GREENWAY BLOG

27 September 2022

Conforming Loan Limits Increase to $715,000

  At Greenway Mortgage, we’re passionate about opening doors for home buyers. Recording-breaking home price appreciation in 2021 and 2022 has resulted in an increase in conforming loan limits. To reflect changing home prices and to increase home buying power, we’ve increased our Conventional Mortgage loan limits to $715,000 which will give buyers more wiggle room to qualify! Loan Limits Just Got Higher Previously, conforming loans were available up to 647,200. With recent changes, that limit has increased to $715,000! 1 Unit: $715,000 2 Units: $916,000 3 Units: $1,107,000 4 Units: $1,376,000 What can this...

READ MORE

26 September 2022

Why Should I Get Pre-Approved for a Mortgage Loan?

  It's always been a good idea, but lately, it's become even more important to get pre-approved before you start your home search.  Why should I be pre-approved for a mortgage loan? In recent years, mortgage guidelines have been tightened. Documentation requirements have been expanded and followed more closely. A pre-approval gets you through the process and uncovers potential pitfalls long before you become obligated by a contract to purchase. What advantages will I have once pre-approved? You'll be certain about the price range that's best for you. You'll know how much cash you'll need to close, and you'll know...

READ MORE

12 September 2022

Marry the House. Date The Rate.

  It’s no secret over the past couple years the housing marketing has been red hot. With the Fed constantly raising rates, may prospective homebuyers worry whether their window to purchase a home has sailed. “Is it still a good time to buy a house?” The team at Greenway Mortgage says, “Yes!” Of course, the right time to buy is when you’re ready. But, for many home buyers, interest rates are a top concern. What many don’t realize is that interest rates are always in flux and there’s no real way to predict their path. Trying to catch the perfect rate shouldn’t deter you if you find the perfect house. Marry The...

READ MORE

9 September 2022

MarketMinute | Is For-Sale Inventory On The Rise?

The service industry picked up in August for the 2nd straight month, reinforcing the view that the economy is not yet in a recession. Last week’s jobless claims hit a 3-month low, underscoring the robustness of the labor market despite the Fed’s rate increases. Comments from multiple Fed officials showed they remain optimistic about the economy while still committed to battling inflation. With rates reaching highs last seen in June, purchase mortgage apps were down slightly for the week and...

READ MORE

6 September 2022

5 Reasons to Work With A Mortgage Lender

  Working with a local mortgage lender in a hot housing market is key. If you’ve ever mentioned the phrase “mortgage company” many people initially think of big national companies. But working with a local lender like Greenway Mortgage can come with several advantages over those bigger companies. We’re here with you every step of the way. That means we can offer you better rates, personalized service, and advice whenever you need it. And most importantly, we’re here to help you make a smart home purchase that works for you. Let’s take a deeper look at the 5 reasons to work with a mortgage lender. Reason #1: We offer...

READ MORE