Mike Kofahl Sr, Mortgage Lender

A good thought for the day!

Here’s to a new week of opportunity!

One family pre-approved this morning! Who else can I help today?

Just a reminder-!

Starting the week off with a referral from one of the wonderful people I do business with. It's greatly appreciated!

If you or someone you know is looking to refinance or purchase a home, allow my team to assist. We're here help :) 678-758-4232

Just reminding everyone!

Let’s talk through your personal situation. 678-758-4232

Searching for a house? Don’t delay getting pre-approved just ask your Real Estate agent! I can help with the pre-approval and make them smile at the same time.

I want to throw something out there for anyone who has bought a home in the past 12-24 months with an FHA loan, or a low-down payment conventional loan.

I have a client that purchased with 3.5% down on an FHA loan 18 months ago. Since that time, she is improved her credit score from the 670s to the low 700s. Her plan was to refinance to lower her interest rate and reduce the amount of mortgage insurance she is paying monthly - and for that mortgage insurance to cancel once she had 20% equity.

Not only were we able to refinance her, but we got an appraisal waiver at 79%. That means an actual appraisal was not required AND her PMI was eliminated! This refinance also took care of an escrow shortage for her. In all, she is saving over $300 PER MONTH on her mortgage payment.

I say all of this to say that you may also be able to benefit in the same, or a similar way. Property values have skyrocketed in the past year, and you just might be able to make a huge difference in your financial situation. What could you do with an extra $300/month?

🏡 𝗙𝗼𝗿 𝘁𝗵𝗲 𝘄𝗲𝗲𝗸 𝗼𝗳 𝗝𝘂𝗻𝗲 𝟮𝟭, 𝟮𝟬𝟮𝟭

𝗥𝗲𝗰𝗮𝗽 𝗼𝗳 𝗹𝗮𝘀𝘁 𝘄𝗲𝗲𝗸: 𝗥𝗮𝘁𝗲𝘀 𝘄𝗼𝗿𝘀𝗲𝗻𝗲𝗱 👎
Average mortgage rates grew worse last week after unexpected comments from the Fed about inflation and asset purchases roiled markets. Rates rose slightly as mortgage bonds, the basis for mortgage rates, quickly lost ground on the news. Rates did show signs of improving to end the week though.

𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁: 𝗥𝗮𝘁𝗲𝘀 𝘄𝗶𝗹𝗹 𝗿𝗲𝗺𝗮𝗶𝗻 𝗹𝗼𝘄 👍
Average mortgage rates this week could see some more volatility, meaning we could see rates and rebate pricing vary from day-to-day. Rebate pricing is the credit you get towards closing costs from your lender, or the fee you pay to get a lower rate, often called 'points'. However, rates will continue to remain low and could improve slightly this week.

🗓️ 𝗪𝗵𝗮𝘁'𝘀 𝗮𝗳𝗳𝗲𝗰𝘁𝗶𝗻𝗴 𝗿𝗮𝘁𝗲𝘀 𝘁𝗵𝗶𝘀 𝘄𝗲𝗲𝗸:
- Fed stimulus: The Fed continues to buy Treasuries and mortgage bonds, helping keep mortgage rates low. Talk about the Fed reducing bond purchases could pressure rates higher.
- Economic data: Later this week we will get more inflation data, which could cause some movement in rates.
- Fed speakers: Fed officials will be speaking this week, including Fed Chair Jerome Powell in front of Congress, and their comments could cause movement in rates as investors look for signs of future Fed actions.

