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Escrows for Taxes and Insurance: Understanding Why They Change
One Big Thing: Time to Explain Escrows to Borrowers At The Town Group, we know homeownership comes with its share of surprises—especially when costs fluctuate. One common area of confusion is escrow accounts. Why do they change, and what can you do to stay ahead of rising taxes and insurance costs? Let’s break it down.…
Read MoreHappy Holidays and a Look Ahead at the 2025 Housing Market
As the year comes to a close, we want to take a moment to wish you and your loved ones a joyful holiday season. Whether you’re celebrating with family, relaxing by the fire, or planning for the year ahead, we hope this time brings peace and happiness. At The Town Group, we’re grateful for the…
Read MoreUnderstanding the 2025 Conforming and FHA Loan Limits: Boosting Your Buying Power
As we move into 2025, exciting updates to conforming and FHA loan limits are opening new opportunities for homebuyers across the country. These changes are designed to keep up with rising home prices and ensure that more buyers can access affordable financing. Here’s everything you need to know about the new limits and how they…
Read MoreHow the Election Could Impact the Mortgage Industry—and Why Now Is the Time to Save
Elections bring change, and with change often comes opportunity—especially in the mortgage industry. From interest rate trends to housing policies, the results of an election can directly impact your ability to buy a home, refinance, or access better loan options. Here’s what you need to know and why acting now could save you money. Interest…
Read MoreAre You as Confused as I Am? Why Interest Rates Rose After the Fed Lowered Rates in 2024
If you’re feeling a bit puzzled about why interest rates increased just after the Fed lowered rates, you’re not alone! It’s a confusing time, and many people are wondering why mortgage rates didn’t immediately drop when they heard news of the Federal Reserve’s recent rate cut. First off, don’t lose hope! While it may seem…
Read MoreSummary of Fed Decision and Mortgage Rates
On September 18, 2024, the Federal Reserve cut interest rates by 0.5%, bringing the Fed Funds Rate to around 4.875%. This rate affects short-term loans like credit cards and car loans but has an indirect impact on mortgage rates. The prime rate went from 8.5% to 8.0%. Because of this rate cut, the difference between…
Read MoreNAR Settlement Rule Change
NAR Settlement Rule change effective August 17th, 2024 The recent NAR settlement is now in effect. There has been a lot of discussion and a lot of questions regarding the effect of this settlement on new loans. We have tried to narrow this down to the items most important to our partners. If you have…
Read MoreMaximize Your Success with Seller Concessions!
Know the Seller Credit Limits by Loan Type #RealEstateTips #SellerConcessions #HomeBuying #MortgageAdvice #TheTownGroup
Read More10 Ways To Qualify Without Tax Returns
Missing tax returns shouldn’t stop borrowers from getting approved for a loan. Whether your borrower is self-employed, an investor or a W2 wage earner, we have options to qualify them without tax returns. Qualify with 12- or 24-months business bank statements Qualify with 12- or 24-months personal bank statements Qualify using DSCR Qualification based on property…
Read MoreUnderstanding Credit Card Debt vs. Refinancing: A Path to Financial Freedom
In today’s economic climate, many Americans are struggling with high levels of consumer debt, particularly credit card debt. Interest rates on credit cards can be overwhelming, making it difficult for individuals to manage their monthly payments and get ahead financially. However, there is a solution that many people overlook: refinancing. At The Town Group, we…
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