Saturday Strategy
Mortgage FAQ's, did you knows and much more...
New Build Financing Insights
In the current market, some new build lenders offer substantial credits to lower interest rates. While this may seem appealing, it's crucial to evaluate the long-term implications. We recently reviewed a client's loan estimate with nearly $40,000 in credits to reduce interest rates, but the home's price was only $380,000. Essentially, they were paying almost 10% more for the house upfront. Yikes! Check out this weeks Saturday Strategy Video
Check this out... the Annual Percentage Rate (APR) exists to reflect the true interest rate. In some cases, it can be deceptively high, around 11 to 13%+, due to excessive upfront costs.
Don't rush into decisions. The lowest rate with the wrong strategy can cost you thousands.
A Win for Borrowers and Lenders: Congress Moves to Curb Abusive Trigger Leads
The mortgage world just took a major step forward in protecting consumers and mortgage professionals alike. In a unanimous 46-0 vote, the House Financial Services Committee approved H.R. 2808, a bipartisan legislation aimed at ending the misuse of mortgage “trigger leads.” This marks a significant win for the industry and an even bigger win for…
📉 Market Stability. Growing Inventory. Buyer Advantage?
QUOTE OF THE WEEK “What’s the use of happiness? It can’t buy you money.”—Henny Youngman, English-born American comedian and musician NATIONAL MARKET UPDATE The Mortgage Bankers Association (MBA) reported “purchase applications were 20% ahead of last year’s pace, continuing to show strength” last week, as “homebuyers seem to be taking advantage of loosening housing inventory.” The MBA…
Your House Didn’t Sell. Here’s What To Do Now.
Thursday June 12th, 2025 When your house doesn’t sell, it doesn’t just feel frustrating – it feels personal. You put time, money, and emotional energy into this move. You told your friends and family it was happening. And now that your listing has expired without a buyer? You’re left feeling stuck, and maybe even a…
Is Inventory Getting Back To Normal?
Wednesday June 11th, 2025 After years of it feeling almost impossible to find a home you want to buy, things are changing for the better. Nationally, inventory is growing, and that gives you more options for your move. But here’s what you need to know. That level of growth is going to vary based on…
The Five-Year Rule for Home Price Perspective
Tuesday June 10th, 2025 Headlines are saying home prices are starting to dip in some markets. And if you’re beginning to second guess your plans based on what you’re hearing in the media, here’s what you need to know. It’s true that a few metros are seeing slight price drops. But don’t let that overshadow…
Buying Your First Home? FHA Loans Can Help
Monday June 9th, 2025 For Buyers, First-Time Buyers, Mortgage Rates, Affordability, Buying Tips If you’re a first-time homebuyer, you might feel like the odds are stacked against you in today’s market. But there are resources and programs out there that can help – if you know where to look. And one thing that can make homeownership easier to achieve?…
📊 Inventory Hits Post-Pandemic Highs as Buyers Stay Active 🏡
Inside lending – For the week of JUNE 9, 2025 QUOTE OF THE WEEK “In theory, there is no difference between theory and practice. In practice, there is.”—Yogi Berra, American professional baseball player, manager, and coach NATIONAL MARKET UPDATE In May, the total number of listings topped 1 million homes for the first time since…
The Big Difference Between Homeowner and Renter Net Worth
If you’re currently renting, you’re not alone—and you’re not wrong for doing it. But if building long-term wealth is one of your goals, it’s worth understanding the financial advantage that homeownership can bring. Homeowners Build Wealth—Renters Don’t According to the Federal Reserve, the average net worth of a homeowner is $396,500, compared to just $10,410…
HOW TO TELL YOU’RE DONE WITH RENTING AND READY TO BUY
Are you ready to make the leap from renter to homeowner? Buying a home may seem more complicated than paying rent once a month. Yes, there’s some work that goes into purchasing a home, but we can make the financing part simpler, and a good buyer’s agent will ease the rest of the process. In…
Understanding Today’s Mortgage Rates: Is 3% Coming Back?
Wednesday June 4th, 2025 For Buyers, First-Time Buyers, Mortgage Rates, Buying Tips A lot of buyers are pressing pause on their plans these days, holding out hope that mortgage rates will come down – maybe even back to the historic-low 3% from a few years ago. But here’s the thing: those rates were never meant to last. They were…
P.S. Can I count on you to contact me if you hear that a friend, family or coworker is looking to buy, sell or refinance? Call/Text 480.553.8770 - We'd be honored to help them too!