Mr. and Mrs. Mortgage

Big news out of today’s Federal Reserve meeting! For the first time since 2020, the Fed lowered interest rates by 0.5%. Mortgage rates may soon fall as well.
If you’ve been waiting for rates to drop to buy or refinance a home, now could the time to act! Let’s connect to talk about what this could mean for you.

Top Tip for Savvy Buyers: Get Pre-Approved!

Why Pre-Approval Matters:
1️⃣ Know Your Budget: Understand exactly how much home you can afford and avoid falling in love with homes outside your price range.
2️⃣ Stronger Offers: A pre-approval shows sellers you are serious and financially ready, making your offer more attractive in a competitive market.
3️⃣ Faster Closing: With financials already in order, the closing process becomes quicker and smoother, getting you into your new home faster.
4️⃣ Interest Rates: Lock in an interest rate early and protect yourself against rate hikes while you search.
5️⃣ Negotiation Power: Pre-approval can give you leverage during negotiations, potentially saving you money.

Ready to take the first step toward homeownership? Contact us to get pre-approved and start your home search with confidence!

Attention: Amazon shoppers!

Amazon Prime Day is NEXT WEEK, and it's time to snag incredible deals on my favorite home products. From game-changing gadgets to must-have essentials, I've handpicked a selection that'll elevate your living space and make your life a whole lot easier

Get ready to jump on these items this Prime holiday.

Nutri Bullet Blender - your partner in crime to whip up those refreshing summer smoothies!

Silicone oven mitts - say bye to those stained fabric mitts and hello to your new favorite kitchen sidekick.

Sleek Electric Kettle - Do you have a coffee or tea snob in your house? I get it! This electric kettle allows you to set different temperatures for maximum coffee or tea enjoyment. I love the option to “hold” the temperature.

Phillips Hue Smart Lighting - I never knew how much I’d love these smart lightbulbs. With tons of different colors (hello-themed parties!) and a timer, I’m able to set the ambiance in my home at the click of a button on my smartphone.

What home products are you most excited to shop for on Amazon Prime Day? Let me know in the comments below. Happy shopping!

The stat is out there: the average American buys their first home at 36.
But what if your dream home is calling to you sooner (or later)?

Life throws a lot our way, and buying a house is a big decision. Saving for a down payment, navigating the market, and feeling confident – it all takes time, and that's perfectly okay!

Here's the good news:
There's no one-size-fits-all timeline for homeownership. Whether you're starting to budget for a down payment or just curious about the process, we're here to be your guide.

Here's what we can help you with:
• Understanding your financial readiness: Let's explore your budget and see what kind of loan might be a good fit for you.
• First-time homebuyer programs: There are resources available to help you with down payments and closing costs.

Buying a home is a journey, not a race. Let's take it one step at a time and make your dream a reality, whenever you're ready.

Contact us today for a free consultation, and let's chat about your homeownership goals!

Wishing you a spectacular Fourth of July filled with joy, laughter, and cherished moments with loved ones! 🎇✨ As we celebrate the birth of our nation, let's also celebrate the freedom and opportunities that make this country so special. May your day be filled with BBQs, fireworks, and the warmth of home!

“What are the steps to be in a home by year’s end?”

This is a common question I start to hear this time of year.

Here’s a simple roadmap:
If your 2024 to-do list says “buy house” - you’ve got the perfect amount of time to be settled into a new home by the holidays.

July:
✓ Reach out to a lender for a buyer consultation to make a game plan for your finances.

August:
✓ We'll nail down your home price range and pre-approval letter - typically good for 90 days.

September:
✓ Connect with a realtor. Make a Wants vs. Needs list, browse listings, scope out open houses, and begin your home explorations. (DM me for some recommendations!)

October:
✓ Narrow down favorites and submit your offer(s) with the help of your agent.

November:
✓ Seal the deal on your new place and wrap up paperwork by month's end.

December:
✓ Move in, deck the halls, and enjoy the holidays in your new spot!

The TL;DR:
Reach out to us ASAP! You’ve got the perfect amount of time on your hands to be home for the holidays!

BIG NEWS! HUGE!

Ready to jump into buying a home but concern over mortgage payments have you treading water? PrimeLending’s Summer Splash Buydown program lowers your mortgage payments for the first year. That makes buying a home more affordable. This 1-0 temporary buydown* uses funds we deposit in an escrow account to effectively reduce your interest rate for the first year of your FHA, VA or USDA mortgage. Lower payments in the first year of homeownership can help you manage your budget and prepare for when your payments return to a standard fixed rate after the first year. Plus, with PrimeLending, you’ll pay No Lender Fees** on VA loans! I’m available to talk you through all the details.

Contact me today and mention promo code SUMMER SPLASH to get started.

