1 STOP MORTGAGE BLOG!

Mortgages Then and Now in America!

 A Brief History of Mortgages     In the day when someone wanted a home loan, he or she would walk to the neighborhood bank. If the bank representative knew the customer and considered the person a good credit risk, then the customer would get the loan. Mortgage loan terms were not the customer-friendly in those days. Loan terms were limited to 50% of the property value, and the repayment schedule was spread over three to five years and ended with a balloon payment.     Prior to the mid-1930s, America consisted primarily of renters, and only four in...

January 9th, 2017 | Mortgage News!, Mortgages Then and Now in America!

Loan Limits Go UP! Home Values Increase!

Loan Limits Go UP! FHFA (Federal Housing Finance Agency) Ups Conforming Loan Limit to $424,100 for 1-unit housingMortgage News Daily, November 29, 2016FHFA (Federal Housing Finance Agency) Ups Conforming Loan Limit to $424,100 for 1-unit housingGreat News for Tennesseans! After leaving them in a holding pattern for 10 long years, the Federal Housing Finance Agency (FHFA) has raised conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac.  Separate loan limit announcements are expected shortly from FHA and the Veterans Administration.   The current loan l...

November 30th, 2016 | Mortgage News!, Loan Limits Go UP! Home Values Increase!

Serving the Great Mid-South Region
Offices: 901-388-1588 or 901-476-9100 | Toll-Free: 
888-580-1588 | Fax: 901-388-6202 | Email: info@1stophomeloans.com
1 STOP MORTGAGE | NMLS#215671 | TN Lic#108931 | 5909 Shelby Oaks Dr, Suite 129, Memphis, Tennessee 38134