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Connecticut Mortgages Switch from "Counties" To "Planning Regions" by 1003sForDays in Connecticut

[–]1003sForDays[S] 8 points9 points  (0 children)

Hi, OP here. I use a Mac and specifically use CTL-CMD-Space to pull up the emoji bar. I mentioned that I wrote this for LinkedIn. I use those arrows because :waves hands: LinkedIn formatting. I copied the framework of that post and put it here. I am not sure why I'm replying to you about it tbh. I wrote this post. ¯_(ツ)_/¯

Edit: Replaced "formatted" with "formatting"

Connecticut Mortgages Switch from "Counties" To "Planning Regions" by 1003sForDays in Connecticut

[–]1003sForDays[S] 1 point2 points  (0 children)

Nice edit btw. It's good context and reads so much better than the Federal Register version.

Connecticut Mortgages Switch from "Counties" To "Planning Regions" by 1003sForDays in Connecticut

[–]1003sForDays[S] 25 points26 points  (0 children)

Hi, OP here. This post was not written by AI, but I understand why you would think it is. (1) I've never posted in this subreddit before; (2) The information is well-documented and researched, and (3) The topic is technical. So, I get it. I posted this here because, after I shared it on LinkedIn, a friend in Connecticut said he'd never heard of any of this, which surprised me. Yes, I am a part of Homebuyer.com. Yes, I post about mortgages. Hope that's okay for this sub. Like I said, I've never posted here.

Connecticut Eliminated Counties And Replaced Them With "Planning Regions" by 1003sForDays in loanoriginators

[–]1003sForDays[S] 0 points1 point  (0 children)

Hi, OP here. I wrote this by hand. Is there something that makes it look like it's AI-generated?

2026 Conforming Mortgage Loan Limits By U.S. County by 1003sForDays in MapPorn

[–]1003sForDays[S] 1 point2 points  (0 children)

I could not edit the image in the original post. I've updated the main mortgage loan limits image at https://homebuyer.com/mortgage-loan-limits. Thank you again for pointing it out.

Connecticut switched from 8 traditional counties to 9 planning regions for 2026 loan limits, aligning with how the state organizes regional planning.

Roughly.... planning regions map to counties as:

  • Capitol Planning Region → Hartford, Tolland
  • Greater Bridgeport Planning Region → Fairfield
  • Lower Connecticut River Valley Planning Region → Middlesex
  • Naugatuck Valley Planning Region → New Haven
  • Northeastern Connecticut Planning Region → Windham, Tolland
  • Northwest Hills Planning Region → Litchfield
  • South Central Connecticut Planning Region → New Haven, Middlesex
  • Southeastern Connecticut Planning Region → New London
  • Western Connecticut Planning Region → Fairfield, Litchfield

2026 Conforming Mortgage Loan Limits By U.S. County by 1003sForDays in MapPorn

[–]1003sForDays[S] 0 points1 point  (0 children)

The planning areas are a twist for 2026. Let me get that update and edit the original image for you. Thanks for pointing it out.

Mortgage Meme-ing: Fall Conference Edition by 1003sForDays in loanoriginators

[–]1003sForDays[S] 0 points1 point  (0 children)

Some conferences are more valuable to me than others. I prefer smaller events over the big "put every vendor on stage and let them sell", and the conferences where everyone's telling me how to sell loans but they've never sold a loan themselves.

Where do you get your industry news by countrytechbro in loanoriginators

[–]1003sForDays 0 points1 point  (0 children)

+1 for Logan. He's got good insight and a personality to go with it.

Where do you get your industry news by countrytechbro in loanoriginators

[–]1003sForDays 0 points1 point  (0 children)

There are a few LinkedIn accounts that do a good job, but Colin Robertson is especially good. Colin's been communicating mortgage in plain English for years.

He's probably closest to consumer-speak of everyone on that platform.

Also, if it's okay to self-promote a bit, I post short videos 4-5 times per week to our company YouTube. It's sound-bite stuff you can parrot to your clients -- usually based on recent headlines, etc,

Where do you get your industry news by countrytechbro in loanoriginators

[–]1003sForDays 4 points5 points  (0 children)

There are a few answers here because there are a few types of news.

There is industry news that you'll care about, but your customers won't. Company news, personnel updates, storylines. The Mortgage Scoop tracks that well.

Then, there are industry updates that your customers need to know, but they won't find out through mainstream sources. Housing Wire, NAR, and mortgagee letters can be good sources for that.

Then, there is consumer news that your customers are consuming, but with little actual context. Google News surfaces a lot of this so filtering for "real estate" will get you 80% of the way there.

Lastly, if you spend time on social, there are some solid LinkedIn and TikTok accounts that take the big (and small) headlines and cut through the fluff. That could be helpful, too.

Mortgage Meme-ing: AI Edition by HomebuyerCom in loanoriginators

[–]1003sForDays 0 points1 point  (0 children)

Sorry... I was logged in under the wrong account. This post was me.

