Angel Oak Companies

12 Jan

Posted at 15:08h in Blog by
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  Are you self-employed or a 1099 earner wanting to purchase a home or refinance but not sure how it works based on your circumstances? We understand and that is why we have a loan product created specifically just for you. It’s called a Bank Statement home loan and those who are eligible can qualify using personal or business statements. We do not require income or tax returns. People with 1099s can use their 1099 earning statements to qualify. Bank Statement loans are one of our most highly utilized loan products. We have helped many self-employed people with their refinance or achieving their...

08 Jan

Posted at 13:59h in Blog by
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Our 2020 President Club winners have been announced! Congratulations to the licensed mortgage advisors who achieved outstanding sales results to qualify for President's Club. We are proud of each of you and your commitment to raising the bar! Those named to President's Club are licensed mortgage advisors who went above and beyond to earn the distinction and award. They are experts who achieved outstanding sales results and helped a significant number of people achieve the dream of homeownership. Phenomenal customer service, an adept understanding of the market, assessing borrower’s unique needs and matching the right loan product to close quickly is...

05 Jan

Posted at 17:14h in Angel Oak Updates, Blog by
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Ready to sell more homes in 2021? Of course you are - and we are ready to help! The purchase market is thriving and growing at the onset of the year with increases in mortgage applications. The only issue is that many homeowners have had financial changes that may mean they can’t qualify for a traditional loan. Many millennials do not have the down payment they need but are determined to buy. It is possible as long as they have the right loan product. Do not waste time working with a lender who does not have non-QM loan products. It’s a...

30 Nov

Posted at 17:12h in Angel Oak Updates, Blog by
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Fannie Mae has implemented a new Adverse Market Refinance Fee (loan-level price adjustment) that could affect most refinances. The cost to originate and deliver single family limited cash-out and cash-out refinance mortgage loans will increase by one half of one percent (.50%).Angel Oak received a letter stating that these fees are based on market and economic uncertainty that could result in higher risk and costs for Fannie Mae. This Adverse Market Fee as referenced by the Federal Housing Finance Agency applies to all whole loans purchased by issue dates on or after December 1, 2020.Fannie Mae’s terms of their new...

30 Nov

Posted at 09:38h in Angel Oak Updates, Blog, Top Post by
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We love sharing good news – especially at this time of the year. We have been keeping an eye on market performance and 2021 projections. Based on reports issued from the National Association of Realtors (NAR) and the Mortgage Banking Association (MBA) this coming winter could be another record setter for home sales.The National Association of Realtors' Chief Economist Lawrence Yun predicts that in 2021 mortgage rates will remain low, home prices will increase by 3%, existing home sales up by 9%, and a 23% surge in new home sales. NARs reported that mortgage applications are up 20% year over...

23 Nov

Posted at 07:00h in Angel Oak Updates, Blog by
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Thanksgiving, like many other things this year, might look a little different. Gatherings might be smaller in numbers or maybe it will be a virtual celebration for your family this year. This is all the more reason to make it special for you and your in-home or virtual guests. We have some suggestions for decorating your table without visiting a store or buying anything – it just happens to be brought to you by nature! Look in your refrigerator Fall produce is beautiful! Green apples on a platter or a beautiful pear at each place setting is lovely. Add red apples, green...

16 Nov

Posted at 23:58h in Angel Oak Updates, Blog by
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Are you familiar with Bank Statement loans for self-employed homebuyers?  Without it, many self-employed people cannot qualify for a home loan. In fact, our Bank Statement loan is one of our most highly utilized products. Many clients tell us they were concerned about qualifying because their tax returns do not reflect their true income. They are very relieved to find out they can qualify for a home loan using their personal or business bank statements as along as they meet the requirements. Self-employed people are successfully buying homes right now and getting to the closing table with us! The Self-Employed Population Continues...

09 Nov

Posted at 10:09h in Angel Oak Updates, Blog by
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The home purchase market is booming and is expected to continue into 2021. The Mortgage Bankers Association (MBA) just released their 2021 market forecast announcing that purchase originations are expected to grow 8.5% to a new record of $1.54 trillion in 2021. On top of that, a new record was set the week of October 28th with the average loan size up to $372,600. This is great news for anyone thinking about selling and buying a new home. Keep in mind that inventory could still be tight, though, and you might have to act fast to get the home you want. Is...

02 Nov

Posted at 10:21h in Angel Oak Updates, Blog by
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The market is shifting and you're going to like it! The Mortgage Bankers Association (MBA) just released their 2021 market forecast announcing that purchase originations are expected to grow 8.5% to a new record of $1.54 trillion in 2021. On top of that, a new record was set the week of October 28th with the average loan size up to $372,600. This is great news for our industry! Inventory could still be tight, though, and homebuyers will have to act fast to get the home they want. That's why you need a lender ready with loan options. Maybe your homebuyer qualifies...