Your July 2022 Residential Lending Successes and News

Good morning to Summertime fun,

The Good News: Confidence in Real Estate continues and Buying is here, now. 

Real estate markets are fast paced. Call today. Let’s prepare for the fun – its key.

Recent News

– Inflation: In 2021, fiscal policy added four percentage points to GDP, in 2022 it will subtract three, a seven-percentage point swing, something not seen since at least 1960. Moreover, the dollar is at its strongest level in decades, further reducing inflation. Add peaking new car prices, falling used ones, rising factory utilization rates and inventories, and flat real spending on goods, and goods inflation may recede much more quickly than expected. Hat-tip, Elliot Eisenberg

– Recession / Stagflation indicators: Peak employment – YES. GDP slowing – YES. Real Estate is slowing and “Inverted Yield Curve” holds true – YES.

– Federal Reserve: Ours and 45 other economies have increased interest rates to slow consumer spending and increase savings. The planned result is to tame inflation and not harm the economy. How and how quickly will it work, remains the question.

– ADP: Of particular interest: ADP just announced no new monthly report on employment – until the end of August. They are adjusting methodologies. It will be interesting how they alter their interpretation, of the same basic numbers. Changes will bring challenges, as we use ‘look-back’ to earlier stats and trends.

Information and Helpful Insights 

Market News, Successes, And How We Can Help 

Points of interest:

  • Interest Rates: We ride in the middle of a very wide trading range. The low’s of April and May gave way to peak around mid June. We are currently trading in the middle of these two boundaries. A lot of large movements, but no new trend line established. The Fed’s recent increase – with another expected later this month – works to help stabilize our rates market. Why? Because America is a better place to park money and the EU is struggling. Quite a balancing act.
    • Conventional loans: Tracking low 5’s. Cash-out refinance and investor loans run a bit higher. 
    • VA rates and FHA ratesIf a Vet? Call Now.  Fixed rates – mid 4’s. Plus Veterans refi special: 1) Refi from conventional into a VA loan, and 2) Rate-reduction refi’s have NO income, NO asset documentation.  NEW rule for Veterans – a 1 % service related disability = NO VA funding fee !!
    • Jumbo: Yes to: Self-employed, Yes to: 80/10/10. Or, bigger down payment and no income / no employment documentation. Call. Let’s make it happen, today.
    • Underwriting: Purchases – first priority of the underwriterTurn around time can be a quick couple of days. Amen. How about Refinance? Patience wins. Best to start today.

Key to SuccessStart the paperwork today. Let’s talk Now.

Success Stories

Keys to Success:

Why plan today – Verifying the verification is the new constant. Banks and lenders want zero risk and zero defaults. This puts pressure on the shoulders of underwriters. The Good News: We know how to help them cross the T’s and dot the I’s. With us, you are well prepared and thereby ahead of the financial game. 

In the arena of details, we are most diligent. Why? Because its what we do best. 

Good News about Appraisals: Appraisal waivers, and we know how to obtain them for our clients – a true time saver. It is how we best serve you and your needs !! Frankly, you deserve it. 

Retirement? Few of us have a silver bullet solution? Yet if we have built up significant equity in our homes, doors of opportunity begin to open. It can become a welcome monthly gift, for the many years of of disciplined and diligent use of money. Question: How best to use this is gift? Good News: We have the tools to address this opportunity and answer your questions. We would love to explore your options with you – working with you as teammates of success.

I look forward to your call. Call today. 

We have a team of experienced agents, covering a full range of specialties. Give a ring. 

Highlights of 

How We Serve You

1) Long-Term: Traditional financing.  The Good News: No age restriction.

2) Short-term: HELOC. A great tool with our markets rates so very low. Home Equity Lines of Credit can be a perfect for short-term ‘chunk cash’, plus the benefit of flexible repayment. 

2) Keeping One’s Home: Key to this worthy goal, is an interactive discussion. Here we discuss benefits of keeping one home, the possibility of upgrading the overall design to best fit any physical limitations, or even selling? As to selling, we can discuss ways to help you relocate to another place or location. Then there are such issue as Estate planning, unpaid debts, or meeting monthly expenses? My job is to be a good listeners, putting before you, straight forward solutions. Your first call is worthy.

3) Reverse Mortgage: it can be a great way to reduce stress – especially the burden of the monthly home mortgage. It stops, with the added benefit of adding monthly income, each month. Call. Let us show you how it can work for you. Don’t wait – Now is the time.

The Good News: Rates Remain Stable

– New Homes or Refinance – 

Self-employed: Times are tricky, but we are prepared to meet such challenges. Let’s talk and review your unique situation. We work with traditional type documentation, alternative ways to document income, and even no-income documented loans. We can lay out workable options and best possibilities. I do love and stand with Small Business. I respect those daring to be self-employed – the backbone of America. They speak to the living spirit of our free enterprise system. Let’s stand together. Call today. We are motivated.

Buying your next home: Two most helpful “tools”: 1) You use the existing home, as collateral for your new home!! And 2): How about not having your current payment on the current home, count against you, while settling into your new home. People need options and creative thinking. And with this, we have excellent tools to make them happen. Call today.

Renting, But Wanting to Buy?

Pricing pressures do not just concern new home buyers, but so too, Renters. With property values accelerating, so too are rents. And this, without the benefit of interest deductions. Let’s talk. The best long-term answer maybe to buy now. Call today. Take full advantage of this great buying opportunity. 

Good News: We offer market-based tools comparing rents to the benefits of home ownership. We look beyond boiler plate, short-cut numbers. We understand ‘affordability’ to be unique to each and every individual and family. Our focus is understanding you, asking pertinent questions, and helping guide your financial future. We appreciate the importance of “live-ability” as a high priority, when consider ‘how big a home can I afford.’ 

Finding answers and discovering options are the true rewards.

A Big, First Step Made Better

CALL Mike – Your success is MY first priority.

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