🏠 𝗙𝗼𝗿 𝘁𝗵𝗲 𝘄𝗲𝗲𝗸 𝗼𝗳 𝗝𝘂𝗻𝗲 𝟭𝟰, 𝟮𝟬𝟮𝟭
𝗥𝗲𝗰𝗮𝗽 𝗼𝗳 𝗹𝗮𝘀𝘁 𝘄𝗲𝗲𝗸: 𝗥𝗮𝘁𝗲𝘀 𝗶𝗺𝗽𝗿𝗼𝘃𝗲𝗱 𝘀𝗹𝗶𝗴𝗵𝘁𝗹𝘆 👍
Average mortgage rates improved slightly last week, despite data showing hotter than forecast inflation. Normally inflation can put pressure on rates, but investors and economists believe that the current round of inflation is transitory and caused by supply chain shortages and increased demand as the economy continues to recover.
𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁: 𝗥𝗮𝘁𝗲𝘀 𝘄𝗶𝗹𝗹 𝗿𝗲𝗺𝗮𝗶𝗻 𝗹𝗼𝘄, 𝗰𝗼𝘂𝗹𝗱 𝗶𝗺𝗽𝗿𝗼𝘃𝗲 👍
Average mortgage rates this week will remain low, and could even improve if nothing surprising comes from this week's Fed meeting. Although investors were concerned a few weeks ago that the Fed may start talks this month about reducing bond purchases, many economists and investors now believe that talk about tapering will be put off till August or later.
🗓️ 𝗪𝗵𝗮𝘁'𝘀 𝗮𝗳𝗳𝗲𝗰𝘁𝗶𝗻𝗴 𝗿𝗮𝘁𝗲𝘀 𝘁𝗵𝗶𝘀 𝘄𝗲𝗲𝗸:
- Economic data: This week's economic data is not likely to have much effect on rates.
- Fed stimulus: The Fed continues to buy Treasuries and mortgage bonds, helping keep mortgage rates low. Concerns about the Fed reducing bond purchases have been pushed back.
- Fed meeting: The Fed meeting concludes on Wednesday with a policy statement and Fed Chair Jerome Powell's press conference. We could see a reaction that could effect rates.

🏡 𝗙𝗼𝗿 𝘁𝗵𝗲 𝘄𝗲𝗲𝗸 𝗼𝗳 𝗝𝘂𝗻𝗲 𝟳, 𝟮𝟬𝟮𝟭
𝗥𝗲𝗰𝗮𝗽 𝗼𝗳 𝗹𝗮𝘀𝘁 𝘄𝗲𝗲𝗸: 𝗥𝗮𝘁𝗲𝘀 𝗯𝗮𝘀𝗶𝗰𝗮𝗹𝗹𝘆 𝘂𝗻𝗰𝗵𝗮𝗻𝗴𝗲𝗱 👍
Average mortgage rates among lenders were basically unchanged during last week's holiday shortened week. Friday had the highest potential to see rates move, with the release of monthly jobs data that showed the economy and labor market continue to recover. However, rates were actually unaffected as Friday's data came in close to what was expected.
𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁: 𝗥𝗮𝘁𝗲𝘀 𝗹𝗶𝗸𝗲𝗹𝘆 𝘁𝗼 𝗿𝗲𝗺𝗮𝗶𝗻 𝗹𝗼𝘄, 𝗯𝘂𝘁 𝗰𝗼𝘂𝗹𝗱 𝗴𝗲𝘁 𝘄𝗼𝗿𝘀𝗲 👎
Average mortgage rates this week will remain low, but Thursday's inflation data could see rates end the week slightly worse if investors are concerned that inflation continues to rise. Markets are also looking for signs that the Fed may begin talking about reducing asset purchases at next week's Fed meeting.
🗓️ 𝗪𝗵𝗮𝘁'𝘀 𝗮𝗳𝗳𝗲𝗰𝘁𝗶𝗻𝗴 𝗿𝗮𝘁𝗲𝘀 𝘁𝗵𝗶𝘀 𝘄𝗲𝗲𝗸:
- Fed stimulus: The Fed continues to buy Treasuries and mortgage bonds, helping keep mortgage rates low. However, talk about when the Fed may begin to taper back purchases could pressure rates higher.
- Economic data: This week the main piece of data that could affect rates and pricing is Thursday's consumer inflation data. Last month the data came in stronger than expected, pressuring rates slightly higher on the market reaction.

A little humor to start the weekend!

