First Lenders Mortgage

Happy first day of summer! June 20 marks the beginning of our favorite season. Whether it's hosting backyard get-togethers, savoring meals al fresco, or finding the perfect shady spot to relax in, there's so much to look forward to ☀️

As the season gets underway, remember that our team is here to help with any questions or needs you may have. Feel free to reach out anytime!

Now, for the important question. We want to know – what’s your favorite summer activity in our area? Share in the comments below!

Today, we send our warmest wishes to each of you, as we collectively pause to honor the father figures who have offered us guidance, wisdom, courage, and love.

Whether you're celebrating surrounded by loved ones or cherishing memories of times past, we hope your weekend is filled with joy and gratitude.

From all of us, Happy Father’s Day.

🇺🇸 In honor of Memorial Day, our office will be closed. We will be back to our regular hours starting Tuesday, May 28.

We invite you to join us in remembering that Memorial Day is more than just a long weekend. It's a time for us to come together and honor those who have made the ultimate sacrifice for our freedoms.

Wishing everyone a safe and meaningful Memorial Day weekend.

It’s no secret that the real estate market has been tough for many Americans over the past few years, which makes us even happier to share some good news with you all 🎉

For 2024, the Federal Housing Finance Agency (FHFA) has increased the baseline conforming loan limit (CLL) for single-unit properties. Swipe through to learn how this could impact your homebuying journey ↩️

Have questions about conforming loan limits? Give our office a call – we would be happy to assist.

Today, we're tackling a question we often get from prospective homeowners: "What is the loan-to-value (LTV) ratio, and why does it matter?"

LTV is a crucial factor in the mortgage process — and something everyone shopping for a home should understand. With that in mind, swipe for an overview of LTV ↩️

Have additional questions? Give us a call. We’d love to chat! 🏡

We often see aspiring homebuyers mix up home appraisal and inspection during the mortgage process. They’re easy terms to mix up, but it’s important to understand the difference between the two, as home appraisals are key to securing a mortgage.

To clear up any confusion, we're here with a Q&A session. Swipe through for an overview of home appraisals and the role they play in your home-buying journey ↩️

Have questions? Drop them in the comments, and reach out to our team of experts if we can be of further help.

Regularly unplugging is always a good idea, when it comes to life… and to appliances 🔌 As you might have guessed, we’re sharing another energy-saving tip for these warm-weather months 🔥

This one is applicable throughout the year but bears repeating:

❄️ Today’s Cool Tip ❄️ Take note of how you’re using common appliances in your house. Regularly unplug unused appliances, try washing clothes in full loads only and with cold water, and consider more energy-efficient home lighting options such as LED bulbs.

This is the final post in our series, so we hope you have enjoyed these energy-saving tips!

Did we miss an important one? If so, drop it in the comment section below!

Ever feel confused by real estate jargon? 😵‍💫

In the world of homebuying, the terms "prequalification" and "preapproval" are known to confuse folks. Let's dive deeper to understand their significance and how they impact your journey to homeownership! 🧭

Swipe through for the definitions of each! ↩️

Have questions? Drop them in the comments🏡

Spring is the perfect season for new beginnings – especially when it comes to finding your dream home! 🏡 Historically, spring brings a vibrant array of homes to the market, offering a wealth of choices for every aspiring homeowner.

If you or someone you know is in the market for a new property, our team is here to help. Let's chat and make your housing dreams a reality this season! 📞🏠

Happy Easter, everyone! Wishing each of you a fantastic celebration with your loved ones, full of egg-citement, chocolate bunnies, and maybe a Peep or two 🥚🍫

On the note of celebrations, are you doing anything special for the holiday? Let us know in the comments — we’re all “ears!”

Hello, springtime🌼 With spring officially arriving last night, today marks the first full day of this season of warmer breezes, blooming flowers, and sunnier skies!

Help us welcome this time of renewal, growth, and sunshine by commenting your favorite spring rituals and activities below — we’d love to hear!

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mbshighway.com

Your dream home awaits! Reach out to our mortgage experts today by visiting our website: https://firstlenders.com/our-team/

Magic City Harvest proudly presents the 2nd Annual Kickoff Tailgate, an event that combines the excitement of game day, food and heartwarming spirit of community support. Visit https://magiccityharvest.org/tailgate/ for more information.

