Julie Howell Dallas/Fort Worth Loan Officer 176775

No matter where life takes you, we’ve got you covered!

PrimeLending is proudly licensed in all 50 states, meaning wherever you call home, The Julie Howell Team is here to make your home-buying journey smooth and stress-free.

Let's find your perfect home together!

Ready to get started? Send me a DM!

Ever wondered about Adjustable-Rate Mortgages (ARMs)? Chances are, you've heard the term but aren't quite sure what it means or why it's important. An ARM is a home loan option where the interest rate fluctuates over time based on market changes. Initially, you'll enjoy a lower interest rate compared to fixed-rate mortgages, set for a fixed period depending on your ARM option. After this fixed rate period, the rate adjusts at set intervals in sync with the current market rate. Understanding ARMs can help you navigate your home financing journey with confidence!

Reach out to me today to learn more!

Myth busted: You CAN be your own boss AND a homeowner! Don't let misconceptions about self-employment hold you back from achieving your homeownership goals. Entrepreneurship doesn't disqualify you from buying a home – in fact, self-employed borrowers go through the same process as everyone else. Let's rewrite the narrative and create success stories for self-employed individuals in the world of homeownership!

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.

Testimonial Tuesday!

We all know that mortgage rates play a vital role in determining the affordability and overall cost of homeownership, but what factors play into how rates are determined? Let's talk about the factors that you can control and the factors that you can't!

Factors you can't 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.

Factors you can control:
While some factors are out of your control when it comes to mortgage rates, there are still areas where you have the ability to affect the rate you get. 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!

Q: How long does it take to buy a home?
A: According to realtor.com, the average home buyer tours 10 homes over a 10-week time period before finding their ideal home. Then once you've submitted an offer and are under contract, depending on your situation, it can take on average about a month for your loan to be ready to close and get your keys. If you're looking to buy, step one is to chat with a lender.

Please note that your timeline will vary widely based on your urgency, the time of year, financing needs, and current inventory.

DM me, and let's connect. I look forward to hearing from you!

Source | https://www.realtor.com/advice/buy/how-many-homes-will-it-take/

Everything’s better in Texas, even our lending! We are the #1 Retail Purchase Mortgage Lender in Texas!* We take pride in helping Texans make their homeownership dreams come true. If you’re ready to start your journey home, connect with us today.

* #1 ranking based on combined 01/01/24- 06/30/24 CoreLogic purchase loan data for PrimeLending and our affiliate Highland HomeLoans when compared to other retail mortgage companies in Texas. Ranking excludes brokers and builder owned mortgage companies.

Discover a win-win for home buyers and sellers! With a temporary rate buydown, buyers enjoy lower interest rates and reduced monthly payments for the initial years. Sellers can sweeten the deal without lowering the home price. It's a win-win!
A temporary buydown allows a seller to put up-front funds into an escrow account to reduce the interest rate for one, two, or three years at the start of the mortgage. In turn, this could reduce the borrower’s monthly mortgage payment temporarily.
Reach out today to see if a temporary buydown is a good option for you!

Waiting for average mortgage rates to return to 2-3% like we saw during the pandemic? You may be waiting for…a long time. According to experts at CNBC, homebuyers shouldn't expect a return of record-low rates in the near term. The reason we got to rock bottom rates a few years ago was because the Federal Reserve slashed interest rates, created emergency lending programs, and bought tons of mortgage-backed securities in response to the pandemic. It wasn't until inflation soared that the Fed reversed course and have since raised rates 11 times in 2022-2023, leading to our increased rates of today.

If you are a homebuyer, waiting out the market for a lower rate may end up costing you more money in the long run. Send me a DM and let's go through the pros and cons of waiting for a lower rate.

Source: CNBC | Mortgage rates won't go back down to 3% in my lifetime, says real estate expert—here's why

There are several reasons for the current housing shortage in the United States so let’s talk about it! One of the main factors is the lack of new construction. Since the 2008 financial crisis, many builders have been hesitant to take on new projects due to the high costs of land, labor, and materials which puts more demand on existing homes over new builds.
Another factor contributing to the housing shortage is the high demand for housing, particularly in urban areas. As more people move to cities for work and other opportunities, the demand for housing has outpaced the rate of new construction. This has led to rising home prices and rents, making it more difficult for many people to find affordable housing.
Finally, the current interest-rate environment has also complicated matters. Homeowners that either bought or refinanced while interest rates were at all time lows are hesitant about giving up their locked-in low rates. Many homeowners who might be sellers are choosing to stay put.
Have more questions about the housing market or buying in 2023? Send me a DM and let’s talk!

“You need to have great credit to buy a house.” How many of us have heard that before? Here’s what you need to know if you’re ready to become a homeowner.

The credit score you need depends on the loan type you're after. While a fixed-rate loan will require a score of at least 620, you may qualify for an FHA loan with a score as low as 580. And if you’re active-duty military, you also have a 580 minimum credit score.

Long story short - don’t throw in the towel on homeownership just because you have a less-than-perfect credit score. Give me a call, and let’s look at your options together!