🗓️ 𝗙𝗼𝗿 𝘁𝗵𝗲 𝘄𝗲𝗲𝗸 𝗼𝗳 𝗝𝘂𝗻𝗲 𝟭, 𝟮𝟬𝟮𝟭
𝗥𝗲𝗰𝗮𝗽 𝗼𝗳 𝗹𝗮𝘀𝘁 𝘄𝗲𝗲𝗸: 𝗥𝗮𝘁𝗲𝘀 𝘀𝗹𝗶𝗴𝗵𝘁𝗹𝘆 𝗶𝗺𝗽𝗿𝗼𝘃𝗲𝗱 👍
Average mortgage rates last week improved slightly to end the week, although the best rates were likely to be had midweek. Rate movement was small though, mainly improving rebate pricing. Rebate pricing is the credit you get towards closing costs from your lender, or the fee you pay to get a lower rate, often called 'points'.
𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁: 𝗥𝗮𝘁𝗲𝘀 𝘄𝗶𝗹𝗹 𝗿𝗲𝗺𝗮𝗶𝗻 𝗹𝗼𝘄, 𝗰𝗼𝘂𝗹𝗱 𝗯𝗲 𝘃𝗼𝗹𝗮𝘁𝗶𝗹𝗲 ⚠️
Rates this week will remain low, however could improve slightly midweek before possibly getting worse on Friday when jobs data is released. It is a good week to stay in close contact with your mortgage professional.
🏡 𝗪𝗵𝗮𝘁'𝘀 𝗮𝗳𝗳𝗲𝗰𝘁𝗶𝗻𝗴 𝗿𝗮𝘁𝗲𝘀 𝘁𝗵𝗶𝘀 𝘄𝗲𝗲𝗸:
- Fed stimulus: The Fed continues to buy Treasuries and mortgage bonds, helping keep rates low.
- Economic data: Most data this week won't affect rates until we see Friday's jobs and wages data that could signal the Fed may have to discuss adjusting policy at this month's meeting, which could pressure rates higher when it happens.
- Technical indicators: We could see mortgage bonds improve ahead of Friday's economic data, which could help improve rates slightly.
- Short week: Markets were closed Monday for the holiday, leaving an action packed holiday shortened week.

🏡 𝟯 𝘁𝗶𝗽𝘀 𝘁𝗼 𝗵𝗲𝗹𝗽 𝗴𝗲𝘁 𝘆𝗼𝘂𝗿 𝗵𝗼𝗺𝗲 𝗼𝗳𝗳𝗲𝗿 𝗮𝗰𝗰𝗲𝗽𝘁𝗲𝗱...
✅ 𝗠𝗲𝗲𝘁 𝘄𝗶𝘁𝗵 𝘆𝗼𝘂𝗿 𝗹𝗲𝗻𝗱𝗲𝗿 𝗲𝗮𝗿𝗹𝘆.
You need to be clear on what you are comfortable paying as well as what you can qualify for. Homes are moving on and off the market at lightning speed these days, and you if you find a home that you fall in love with you need to be ready to act quickly.
✅ 𝗕𝗲 𝗽𝗿𝗲-𝗮𝗽𝗽𝗿𝗼𝘃𝗲𝗱, 𝗻𝗼𝘁 𝗷𝘂𝘀𝘁 𝗽𝗿𝗲𝗾𝘂𝗮𝗹𝗶𝗳𝗶𝗲𝗱.
Yes, there is a BIG difference. Reach out to me and I'll explain the details and help you with this one. This can help you compete with cash offers.
✅ 𝗞𝗻𝗼𝘄 𝘆𝗼𝘂𝗿 𝗼𝗽𝘁𝗶𝗼𝗻𝘀.
In most markets today homes are getting multiple offers, and the winning offers are above asking price. There are situations where paying above asking price can make sense for you, and I can help you with the math to see if paying more for a home today could be a good financial move in 6 months or a year from now with current home appreciation. I can also share with you options for putting less money down and maybe having more money for paying the gap between the sales price and what the home appraises for, a common occurrence today.
It is a highly competitive market right now, and these tips may help. 𝗜'𝗺 𝗮𝘃𝗮𝗶𝗹𝗮𝗯𝗹𝗲 𝗮𝗻𝘆𝘁𝗶𝗺𝗲 𝗶𝗳 𝘆𝗼𝘂 𝘄𝗮𝗻𝘁 𝘁𝗼 𝘁𝗮𝗹𝗸 𝗮𝗯𝗼𝘂𝘁 𝘆𝗼𝘂𝗿 𝘀𝗶𝘁𝘂𝗮𝘁𝗶𝗼𝗻 𝗮𝗻𝗱 𝘄𝗵𝗮𝘁 𝗜 𝗰𝗮𝗻 𝗱𝗼 𝘁𝗼 𝗵𝗲𝗹𝗽 𝘆𝗼𝘂.

