Matthew Smith, Mortgage Professional

Matthew Smith, Mortgage Professional Housing market and financial literacy education to help you succeed in your homebuying journey.

Are you overpaying on your mortgage?With rates moving lower, it’s worth checking. Comment “ANALYSIS” for a free review. ...
01/09/2026

Are you overpaying on your mortgage?
With rates moving lower, it’s worth checking. Comment “ANALYSIS” for a free review.

Ready to turn the tables in your home-buying journey? Our latest blog unveils the secret to converting your next offer i...
03/08/2024

Ready to turn the tables in your home-buying journey? Our latest blog unveils the secret to converting your next offer into a CASH OFFER, giving you the competitive edge you need in today's market.
Dive into our insights and get closer to securing your dream home.
Got questions or need more info? Drop me a DM anytime. Your pathway to homeownership just got a major upgrade!
[email protected]" rel="ugc" target="_blank">https://neohomeloans.com/03/08/2024/turn-your-offer-into-an-all-cash-offer/?lo=[email protected]

01/31/2024

If you are a homeowner and have not done this, you could be missing out on a huge wealth-building opportunity.

It's called an Equity Analysis Plan 🏠💰📊

You likely have a lot of equity if you have owned your home for a few years. If you want to learn how you can leverage this equity, send us a message to request a personalized Equity Analysis Plan and fast-track your path to financial freedom.

01/30/2024

Recently had the opportunity to work with my friends at Top Equity Realty and help coach some of their new realtors on mortgage basics and strategies for structuring winning purchase scenarios in 2024.

If you're an agent looking for a refresher on the loan products that are available to your clients right now, this should be very helpful!

12/27/2023

What's going on with the Federal Reserve, inflation, and mortgage rates? 📉🏠

With the inflation rate getting close to the 2% target and unemployment still relatively low, the Fed voted during their December 13th meeting NOT to increase the fed funds rate. They also mentioned they expect at least three rate cuts in 2024 if things continue to improve.

This rate pause means that the Fed is optimistic that inflation will continue to improve, and lower inflation means lower mortgage rates. And if we enter a recession (which most economists believe will happen), rates could drop even further.

Remember, preparation is key in this market! Starting the pre-approval process early will make sure you are able to submit an offer on a home right away and lock in a lower rate when the time is right.

If you'd like to know exactly what you need to do to prepare for a successful home purchase in 2024, let's chat! Feel free to send me a message with any questions ☺️

12/13/2023

Homeownership is possible today! It just takes some preparation and the right team to guide you.

If you’re interested in buying a home at all, the best thing to do is work with a mortgage advisor to get pre-approved and find ways to make your purchase more affordable.

We can either help you get into a home with a manageable payment and start benefitting from appreciation right away or we can help you strategize for the shift in the market, so you are prepared to submit the strongest offer and beat the competition when the time is right.

If you have any questions about what you should be doing to prepare to buy a home, or if you would like to start the mortgage pre-approval process, send me a message!

11/22/2023

Lower inflation and higher unemployment have caused mortgage rates to improve recently – which is great news!

But even that small drop in rates resulted in a LOT of demand for mortgages, which never happens this time of year. We saw application numbers like we saw in June and July at the peak of the homebuying season.

There’s a lot of pent-up demand in the housing market right now. If you’re sitting on the fence waiting for rates to hit a certain number, be prepared for a lot of competition and less options.

How can you combat that? By starting the process now! Put your mortgage and real estate team together, identify your wants and needs, and get pre-approved for a loan so you can strike quickly and get your offer accepted before the floodgates open next year.

11/08/2023

A lot of people still believe that we’re heading to a repeat of 1980s inflation, but current economic indicators say otherwise!

The unemployment rate hit a low of 3.1% in April and has since increased to 3.9%. This change is more than a statistic – it’s an indicator that a recession is coming, which means lower mortgage rates and a more affordable housing market.

Remember that economic cycles are just that – CYCLES. They come and go, and with them come fluctuations in homebuying conditions. It’s been rough in the housing market over the past year, but the cycle is starting to change.

Keep an eye on these trends and be ready to make your move when the time is right!

11/06/2023

I’ve been having a blast joining Utah Real Estate Essentials for these market updates and sharing tips for WINNING in today’s market! 🏘️💲

This week we talked about an exciting new program Fannie Mae that is going to make buying a multi-unit property a lot more affordable!

Starting November 18, you will be able to purchase an owner-occupied multifamily home (2-4 units) with as little as 5% down.
Right now, a 15% down payment is needed for 2-unit properties, while 3–4-unit properties require a 25% down payment.

This new program offers a fantastic chance to generate rental income and/or ease the burden of mortgage payments with only modest upfront costs! And to make things even easier, you will be able to use the projected rents from the other units as income to help with qualification.

If you’d like to explore your options for buying a multi-unit property with minimal cash investment, send me a message!

11/03/2023

POP QUIZ! What happens 100% of the time when the unemployment rate bottoms and heads higher? 🤔🏠📈
Check out these graphs showing historical unemployment rates (top chart) and 30-year fixed mortgage rates (bottom chart).
New jobs numbers were recently released, and they show the unemployment rate bottomed at 3.4% in April of 2023 and is now up .5% to 3.9% as of October 2023.
Why is this important? Because every time the unemployment rate bottoms out (circled in red) and begins to head higher, it’s a 100% predictor of an economic contraction.
And mortgage rates drop precipitously every time there’s a recession!
Now, this won’t be an immediate drop to 5% mortgage rates. We will likely see some ups and downs in the months ahead, but the recent unemployment report and the Fed rate hike pause are clear indicators that the trend has reversed from higher and higher mortgage rates towards lower rates ahead.
With the housing market so low on inventory, you can expect lower rates and greater affordability to bring buyers off the sidelines and ultimately pressure home prices even higher.

09/20/2023

Most people are able to qualify for a home loan with the traditional mortgage programs, but that's not the case for everyone. There's a large demographic that doesn't fit into the mold of conventional home financing:

✅ Entrepreneurs who don't have a full two years of tax returns available
✅ Recently self-employed contractors who don’t have a long history of 1099 income
✅ Newly graduated professionals (doctors, lawyers, etc.) who have lot of student debt but temporarily low income

At NEO Home Loans, we've made it our goal to help those who are told NO when it comes to traditional mortgage financing. We have several unique programs that allow unconventional borrowers to purchase a home with competitive terms - WITHOUT needing a large down payment or a long history of income.

If you've struggled to get approved for a home loan and feel like you have to put off your homebuying plans, we have options for you! Feel free to send me a message here or email me at [email protected] to learn more and get started purchasing the home you want. 😊🏠

Address

2063 E. 3900 S
Holladay, UT
84124

Opening Hours

Monday 8am - 5pm
Tuesday 8am - 5pm
Wednesday 8am - 5pm
Thursday 8am - 5pm
Friday 8am - 5pm

Telephone

+18018157077

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