Patrick Newsome Mortgage

10/23/2025

05/02/2024

https://www.mbshighway.com/gallery/BidOverAsk-5-2-2024-png Nationwide, the typical home sold received 2-3 offers this year. Although it can feel uncomfortable to put in a bid that is above the asking price, the price appreciation can quickly compensate for the extra payment, and in the long-term, you own the home you wanted and are building long-term wealth through home equity. Ask me about my Bid Over Asking Price tool and I'll take you through the math!

Nationwide, the typical home sold received 2-3 offers this year. Although it can feel uncomfortable to put in a bid that is above the asking price, the price appreciation can quickly compensate for the extra payment, and in the long-term, you own the home you wanted and are building long-term wealth...

04/19/2024

https://www.mbshighway.com/gallery/MBSHighwayHousingIndexApril2024-4-9-2024-png The MBS Highway National Housing Index rose 3 points in April 2024, resuming its upward trajectory after a brief pause in March. While buyer activity improved month-over-month in most regions, it remains lower compared to the same time last year. Home prices, meanwhile, continue to move higher, boosted by seasonal demand and buttressed by low inventory.

The MBS Highway National Housing Index rose 3 points in April 2024, resuming its upward trajectory after a brief pause in March. While buyer activity improved month-over-month in most regions, it remains lower compared to the same time last year. Home prices, meanwhile, continue to move higher, boos...

04/17/2024

https://www.mbshighway.com/gallery/NAHBJanAprJulOct-4-15-2024-png Home builder confidence held steady in April, and while this ended four months of gains, sentiment remains in positive territory above the key breakeven threshold of 50. Among the index components, buyer traffic and current sales expectations ticked higher. Yet, sales expectations for the next six months softened as many buyers remain on the fence.

Home builder confidence held steady in April, and while this ended four months of gains, sentiment remains in positive territory above the key breakeven threshold of 50. Among the index components, buyer traffic and current sales expectations ticked higher. Yet, sales expectations for the next six m...

04/16/2024

https://www.mbshighway.com/gallery/NewHomeConstructionMarJunSepDec-4-16-2024-png Builders pulled back on new construction last month, with Housing Starts falling nearly 15% from February. Starts for single-family homes, which are the most crucial due to high demand, were also down 12.4%. There was a similar trend in future construction, with Building Permits also ticking lower despite much needed supply.

Builders pulled back on new construction last month, with Housing Starts falling nearly 15% from February. Starts for single-family homes, which are the most crucial due to high demand, were also down 12.4%. There was a similar trend in future construction, with Building Permits also ticking lower d...

08/02/2022

Homebuying Step 7 of 7: After you have reviewed the final numbers in your Closing Disclosure, you execute and sign all of your loan documents. Congratulations, homeowner! This is the last step to finding the happiest way to your new home!

07/31/2022

Homebuying Step 6 of 7: Before we can close on your home loan, we ensure all underwriting conditions have been met, then finalize all loan requirements. By this time, you will know the exact amount of funds you’ll need to provide. We will also inform you of the date and time for your closing, usually scheduled with the title company.

07/29/2022

Homebuying Step 5 of 7: During this stage, our underwriter will review all of your documents, including the appraisal report, then provide an approval decision. The underwriter will also indicate any additional conditions that may be necessary for you to get loan approval.

07/27/2022

Homebuying Step 4 of 7: After your home is under contract, we will order an appraisal, then your application will be managed be a loan processor. They will help you determine what supporting documentation will be needed to help you qualify for your new home loan.

07/26/2022

In today’s real estate market, a buyer’s offer has to be extremely competitive to get accepted by the seller! Our Certified Pre-Approval Letter gives an edge over the competition because it's fully underwritten pre-approved. Which means that the majority of the underwriting process is complete before the offer is even submitted. Reducing the time to close the loan, with fewer financing conditions than a standard pre-approval. If you want to stand out from the crowd, contact me today for more details! -Approval