Be sure to remember and honor those who have paid the ultimate sacrifice.

Alabama is the perfect place to call home. Because of its great history, beautiful scenery and friendly people, it's easy to understand why it's such a great place to live. ... Compared to many other states, Alabama has a low cost of living. My team can help you find and finance your home. 678-758-4232.

"Key mortgage rates resume slide this week"- here's the Mortgage headline of the week, so remember it's never too late to look at refinancing. call me at 678-758-4232 if I can be of assistance.

🗓️ 𝗙𝗼𝗿 𝘁𝗵𝗲 𝘄𝗲𝗲𝗸 𝗼𝗳 𝗠𝗮𝘆 𝟭𝟳, 𝟮𝟬𝟮𝟭
𝗥𝗲𝗰𝗮𝗽 𝗼𝗳 𝗹𝗮𝘀𝘁 𝘄𝗲𝗲𝗸: 𝗥𝗮𝘁𝗲𝘀 𝘀𝗹𝗶𝗴𝗵𝘁𝗹𝘆 𝗵𝗶𝗴𝗵𝗲𝗿, 𝗯𝘂𝘁 𝘀𝘁𝗶𝗹𝗹 𝗹𝗼𝘄 👎
Average mortgage rates last week were up slightly, after a weak start that saw the worst pricing midweek before recovering to end the week. As we said may happen, Wednesday's consumer inflation data did indeed pressure rates a bit, coming in even higher than expected.
𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁: 𝗥𝗮𝘁𝗲𝘀 𝘄𝗶𝗹𝗹 𝗿𝗲𝗺𝗮𝗶𝗻 𝗹𝗼𝘄 👍
Rates this week should continue to remain low, despite renewed concerns about inflation from investors. Although we may see some movement day-to-day, rates are not in danger of moving up or likely to improve too much from here. There is a chance though that we could see rebate pricing improve. Rebate pricing is the credit you get towards closing costs from your lender, or the fee you pay to get a lower rate, often called 'points'.
🏡 𝗪𝗵𝗮𝘁'𝘀 𝗮𝗳𝗳𝗲𝗰𝘁𝗶𝗻𝗴 𝗿𝗮𝘁𝗲𝘀 𝘁𝗵𝗶𝘀 𝘄𝗲𝗲𝗸:
- Fed stimulus: The Fed continues to buy Treasuries and mortgage bonds, helping keep rates low and stable.
- Economic data: Lots of housing data this week, but it won't affect rates. Wednesday brings the minutes from last month's Fed meeting, which could get traders' attention as they look for signs for how the Fed will react to inflation.
- Bond market: Mortgage bonds could improve in pricing this week, helping rates.

Here’s wishing you a great week!

Sage advice to help us finish strong.

📉 A recent drop in rates (and increased equity from the rise in home prices) may mean this is 𝗔 𝗚𝗥𝗘𝗔𝗧 𝗧𝗜𝗠𝗘 𝗧𝗢 𝗥𝗘𝗙𝗜𝗡𝗔𝗡𝗖𝗘! 💰 🏡
𝗪𝗵𝘆 𝗿𝗲𝗳𝗶𝗻𝗮𝗻𝗰𝗲 𝘆𝗼𝘂𝗿 𝗺𝗼𝗿𝘁𝗴𝗮𝗴𝗲?
✅ to take cash out for home repairs/renovations
✅ to lower your monthly payment
✅ to take cash out for paying off credit card debt
✅ to get a lower interest rate
𝗪𝗵𝘆 𝗱𝗶𝘀𝗰𝘂𝘀𝘀 𝗿𝗲𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗻𝗴 𝘄𝗶𝘁𝗵 𝗺𝗲 (𝗶𝗻𝘀𝘁𝗲𝗮𝗱 𝗼𝗳 𝘀𝗮𝘆, 𝗮 𝗯𝗶𝗴 𝗯𝗮𝗻𝗸 𝗼𝗿 𝗼𝗻𝗹𝗶𝗻𝗲 𝗹𝗲𝗻𝗱𝗲𝗿?)
👉 I take the time to understand what you'd like to achieve by refinancing
👉 I can help you get a low rate, often with much lower closing costs than other lenders
👉 I can help take the hassle out of the conversation, showing you what to look out for and what you want to do to get a great deal
𝗪𝗵𝗮𝘁 𝗱𝗼 𝘆𝗼𝘂 𝗱𝗼 𝗻𝗲𝘅𝘁?
Simply contact me and we can schedule some time for a free, no obligation conversation. If you choose to move forward with a refinance I can help you. If you decide it's not the right move that's fine too, at least you'll know you didn't miss an opportunity.
I'm here to help if you want to learn more.

