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Market Update:
Week of 7/13
The June Consumer Price Inflation Index came out Tuesday 7/14 and reversed course what we saw from the market Monday. The report provided some welcomed evidence that underlying inflation pressures continue to ease despite recent energy market volatility. As a result, traders have sharply reduced expectations for a near-term Fed hike.
As Fed Chair Kevin Warsh makes his first testimony this week, investors will be watching closely for:
* Additional insight into the Fed's task forces
* Inflation outlook
* Balance Sheet Policy
* Future communication practices
Week of 7/20
This week has started off with reversing course from what we saw last week. Oil has gone back up above $85/barrel and with the growing escalation in Iran the 10-year treasury yield has risen to above 4.6%. Until there is more clarity on both inflation and the Middle East, expect rates to remain volatile.
Conventional Home Loans
Your typical loan type for good to great credit and those seeking to make large down payments. The minimum down payment for first-time homebuyers is 3%.
Jumbo Home Loans
These are loans where the loan value is above the conforming loan limit of $832,750. Often requires higher down payment and reserves requirement.
Down Payment Assistance Loans
Want to buy a home but have limited assets? This is the perfect loan type for you. Let's be sure to strategize with your realtor to gather seller concessions so you have limited out of pocket expenses.
Loan Programs
Understanding your loan options is an important piece of making strong financial decisions.
Construction & Renovation Lending
Looking to custom build your home or renovate your current house? We've got just the loan for you with any of our construction to permanent or renovation loan options. Be sure to start interviewing for your General Contractor.
FHA Home Loans
The perfect program for first-time home buyers and borrowers with fair to good credit. The minimum down payment is just 3.5% of the purchase price.
Land Loans
Financing used to purchase a lot either for future home construction or investment. This loan comes with a higher down payment and potential balloon payments if not paid off by a certain timeframe.
This is a great program for investors who want an easier loan process. No income documents necessary and competitive rates. Biggest thing we're looking for is making sure the mortgage to rent ratio is 1-1.
DSCR (Investor Loans)
Portfolio Lending
This refers to loans that lenders originate and keep on their books rather than selling to secondary market. Usually comes with more flexible underwriting and easier to approve borrowers.
VA Home Loans
The perfect loan type for those who have served or are currently serving. Thank you for your service!
Adjustable Rate Mortgage Products
These programs offer fixed rates for a finite amount of time then will adjust according to the program. IE: 7/1 ARM is fixed for 7 years and will adjust each year afterward.
Home Equity Line of Credit
Need access to capital but don't have it saved up? HELOC's are a way to gain access to cash using your home as leverage.