“Transitory inflation” has proven to have much more staying power than the word transitory might suggest, and as a result many borrowers are seeing the purchase of a home grow ever more difficult—specifically, more expensive. For borrowers familiar with the unprecedentedly low rates of yesteryear, this can be extremely frustrating, or even feel unfair. However, … Continue reading "How Inflation May Impact Lenders"
There are a variety of reasons that future homebuyers across the nation are looking into down payment and closing cost assistance programs right now. With the recent rise in interest rates, along with home prices that have been rising for a while, many borrowers need down payment assistance (DPA) just to afford the home in … Continue reading "Guide to Qualifying for Down Payment Assistance"
With the unpredictable housing market many lenders and real estate agents are looking for additional ways to grow their business. Buyers are still turning out in droves to get a new home making the home buying market extremely competitive. For lenders and real estate agents, this could lead to opportunity within the market if you’re … Continue reading "Tips for Lenders and Real Estate Agents to Grow Business with Chenoa Fund Down Payment Assistance"
The refinance market has been extremely hot during recent years. Specifically, not long after COVID lockdowns started many lenders found themselves doing so many refinances that it became difficult to make the time to originate a mortgage, much to the frustration of some borrowers looking to take advantage of low rates. But in recent months … Continue reading "Why Mortgage Lenders are Pivoting to Home Purchases Rather Than Refinances"
Purchasing a home is one of the biggest personal and financial decisions you will ever make. With the constant evolution of the housing and job markets, it can be tough to determine a rough number to save in order to buy a house, and without a rough number to shoot for it’s hard to set … Continue reading "How Much Money Do You Need to Buy a House?"
Buying a home can be a long and complicated process, especially for first-time homebuyers without family or friends to give them pointers. It isn’t made easier by the fact that many of the steps to buy a home may happen at the same time, or slightly staggered, or in different orders depending on your personal … Continue reading "Getting To Know The Home Buying Process"
In 2019, the US Federal Reserve issued a report stating that homeowners had a median net worth of $255,000. Renters, on the other hand, had a median net worth of $6,500. This staggering difference in wealth represents an enormous advantage for some homeowners—and possibly their children. “You enter the middle class through homeownership, right? That’s … Continue reading "Building Generational Wealth Through Homeownership"
Savvy loan officers know that waiting on luck is a surefire way to have an unlucky career—luck is made by planning ahead and being prepared. These same principles apply to homebuyers as well, and one of the best ways to be prepared when buying a home is to obtain a preapproval for a loan. For … Continue reading "4 Reasons You Should Get Home Buyers Preapproved"
The housing market is hot right now and, in many areas, housing prices have never been higher. This exacerbates an existing problem for many borrowers, specifically how difficult it can be to afford a down payment (and closing costs) when saving takes time and home prices keep growing. Down payment assistance can help alleviate this … Continue reading "4 Successful Down Payment Assistance Strategies For Lenders"
Becoming a homebuyer these days sure can be challenging. Many people don’t have the advantage of purchasing a home right away and become renters first. Owning a home is a decision that has to fit your lifestyle and goals. Most of the time, however, this takes years of preparation before having the ability to buy … Continue reading "How Lenders May Be Able To Turn Renters Into Homeowners"