Kevin Hollister - Mortgage Loan Originator - NMLS #333744; 1686046

01/07/2024

Short-lived concerns on real estate in Texas are outweighed by the undeniable growth trajectory. The real challenge lies in maintaining a balance between supply and demand over the long term. Exciting times ahead for the Texas real estate landscape!

Economic power is flowing to the Southern region of the country, with cities like Houston, Dallas, Nashville, and Miami becoming hotspots.

11/30/2023

New loan limits for 2024 have been announced, and the single-family conventional loan limit is now $766,550, vs the previous $726,200. The FHA single-family FHA Loan limit is now $498,257 vs the previous $472,030.

Conforming loan limits can play a part in helping buyers of higher-priced homes avoid larger down payments and the more restrictive lending rules of “Jumbo” loans.

Home Price Relative to Down Payment Conventional (single unit):
5% down - $806,894
10% down - $851,722
15% down – 901,823
20% down – 958,187

Home Price Relative to Down Payment FHA (single unit):
3.5% down - $516,608

Conventional Loan Limits:

11/29/2023

Rates have moved off recent highs, is this a trend? If so, in the coming months we could see the conforming 30 yr fixed rate to break back under 7.0% in early 2024! Rates in the 6.0's will certainly open the door for more buyers/sellers for Spring 2024

The "base case" of a narrower, more sideways range between CPI and NFP is increasingly being disproven by a more bullish reality.  Especially after the past two days, it's beginning to look a lot...

11/23/2023

During this season, I'd like to pause and express my gratitude to our friends, clients, and partners. Wishing you and your family a blessed Thanksgiving!

11/21/2023

📣💰 High Rates Bring High Yield Savings - Don’t Miss Out! 💰📣

Looking to make your money work for you? 🚀 High rates mean prime investment opportunities in bonds, income-based mutual funds, and High Yield Savings. Make sure your savings are at least in a high-yield savings or money market account that is earning at least 4.0% interest.

💸 For every $10,000 at 4.5% APY, you can earn $450 for the year! 💸
While the "big banks" may not offer much in interest, they do have user-friendly websites. Switching banks can be a hassle, especially with automatic bill pay and familiarity with your current banking website.

🔄 An alternative to switching: Connect your current bank to a new high-yield savings account, allowing for quick bank-to-bank transfers that may only take a day or two—plenty of time for major expenses.

🌐 Whether online banks or banks with local branches —just ensure your deposits are FDIC-insured (each depositor is insured for at least $250,000).

🚨 NOTE: Don't forget to check minimum deposit requirements to avoid fees and the maximum number of monthly withdrawals.

Start maximizing your savings now! 💪💵

11/11/2023

🇺🇸 Gratitude to Our Veterans 🇺🇸

This Veterans Day, we honor the brave men and women who've served our nation. Your sacrifice and courage inspire us all. Thank you for defending our freedom and shaping a brighter future. 🙏 🇺🇸

10/18/2023

Home affordability is the #1 problem right now. Rates have risen the past two months, the number of buyers is decreasing, and many agents have expressed a recent shift in the market. With the average 30 yr. fixed loan in the mid to high 7’s, buyers want options and are responsive to lower rates with buydowns.

*Quick numbers on the impact of rate a buydown on mortgage payments. 👇

Permanent Buydown: the most common type of buydown and can be paid for by the buyer or seller (with a credit).

In the current market, a buydown will decrease the payment by roughly a 4/1 ratio vs a price reduction.

For example, a $350,000 purchase price (5% down), a seller credit of $7,000 (2.0%) used to pay points will reduce the rate enough to save $199 per month.

To make the same $199 per month impact, the price would have to be reduced by $28,000.

10/11/2023

One of the nicest clients we have ever worked for! Congratulations Leandro, and thank you for your complimentary review!

"I had the privilege of working with Kevin as my home lender, and I can't recommend him highly enough. Kevin's expertise, dedication, and exceptional service made my homebuying journey truly outstanding. He tailored a mortgage solution perfectly suited to my needs, guided me through every step with patience and clarity, and secured the best possible terms. What sets Kevin apart is his unwavering commitment to his clients and his unmatched attention to detail. His warm, personable nature also made the process enjoyable. Thanks to Kevin." - Leandro M Fernandes

10/06/2023

🚨 Important Update on Student Loan Payments! 📚

After three years of deferment, federal student loan payments are making a return. Here's what you need to know:

1️⃣ The student loan moratorium is ending after being extended eight times in three years.
2️⃣ Interest accruement is back from September 1, 2023.
3️⃣ Loan repayments resume in October, with at least 21 days' notice.
4️⃣ There's a 12-month transition period until September 30, 2024, where missed payments won't affect your credit score.
5️⃣ Introducing the SAVE Plan in July 2024, which adjusts payments based on your income.
6️⃣ Loan servicers may face challenges, especially for first-time payers.

It's essential to verify when your payments will start so that you do not damage your credit any late payments. Given that lenders will have different service levels it is better to be proactive and review your repayment terms and timing. Given the sheer volume of loans, late payments even reported in error could take extra time to correct.

Since lenders already count minimum payments, this is not likely to effect most buyers ability to qualify for a home loan.

Stay informed! 💰

09/28/2023

Why Choose Kevin Hollister and Team?

We pride ourselves on being a transparent and trusted advisor throughout the home-buying process. Our goal is to provide clarity through reliable information and explanations that will give you the confidence to become decision-ready. We invest our time, the customer controls the timing. Accessibility for answers is our priority before and years after a transaction.