Emily Coulter - Senior Loan Officer at CrossCountry Mortgage

🏡📋 Thinking about applying for a mortgage? Here are 4️⃣ essential tips to keep in mind for a smooth approval process:

1️⃣ 🚫💳 Hold off on opening new accounts. Opening new credit accounts can lead to hard inquiries on your credit report, which can temporarily lower your credit score. This could affect your mortgage approval and interest rates.

2️⃣ 🚫🗑️ Hold off on closing old accounts. Even if you’re not using them, older credit accounts contribute positively to your credit history and utilization ratio. Closing them can reduce your overall available credit and increase your utilization rate, potentially lowering your credit score.

3️⃣ 📅💵 Pay all your bills on time. Timely payments are a significant factor in your credit score. Late or missed payments can have a negative impact, making you appear less reliable to lenders. Set reminders or automate payments to ensure consistency.

4️⃣ 🤔💼 Be wary of employment changes. Job stability is crucial when applying for a mortgage. Lenders prefer borrowers with a steady employment history. Changing jobs or switching to a less stable position can raise red flags and complicate the approval process.

Follow these tips, and you’ll be well on your way to securing your dream home! 🏠✨

Super excited for our “Back to School” Homebuyer Workshop coming up next month. Most of us weren’t taught “How to buy a home” although it would have been very helpful, especially in today’s market. So, we invite you to our class where we will give you everything you need to know. Our goal is to provide you with the knowledge and information to help navigate you through the homebuying journey. We will even feed you so come with an appetite.

Since this is an in-person event and there is limited seating, we please ask you to register: https://www.eventbrite.com/e/homebuyer-workshop-tickets-699959135617?aff=oddtdtcreator

Please feel free to share this post.

Joyce Washington, Realtor
Emily Coulter - Mortgage Banker at Atlantic Bay Mortgage Group

Are you tired of feeling left in the dark when it comes to real-world financial decisions like buying a home? It's true, they don't teach us this crucial information in school. But fear not! We're here to empower you with the knowledge and tools you need to navigate the exciting journey of purchasing your dream home.

Our Homebuyer Workshop is designed to bridge the gap between classroom education and real-life financial decisions. Learn about market trends, mortgage options, negotiation strategies, and much more from our team of experienced professionals. You'll walk away with the confidence and insights necessary to make informed decisions and achieve your homeownership dreams.

Limited seating so please reserve your spot today!

Register at: https://www.eventbrite.com/e/homebuyer-workshop-tickets-699959135617?aff=oddtdtcreator

We're honored to be nominated for the Best of C-VILLE 2023 "Mortgage Lender" Award and we couldn't have done it without you! 🥳To help us win, we need your vote!
1. Go to: vote.c-ville.com/services or scan the QR code.
2. Scroll down to find "Mortgage Lender."
3. Select "ATLANTIC BAY MORTGAGE GROUP." We're at the TOP of the list! 😀
4. Click VOTE!
5. After voting, you will be asked to fill out a simple form by entering your name, zip code, and email address. Voting ends Friday, June 30th. THANK YOU for your help!

While you're at it, don't forget to vote for all your favorite local services and businesses! 💙

If you’ve been following the news about loan level pricing adjustments (LLPAs) lately, there was a BIG development recently!

The Federal Housing Finance Agency (FHFA) announced that it will not charge new upfront LLPAs for Conventional borrowers whose debt-to-income (DTI) is at least 40%.

This is a major win as these fees were scheduled to go into effect this month but were delayed due to concerns from borrowers and mortgage professionals.

I’ve been following the FHFA’s updates on this topic and can explain LLPAs and how they work if you have any questions. I’m only a click or call away!

http://www.EmilyCoulterMortgage.com

This tax season, invest in the American Dream by using your tax refund to:
- Pay down debt
- Contribute to your down payment
- Purchase interest rate discount points

Learn more ways your refund can help you finance your dream home in the newest article from the Knowledge Center: https://www.atlanticbay.com/knowledge-center/tax-refund-new-home/

Service in America’s Armed Forces is a sacrifice Atlantic Bay doesn’t take lightly. Military members and Veterans demonstrate the strength, wisdom, and determination that make our nation great. This Military Appreciation Month, we salute, celebrate, and THANK all our military members!

As you may have heard, the Fed recently raised interest rates by 0.25% during their May meeting. However, this doesn't mean mortgage rates have increased by the same amount!

Watch this video explaining what this new rate hike truly means for mortgages. And then give me a call if you have any additional questions!

WATCH HERE: https://atlanticbay.wistia.com/medias/whybvduetr



https://apply.atlanticbay.com/ #/create-account?referrerId=[email protected]

Thinking about an FHA loan? Buyer Boost helps you make FHA’s required 3.5% down payment through a 10-year repayable second mortgage. That’s 100% financing! Best of all, there are no income limits, and you don’t have to be a first-time homebuyer!