𝗣𝗿𝗲-𝗤𝘂𝗮𝗹𝗶𝗳𝗶𝗲𝗱 𝘃𝘀. 𝗣𝗿𝗲-𝗔𝗽𝗽𝗿𝗼𝘃𝗲𝗱... 𝗪𝗵𝗮𝘁'𝘀 𝘁𝗵𝗲 𝗱𝗶𝗳𝗳𝗲𝗿𝗲𝗻𝗰𝗲?
Getting pre-qualified is the process of providing a mortgage lender with some background information like your credit, income, and expenses so the lender can help you determine how much you can afford and what you are likely to qualify for.

A pre-approval, however, means you have provided the lender with proof of your income and assets and had a credit check to determine exactly how much you can be approved for.
𝗪𝗵𝗶𝗰𝗵 𝗼𝗻𝗲 𝗶𝘀 𝗿𝗶𝗴𝗵𝘁 𝗳𝗼𝗿 𝘆𝗼𝘂?

𝗚𝗶𝘃𝗲 𝗺𝗲 𝗮 𝗰𝗮𝗹𝗹 𝗼𝗿 𝗰𝗼𝗻𝘁𝗮𝗰𝘁 𝗺𝗲 𝗱𝗶𝗿𝗲𝗰𝘁, 𝗮𝗻𝗱 𝗜'𝗹𝗹 𝗯𝗲 𝗵𝗮𝗽𝗽𝘆 𝘁𝗼 𝗵𝗲𝗹𝗽 𝘆𝗼𝘂 𝗱𝗲𝗰𝗶𝗱𝗲.
I can provide either one, depending on your unique situation and where you are in the house hunting process.

The best part? There is no obligation. You are still free to work with anyone you would like when you're ready to obtain a mortgage to purchase your home.

Mike 678-758-4232

🗓️ 𝗙𝗼𝗿 𝘁𝗵𝗲 𝘄𝗲𝗲𝗸 𝗼𝗳 𝗠𝗮𝘆 𝟬𝟯, 𝟮𝟬𝟮𝟭
𝗥𝗲𝗰𝗮𝗽 𝗼𝗳 𝗹𝗮𝘀𝘁 𝘄𝗲𝗲𝗸: 𝗥𝗮𝘁𝗲𝘀 𝗿𝗲𝗺𝗮𝗶𝗻 𝗹𝗼𝘄 👍
Average mortgage rates ended the week largely unchanged, maintaining some of the lowest rates seen in months. Concerns about last week's Fed meeting proved unfounded, as the Fed committed to maintaining efforts to support the economic recovery.
𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗥𝗮𝘁𝗲 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁: 𝗥𝗮𝘁𝗲𝘀 𝘄𝗶𝗹𝗹 𝗿𝗲𝗺𝗮𝗶𝗻 𝗹𝗼𝘄 👍
Rates this week are not likely to move up or down much, but we could see some small day-to-day movements in rebate pricing (the credit you get towards closing costs from your lender, or the fee you pay to get a lower rate, often called 'points'). There is not a lot of risk right now in seeing rates creep up if you are house hunting, and it is a great time to talk with your trusted mortgage professional if you're considering refinancing.
🏡 𝗪𝗵𝗮𝘁'𝘀 𝗮𝗳𝗳𝗲𝗰𝘁𝗶𝗻𝗴 𝗿𝗮𝘁𝗲𝘀 𝘁𝗵𝗶𝘀 𝘄𝗲𝗲𝗸:
- Fed stimulus: Last week the Fed committed to maintaining the current pace of bond buying for the foreseeable future, which is helping to keep mortgage rates low.
- Economic data: Although there is quite a bit of economic data scheduled for release this week, there is not much market moving data to be concerned about. However, Friday's jobs data could have an affect on rates near the end of the week.