the FHL Banks fulfill their mission by operating in a safe and sound manner to serve as a reliable source of liquidity and funding for housing finance and community investment.
The baseline conforming loan limit for mortgages backed by Fannie Mae and Freddie Mac in 2024 is rising to $766, 550 which is a 5.5% increase compared to 2023. For more information on this FHFA Loan Limit, check out our blog.
The 150% ceiling of the baseline limit recognizes the diverse nature of housing markets, ensuring that individuals in areas with higher property values can still benefit from the increased limits.
Learn more here
There is a lot of demand for higher conforming loan limits so you should consider securing the rates promptly. Our team will be able to help you secure these rates and guide you through the whole homebuying process.
-Access your Eligibility : Before beginning the process for this FHFA Loan you must first evaluate if this loan is the right decision. Assess your financial situation to determine your eligibility for these expanded loan amounts. Consider factors such as income, credit score, and existing debt to make informed decisions.
-Explore Loan Packages* : Once you have determined that you are eligible, connect with our team of mortgage specialists to explore various loan packages available. Our team will walk you through the steps and help you understand how the increased conforming loan limits align with your unique financial goals and ownership aspirations. They will also explain how you can secure favorable rates. *Subject to credit approval.