Blog



New Hires

Welcome Alex Masterpol!

Dec 13
1:55
PM
Category | New Hires

Homestead Funding would like to welcome Alex Masterpol to our Brewerton, NY sales team. Alex has been in the mortgage industry for over 30 years having been a highly accomplished loan originator and recognized as a top producer.

Alex strives to keep his customers happy and provide them exemplary service. He believes sharing his knowledge is key to his customers enjoying a stress-free mortgage transaction. 

Alex says he is happy to be part of the Homestead team because they offer a wide variety of loan programs that he can assist his customers with including: fixed rate Conventional, FHA, VA and USDA loans; adjustable rate loans and renovation loan programs.

Alex has been successful in establishing an excellent relationship within the medical community in Central New York and referred to by many as The Mortgage Doctor because of his financial knowledge and expertise.  He prides himself on being accessible to his customers when they need him. Alex will work with you to develop home loan solutions by listening to your needs. He has a genuine interest in your satisfaction and failure is not an option.

To Learn more about Alex visit his webpage.

Welcome, Alex!


Informational

2019 Conforming Loan Limits

Dec 6
11:42
AM
Category | Informational

They’ve done it again!T

The Federal Housing Finance Agency (FHFA) recently announced the maximum conforming loan limits for 2019. After not increasing the limits for 10 years, this will be the third increase in three years!  Economists speculate that with home prices still on the rise there was a need for the increase for the third straight year. The increase from $453,100 to $484,350 in 2019 is a 6.9% increase from last year’s.

Additionally, loan limits will also increase in “high cost areas” where 115% of the local median home value exceeds the baseline loan limit.

 

The new loan limits are as follow:

Maximum Loan Amount for 2019

Units Contiguous States, District of Columbia, and Puerto Rico

Alaska, Guam, Hawaii, and the U.S. Virgin Islands

(also in designated high cost areas)

1 $484,350 $726,525
2 $620,200 $930,300
2 $749,650 $1,124,475
2 $931,600 $1,397,400

 

A more detailed county breakdown can be found here: 

https://www.fhfa.gov/DataTools/Downloads/Documents/Conforming-Loan-Limits/FullCountyLoanLimitList2019_HERA-BASED_FINAL_FLAT.pdf

For a more details and how this increase can assist you in buying or refinance a home, call your Loan Originator today!

 

Product requirements effective 1/1/19 • Product availability & requirements subject to change.


Informational

Halloween Mummy Dogs

Oct 19
9:24
AM
Category | Informational

We at Homestead Funding Corp. are wishing you a spook-tacular Halloween! Below is a fun filled recipe to get you into the Halloween Spirit. Halloween Mummy Dogs make a great Halloween party snack for you and your family to enjoy!

Ingredients:

  • (1) 8 oz. package crescent rolls or crescent roll dough
  • 8 hot dogs
  • MustardPreheat oven to 375oF

Directions:

  1. Preheat oven to 375oF
  2. Roll out crescent roll dough & press at any seams to seal.
  3. Slice dough into thin strips, about 1”wide.
  4. Wrap dough strips around hot dogs, leaving room near the top for the mummy’s face.
  5. Bake in preheated oven for about 12 minutes.
  6. Dip a toothpick in mustard and use it to add eyes & serve.

 


Informational

There has been a positive change in recent months in the housing market. Homeowners are experiencing an increase in the amount of equity they have in their homes. According to a new CoreLogic report*†, there has been an increase in home equity of over 12% since last year, amounting to over $980 billion in value nationally.

There has been a 20% decrease in negative equity (when a homeowner owes more on their mortgage than their house is worth) over the last year. While negative equity has been on the decline since 2012, this recent dip has pushed the percent of underwater homeowners to less than 10%. This combined with increased property values has resulted in homeowners across the country seeing an average increase in their home equity of $16,200.

 

What do these numbers mean for you?

Having positive equity allows you to take advantage of the equity you already have in your home. The more equity you have, the more you can leverage. To access your equity, you can apply for a cash-out refinance.** Cash-out refinances are a great way to achieve your financial goals.

Here are just a few ways you can use the money from a cash-out refinance:

  • Make home improvements
  • Buy an investment property or second home
  • Pay off debts like credit card balances or student loans
  • Increase your savings or invest in the market***
  • Send a child to college

Contact your Loan Originator to review your refinance options.

*CoreLogic Homeowner Equity Insights - Q2 2018
†Information referenced in the report includes properties with mortgages only.
**Option may not be available in all states
***Please consult your financial advisor


General

It has been a little over four weeks since Hurricane Florence made land fall on the Carolina coast leaving devastation behind.  Although the recovery process is underway there is still a long way to go for those in effected areas.  Rebuilding and addressing the housing needs of those in the devastated areas is top priority to restoring their lives back to normal. 

There 203h mortgage option is specifically designed to assist victims in Presidentially designated disaster areas.


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