Team Jones at Movement Mortgage

🤣🤣🤣

What’s the deal with Labor Day, anyway? 🧐 In the late nineteenth century, the first Monday in September was used to celebrate the social and economic achievements of American workers. Think of it as a national “thank you!” for your hard work! Hope you find some time to kick back and relax. Happy Labor Day!

Come see me and Chris tomorrow at this beautiful home. check out this listing and call or visit

listing.dreamhomelist.com

While some are enjoying this last holiday weekend of summer, i am going to work so that buyers have options for pre-approval when wanting to put in offers. Tons of Open Houses this weekend so if you need to be pre-approved call me. 302-531-8585

When it comes to purchasing a home, working with a local lender can make all the difference.
Here’s why:

Personalized Service: As your local lender, I’m deeply rooted in the community. I understand the unique challenges and opportunities in our area, ensuring you get the best financing options tailored to your needs.

Local Market Expertise: I have in-depth knowledge of our local real estate market, which means I can provide insights and advice that big, out-of-town lenders simply can’t. This expertise can help you navigate the home buying process more smoothly and confidently.

Community Investment: By working with a local lender, you're supporting local businesses that, in turn, invest back into our community.
Ready to take the next step?

Whether you're buying your first home or refinancing, I’m here to help! Reach out today—I’m here to help guide you home. 302-531-8585

5.0 star review received on Experience.com for Bobbi Jones by Kimberly B - She communicated with me regularly, made sure I kept everything up to date,, and was there to answer any questions I had.

New ★★★★★ 5 Star Experience.com Review by Kimberly B Click to see all 37 reviews of Bobbi Jones, Team Lead Loan Officer

"Success is not a good teacher, failure makes you humble."

📢 Big changes regarding Rental Income guidelines for Conventional Mortgage Loans!

✅ One of the big changes is that you do not have to own a primary residence to purchase an investment property with a conventional loan and use the rental income to qualify.
👉 Though you no longer need to own your primary residence, you must have a housing expense such as renting an apartment or home to use the rental income to qualify – you CANNOT live rent free ❌

✅ Another requirement change is for calculating rental income when a property was out of service due to renovation.
👉 Now Allowed to only use days property was rented on the Schedule E versus having to use annualized amount.

🙋‍♀️Qualifying for a mortgage with rental income can be pretty complex, so let’s talk, 💻DM Me or call me today at 📞 302-531-8585 and I’ll help you navigate your next purchase or refinance!

Make sure you are present for your home inspection and ask a ton of questions, do not leave any stone unturned. It could cost you money on items once you move in if you do not be thorough. Get a qualified inspector also.

🏠 Don’t let rates keep you from your
dream home! With the Movement Purchase
Advantage, you can buy now and refinance
with no lender fees if rates drop*. Let me
help you save big on refinancing**. Ready
to move? Call, text, or email me to get
started! 📞✉


*Qualification is required. Lender fees will be offset by a
lump sum Lender Credit at time of closing and shown
on your Closing Disclosure. Lender fees do not include
fees associated with lock or pricing, including but not
limited to, discount points or extension fees or fees
passed through to third-parties. Texas Lender Doc
Review Prep Fee is not waived. All other fees apply.
Conditions and restrictions apply. Refinance must meet
agency and investor guidelines. Offer applies to the
initial refinance of a purchase-money loan funded by
Movement Mortgage LLC between 12/1/2022 and
8/31/2024 that is secured by the same property. The
refinance application date must take place on/before
2/28/2025. To qualify, the applicant must have made 6
full monthly payments on the purchase-money loan
before the refinance closes. This offer does not apply to
brokered, bond, Jumbo, Non-Agency, HECM and
HELOC loans. Subject to credit approval. Cannot be
combined with any other offer. Limited to the states
Movement Mortgage is eligible to conduct business To
be eligible to qualify, the borrower will be required to
provide a complete application, submit requested
documentation, and have their credit pulled. The
borrower must also specifically request to participate in
Purchase Advantage Program and will not
automatically be enrolled into this program.
**By refinancing your existing loan, your total finance
charges may be higher over the life of the loan. Terms
and conditions are subject to change without notice.

movementmortgage-my.sharepoint.com

"To acquire knowledge, one must study; but to acquire wisdome, one must observe."

"Don't let making a living prevent you from making a life."

I am sure many of you have heard/seen rates have dipped down. This is certainly accurate - there are some changes on the horizon and if anyone has any questions I would love to assist.

With that being said there have been rates quoted for conventional and FHA in the high 5's-low 6's and some investment products quoted in the low 6's! We may not be exactly where we need to be, but as we see rates dip down you will certainly see more people qualifying for higher purchase prices. We are headed in right direction for sure. May not be all the way there yet but some positive news

It's that time of year: buying school supplies,
new shoes, clothes and all the essentials. At
Movement Mortgage this season is
something special. 🥰 Want to learn more
about our Movement Schools 🚸 and impact
lending, let's talk!

