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As mortgage brokers, we at Innovative Mortgage Brokers are constantly exploring different options to help our clients achieve their homeownership dreams. One such option is the 3-2-1 buydown. However, before you jump on the 3-2-1 bandwagon, it's crucial to understand…
Embarking on the mortgage journey can be an exciting adventure, particularly for first-time homebuyers. Yes, there's a fair amount of paperwork involved, and yes, you'll encounter some financial terms that may seem complex at first. But don't worry! One of…
The Pennsylvania Association of Realtors provides a comprehensive monthly statewide report on the Pennsylvania housing market. This report offers valuable insights into key metrics such as listings, sales, median sales price, and inventory status, helping buyers, sellers, and industry professionals…
Fannie Mae, a leading source of financing for mortgage lenders, recently announced significant changes in its Desktop Underwriter (DU) system. The updates are expected to affect the maximum allowable loan-to-value (LTV) ratios for two- to four-unit properties. Changes to LTV…
Choosing the right mortgage broker is a critical step in your home-buying process. It's not just about finding someone who can secure you a loan—it's about building a relationship with a company that understands your needs and works in your…
In the world of home financing, there's a unique lending option that's been gaining traction for a bit: the bank statement mortgage. This innovative mortgage product provides an alternative pathway to homeownership for those who might not qualify for a…
When it comes to mortgage shopping, one size certainly does not fit all. Every home buyer has unique needs, financial circumstances, and goals. This is where the value of customized solutions comes into play. It's also why partnering with a…
Buying a home is one of the most significant decisions you will make in your lifetime, and it can be an overwhelming and complex process. From preapproval to closing, there are numerous steps involved in securing the right mortgage that…
When it comes to buying a home, one of the most significant hurdles can be saving for the down payment. In Pennsylvania, like elsewhere, buyers often turn to gift funds to help cover this cost. As a mortgage broker company,…
At Innovative Mortgage Brokers, we place great emphasis on keeping our customers up-to-date about any fluctuations in the mortgage industry. Recently, Freddie Mac has made some significant updates to their guidelines concerning student loan payment calculations that could potentially impact…
