FINALLY! Mortgage interest rates have rates have come down from recent highs and this is some good news y’all!

As expected, the Federal Reserve has kept interest rates unchanged, maintaining the Fed Funds rate between 5.25% and 5.50%. This marks the 8th consecutive meeting without a rate change and the 17th straight unanimous decision. The Fed's latest statement indicates a continued focus on both inflation and the job market. Inflation is slowly decreasing, and job gains have slowed, though unemployment remains low. This slight shift in emphasis has sparked hopes in bond markets for a possible rate cut in mid-September. In summary, the Fed is holding steady on rates while keeping a close watch on economic trends. #economy #inflation #federalreserve #mortgage #interestrates #mortgagerates

Having the right team makes a world of difference when you’re buying a home. It’s a whole different vibe when you have knowledgeable professionals guiding you through the process. A great team can provide support, answer your questions, and ensure everything runs smoothly from start to finish.

If you’ve been feeling like you missed the chance to buy a home, don't give up hope. Recent data shows that housing inventory is up in several key states, including Idaho, Florida, and Texas. These increases are bringing inventory levels back to what they were before the pandemic. With more homes available, those looking to buy have better chances of finding a property that suits their needs. Nationally, the number of active homes for sale in March 2024 rose by 24% compared to March 2023. Florida, in particular, saw a significant 57% increase in active listings year-over-year, especially in areas like Cape Coral and Punta Gorda, which were heavily affected by Hurricane Ian in 2022. This increase in inventory can signal a softening market, influenced by higher mortgage rates and the aftermath of the pandemic housing boom. Despite this, many regions, particularly in the Midwest and Northeast, still have tight inventory levels. Overall, while some areas are seeing inventory rise above pre-pandemic levels, most of the country remains below those levels, maintaining resilient home prices despite market fluctuations.

Dreaming of the moment when the perfect home becomes yours? Once your offer is accepted, the true path to homeownership unfolds. Here's a quick guide to navigate this exciting journey: Lock Your Rate & Sign Disclosures: This step secures your mortgage rate against market fluctuations. Document Update: Stay prompt in providing any documents your lender requests to keep things moving smoothly. Appraisal: A crucial step to ensure the home's value matches what you're paying. Underwriting: Your loan undergoes approval. More document requests? Totally normal. Closing: The final stretch! Your down payment and closing costs are due, you'll sign the official paperwork, and then... it's time to celebrate homeownership! Feeling a mix of excitement and nerves? Completely normal. Questions or need a bit of guidance? I’m here for you. Let’s make this journey together, step by step. You’re not alone in this! 🏠 Useful Resources 🏠 → https://www.rebeccarichardsonmortgage.com/resources 📱 Book a FREE 15-min call! 📱 → https://calendly.com/rebeccarichardson/15min 👀 POPULAR PLAYLISTS 👀 Choosing a Lender → https://bit.ly/33iGNo1 The Loan Process → https://bit.ly/33jkVJ3 Choosing a Mortgage Strategy → https://bit.ly/3uNSe2q Shopping Your Loan → https://bit.ly/3LuQp04 Homebuyer FAQs (Shorts) → https://bit.ly/3sAyvAj First Time Home Buyers → https://bit.ly/3gEbx61 Separation & Divorce → https://bit.ly/3Luv6Md 🏡 MUST WATCH Videos 🏡 Starting the Loan Process → https://youtu.be/aiPIcCSQdIU What Documents Do You Need? → https://youtu.be/lb6Tx_XNVYs How to Make a Strong Offer → https://youtu.be/zceO2RiFKkc Preapproved for a Payment, Not a Price → https://youtu.be/SzZ77D9Px4g How Mortgage Rates Work → https://youtu.be/MqfhHOJ5Ti0 💥 Follow me on Social Media 💥 → Tiktok: https://bit.ly/34VUTMB → Instagram: https://bit.ly/3rLy5rS → LinkedIn: https://bit.ly/3oJLuyq _________________________________ As The Mortgage Mentor, I'm here to help translate industry jargon into everyday language so you can confidently choose a mortgage strategy that saves you time and money. Rebecca Richardson, AMP Mortgage Loan Officer team@themortgagementor.co NMLS #91445

