New 2025 Conventional Loan Limits – $795,000 Effective with locks taken after 9/25/2024 Applies to standard Fannie Mae and Freddie Mac eligible programs Loans with AUS Approve/Ineligible or Accept/Ineligible (ineligible for loan limits only) are eligible for delivery and will…
Buydowns are available on Conventional, FHA, VA, and USDA non-specialty 30 year fixed purchase loans. Options include: 3/2/1 ; 2/1 ;1/1 or 1/0 Not eligible on investment properties Minimum 640 FICO required on government loans Buydown funds must be paid…
Lender Paid Buydowns for your borrowers on Conventional Conforming Fixed Rate Loans now available! Optimal Blue has a new field to help price the loans properly; Buydown Contributor. The Buydown Contributor will default to “Seller” * in the Optimal Blue system. As…
Affordable Lending-Announcement
GMFS will waive all Investor LLPAs on Conventional loans if the loan meets the below requirements. First Time Homebuyers: • Any borrower on the loan is a first time homebuyer • Qualifying Income based on the Area Median Income is…
GMFS has now released 2 NEW Temporary Buydown Options and they are now available! Buydowns are available on conventional, FHA, VA, and USDA non-specialty 30 year fixed purchase loans. Options include: 3/2/1 ; 2/1 ;1/1 or 1/0 Not eligible on investment…
New 2023 Conventional Loan Limits – $726,200 New 1-unit limit $726,200 in most of the United States Applies to standard Fannie Mae and Freddie Mac eligible programs DU Approve/Ineligible or LPA Accept/Ineligible for loan amount only is required No change…
New 2022 Conventional Loan Limits – $647,200 New 1-unit limit $647,200 in most of the United States 2-unit: $828,700 3-unit: $1,001,650 4-unit: $1,244,850 Start using today! To see if your existing lock is eligible for changes, contact the lock desk…
As we continue to work through disaster recovery from Hurricane Ida, the Lock Desk is making certain accommodations to help you and your borrowers. We ask that you work through your pipeline and notify the lock desk of any locks…
In accordance with the new FHFA announcement, GMFS pricing has been updated with the removal of the adverse market fee for all applicable conventional refinances effective with new locks immediately.
Great News About Conventional & Government Rates Conventional & Government Rates at 2.99% and 3.99% When submitting your lock request please lock at the interest rate just above what you are looking for and we will adjust your price by…
GMFS is pleased to re-introduce the Conventional Purchase Advantage Program with the Capital Area Finance Authority (CAFA). Borrowers can receive an assistance amount of 3% or 4% on Conventional Loans. The assistance may be used for down payment, closing costs,…
Pick Your Own Loan Term – Now Available on Most Conventional Products GMFS is excited to offer the ability to do NonStandard Loan Terms on most of our Conventional Loan Programs. When you are searching for your loan you will just…
Ring in the New Year with Bonus Pricing! GMFS is ringing in the New Year with 25 BPS bonus in pricing for conventional purchases to kick off 2021! Take advantage of this bonus pricing while it lasts. For a limited…
As business and the market slowly begin to move toward a sense of normalcy since the COVID-19 crisis, GMFS has started to make adjustments to expand the credit availability and improve pricing for your borrowers. See below for change to…
FHFA recently announced refinance and home purchase eligibility updates for borrowers in forbearance. This announcement is for conventional loans only. Borrowers are immediately eligible to refinance or buy a new home if they participated in a forbearance plan but continued…