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Will The Mortgage Guy-NMLS 1841138, Knoxville, TN (2026)

09/04/2024

I just priced .5% better on an FHA loan than my local competitors without even trying. If you are looking to compare, we have been crushing it lately because we structure our pricing to be competitive!

We would love to give a second opinion to some of your clients that are going under contract and want to see options from Mortgage Direct. Every situation is unique but we have been noticeably lower in interest rate pricing compared to other mortgage companies lately.

Send me a dm for us to give your client a quote! We love helping people finance their homes!

Will The Mortgage Guy-NMLS 1841138
Mortgage Direct INC
Cell: 910-880-2468
Email: [email protected]

08/06/2024

Why going shopping to buy a home right now is advantageous?

1) It is a buyers market. You have leverage because demand is not as high as it was and sellers are more desperate to sell.

2) You have a higher chance for closing costs to be covered if you negotiate and that is instant savings out of your pocket. Average is 7-10k.

3) When rates do come down to create more demand in the market, you will be sitting in your home, sipping a cup of coffee, chilling, while everyone else is scrambling to purchase a home. All you get to do is call your favorite loan officer *wink wink* and say I want to lower my mortgage payment, rates are lower then when I bought. Hook me up Will The Mortgage Guy-NMLS 1841138. Whatcha got?!?

4) Do you like equity? This kind of market is where you end up with some for no reason but opportunity. The deals are in the quiet, not the chaos.

5) Things like a 2/1 buydown don't get financed in a sellers market. a 2/1 buydown temporarily lowers your rate and you sell or refinance before two years? You can apply the remaining funds the seller paid for the buydown to your principal amount..You win.

07/08/2024

Had my 1st Aug 17th incident this weekend. Not a fan so far. 4.5% seller concessions to pay all of the commission. Basically financed the commission by accepting the offer price. It feels wierd seeing it out in the open on paper. Realtors buckle up. It is going to be interesting. If you are a list agent primarily, you will have more leverage then ever before. It is kind of scary my POV because of the way everything is laid out now. Awareness is reality. And to be frank, most buyers were under the notion "they werent" paying their buyers agent.

I know most agents are required to lock in someone on a buyers rep agreement to show them property. If you work primarily off leads from Zillow, Realtor.com and the likes, it will be a place of contention for agents that would show prior to getting a buyers rep agreement.

I think it does save you time as a buyers agent because the client will commit prior to working with them. But there will be plenty of other avenues popping up to be compliant and get them through the buying process that are surface level and shiny object syndrome especially from the online lead companies.

Would love to have conversations more on what you are seeing in the field vs from my perspective to understand more what we are going into!

05/21/2024

Mortgage Misconceptions👇👇👇👇

FHA loans are for first time homebuyers.
-Not true and you can actually have up to two under certain circumstances.

USDA loans are 0% down
- false. They are 0% down payment. There are closing cost involved that are not always covered by the loan. Rolling in closing cost takes a specific situation with loan amount and appraised value/sales price. Not free.

Conventional loans don't care about the condition of the house.
-false. Safety damage and structural integrity issues will always be noted. Water intrusion, mold, foundation issues or malfunctioned roofs are the main issues I see called out. No lender wants to lend on collateral that is in jeopardy of degrading further.

I already used my VA loan. I want to buy again. Do I need to go conventional?
- Not always. There are multiple ways to get your entitlement back or you could have extra/bonus entitlement if you haven't used it all! You can sell the house with the VA loan or refinance it to different financing to restore your benefit. To check your entitlement, you can reach out to a loan officer (Hey!✊) and have your COE pulled to do the math on how much entitlement you may have left.

Education is key to buying a home. Have a question about buying? Need a preapproval today!?! I would love to help you.

Will The Mortgage Guy-NMLS 1841138

02/13/2024

MORTGAGE MARKET UPDATE: CPI UP above expected percentage. What does this mean for the mortgage market?

Rates are likely to go back up some, even higher then that have trended over the last week. It is not best to float your rate lock or play the market right now. This news will be slow to get out to the public for multiple reasons. Economy news controls the market and rate pricing right now.

Below is a chart of the 10 yr UST bond. It goes up, rates goes up. It goes down, rates go down.

My take: Be weary of optimism and wait for proof in the market. Fed can say they will drop rates on this date and that date. They won't do it unless they are confident.

Now is still a great time to buy if it fits your budget. When rates drop, you will be in a bidding war like you have never seen before. Buying with the lowest cost possible is the best strategy, as long as the payment fits your budget in my opinion.

Follow me for UP TO DATE mortgage news.

Will The Mortgage Guy-NMLS 1841138

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Knoxville, TN
37919

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