Nick Pakulla Mortgage Lender Loan Officer in Maryland (MD), the District of Columbia (DC), and Virginia (VA)

FHA Updates Loan Limits as of November 18, 2011   On November 18, 2011, the President signed into law H.R. 2112, Consolidated and Further Continuing Appropriations Act 2012 (HR2112). Section 238 of HR 2112 re-establishes the FHA loan limit at the higher of the dollar limit in Section 203(b)(2) or...

It was just announced today that a bill has been approved that will raise the FHA (FHA only) mortgage loan limit back to $729,750 for the DC area and $560,000 for the Baltimore metro area.  Unfortunately, they did not raise the Fannie / Freddie conventional mortgage loan limit and they still rema...

With Rockville MD mortgage rates still near all-time lows many buyers will have significantly higher payments and may qualify for less if they head back up (like they did last spring).  Please pass the example below to your buyers to show how beneficial low interest rates are! $417,000 borrowed@4...

Some encouraging mortgage headlines that all point for positive signs for the housing market in the coming months for buyers in Silver Spring and Bethesda Maryland, DC, and Virginia:  For buyers across the country and locally here in Bethesda MD, monthly payments based on median home prices and m...

September 30th and October 1st are important in our industry as several government loan limits are set to change: Conventional Fannie Mae loan limits will be changing, FHA mortgage loan limits will be changing, and VA loan limits will not be changing yet, however, VA funding fees will be changing...

First Place Bank’s 80/10/10 loan program was recently mentioned in the Wall Street Journal Online as an example of a creative way to assist buyers (and sellers) above the lowering Fannie Mae county loan limits!    September 16, 2011, Will Expiring Loan Limits Kill My Sale?  By June Fletcher. Link...

VA announces a decrease to the VA funding fee effective October 1st.  For the full notice you can find it at: http://www.benefits.va.gov/HOMELOANS/circulars/26_11_12.pdf Purpose: This circular announces changes in funding fees for Department of Veterans Affairs (VA) loans closed on or after Octob...

Just a reminder that the Fannie Mae loan limits are set to expire on Sept 30th and all loans must be settled on or before that date (the 30th is a Friday).  Be cautious of the dates, we are hearing that some other lenders have already stopped taking new applications for loans above $625,500 in th...

  Mark Taylor gives an excellent overview of the seemingly confusing "APR."  I agree, that it is generally a worthless metric when comparing lenders and loan options due to all of the room for interpretation and lack of timeline.   Personally I think APR should only take into account bank fees, r...

 There are a few main types of institutions that provide mortgages, all have their pros and cons.  For the average consumer purchasing a home it is my opinion that a small Community Bank is the best place to obtain a mortgage (and that is why I'm with First Place Bank).  Below is an explanation ...