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Tuesday, April 25, 2023

Mortgage Fee Changes Effective May 1, 2023

A recent USA Today article, discusses changes that will go into effect May 1, 2023- relating to upfront costs when acquiring loans backed by Fannie Mae and Freddie Mac.

Updates to the rates are because of changes in the Loan Level Price Adjustments (LLPAs) which are based in part on downpayment amounts and credit scores.

The following tables provide a summary of the difference in the current rates (LLPA Matrix) versus rates that will go into effect on May 1, 2023.



For more on the current LLPA Matrix see this PDF link. The discussion on the upcoming changes to the LLPA Matrix are found at this PDF link. More discussion on these updates can be found at this link.

Thursday, August 11, 2022

Home Improvements to Consider Over Others

In today's marketplace, home valuations take into consideration many factors. One of these factors is the law of increasing returns, as related to the money spent for improvements on a property.

Surprisingly, not all home improvements are considered added value projects (law of diminishing returns).

That said, let's start with some that are considered, more often than not, added value home improvement projects:

  • Kitchen
  • Bathrooms
  • Garage Doors
  • Siding
  • Refinishing Basement
  • Upgrade Flooring
  • Add on or Home Office Conversion
  • Windows

Home improvements that may not add value to a property's value include:

  • Swimming Pool
  • Extensive Landscaping
  • Expensive Lighting & Fixtures
  • Solar Panels

Staying ahead of market trends and making safe decisions about home improvements is always a good idea.

Post References

  1. Dotdash Meredith Creative (28 June 2022). "Three Home Improvements That Actually Add Value—and Three to Skip", TheBalance.com (9 June 2022).
  2. Valerie Kalfrin, Christopher Rogacz (31 January 2022). "What Upgrades Increase Home Value? 25 High-ROI Improvements Buyers Love", Homelight.com (31 January 2022).
  3. Ginera Benedetti (15 December 2020). "8 home improvements that won't add value – what to avoid when renovating", Homes & Gardens (15 December 2020)




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