02 Nov Purchase Market Is Booming And Inventory Is Tight
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 for traditional guidelines…..but maybe they just miss it. Do not end up with an unpleasant surprise!
Have your buyer call us first and we can tell them upfront if they qualify and match them to the right loan product. We are a full-service lender with traditional loans AND non-QM options.
- Bank Statement – No tax returns required. Eligible self-employed borrowers can qualify using personal or business bank statements.
- Investor Cash Flow – Property investors qualify based on rental analysis – not income or tax returns.
- Portfolio Select – For homebuyers who just miss qualifying under traditional guidelines.
- Jumbo – Prime and non-QM Jumbo options for home purchases outside the conforming limit.
- FHA, VA, USDA – Government insured loans with down payment options.