You can also use the DPA to save even more at the closing table:
· Closing costs
· Prepaids, including items paid outside of closing
· Can be used with FHA settlement cost allowance (up to 6%)
Still have questions or want to learn more? Give me a call!

Join us for a pep talk you NEED on maximizing your referrals! Referrals are critical and even more so in today's market. Rebecca Lorenz with Ninja Selling with give you tangible ways to rethink your business.

You will learn how:
To build a sustainable business
The power your mindset has on earning more referrals
How to earn more referrals from people that already know, like, and trust you!
The impact of consistency on your business
To follow up on referrals and WOW your relationships!

Get it on your calendar now! https://atlanticbay.zoom.us/webinar/register/WN_iHIr3GSYRba4nuNsAqEl6Q

Each petal on the shamrock brings a wish your way - good health, good luck, and happiness for today and every day. Happy St. Patrick's Day!

Here are a few highlights from our recent 2023 Economic Forecast with Barry Habib! Despite what you may be hearing, now is still a good time to buy. Call me to find out more!

New VA homebuyers will soon pay lower funding fees! Starting April 7, 2023, purchase, construction, and cash-out borrowers will pay 0.15-.3% less, depending on down payment and first or subsequent use. Atlantic Bay is excited to help more military borrowers achieve homeownership!

Contact me to learn more!

- http://www.EmilyCoulterMortgage.com

FHA Borrowers to Enjoy Lower Mortgage Insurance Premiums!
Starting March 20, 2023, HUD, through FHA, is reducing the required annual mortgage insurance premium rate from 0.85% to 0.55%!
• The new rate will benefit around 850,000 FHA borrowers over the coming year.
• The average FHA borrower will save roughly $800 annually.
• FHA’s 1.75% upfront premium is still required, but this can be financed into the FHA loan!
• A lower annual MIP can help more people qualify for a mortgage.
• The reduction applies to all eligible property types, including single-family homes, condominiums, and manufactured homes.

Ask me how to get started on your FHA loan!

Please join us for an open house tomorrow 1-3pm in the Forest Lakes neighborhood Charlottesville, Va. If you are shopping homes in this area we would love you to stop by and check it out!

I will be co-hosting along side Joyce Washington, Realtor and together we will be available to answer any of your real estate or lending questions. DM me if you’re looking to get pre-qualified this weekend!

While this doesn’t necessarily mean we're in a buyers’ market; it does mean you have a bit more leverage when it comes to negotiating with a seller.

Talk to your local real estate agent today to see what your options are!

Atlantic Bay’s new standalone home equity line of credit (HELOC) lets you borrow against your home’s equity to provide those funds! Contact me today to get started!

This approach is becoming a common negotiating tool, whether you use seller concessions to buy down your interest rate or use it to cover closing costs, you have options!

Reach out today to see if this could be an option for you.

This Valentine's Day, swipe right for a mortgage you’ll love!

I can help get you into a long-term mortgage relationship. Call, text, or DM me today to learn how I can help you commit to the home of your dreams!

Looking for a long-term mortgage relationship?

Atlantic Bay is committed to you and helping you finance your dream home. Call me today to learn more about how to get your dream home!

You're invited to Atlantic Bay's 2023 Economic Forecast with Brian Holland, Emily Farley and Barry Habib on February 13th!

Open to all industry partners! You don't want to miss it.

Register here: https://atlanticbay.zoom.us/webinar/register/WN_zEs9ot__RdyjQeY7FsNVGw

This season, keep the spirit of winter outside your home by decorating your living space with decor that’ll keep your family warm for the coming months!

Check out this article to learn more: https://www.atlanticbay.com/knowledge-center/warm-up-home-decor/

Cheers to ‘23!

As we round out the year, we feel grateful for the thousands of families who trusted us with their homeownership dreams. May the new year bring you opportunity and fill your home with happiness!

#2023

Gordonsville, Va 🤍

Downtown Gordonsville! So pretty with all the lights 🎄

May your home be filled with love and joy this holiday season!

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Starting December 21, 2022, homeowners with single-family mortgages financed through the Federal Housing Administration (FHA) can obtain flood insurance policies that comply with FHA requirements from private insurance providers.

In the past, only flood insurance obtained through the National Flood Insurance Program (NFIP) was permissible for FHA-insured mortgages, which presented limited options for homeowners.

Contact me today to learn more!



- http://www.EmilyCoulterMortgage.com

GREAT NEWS FOR HOMEBUYERS!

Virginia Housing announced on 12/1/2022 that qualifying debt-to-income ratios will increase to 50% from the previous 45%. This means homebuyers in Virginia have more flexibility in qualifying for a mortgage.

If you were previously denied a mortgage because your debt-to-income ratio was too high, give me a call!



- http://www.EmilyCoulterMortgage.com