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...

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...

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...

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...

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...

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...

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...

Are you thinking of upsizing, downsizing or sizing somewhere in between? Maybe you're staying put but would love a better interest rate. We have helped you before and we can help you again! Many times we hear from past clients that circumstances have changed and they are worried about qualifying for a loan now. The good news is that we have many different loan products. Most of them are available for new purchases and refinances. So whether you are staying or going we have options that might work for you. We can tell you if you're eligible, what loan products fit your...

Do you have a homebuyer who isn’t exactly sure if they qualify for a traditional loan that meets the guidelines set by Fannie Mae and Freddie Mac? Have them call us! We can let them know if they meet the requirements and if not, we have loan options that might help them. One of our loan products is a full doc mortgage called Portfolio Select. This loan is for homebuyers who just miss qualifying for a Prime loan. The key is to have your client contact us early in the process. Our advisory approach and ability to match the right loan...