November 2008

How Big Your Mortgage Can Be Without Being Considered “Jumbo” (2009 Edition)

November 12, 2008 by MikeRosen · Leave a Comment 

For the 4th consecutive year, the government has set the conforming mortgage loan size limit at $417,000.
A conforming mortgage is one that, quite literally, conforms to the mortgage guidelines set forth by Fannie Mae or Freddie Mac.
The 2009 conforming loan limits, as released by the government, are:

1-unit properties : $417,000
2-unit properties : $533,850
3-unit properties : [...]

Not Caulking Your Windows Leaks As Much As Air Leaving One Of Them Open

November 10, 2008 by MikeRosen · Leave a Comment 

If the amount of air that leaked from a typical home’s gaps and cracks was measured, it would equal the amount of air that leaves through an open window. 
This is why so many Home & Garden experts recommend a recaulking of your home prior to the Winter – a solid caulk job can reduce a [...]

Planning To Buy A Home In 2009? Expect A Tougher Mortgage Road Ahead.

November 5, 2008 by MikeRosen · Leave a Comment 

The Federal Reserve confirmed what most of us already knew — getting qualified for a “prime mortgage” is increasingly more difficult.
In a quartely survey of 84 banks, 75 percent of respondant banks tightened mortgage guidelines over the last 3 months for the most qualified of home loan applicants.
“Prime” is a vague term when it comes to [...]