*BuyDown 1-0 Option will be paid by PrimeLending. Rate discount applies only to first year. Must apply for and lock loan through PrimeLending by 8/31/24 and loan must close by 12/31/24. Savings will reflect on the Closing Disclosure. Offer only available for FHA, VA, and USDA purchase loans. Excludes bond, broker, conventional products, high balance, jumbo products, portfolio products, construction loans, and refinances. Offer can be paired with PrimeLending VA No Lender Fees promotion, all other promotions are excluded. Certain loan programs do not allow buydowns. Additional restrictions may apply, contact a PrimeLending loan officer for details. **All lender closing costs such as origination, processing, underwriting, and closing will be waived, borrower is still responsible for third party fees such as VA funding fee, title, and appraisal etc. Down payment waiver is based on VA eligibility. This offer is valid until 12/31/2024. Savings only applies to direct originations made by PrimeLending for first mortgage purchase or refinance transactions, and is not available on loans obtained through mortgage brokers. Only one offer per loan transaction is available, and savings cannot be combined with any other offer or bond program other than the Summer Splash Buydown Promotion listed on this flyer. Savings will reflect on Closing Disclosure at closing.

As Loan Officers, we won't go a week without doing these activities! Here’s what we make sure to do every single week:

🔍 Market Research: Staying up-to-date with the latest market trends and economic outlooks.

📞 Client Check-ins: Keeping open lines of communication with our buyers and their realtors.

🤝 Networking: Building connections with other industry professionals to benefit buyers and our branch.

📈 Continuous Learning: Attending workshops and training to sharpen our skills and knowledge of new loan products.

These steps ensure that we provide the best possible service and results for you!!

I’ve been seeing this a lot lately… interior design choices that side step the trends and embrace a more timeless, lasting look.

Here’s what’s been catching my eye...

Navy blue - The universal comfort color. Design pros recommend pairing it with earthy jute rugs, rustic wooden end tables, and if you’re feeling adventurous - small pops of red!

Black and white design elements - I’ve been seeing lots of this color combo in bathrooms. One of my favorite looks is B&W hexagon tiles. The pros say high-contrast color palettes, especially black and white, will always stay in style. Beyond bathroom tiles, think about this color combo for walls and doors, wallpaper patterns, or pillows and fabrics.

Crown moulding - always feels elevated, traditional and timeless. It adds a boost of character and history to a home. Plus, it’s a fairly simple DIY project you may be able to tackle yourself.

Nods to family history - Homes that include familial decor pieces like a well loved chest of drawers, grandfather clock, writing table, or a model sailboat. It’s so unique and special to see a family’s history on display in a home.

What timeless looks are you seeing lately?

Source: Classic Interior Design Trends That Never Go Out of Style - Bless’er House

Happy Father's Day to Mr. Mortgage 😂 and happy Father's Day to all the goofy dads out there! You are appreciated more than you know!!

Curious about the current home shortage? Here are some general FAQs answered:

1️⃣ Why is there a home shortage? High demand and low inventory are driving up competition among buyers.
2️⃣ How does the shortage affect buyers? Buyers face limited options and increased competition, often resulting in bidding wars.
3️⃣ Are prices affected by the shortage? Yes, prices tend to rise in markets with low inventory due to increased demand.
4️⃣ What can sellers expect in a shortage? Sellers may benefit from quicker sales and potentially higher offers due to demand.
5️⃣ How can buyers navigate the shortage? Buyers should act quickly, be prepared with financing, and work closely with a real estate agent.
6️⃣ Will the shortage continue? While market conditions fluctuate, experts predict the shortage may persist in the near future.

Stay informed to navigate the current home shortage successfully and contact us if you have any questions! No matter the market, we're here to help!

Hey Buyers! If you're out and about and want to make an offer on a home - we are ready to help you out!

Realtors! Meeting buyers at open houses this weekend that need to get approved? We are on stand by to help!

Give us a call or shoot us a message. We are ready!!

Upgrading your backyard is a great way to increase both the value and the enjoyment of your home. Start the renovation process now to enjoy your outdoor space before winter comes. Now you just need to decide what you want. The most common backyard additions are a pool or an outdoor kitchen. Let's talk about the benefits of both!

Benefits of an outdoor kitchen and patio:
-Great for entertaining friends and family
-Increases the value of your home
-Expands your living space

Benefits of a pool:
-Great for parties of all ages
-Good for staying active and fit
-Refreshing on a hot day

When you're ready to finance your dream backyard, give me a call! We have home loan options to fit your needs!

I know it's exciting when you finally find a house you love and you’re getting ready to move! How you're going to decorate, what furniture you want to buy, etc. Here are some things NOT to do while you’re waiting to get to the closing table:

DON'T deposit large sums of cash
DON'T make any large purchases
DON'T cosign loans for anyone
DON'T switch bank accounts
DON'T apply for new credit
DON'T close any accounts
DON'T change jobs

Bottom line — everyone involved in the loan wants the process to go as smoothly as possible. Before you move money around or buy that new car while you're under contract on a home, always make sure you consult with ME, your lender!

The 5 Year Home Price Predictions Have Arrived

The Home Price Expectation Survey (HPES), a resource powered by Pulsenomics, outlines what experts forecast for home prices over a five-year period.

It includes projections from over 100 economists, investment strategists, and housing market analysts.

