Latest Articles

Loan Limit Increases for 2023

Add loans to the seemingly never-ending list of things affected by inflation. This year, most mortgages will have an increased loan limit to more closely match the modern-day housing market. At Modern Lending, we are accepting the new loan limits for conventional loans starting now. The updated loan limits for FHA and VA loans will […]

FHA Loan vs. Conventional Loan

Are you looking to buy your first home? Congratulations! This can be an exciting, but confusing process, let’s dive into the difference between alternative types of loans to help you secure the loan that best fits your needs.  What is an FHA Loan? An FHA loan, or a Federal Housing Administration loan, is a mortgage […]

Buying a Home With an FHA Loan

FHA loans can enable people to buy a house when they may have not qualified for a mortgage otherwise. Offering minimum down payments of only 3.5%, highly competitive interest rates, and forgiving credit requirements, FHA loans are a great option for people who are looking to purchase a home but might not check all of […]

How Does a HELOC Work?

Thinking of doing a home renovation or consolidating your mortgage? A home equity line of credit might be the best choice for you. Let’s dive into what a HELOC is, how to effectively use a HELOC, and how to decide if it’s the right choice for you. What is a HELOC? A HELOC, or a […]

What’s the Difference Between Cash-Out Refinance...

When you need cash to cover damages, repairs, projects, or home renovations for your home, you can release the money you’ve invested in your mortgage through mortgage refinancing. Let’s dive into the different ways to go about refinancing your mortgage. Types of Refinancing There are two common ways to refinance your mortgage: Cash-Out Refinancing Pays […]

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