Joseph Hemann- NMLS 1494038

Joseph Hemann- NMLS 1494038 Sr. Loan Officer at CTC Mortgage - NMLS #1494038

08/21/2024

Guess what? Not all debt is a bad thing! 🤔 When managed smartly, it can help you build wealth. 💰💡

08/06/2024

CoreLogic reported a 0.3% increase in home prices for June with a forecasted rise of 0.7% in July. Can you afford to wait for rates to come down? Share your thoughts!

07/23/2024

Hey Future Homebuyers! Join me as I break down how Buy Now, Pay Later services can potentially impact your dream of owning a home.

07/18/2024

Hey Realtors! Let's make homes more affordable for your clients by leveraging seller concessions, rate buy downs, and single premium mortgage insurance. Together, we can make homeownership a reality for more buyers.

Here is an informative read regarding FICO scores and the difference in scores depending on the source.
10/10/2023

Here is an informative read regarding FICO scores and the difference in scores depending on the source.

05/02/2023

So, everyone is asking what the new FHFA’s new loan-level pricing adjustment (LLPA’s) are going to mean to homebuyers. In a nutshell, the LLPA is going to charge a fee to more qualified homebuyers and use that to give a credit to less qualified buyers in an effort help in home affordability.

This is an example of what it looks like. A homebuyer with sub 660 FICO and 20% down will pay a fee around 2.25% of the loan amount compared to the old LLLPA’s 3.0%. This could mean an extra $2,000 to $3,000 depending on the loan amount. The other end of this is that homebuyer with a 740 or greater FICO and 20% down with pay a fee of 1.25% compared to the .75% previously. This equates to an extra $1,200 to $2,500 depending on the loan amount. The homebuyers with FICO score in the middle will pay slightly more than on the old LLPA.

This LLPA is not popular, but we must work with it. Loan-level pricing adjustments have been in place for ages. I hope this explanation helps clear the mortgage pricing landscape. If you have any questions message me.

Address

San Antonio, TX

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm
Saturday 9am - 3pm

Telephone

+12105604859

Website

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