Sean Matthews, Mortgage Loan Originator

Sean Matthews, Mortgage Loan Originator Loan Factory | NMLS #320841
www.nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/320841
Sean Matthews| NMLS #1995804

I work at the Loan Factory | NMLS #320841
www.nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/320841
Sean Matthews | NMLS #1995804

Winston Churchill said: “The longer you can look back, the farther you can look forward.”It looks like mortgage rates wi...
11/01/2022

Winston Churchill said: “The longer you can look back, the farther you can look forward.”
It looks like mortgage rates will be going up again however we all know that rates go UP and DOWN historically they have been between 2% and 17% (hopefully not that high this cycle).
Look back even further and history tells us that property prices always trend UP whilst there are dips (and some big ones) over time the value of real estate will increase.
Look back at historical home prices to see that the sooner you become homeowner the sooner you start building YOUR home equity.
Interest rates may go up more but will also go back down and when they do go down, you can refinance that home and maybe with that extra equity you can get an even better deal.
As a federally licensed mortgage broker I can help you get started!
Call/text or email me 309 282 6000

09/29/2022

"Marry the house🏡; date the rate📈."
What does this mean?
It means buy the house you want. But committing to the house doesn't mean you have to commit to the financing available now forever. Smart homeowners always look for a better financing opportunity and make the move when the time is right. You can always change your financing to more favorable terms later, should better rates and products become available. And if rates only get worse, then you'll be glad you married the house when you did.😉
Borrowed from a colleague!
Sean Matthews NMLS #1995804

We all hear on the news how mortgage rates are high, but what does that mean? As you can see from the chart rates go up...
09/08/2022

We all hear on the news how mortgage rates are high, but what does that mean? As you can see from the chart rates go up and down all the time. And they have gone up very quickly over the last year or so. The last time they went up this quickly was way back in the 1980’s (yes, I’m old enough to remember that).
No one really knows if they will keep going higher or drop back down but here is what really matters.
For an increase of interest rate of 1% on a $100,000 loan you would see an increase monthly cost of around $60 to $70 per month.
Say you are looking to buy a new house but wondering if now is a good time, let’s say you need a $100,000 mortgage :
At todays rate of 4.75% your monthly principle and interest payment would be $522
If rates go up a further 1% to 5.75% your monthly principal and interest payment would be $584
If you have any questions I’m always happy to go over your specific numbers just give me a call or text at 309 282 6000

For my clients looking for their next home, here are this weekends open houses in our area:
09/02/2022

For my clients looking for their next home, here are this weekends open houses in our area:

You don’t need to put 20% down to buy a home. The best part? You can still expect competitive mortgage insurance rates. ...
09/02/2022

You don’t need to put 20% down to buy a home. The best part? You can still expect competitive mortgage insurance rates. Call or text me at 309 282 6000

08/30/2022

Is it a good time to buy a home #2. Mortgage rates are still low compared with historical highs. Also, bear in mind that if you buy now and rates go up further, you still only pay todays rate. If rates go back down to the super low rates of 2020 guess what, you can refinance and get that lower rate. And by the way, the chances are that by then, your house will be worth more so you will likely qualify for a better deal. The big question you need to ask is : How does the cost of rent compare to the cost of a mortgage over time?While you pay off your mortgage you are gaining equity every month, and after your last payment, the home is all yours!

So, is now a good time to buy a house?Well its not for everyone but for some people the answer is definitely YES.Over th...
08/30/2022

So, is now a good time to buy a house?

Well its not for everyone but for some people the answer is definitely YES.

Over the next few posts I'll go over some of the questions you can ask yourself to see where you stand.

#1 Can I even afford a house? Stop here and get advice. Knowing how much house you can afford is best left to your friendly licensed mortgage professional (like me). We take into account what you earn, what you pay in rent, what you have saved and just as importantly what mortgage deals are available; such as down payment assistance, low down payment loans and deals for veterans and low income areas.

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Normal, IL
61761

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