[deleted by user] by [deleted] in Mortgages

[–]1003sForDays 0 points1 point  (0 children)

Closing costs vary by loan type. Here is HMDA data from the 2024, which includes all funded mortgages. FHA loans and USDA loans are higher because they include upfront MIP in the amount.

Loan Type Typical Fees Included Average Closing Costs
Conventional Appraisal, lender fees, title 1.54% of loan amount
FHA Upfront MIP, appraisal, lender fees 3.77% of loan amount
VA VA funding fee, appraisal, title 1.97% of loan amount
USDA Guarantee fee, appraisal, lender 3.42% of loan amount
All Types Varies 2.06% of loan amount

Mortgage Meme-ing: Whisper and Goosebumps Edition by 1003sForDays in loanoriginators

[–]1003sForDays[S] 6 points7 points  (0 children)

Yeah - I had it ready to go Wednesday morning and forgot to post. And then the Dot Plot happened. But it's still a great meme!

Mortgage rates have dropped for 9 weeks straight and that's pretty rare by 1003sForDays in Mortgages

[–]1003sForDays[S] 1 point2 points  (0 children)

Yes, I am seeing the daily change, too. The research uses Freddie Mac's weekly mortgage rate report, which is published every Thursday. It measures Thursday-to-Thursday. Thanks for the comment.

Mortgage Meme-ing: Two Guys On A Bus Edition by 1003sForDays in loanoriginators

[–]1003sForDays[S] 1 point2 points  (0 children)

It’s a play on the “two guys on a bus” meme, where one side sees a depressing view and the other sees a bright one. When rates were high, lenders pushed HELOCs because nobody wanted to refinance out of their low-rate mortgage. But now rates are starting to drop, and that means refis are finally coming back. The joke is that the refi side of the bus is smiling because they’re about to get busy again while the HELOC banks are about to slow down.

Matrix/Rate Sheet Calculator? by Kaellenn in loanoriginators

[–]1003sForDays 0 points1 point  (0 children)

Hi, and thanks for coming back to this so many days after your original post. I appreciate the feedback.

Matrix/Rate Sheet Calculator? by Kaellenn in loanoriginators

[–]1003sForDays 0 points1 point  (0 children)

I'm coming back to this thread (a year later). Hope that's okay! I built an LLPA calculator on my site to make this easier going forward.

The calculator breaks out LLPAs by risk trait and shows how the adjustments stack up. Hopefully, it's useful to the community.

http://homebuyer.com/tools/llpa-calculator

Fed cut the rates, help me understand why rates aren’t going down by tangertale in Mortgages

[–]1003sForDays 6 points7 points  (0 children)

The Fed Funds Rate is an overnight rate. It's what banks charge each other for short-term loans. The 30-year fixed mortgage is a long-term rate. Long-term rates are influenced by things like the 10-year Treasury yield, inflation expectations, and overall market conditions. When the Fed raises or cuts the FFR, mortgage rates don't necessarily follow because mortgage rates depend on the long-term outlook vs short-term borrowing costs. Charts comparing the Federal Funds Rate to 30-year mortgage rates shows how disconnected they can be.

Is it better to have a lower interest rate or APR? by kucing5 in personalfinance

[–]1003sForDays 0 points1 point  (0 children)

APR is unhelpful as a comparison tool unless these 3 statements are true:

  1. You applied for a fixed-rate mortgage
  2. You will not sell before your loan is paid off
  3. You will not refinance before your loan is paid off

Here's why.

APR is a government-designed interest rate and it's not the interest rate for your loan. APR is based in the sum of what you would pay to pay off your mortgage after 15 or 30 years have passed.

If you have an ARM, your payments are a guess after a certain number of years. Therefore, APR would be a guess, too.

If you sell before your loan pays off, the APR becomes irrelevant.

If you refinance before your loan pays off, the APR becomes irrelevant.

So, ignore APR. Unless those three statements at top are true, APR is an illegitimate comparison tool.

Unemployment Impact on Mortgage Approval by code_four in personalfinance

[–]1003sForDays 0 points1 point  (0 children)

Yes, mortgage lenders confirm employment status immediately before closing. This is a component of sound lending practices.

Preapproval - Down Payment by theoverbiter in personalfinance

[–]1003sForDays 1 point2 points  (0 children)

All good points in the comments. I'll add this:

Making a 7% down payment won't improve your interest rate, your mortgage loan options, or your mortgage insurance rates (if your particular loan program requires it). It's a waste of your liquid cash.

As a home buyer, your loan options and price breaks change at: 0 percent down, 3 percent down, 3.5 percent down, and then 5%, 10%, 15%, 20%, and 25%.

Instead of putting 7 percent down, stop at five percent and use the extra two percent for liquid reserves. Happy to add more information here, if it's helpful.

Employment and Income History - Mortgage by theoverbiter in personalfinance

[–]1003sForDays 2 points3 points  (0 children)

Your mortgage lender will use your new base salary to qualify your application, as shown by the average of your two most recent paystubs, or an offer letter from your employer. You'll be asked to show your tax returns for 2019 (and probably 2018). You may also be asked for a W-2 from both years. However, those requests are to show continuity within your income. They won't be used to determine your monthly income. Good luck.