HELOC vs HELOAN
Homeowners looking to borrow against their home equity often consider two popular options, either of which don’t require a new first mortgage: a Home Equity Line of Credit (HELOC) and a Home Equity Loan (HELOAN). While both allow access to your home equity, there are important differences between a HELOC and HELOAN that you should understand…
Read MoreMasonMac Heroes Loan Program
At MasonMac, we take a lot of pride in being active in the many communities we serve. With branches from the East Coast to Hawaii, we have the privilege of being a part of some wonderful areas across the United States. Our team members are local parents, little league coaches, and volunteers throughout the country,…
Read MoreWhat The Fed Rate Hike Means For Mortgage Rates
Today, the Fed raised the Federal funds rate by .25, marking a full 5% increase in the fed funds rate since they began hiking rates in early 2022. It’s important to note what the Fed rate hike means for mortgage rates and other areas of the market. The Fed funds rate is the rate at…
Read MoreNon-QM Mortgage Loans – Pros, Cons, and Use Cases
As the mortgage industry has evolved, traditional mortgage products haven’t met the needs of every borrower. This is where Non-Qualified Mortgages (Non-QM) come into play. Non-QM mortgages are specialized loan products that offer flexible lending options for borrowers who may not meet the more stringent requirements of conventional mortgages. As with all loan products, Non-QM mortgages come…
Read MoreCalHFA Dream for All is here!
MasonMac has rolled out a solution to help first time home buyers in California achieve the dream of home ownership. With the Dream for All program, CalHFA will offer qualifying first time home buyers up to 20% of a home purchase price toward down payment and closing costs in the form of a shared appreciation…
Read MoreIndiana Mortgage Loans
MasonMac is now officially licensed to provide mortgage loans in Indiana. Indiana is the 32nd state MasonMac has obtained licensing in, and brings industry leading customer service and a wide product offering to the state. In short, Indiana mortgage loans just got a whole lot better! Residents in the Hoosier State now have access to…
Read MoreTrigger Leads – What Are They & What You Can Do
Do Credit Bureaus Sell Your Information – Trigger Leads Have you ever had your credit report pulled when applying for a loan, only to be swarmed with calls from creditors trying to sell services or offer loans? This isn’t a coincidence, and is one of the most annoying aspects of applying for credit for today’s…
Read MoreIs It a Good Time to Buy a House?
Is It a Good Time to Buy a House? This question is one of the most common questions we see from consumers, investors, real estate agents, and many others with interest in the real estate market. The answer is ‘yes’. But it also depends on your specific situation, what’s important to you, and where…
Read More2023 Conventional Loan Limits
The Federal Housing Finance Agency (FHFA) has released the loan limits for 2023. With this announcement, FHFA has effectively raised the limit on how many dollars can be borrowed using Fannie Mae & Freddie Mac Conventional loan products. The loan limits increased across the nation, with variances in the increases for “high cost areas”, and…
Read MoreWhat is a 203K Loan?
Is your home in need of renovations and repairs? A 203K loan could be your answer! A 203K loan is a home improvement loan that allows borrowers to finance the cost of repairs or improvements on their home. It’s typically used for projects that will increase the property’s value and/or improve its energy efficiency. It…
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