This week I’d like to share information regarding loans.  Many of my clients choose to use financing to purchase property.  This article will review several of the more common loan and lender types.  I hope this is helpful for everyone!




These loans can be fixed rate, adjustable or balloon loans.  They can be conforming or non-conforming.  A conforming loan falls within the rules set by Freddie Mac and Fannie Mae. 


Conforming loans are mortgages that conform to financing limits set by the Federal Housing Finance Agency (FHFA) and meet underwriting guidelines set by Fannie Mae and Freddie Mac, whereas nonconforming loans do not.  Conforming and nonconforming loans are both types of conventional loans.

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We have 6 more weeks of winter this year – according to Punxsutawney Phil.  I was curious about the accuracy and history of Phil’s predictions so I did a little research I’d like to share with you.


Since 1887, Phil and his predecessors have predicted 103 forecasts of more winter and 20 early springs, according to Stormfax Almanac (no records exist for nine years).  Live Science did an analysis of the data and concluded Phil’s six-week predictions have been correct just 39% of the time.  Over the past 10 years, Phil has upped his accuracy to 50%, according to NOAA, nailing his prediction in 2020, 2016, 2014, 2013, and 2011.


While Phil gets the bulk of the attention and headlines, his New York City rival — Staten Island Chuck — also gets…

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