Playing the waiting game with mortgage rates? You’d like to buy but ideally you want to wait for a lower interest rate – I totally get it! Here are a few reasons why waiting for rates might not be the best idea if you can afford to buy sooner rather than later:

-As we saw in 2020 and 2021, when mortgage rates dropped more buyers entered into the market resulting in home price increases and bidding wars. No doubt that potential home buyers that have been priced out of today’s market will be itching to buy once rates come back down again. You may want to avoid the competition from other buyers flooding the market.

-While waiting for rates to come down, you might be subject to rising home prices making the overall cost of homeownership more expensive. Not only have home prices increased but rent prices have increased too. You can lock in a steady mortgage payment now and enjoy the equity that you build in the years to come.

-Just waiting can be stressful. Analyzing market trends and monitoring the housing market can be draining. Additionally, if you have specific time constraints (like your lease ending) waiting for rates may not be feasible.

Ultimately, deciding to wait or not to wait depends on your individual circumstances. Chat with a financial advisor or send me a DM to help you decided and weigh the pros and cons!

Attention Homeowners! 📢 If you've been contemplating listing your home for sale, now's the time to seize the opportunity!
Don't wait for the perfect moment—create it!
Join the wave of homeowners making moves and capitalize on the demand in today's housing market.
Someone might be dreaming of your house as their ideal home, offering you the chance to move to a bigger place or perhaps downsize. I can help you explore your home loan options for your new home, contact me today!

Playing the waiting game with mortgage rates? You'd like to buy but ideally you want to wait for a lower interest rate – I totally get it! Here are my two cents about why waiting for rates might not be the best idea if you can afford to buy sooner rather than later:

-As we saw in 2020 and 2021, when mortgage rates dropped more buyers entered the market resulting in home price increases and bidding wars. No doubt that potential home buyers that have been priced out of today's market will be itching to buy once rates come back down again. You may want to avoid the competition from other buyers flooding the market.

-While waiting for rates to come down, you might be subject to rising home prices making the overall cost of homeownership more expensive. Not only have home prices increased but rent prices have increased too. You can lock in a steady mortgage payment now and enjoy the equity that you build in the years to come.

-Just waiting can be stressful. Analyzing market trends and monitoring the housing market can be draining. Additionally, if you have specific time constraints (like your lease ending) waiting for rates may not be feasible.

Ultimately, deciding to wait or not to wait depends on your individual circumstances. Chat with a financial advisor or send me a DM to help you weigh the pros and cons!

Happy Fourth of July! Today, we celebrate Independence Day with sparkling fireworks, family barbecues, and the spirit of freedom that defines our nation.

What is your favorite way to celebrate the Fourth of July?!

Testimonial Tuesday!

I love a freshly power-washed patio!

What is your favorite or least favorite summer maintenance task?

📢 No lender fees* on VA loans are back! Military families make enormous sacrifices day in and day out. You deserve a streamlined, affordable mortgage experience, which is what we provide at PrimeLending. It's our honor to help guide veterans, active duty and their spouses through the VA process, ensuring you can take advantage of the exclusive benefits you've earned:

-No Down Payment
-No Lender Fees *
-Lower Interest Rates
-Flexible Borrowing Terms
-No PMI

Interested in taking advantage of this amazing offer? Send me a DM and let's chat!

*All lender closing costs such as origination, processing, underwriting, and closing will be waives, 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 it 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. Savings will reflect on Closing Disclosure at closing. Borrower must lock their loan before 12/31/2024.

Wishing everybody a Happy Juneteenth!

Although I can only help with homeownership, I'm happy to discuss either. Give me a call!

972-713-3278

Closing costs are the fees that you pay at closing, which is the last step before you’re handed over the keys. According to Zillow, most buyers can expect to pay between 2-5% of your home’s purchase price in closing costs - this is in addition to your down payment. These costs can include: lender fees, title fees, homeowner insurance, just to name a few.

Don’t’ let sticker shock scare you off from buying though! In today’s more ‘buyer-friendly’ market, you may be able to negotiate with your sellers to cover some of the closing costs. Want to talk more about the costs of homebuying? Send me a DM and let’s talk about it!

Myth Busted! You DON'T need 20% down to buy your dream home! With various down payment options available, there's a path tailored to you; that's the PrimeLending promise. Don't let outdated misconceptions hold you back. Contact me today!

Thank you , Scotsman Guide!

#2024

In the world of home buying, terms like "cash to close" and "closing costs" often create confusion. Here's a quick breakdown to clarify the difference.

Understanding these terms can help you budget effectively and navigate the home-buying process with confidence. Have more questions? Send me a DM! I’d be happy to chat!

Military families make enormous sacrifices day in and day out. You deserve a streamlined, affordable mortgage experience, which is what we provide at PrimeLending. It's our honor to help guide veterans, active duty and their spouses through the VA process, ensuring you can take advantage of the exclusive benefits you've earned.

Interested in taking advantage of this amazing offer? Send me a DM and let's chat!

*All lender closing costs such as origination, processing, underwriting, and closing will be waives, 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 it 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. Savings will reflect on Closing Disclosure at closing. Borrower must lock their loan before 12/31/2024.

Refinancing your home can pay off in big ways.

If your home value has increased, you may even be able to tap into some of the equity you worked so hard to build. Vacation, anyone?

I’m always available to answer your refinance questions and walk you through some scenarios to help you reach your home and financial goals.

Connect with me today to get started.

Does your credit score make the grade?

Let's discuss how you can pass with flying colors!