Laurie Phillips, NMLS: 447743, PrimeLending

What Drives PrimeLending:
💼 We strive to provide you with the simplest mortgage process possible and our core values are how we do that. You can expect us to provide clear and honest communications while having the agility to pivot to find mortgage solutions that fit your needs. 🏡 You are the reason we love what we do, which is helping homebuyers and homeowners reach their home and financial goals. 💙

FHA Loan Update:
💸Using money gifted to you from friends or family toward your down payment? Have I got news for you. The Department of Housing and Urban Development (HUD) just simplified their process for documenting and proving your gift funds on FHA loans! 🏡 The flexibility of this HUD update can help make homeownership more accessible.

Ready to start your FHA loan application? Let's get you home! 🚪🔑

Use Equity for Major Purchases
Making purchases that have a big price tag? Tapping into your home equity could help you foot the bill. 💵 With a home equity loan*, you will receive a lump sum of cash you can use however you like. You can use that cash to:

🔨 Finance home renovations
🎓 Pay for educational expenses
💳 Manage high-interest debt
🚑 Cover unexpected expenses
✈️ Take your dream vacation

Call me today to discover loan options that help you tap into your home equity. 📞

*All credit decisions for brokered products will be made by a third party. Restrictions and limitations apply.

Start Investing in Real Estate:
Becoming a homeowner is more than buying a house, it’s investing in your future. 🏡✨ As a homeowner, you can build home equity which you can pass on to family members as a form of generational wealth. 🌟 Or, if you have the opportunity to purchase a second home, you could rent out the home you don’t reside to earn extra income. 💰

Monday Motivation:
🌟 Monday Motivation 🌟 You often feel tired, not because you’ve done too much, but because you’ve done too little of what sparks a light in you. This week, let’s focus on what ignites our passion and makes us feel truly alive. At PrimeLending, we're here to help you achieve your dreams and light up your path to homeownership. Let’s make it a great week! 💪🏠

Renovation:
Have you been wanting to renovate your home but just haven’t figured out how to finance it yet? 🏡💭A renovation loan can help you make the home repairs you’ve been planning for. Whether you want to increase your home’s value, add more space, improve features or make your home more energy efficient, a renovation loan can help you make those changes now.🔨✨

Prepare for Appraisal:
During a home appraisal, a certified professional will review a home and compare it to other homes in the area to determine it’s market value. 🏡Here are 6 things you can do to prepare for your home appraisal:

✨ Clean and declutter
🔧 Fix any obvious repairs
🌼 Enhance your curb appeal
📝 Be prepared to answer questions
🚪 Provide access to your home
📄 Provide documentation
While it may not the most exciting step of the mortgage process, it is an essential one. 🔑

Rates Kept You From Buying:
Need more from your home but not ready to give up the low interest rate you locked in? 🏠💡 You aren’t alone; many homebuyers who locked in low rates in 2021 have been hesitant to move. Instead of waiting for rates to drop, start making your current home fit your needs. After all, a perk of homeownership is being able to change it whenever you want. 🔨✨

You can start small by refreshing your paint colors, getting new furniture, or updating your flooring. 🎨🛋️ Or, if you’re in the mood for a total overhaul, you can redesign your kitchen, give your bathroom the spa treatment, or change the layout of your floorplan. 🛁🍽️

Assumable Loans:
Many homebuyers today are still holding out for the low rates 2020 and 2021 offered. 📉🏡 One possible solution is an assumable mortgage. An assumable mortgage is when a current homeowner transfers their outstanding mortgage to the new buyer at the originally agreed upon terms. 🔄💵 A mortgage like this is typically handled by the company servicing the current home loan. Please note that only FHA, VA, and USDA loans are assumable. Most Conventional loans prohibit assumption.​
When you have questions about the homebuying process, it helps to ask the experts.

Labor Day:
Happy Labor Day to the hard-working Americans, like you, who make a difference for their companies, co-workers and families. 💪
I hope you take time to celebrate your achievements today! 🎉🙌

🌟 Monday Motivation 🌟 "You can, you should, and if you’re brave enough to start, you will." Take that first step today towards your goals and dreams. Believe in yourself and embrace the journey ahead! 💪✨

Woof🐾💕



Post a pic of your furbaby in comments 🐾😉

What in a Rate?:
We all know that mortgage rates play a vital role in determining the affordability and overall cost of homeownership.🏠 What factors play into how rates are determined? Let's talk about what you can control and the things you can’t! 🔍
Out of your control:
Mortgage rates are closely tied to the overall state of the economy.🌐 Economic factors such as monetary policy, inflation, and economic growth help determine the cost of borrowing money for the consumer. 📉💼
What you CAN control:
Borrowers with a higher credit score indicate a lower risk to lenders, resulting in a more favorable mortgage rate. 📊💳 Additionally, borrowers with a larger down payment tend to have a lower loan-to-value (LTV) ratio. This measures the mortgage amount compared with the home's value. The lower the LTV, the less risk for lenders which means a lower rate to the borrower. 💰🏠
Have questions or want to know more about rates? Send me a DM! I'm happy to answer your questions! 💬

Open House Sunday 9/08 from Noon to 2:00pm in Kirkwood on Ponca Trails. Presented by Stonebridge Custom Homes. Beautiful Ranch overlooking the valley🏡

44 Ponca Trails Kirkwood MO 63122 Available for immediate possession! Outstanding ranch with finished lower level! 9' basement pour with 2 bedrooms -both are 13x11 with private baths. A large recreation room opens to the patio rounding out this finely finished lower level. Enjoy the huge covered deck area overlooking the Meramec Riv...

