resources

Announcement!!

Hello, If you're looking for a home with an FHA Loan or thinking about it, you'll love the recent news about how FHA reduced their premiums on MIP. But you'll need to be educated on the impacts, and they can benefit you. I've listed three examples in the videos below to help you better understand the benefits. I've also attached HUD's official announcement with the details below ( PDF ). .................................... ➡️ Old MIP vs. New MIP https://mcedge.tv/3zuwds * This video shows the differences in the MIP premiums. ..................................... ➡️ New FHA vs. Conventional Loan Comparison https://mcedge.tv/gilhdj *This video highlights how FHA Loans could benefit a larger pool of buyers. ..................................... ➡️ How The Changes Increased Buying Power https://mcedge.tv/99k8bo *This video shows the increased buying power from the decreased MIP premiums.

LLPA Announcement

If you take a look over at the heat map it shows you the changes both good and bad. It's telling me that 20% down and a great credit score is now getting more penalized. Changes take effect 05/01/2023 The official changes can be found at https://singlefamily.fanniemae.com/media/9391/display Thanks for watching and we'll be sure to keep you updated on any further developments.

Top 5 Reasons to Buy Right Now!

Hey there! Are you a buyer that has gone to the sideline to wait to purchase a new home or has been delayed from entering the real estate market? If so, I'm sure your reasons could be valid, but I wanted to ensure you have all the information on whether this is a wise choice. The main issue, I assume, would be " affordability " from the significant rise in rates that has lowered your buying power or knocked you out of qualification. You might think this is a negative, but I wanted to highlight this exact issue and show you that it is an excellent thing for you as a potential home buyer. In the video above, I've laid out the domino effect of the increase in the rates market, which allows you opportunities that have not been present in the last few years for home buyers. The lack of affordability and inventory is an exciting and challenging dynamic in this market, making it completely different. What I mean by that is that usually, these two forces don't line out together in this magnitude. For example, when affordability issues last crept into the market, the housing supply spikes with the pullback of buyers, which we experienced recently in 2018/19. The main issue that has caused a much-needed pause in our housing market has been the spike in rates, which caused our affordability issues. So we should focus on the opportunities that present you as a home buyer now vs. just six months. ........................................... Six Months Ago vs. Today Six Months Ago: Buyers competed against 10+ offers per property. Buyers had to release all loan, inspection, and appraisal contingencies. Buyers had to convert their loans into " cash offers " to compete. Buyers had to overbid on their offers to compete. Buyers had to settle on whatever home came on the market. Buyers are being delayed in converting their " cash overs " into loans in this high-rate environment. Today: Few Buyers, which means less competition. Buyers can write offers with and maintain their contingencies. Buyers with minimum down payments can purchase again. Buyers can get fair value or even undervalued properties with their offers. Buyers have more choices of homes than buying whatever comes to market. With help from lenders like myself, we can structure much better terms, like buying down the rate.

Why are rates doing this?

Things to keep in mind as you watch the video. You know as well as I do there are cycles to everything. What goes up must come down. We are currently in the cycle of the Fed hiking rates to control the spending in the economy. Remember, they are not raising mortgage rates directly. Here is a link to a video that talks more about this topic as well: https://www.boydloans.com/presentation/37608 Nobody has a crystal ball. The only thing I will say is look at it historically. Looking at that shows me they will come back down but most likely not till sometime next year. What are you doing in the mean time to help your buyers and sellers???

Success Stories | How This Buyer Used Creative Financing to Get Their Offer Accepted

We have to use creative financing in today's market otherwise it would be really hard to afford the home you WANT! Learn how we presented this offer along with using the seller buydown to get their offer accepted.

1st Time Home Buyer

Simultaneous Closing

The Refinance Process

Sale and Recast

Build Your Brand with Homestead Financial Mortgage

Looking for a partner to help build your brand? At Homestead Financial Mortgage we are more than willing to invest in our relationships. In fact, we value our relationships more than the transactions. Our partners have full access to our marketing department and media studio to develop content. Let's have a chat on what a partnership could look like!

Success Stories | When the Appraisal Comes in Low

I want to share this success story with you! Have you ever worried about what happens when the appraisal on the house you are purchasing comes in lower than the contract price? You are usually told one of four things. You have to cover the difference, the seller covers the difference, you meet in the middle or the seller lowers the price. In the market we've had for the past two years no way the seller is paying for anything or for that matter lowering the price because there are lines of people waiting to buy that house. There is a way on the financing side that you don't have to cover that Gap dollar for dollar AND we can protect your rate, your payment (which we need for qualifying purposes), and your cash to close only goes up a little bit. It's called the Appraisal Gap Strategy. Watch the video to see how we helped this buyer!

How to regain your buying power in a rising interest rate market

Hey there! I wanted to reach out to buyers that have been searching during the time of the interest rate hike that's going on and see if we can get them back into the market. In this video, I want to show you how to regain that buying power and do it for half of the money you think you need. I say that because most of my clients are holding off from entering the market until they " SAVE " a significant amount of additional down payment to regain their buying power. You don't need to do that, and you don't need to liquidate all of your retirement funds either.

