Lauren Hughes, Columbia, MO (2026)

What started as a passion for helping Veterans achieve their goals of homeownership blossomed into a dedication to assisting all types of clients. I experienced the excitement of first-time home buyers, the thrill of successfully closing investment properties, and the joy of finding that perfect condo or vacation home. I am here to help you attain a slice of your American Dream, whatever that may

look like. I have experience in government loans, conventional loan products, and even the wholesale side of the mortgage industry— making me a well-rounded and knowledgeable Loan Officer to work alongside during one of the most important purchases in life. In my free time, I enjoy cooking, tending to my plants, and caring for my four senior pups: Mika, Bruno, Oscar, and Barnaby. I sincerely look forward to speaking about your goals and helping you get there. I am excited to help you however I can on your home-buying journey! Feel free to click any link to get pre-qualified, or give me a call!

11/15/2022

How Significant was the Rate Drop and Will it Last?

We haven't had good news like this since July! The Consumer Price Index, the primary measure of inflation, was below expectations.

Rates dropped over 0.5%.
That's savings of over $500 per loan on a $500,000 loan!

We aren't sure if this is the moment of peak inflation we have awaited... or just a blip.

What does it mean for your house hunt? Your home purchase just became less expensive AND you still have the negotiating power in this market. We don't know what the future holds for rates, but now is a great time to lock it in.

Happy House Hunting!

10/24/2022

Dismayed by rate increases? Use seller credits to save thousands!

Rates have increased for 3 weeks in a row. We hear on the news that inflation is too high and unemployment is too low. We know that will change, but for now, higher rates are here to stay. While this doesn't qualify as "good news" it is important to remember that rates in the 7's are a historical norm.

We are working with buyers to adjust to this new normal. One of the tools we talk about often is the Seller Paid 2/1 Buydown. In fact, we wanted to share a strategy you may be able to use in your home search. Remember, every scenario is different and we need to customize a solution based on your credit score, down payment and other qualifying factors.

For a $500,000 loan at 7.25% interest rate, your loan payment would be $3,411.
We use seller credits to buy your rate down to 6.875% and pay for a 2/1 buydown.
The interest rate for your first year would be 4.875% with a payment of $2,646.
Year two, 5.875% with a payment of $2,958. Years 3 through 30, you are at 6.875% rate with a payment of $3,285.
The total savings for this scenario is a whopping $21,131!

We would be happy to put together a custom analysis for your scenario. Then we can work with your agent so they know exactly what you need to close on your next home.

10/13/2022

But do you know what is scary? The interest rate on rent is 100%. The average net worth of a homeowner is 40 TIMES higher than that of a renter in the U.S. If you're on the fence about buying, just remember that homeownership actually saves you money. If you're curious to know your buying power, please reach out to me directly or visit my website link in my bio!

10/05/2022

TLDR: Don't let the current interest rates prevent you from buying. They're still historically low. This really is a great time to start building equity, especially before we likely see rates raise even more throughout the year.

Interest rates have climbed three weeks in a row. We might see things decrease a little bit this week. Remember, the FED is projected to increase rates through the end of the year. Now that sellers are willing to negotiate, we have tools to help offset some of the increased rate.

There are two things to keep in mind as a potential homebuyer:

1.) Higher rates are here to stay - remember before 2008, interest rates averaged 8%. Take a look at the 12% average for the 1980s!

2.) Home values may decrease in some markets, but this isn't 2008 and demand is still driving the market. If you are a serious homebuyer, now is a great time to start building equity.

The 3% interest rates we saw over the last two years simply are not coming back. These were driven by the global pandemic, and absolute economic collapse. I don't know about you, but I surely would not go through that again just for a bottom-of-the-bucket rate.

Feel free to message me, or visit the link to my website to see what you can afford today!

Address

Columbia, MO

Telephone

+13609354030

Website

https://bkcomortgage.com/find-your-loan-officer/mlo/lauren-hughes/, http://NMLSConsumerAccess.org/

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