Mortgage rates are dropping! Now could be the perfect time to secure that dream home you’ve been eyeing. Don’t miss out on this opportunity – apply today and take the first step toward making your DREAM a REALITY! DM me today to learn more. Rates as of 08/13/24, subject to change.

$0 Down Pros & Cons:
A $0 down payment loan is exactly what it sounds like, a mortgage that does not require a down payment. Like any decision, there are pros and cons to a $0 down mortgage.

PRO — Buying a house with no money down means buyers won’t have to drain their savings to try to meet the down payment requirement. 🏡💰
CON — Typically, no down payment mortgages have a higher interest rate than traditional mortgages which can lead to larger monthly payments. 📈💸
PRO — You could get into a home sooner because you won’t have to save up a down payment. 🚪🔑
Have questions about down payments or $0 down loan options? Send me a DM — I'd love to chat! 💬📲

Finally Interest Rates are starting to come down!🎉🏡

Wait or Buy?
Holding out on buying a home in the hope of getting a lower interest rate? 🏡📉 I totally get it! Here are my thoughts on why waiting for rates to drop might not be the best idea if you can afford to buy.

Potential homebuyers priced out of today's market will be itching to buy if rates come down. 🏃‍♂️🏃‍♀️ You may want to avoid the competition from other buyers flooding the market.

Rates change, so do home and rent prices. 📈🏠 While you're waiting for rates to come down, housing prices may continue to rise which can make the overall cost of homeownership more expensive. You can lock in a steady mortgage payment now and enjoy the equity that you build in the years to come. 💰🔒

Deciding whether you want to wait or not depends on your individual circumstances. Chat with a financial advisor or send me a DM to help you weigh the pros and cons! 💬📊

Wait or Buy?
Holding out on buying a home in the hope of getting a lower interest rate? 🏡📉 I totally get it! Here are my thoughts on why waiting for rates to drop might not be the best idea if you can afford to buy.

Potential homebuyers priced out of today's market will be itching to buy if rates come down. 🏃‍♂️🏃‍♀️ You may want to avoid the competition from other buyers flooding the market.

Rates change, so do home and rent prices. 📈🏠 While you're waiting for rates to come down, housing prices may continue to rise which can make the overall cost of homeownership more expensive. You can lock in a steady mortgage payment now and enjoy the equity that you build in the years to come. 💰🔒

Deciding whether you want to wait or not depends on your individual circumstances. Chat with a financial advisor or send me a DM to help you weigh the pros and cons! 💬📊

Family Opportunity Loan:
The Fannie Mae Family Opportunity Mortgage allows a borrower to purchase a home with all the advantages of an owner-occupied loan, even when they do not plan to live in the house.
This is designed for an elderly parent with income that is insufficient to secure a mortgage for themselves. This creates a path to independent living and provides alternatives to assisted living and other expensive housing/care options.

Monday Motivation:
Happy Monday! 🌟 Here's some motivation to kick off your week: Don't let your problems prevent you from finding your proper people.
Everyone faces challenges, but it's important to remember that the right people can help you overcome them. Your tribe will support you, inspire you, and uplift you. Seek out those who understand your journey, share your vision, and celebrate your successes. Surround yourself with positivity and watch how much easier it becomes to navigate through life's obstacles.
Stay focused, stay motivated, and keep moving forward. Your proper people are out there, and together, you'll achieve amazing things! 💪✨

Co-Signer vs Co-Borrower:
Co-Signers and Co-Borrowers have become a smart and effective way for parents and family members to help children and other family members purchase homes in this ever-changing market.
This can improve a borrower’s ability to qualify and create opportunities for generational wealth.
Contact me to review the differences between a Co-Signer and Co-Borrower and to determine how this can help your family!

Renovation:
🏠 Struggling to find your dream home in this low inventory market? Don't fret! With a renovation home loan, you can turn any house into your dream home. Whether it's adding a cozy fireplace, expanding the kitchen, or creating a serene outdoor oasis, let's make your vision a reality. 🔨✨

Myth of Down Payments:
Ready to make your down payment and call it a day? Ah, ah, ah…not so fast. While your down payment is an important upfront cost, it's not flying solo. Other upfront costs associated with buying a home include closing costs, property taxes, and homeowner’s insurance, to name a few. I’m committed to making sure you have a clear understanding of all the upfront costs associated with buying a house and I’ll help you prepare for every aspect of the mortgage process. Let's work together to make your homeownership journey as simple as possible!

Monday Motivation:
🌟 Monday Motivation 🌟 "Make sure your habits are taking you where you want to go." Take control of your habits today to align with your goals and aspirations. Small actions lead to big results! 💪✨

Working this Weekend:
🏡 This weekend, I'm on a mission to make homeownership dreams come true! 💼✨ Whether you're a first-time buyer, refinancing, or looking to invest, I'm here to guide you every step of the way. Let's turn your aspirations into reality together! 🌟🔑

Don't Skip the Inspection:
When you find a home you love and want to make an offer, remember that it's always a good idea to get the home inspected before you sign on the dotted line. 🔍 Is an inspection required? No. But, could it save you some heartache down the road? Definitely. ❤️ An inspector looks for signs of structural issues, water damage, and potential maintenance to make sure the home is in tip-top shape before you call it yours. 🏠 They'll also check the condition of the roof, plumbing, electrical, and HVAC systems so that you don't have any unwelcome surprises after moving in. 💡

Have questions about the homebuying process? I've got answers, DM me today to ask what's on your mind. 💬