Housing construction initiations experienced an almost 4% increase in July, reaching an annualized rate of 1.452 million units. This figure was slightly below the anticipated estimates. The increase in July appeared more significant due to a downward revision in the June data; without this revision, housing starts only showed a 1% rise. Comparing year-over-year data, housing starts have shown a 6% increase. Notably, the crucial category of single-family housing starts recorded a 6.7% growth last month, reaching a pace of 983,000 units. However, there was a revision to the previous month's data, indicating that single-family starts are actually 1.4% lower than initially reported. Looking at the yearly comparison, single-family starts have surged by 9.5%.

Moving to housing permits, which provide insight into future housing supply, there was no change last month, maintaining an annualized rate of 1.442 million units. This marks a 13% decrease from the previous year. Specifically for single-family permits, there was a 0.6% increase last month, contributing to a 1.3% rise in the year-over-year comparison. (Source: MBS Highway)

Whether you're purchasing a new home or contemplating a refinance, First Lenders is available to assist you in finding the perfect mortgage solution customized to your requirements. Get in touch with the knowledgeable professionals at First Lenders now.

For more information, visit https://firstlenders.com/our-team/.

In August 2023, the Housing Survey conducted by MBS Highway revealed a continuous decrease in buyer activity levels, as well as a decline in pricing pressure and sales pace across the entire nation, marking the third consecutive month of such trends. These shifts can be attributed to both the usual seasonal patterns and the impact of mortgage rates exceeding 7% and limited inventory availability.

Nevertheless, it's important to note that the residential real estate market remains significantly more competitive compared to the same period last year. Additionally, the Mid-Atlantic, Northeast, and Midwest regions continue to experience high levels of demand and activity. (Source: MBS Highway)

With a fast and reliable mortgage team, First Lenders is ready to guide you through each stage of the process—allow us to lead the way. Contact our team today. Visit: https://firstlenders.com/our-team/

Save the Date: August 28 - Links Fore Scholars Golf Tournament! Join for a day of golf, community, and making a difference at the beautiful Inverness Country Club in Hoover, AL!
📅 Date: Monday, August 28, 2023
⏰ Time: 8:30 am - 2:00 pm
🏨 Venue: Inverness Country Club, 1 Country Club Dr., Hoover, AL 35242

For more information, visit http://hooverchamber.org/events

Established in 1988, First Lenders Mortgage Corporation operates from Albertville and Homewood, catering to clients across Alabama. Connect with our dedicated team at First Lenders to explore your financial opportunities and secure your future. Visit: https://firstlenders.com/our-team/

In June, the number of new homes being sold went down by 2.5%, reaching a pace of 697,000 units. This decrease is more significant when considering that May's numbers were adjusted downward, making the actual drop in sales 8.7%. Despite this decline, sales are still higher than they were in the past two months. Compared to last year, new home sales have gone up by 24%.

By the end of June, there were 432,000 new homes available for purchase. At the current rate of sales, it would take around 7.4 months to sell all of them, which is a bit longer than the previous estimate of 7.2 months. However, out of those homes, only 72,000 were fully built and ready for occupancy. Looking at the speed at which homes are being sold compared to how many are actually ready to move into, there's only a supply lasting 1.2 months. This means that there's a high demand for new homes, and builders are essentially selling homes before they're even built. Impressively, 164,000 of the homes that were sold hadn't even been started in terms of construction.

The typical price for a home was reported to be $415,000, showing a 4% decrease compared to the previous year. It's important to note that this number might not accurately represent the actual trend in home prices due to the mix of different types of sales. However, official reports on appreciation indicate that home prices have started to increase once more. (Source: MBS Highaway)

Come together with the communities of Homewood, Mountain Brook, and Vestavia Hills for a Patriot Day Ceremony on September 11th at SoHo Plaza. (Photo from Homewood Chamber of Commerce Facebook)

Whether you're in the process of buying a new home or considering refinancing, First Lenders is here to guide you towards the ideal mortgage plan tailored to your needs. Contact the experts from First Lenders today. Visit https://firstlenders.com/our-team/.

Brace yourself for a day of engaging Casino Night fundraiser hosted by the Homewood City Schools Foundation at Rosewood Hall on September 16! (Photo from Homewood City Schools Foundation Facebook)

The latest data for May from Case-Shiller and FHFA indicates a sustained robust increase in national home prices, with both indexes recording a 0.7% month-over-month rise. The FHFA index achieved a new record high, while the Case-Shiller index is only 0.9% away from its peak in June 2022. (Photo from MBS HIghway)