Loan officer numbers could spike if rates dip – CEO
Consumers slowly becoming accustomed to higher-for-longer rates? During the pandemic, mortgage rates plunged and scores of homeowners and buyers rushed to take advantage of ultra-low borrowing costs, triggering a purchasing and refinancing surge. Borrowers got used to those rock-bottom rates between 2020 and 2022, meaning the subsequent spike in rates – triggered in part by […]
FHA and Conventional Construction to Permanent Loans: Understanding Your Options
When it comes to financing a new home, there are a variety of loan options available. For those looking to build from the ground up, construction loans provide a pathway to turn a blueprint into a reality. Two of the most common construction loan options are Construction to Permanent (C2P) loans, which are offered through […]
How mortgage brokers can supercharge real estate investors to find the perfect opportunity
DSCR loans are for investors seeking rent-ready properties that require little to no work at all, but cash flow well enough for the investor to make a monthly profit that becomes passive income over time. Brokers should invest time into becoming experts on these types of projects, so when these deals cross their desk, they […]
Unlocking the Power of Your Home Equity: How to Upgrade Without Breaking the Bank with The Southern Home Loans at Luminate Bank
If you’re one of the many homeowners who locked in a low interest rate when you bought your home, you might be feeling a bit hesitant to sell—even if your current space is starting to feel a little tight. After all, why give up that great deal, right? But here’s the good news: What if […]
DOGE job cuts causing uncertainty in DC housing market
This sentiment echoes the thoughts of First American chief economist Mark Fleming, who said new home sales were below what was needed, especially considering rates decreased in the month of February. He noted that builders still face supply-side challenges, which may become more difficult when tariffs are enacted. Mark Fleming of First American notes […]
Top Mortgage Mistakes to Avoid as a Homebuyer
Buying a home is one of life’s biggest financial steps, and navigating the mortgage process can feel overwhelming. But with the right guidance, you can sidestep common pitfalls and secure the best possible loan for your needs. Southern Home Loans, powered by Luminate Bank, is here to help you avoid these top mortgage mistakes, ensuring […]
CFPB looks certain to survive as judge pushes back on Trump cuts
“So for our industry, the biggest worry was that they would delete the bureau or essentially carve it out – that all of its responsibilities and rules and regulations would still be in place but frozen in time. And from the industry standpoint, that was not ideal.” Is the CFPB remaining in place a good […]
Understanding FHA Streamline Refinance: An Easy Path to Lower Mortgage Payments
For many homeowners with an existing Federal Housing Administration (FHA) loan, refinancing can often seem like a daunting task filled with extensive paperwork and meticulous credit requirements. However, the FHA Streamline Refinance program is designed to simplify the process, making it faster and less cumbersome to reduce your interest rate and monthly mortgage payment. This […]
Will Rocket take over the (mortgage) world?
“Home search, brokerage, financing, title, closing and servicing should be seamless, but today they’re not,” Mr. Krishna said on a call with analysts. “If we truly want to fix that, we have to own the client experience from beginning to its true end.” The timing is no accident. After a historic boom in home sales […]
Understanding VA Streamline Refinance: Simplifying Home Loans for Military and Veterans
The VA Streamline Refinance, also known as the Interest Rate Reduction Refinance Loan (IRRRL), is a program specifically designed for veterans and active military members looking to reduce their mortgage rates and lower their monthly payments. This refinancing option, backed by the U.S. Department of Veterans Affairs (VA), offers significant benefits tailored to the needs […]