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Week-End Review 9/30/22

Well… WE MADE IT!!! Hurricane Ian came and went, and luckily the Golden Isles were not severely impacted. Yes there were some tidal surges, but for the most part we made out well. Hope you and all your friends and families faired well too.

Speaking of tides, looks like the tides are changing for the real estate market as well. Things have been trending to a buyer’s market from a seller’s market. Of course, we all know the woes of clients for both sides of the transaction when trends change. It takes a while for sellers to get onboard with potential concessions, and buyers to know what to ask for. Thank goodness for Realtors and Real Estate Agents to advise their clients accordingly. Us on the lending side… more challenges or “opportunities” present themselves as we find the right mortgage product to help our clients.

One such product we offer is a Temporary Rate Buydown. We can help clients lower their interest rate by up to 2% at the start of the loan. It gives buyers some extra flexibility with lower monthly payments at the beginning of the loan. So, it’s a great option for borrowers who are upwardly mobile and expect their incomes to increase over the next couple of years. We also expect the market to turn and rates will eventually start to decrease which will offer opportunities in the future to refi at lower rates. The program is available for conventional primary and second home purchases, FHA and VA primary home purchases.

Give us a call for more information on not only this loan program but other mortgage products available. When times get tight, we have to get creative. We look forward to working with you. We are here for you!