Dearest gentle readers,

Now is the time!! Interest rates are the lowest they have been in over a year. If you were one of those individuals who made the decision to wait until rates dropped to start your search, now is the time and I would suggest getting started fast. If you are already preapproved, your buying power has shifted in your favor!! 😊 let the hunger games begin!!

https://movementmortgage-my.sharepoint.com/:v:/r/personal/cindy_bush_movement_com/Documents/August%202024%20Social%20Content%20Calendar/Working%20This%20Weekend%20Graphics/I%27m%20Working%20This%20Weekend%20Reel_Story.mp4?csf=1&web=1&e=sbBY3p&nav=eyJwbGF5YmFja09wdGlvbnMiOnt9LCJyZWZlcnJhbEluZm8iOnsicmVmZXJyYWxBcHAiOiJTdHJlYW1XZWJBcHAiLCJyZWZlcnJhbE1vZGUiOiJtaXMiLCJyZWZlcnJhbFZpZXciOiJwb3N0cm9sbC1jb3B5bGluayIsInJlZmVycmFsUGxheWJhY2tTZXNzaW9uSWQiOiJhYjEyYmNiOC1lZDkzLTQ0M2YtYmUyZi02NGViZmIxNTFjZDAifX0%3D

movementmortgage-my.sharepoint.com

5.0 star review received on Experience.com for Bobbi Jones by Ruth S - Very patient and easy to work with,always got back to us when we had questions in a timely manner, very encouraging when deal after deal fell through

New ★★★★★ 5 Star Experience.com Review by Ruth S Click to see all 37 reviews of Bobbi Jones, Team Lead Loan Officer

5.0 star review received on Experience.com for Bobbi Jones by Garrick S - Very easy to work with.

New ★★★★★ 5 Star Experience.com Review by Garrick S Click to see all 36 reviews of Bobbi Jones, Team Lead Loan Officer

***Update on the NAR settlement and our lending requirements. Please take time to read it over. 🙂 **FEEL FREE TO SHARE**

As a result of the recent nationwide National Association of Realtors Settlement (NAR), which mandates that compensation for real estate agents cannot be listed on multiple listing services (MLS) and that the buyer’s agent must enter into written agreements with their buyers, guidance has been provided by all agencies addressing what impacts this may have on mortgage lending.

Under this new requirement, the buyer would sign an agreement with their buyer broker agent at the beginning of their home search, verifying the services the agent would perform and the fee(s) they would be paid. Separately, the seller would enter into an agreement with their listing agent when the home is listed, verifying the services to be performed and the fee(s) to be paid.

When a buyer makes an offer, they would specify both the price being offered and the fee the buyer’s agent expects to be paid. The buyer, seller, and their agents would settle on the final terms of the purchase contract.

Movement Mortgage will continue to monitor and assess the impact of the NAR settlement and other real estate agent commission lawsuits to determine if any further updates are necessary.

Below is a breakdown by agency which addresses Buyer Agent Real Estate Commission Fees and Interested Party Contributions and documentation requirements.

Fannie Mae-(Conv), Freddie Mac-(Conv), FHA and USDA

Fees or costs customarily paid by the property seller are not subject to Agency and Government Lending interested party contribution limits and are not considered to be a seller concession. Buyer agent fees have customarily been paid by the property seller or property seller’s real estate agent and are currently excluded from interested party contribution limits. If these fees continue to be customarily paid by the property seller, they will not be subject to interested party contribution limits nor considered a seller concession.

A fully executed buyer-broker representation agreement must be included in each loan file which spells out the terms of the agreement and must be included in the purchase agreement and be supplied to the appraiser prior to the appraisal being completed.

Any buyer-broker charges paid by the buyer must be included in the total amount needed to close and sufficient funds to close must be documented in the loan file prior to closing.

VA Loans – Circular 26-24-15

Effective for sales contracts, signed on or after August 10, 2024, VA is authorizing a temporary variance that allows Veterans to pay reasonable and customary amounts for buyer-broker charges including commissions and other broker-related fees, subject to the following:

Buyer-broker charges are not included in the loan amount.
Any buyer-broker charges paid by the Veteran must be included in the liquid asset requirements.
Veteran buyer-broker representation agreement must be included in the loan package and uploaded when requesting the appraisal.
Total amount paid by the Veteran for buyer-broker fees must be recorded in lines 1 through 3 in section H of the Closing Disclosure (CD).
As a reminder:

The seller may still pay the Veteran’s buyer-broker charges.
The seller’s payment of buyer-broker charges is not considered a seller concession.

In advance of the effective date of the local variance described above, VA released a WebLGY system enhancement to collect the amount of Veteran-paid buyer-broker charges. After the system enhancement is released, lenders are expected to indicate if the Veteran paid any buyer-broker charges, and, if so, to indicate the total amount paid in the applicable fields when requesting the Loan Guaranty Certificate (LGC) on VA-guaranteed purchase loans.

If you have any questions regarding this update prior to or after the release, please reach out to me, Bobbi Jones Team Jones at Movement Mortgage 302-531-8585