Home Loans or Refinancing Come Down To Experience and Knowing A Market

Home Loans or Refinancing Come Down To Experience and Knowing A Market

Real Estate

Most everybody would have bet against the housing market going through the roof during a pandemic when unemployment was at its height and then with all the social unrest and finally a change in the president. All of these together are enough to shake the stability of even the toughest foundations but out of that came policy that no one can be evicted by the banks and similar companies. Right away this meant that there was less inventory without any foreclosures being able to hit the market. Add to this the government stimulus that helped people to make more money when they were not working than many of them made while they working and then finally stimulus checks and ohvey you have a market for housing that was on the cusp of being an sellers market. The final tipping point was when the mortgage interest rates for new homes all over the USA went below 2%. Yes, 2% which is unheard of. This spawned housing prices that increased in many cases over 10%. The demand for new homes and that of resales was through the roof. 

What Does This Mean For Southern States Like Georgia?

In the heart of the south both mortgage brokers and also real estate were busier than ever but the gig became to fin inventory for the real estate agents. Everything that they were offering was selling at above asking price. Loans were being one at super low levels and at 45% ratios which means that people were getting the homes that they want. The mortgage brokers were so busy that most people knew that they were not getting a call back for several weeks if at all. Cash Out Refinances also went way up with people taking money out of their house to purchase own their other debt items since the rate was so low. 

Warehouse owners in Georgia were taking the loan cash out refi on their house to pay off their warehouses and inventory for their business since it was saving them literally thousands per month. But now that the big boom is working its way through and you are in a place to buy a house or refinance a house who should you call.  The answer is that the real estate agent that you work with often has partnerships set up with many different partners to help their customers along the way. But the reverse is also true. So the trick is to make sure and check out the reviews to see what other customers – mos preferable the most recent purchases are saying about their experience. In the mortgage industry 9 out 10 customers prefer to work with private or independent mortgage officers or brokers in their town. We believe that this is really sound advice. Dealing with somebody in a office in portland when you are buying a house in Monroe, Georgia is not the best idea for many different reasons. Having hands on experience in the market can help in a lot of different ways especially if the loan gets tight – tough to get a lender to buy into. This is where the best local experts can help! A Loganville mortgage company doing mortgages in Walton County, Monroe, Athens and surrounding areas has access to many different knowledge base options and has relationships from years or doing business. Having contacts that can help with many of the different situations that come up is important for more of the interesting or even down right tough cash outs refi’s or typically home buying loan even or those that might credit issues including bad credit.

Another advantage to Local Mortgage companies in Georgia if your home purchase or refi is in Georgia would be an access to many different wholesale lenders that are always offering really good deals with low rates to those that are trying to refi or purchase with a new loan. Also there are many different programs for new home buyers to where a bank may only have access to their only program. Independent mortgage lenders or local lenders might just be exactly what you are looking for versus many of the nationwide mortgage companies. 

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