Success Stories | How this buyer got back in the game!

I want to share a success story! We haven't seen this in a long time but the market has moved enough that buyers have gained a little leverage back. Despite the negative views on seller concessions, I want to show you how we created a WIN for not only the buyer and buyer's agent, but for the seller and listing agent as well. With this particular buyer, they were currently reapproved at a different lender for only $650k. Five months ago they were looking around $800k. Drastically different homes in their new price range. They didn't want to settle. I was brought in and we were successfully able to structure a $20k seller buydown into the contract which means they were able to purchase the $780k home that they wanted! That's a $130k preapproval bump! Don't get discouraged because there are way we can get you your buying power back!

Get your buyers off the sideline and into the game

Hello! We just got this buyer closed on their new home. We have a huge affordability crisis on our hands due to elevated home prices and the spike in interest rates. Here is a strategy we used to get these buyers back in the game when their current lender could not. We gave them a preapproval increase of $130k....How??

Modernizing Your Open House

Hello, Modernizing your open house will be critical to running and pushing excellent content to potential consumers and buyers as the market shifts, as inventory builds. Each Property has its own story, from needing some " TLC " or help increasing the affordability to potential buyers in today's expensive housing market. I have combined a sample of technology I use and mixed it with content & strategies from my financing background. That enables me to help get valuable information to more buyers or agents who might be passing or thinking about stopping by your open house. _________________________________________________________________________________________________ 4-Step Process For Your Next Open House. Step 1: Input property information using this technology Step 2: Add specific content to help educate potential buyers. ( like Total Cost Analysis videos, Virtual Tours, Agent Video with property details, Loan Program PDFs to download, Matterport Videos, etc. ) Step 3: Publish the listing, which generates its unique property site, and can be used for active listings, coming soon, FSBO, etc. Step 4: A Open House Flyer is automatically generated to support your next open house. ( the QR code points to your unique property site and pushes content to the potential buyers or agent's phone when scanned )

Fed Hikes Rate Again, But Mortgage Rates have improved?

Hey there! I wanted to get this video out to explain the Fed Rate Hike today and how that will impact you. What? - The Fed increased rates today by.75 bps Why? - They need to do this to slow down inflation, which means they need to slow down the speed at which the economy is growing. When? - 7/27/2022 How to protect yourself? - You need to review and convert all of your short term debt ( equity lines, credit cards, etc.) and move into long term debt ( mortgages, e.g., 30 Yr Fixed Loans )

How to regain your buying power in a rising interest rate market

Hey there! I wanted to reach out to buyers that have been searching during the time of the interest rate hike that's going on and see if we can get them back into the market. In this video, I want to show you how to regain that buying power and do it for half of the money you think you need. I say that because most of my clients are holding off from entering the market until they " SAVE " a significant amount of additional down payment to regain their buying power. You don't need to do that, and you don't need to liquidate all of your retirement funds either.

How to Counter Low Ball Offers

In today's market you must be prepared for low ball offers. Why are we starting to see lower offers? It's due to a lethal affordability issue caused by rates rising and the already appreciating house prices. Put those two together and people are getting priced out of the market. So, don't take it personally when a lower offer appears in front of you. Understanding why and using this strategy will help the potential buyer afford your home while netting your seller more money than a price drop. The key is payment, and a buyer's goal is to achieve the lowest payment to obtain the loan the lender has qualified for them. I've put together these videos to show the Seller Buy Down strategy I use to help the agents and sellers I work with achieve the payment the buyer needs but at two-thirds the cost of a lower ball offer.

Drop Rate NOT Price!

The higher rates are impacting the buyers qualifications. This pushes buyers to lower price points and in comes the price reductions, as we are currently seeing. Most sellers have no idea how this is impacting their buyer pool. We must show them the numbers and teach them that lowering the rate has a way bigger impact on the buyer vs. lowering the price. Price vs. Rate: Did you know, and you'll see in the videos that are on the right side of the page, that a $30k price drop has the same benefits as a $10k seller buy down to the buyer's monthly payment? So, if that's the case then we can put $20k BACK onto the seller's net sheet vs. TAKING $30k off of it to address the affordability issues with buyers. Seller Buy Down: I wanted to show you how an SBD works and how both the Buyer & Seller can benefit when the SBD + is structured within a purchase transaction. Marketing Your Property: Now that you understand how powerful a tool it is to reduce rate vs. price with the Seller Buy Down, then let's market your property with a custom SBD Video from me so that we can spread and help affordability to all buyers.

Reviews

"Nathan helped us obtain a desirable rate, took my husbands active duty services in consideration, answered all the questions we had as homebuyers, and double checked things when we were hesitant and needed reassurance. We are first time homeowners and had no idea what we were doing, with his help we now know what to look for if we ever buy another home. We will recommend him to anyone who needs a loan in Indiana."

joshua blake s

"Going above and beyond what was expected"

jimmy d. r

"Nathan went over and beyond to make this big move for our family more comfortable. He was great at taking the time to explain things and answer any questions I had. It was a great experience."

kelly w