Swipe for the predictions and let me know below - do you agree or disagree?

NBA Finals start tonight! 🏀 Who is your pick to win the whole thing? Let us know who you're rooting for in the comments!

Hot take: The best time to buy a home isn’t summer.

There we said it!

It’s not when rates are low, or when your partner, your mom, your best friend, or the guy on YouTube says you should.

The best time to buy is when it’s right for you. It’s when owning a home and moving are part of your journey to the next chapter in your life. Full stop.

Nothing deflates a buyer's excitement quite like hearing those four words:

"Work on your credit."

You already know, credit is a BIG deal when buying a home. It's an indicator to lenders about how likely you are to make timely payments on your mortgage loan.
So, if you’ve heard these words or fear you might, don't stress! Here are a few things to focus on that will have a direct impact:

Keep credit card balances low: The pros say credit utilization should not exceed 30% of your available credit line. Aim to maintain low balances on your cards by paying down your balance ahead of your statement closing date.

Use credit wisely: Avoid opening multiple new credit accounts within a short period. It can indicate financial stress and may lower your score.

Keep old accounts open: Closing old accounts can reduce your overall credit history, which may negatively impact your score. Keep old accounts open if they are in good standing.

Check your credit report: Don't let errors derail your progress. Put eyes on your credit report every few months and dispute inaccuracies. Most credit cards let you perform a free credit check that's not considered a hard inquiry.

Want to talk more about credit? Send us a DM and let's chat!

Join us in honoring and celebrating our veterans who have served our country with bravery and sacrifice. We are deeply grateful for their dedication to preserving our freedom. Today, we remember and honor their extraordinary contributions.

Wondering how to know if you're ready to buy a home? Here's how our client knew:

1️⃣ Financial Stability: They had a stable income and savings for a down payment and closing costs.

2️⃣ Long-Term Plans: They envisioned staying in one place for several years, making homeownership a sound investment.

3️⃣ Pre-Approval: They got pre-approved for a mortgage, showing they were serious and ready to make offers.

4️⃣ Market Research: They researched neighborhoods and property values to find the right fit for their lifestyle and budget.

5️⃣ Emotional Readiness: They felt excited and emotionally prepared to take on the responsibilities of homeownership.

❤️ Trust your instincts and financial readiness when deciding if it's time to buy a home!

Considering renting out your property for extra income? Let's crunch some numbers!

Example Calculation:

Monthly Expenses:
Mortgage: $1,500
Property Taxes: $300
Insurance: $100
Maintenance: $200
Total Monthly Expenses: $2,100

Desired Monthly Profit:
Desired Profit Margin: 20% of expenses
Desired Profit: $2,100 x 20% = $420

Minimum Monthly Rent:
Minimum Monthly Rent = Total Monthly Expenses + Desired Profit Minimum Monthly Rent = $2,100 + $420 = $2,520

By calculating your monthly expenses and desired profit margin, you can determine the minimum rent you should charge to maximize your return.

Need help with the calculations or want to explore the finances of rental properties further? Contact us expert and personalized guidance!

The last thing we want for our buyers...

Being stretched too thin by their mortgage payments.

Finance experts wag their fingers at spending 30% or more of your gross income on housing.

But with 37.2% of homeowners grappling with this reality, if you're among them, you're certainly not alone.

Below are some methods I’ve seen implemented to reduce the burden

1.) See if you can ditch your private mortgage insurance. Your lender may be willing if your mortgage balance has reached 80% of your home's original value or the halfway point of your amortization schedule.

2.) Take a deep dive into your monthly spending to see where your money is going. For me, I found eating out and shopping to be an opportunity to cut back.

3.) Consider house hacking by renting out a bedroom, parking space, or a mother in law suite.

4.) Raise your income (Obviously this is much easier said than done) but there are a few creative ways to approach it. Whether it’s mustering up the courage to ask for a raise, exploring a new side hustle (hello Rover!), or up-skilling yourself with online courses.

5.) Keep an eye on interest rates. If they drop below what you're currently paying, refinancing could be a smart move.

Grab my guide for first time buyers - I cover everything a first time buyer needs to know.

Source: How To Get Rid Of PMI | Rocket Mortgage.
How Many U.S. Households Are Considered ‘House Poor’? – theMReport.com

If you’re a homeowner who has seen your property’s value increase over time, you may be wondering how you can take advantage of this increase and save money on you mortgage. One option to consider is cancelling your PMI (Private Mortgage Insurance), which can add a significant cost to your monthly payments. One factor in how PMI premiums are calculated is your loan-to-value ratio (LTV) at the time of purchase. As you make mortgage payments and reduce the loan balance, the LTV decreases, and as your home’s value appreciates, the LTV can also decrease. This is where the opportunity to cancel PMI comes in!

So how can you cancel your PMI? Reach out to your lender to ask about PMI cancellation requirements. You’ll likely need a new appraisal to show the evidence of the increased value in the time since you purchased you home as well. If you have questions about becoming PMI-free, send me a DM! I’d be happy to help!