Here’s one of my favorite homebuying strategies that most people don’t know about. Did you know it’s possible to buy a home without paying a down payment or closing costs? One way to do this is by getting a gift of equity. What’s a gift of equity? It's when a family member sells you their home for less than its market value. The difference between the sale price and the market value is the "gift." For example, if your parents sell you a home worth $300,000 and you get a mortgage for $250,000, they can gift you $50,000 to cover your down payment and closing costs! To make it work, you’ll need a gift that covers the minimum down payment (usually less than 5% of the sales price) plus closing costs and a gift letter from the family member that owns the home. From there you’ll follow the usual steps of buying a home, like applying for a mortgage, getting an appraisal and providing necessary financial documents like paystubs and bank statements. If you're curious about how this could work for you, let’s chat! I’m here to help you figure out what plan works for you (and your family) 🏠 Useful Resources 🏠 → https://www.rebeccarichardsonmortgage.com/resources 📱 Book a FREE 15-min call! 📱 → https://calendly.com/rebeccarichardson/15min 👀 POPULAR PLAYLISTS 👀 Choosing a Lender → https://bit.ly/33iGNo1 The Loan Process → https://bit.ly/33jkVJ3 Choosing a Mortgage Strategy → https://bit.ly/3uNSe2q Shopping Your Loan → https://bit.ly/3LuQp04 Homebuyer FAQs (Shorts) → https://bit.ly/3sAyvAj First Time Home Buyers → https://bit.ly/3gEbx61 Separation & Divorce → https://bit.ly/3Luv6Md 🏡 MUST WATCH Videos 🏡 Starting the Loan Process → https://youtu.be/aiPIcCSQdIU What Documents Do You Need? → https://youtu.be/lb6Tx_XNVYs How to Make a Strong Offer → https://youtu.be/zceO2RiFKkc Preapproved for a Payment, Not a Price → https://youtu.be/SzZ77D9Px4g How Mortgage Rates Work → https://youtu.be/MqfhHOJ5Ti0 💥 Follow me on Social Media 💥 → Tiktok: https://bit.ly/34VUTMB → Instagram: https://bit.ly/3rLy5rS → LinkedIn: https://bit.ly/3oJLuyq _________________________________ As The Mortgage Mentor, I'm here to help translate industry jargon into everyday language so you can confidently choose a mortgage strategy that saves you time and money. Rebecca Richardson, AMP Mortgage Loan Officer team@themortgagementor.co NMLS #91445

Considering a new construction home? Builders often suggest using their preferred lender, and sometimes, it's a great deal. But did you know the cost of the mortgage might already be included in the home's price? The lender is part of the builder’s overall business strategy & profit, and while convenient, it might not always offer the best terms for you. Beware of builder credits too; they could mean a higher interest rate for you. My advice? Compare options before locking your rate and finalizing your lender choice 30-45 days before closing. Talk to one or two independent lenders to ensure you're not just getting a good deal, but also top-notch service. Ensuring you're informed can lead to both savings and satisfaction in your new home journey. 🏠 Useful Resources 🏠 → https://www.rebeccarichardsonmortgage.com/resources 📱 Book a FREE 15-min call! 📱 → https://calendly.com/rebeccarichardson/15min 👀 POPULAR PLAYLISTS 👀 Choosing a Lender → https://bit.ly/33iGNo1 The Loan Process → https://bit.ly/33jkVJ3 Choosing a Mortgage Strategy → https://bit.ly/3uNSe2q Shopping Your Loan → https://bit.ly/3LuQp04 Homebuyer FAQs (Shorts) → https://bit.ly/3sAyvAj First Time Home Buyers → https://bit.ly/3gEbx61 Separation & Divorce → https://bit.ly/3Luv6Md 🏡 MUST WATCH Videos 🏡 Starting the Loan Process → https://youtu.be/aiPIcCSQdIU What Documents Do You Need? → https://youtu.be/lb6Tx_XNVYs How to Make a Strong Offer → https://youtu.be/zceO2RiFKkc Preapproved for a Payment, Not a Price → https://youtu.be/SzZ77D9Px4g How Mortgage Rates Work → https://youtu.be/MqfhHOJ5Ti0 💥 Follow me on Social Media 💥 → Tiktok: https://bit.ly/34VUTMB → Instagram: https://bit.ly/3rLy5rS → LinkedIn: https://bit.ly/3oJLuyq _________________________________ As The Mortgage Mentor, I'm here to help translate industry jargon into everyday language so you can confidently choose a mortgage strategy that saves you time and money. Rebecca Richardson, AMP Mortgage Loan Officer team@themortgagementor.co NMLS #91445

Getting ready to buy a home? Keeping your finances in tip-top shape needs to be a priority. Here’s how to make sure you’re on the right track: Avoid New Debt: Taking on new loans or credit cards can negatively affect your loan approval. Steady Employment: Lenders like to see consistency. Consider job changes carefully. Monitor Your Savings: Be prepared to discuss any significant deposits in your bank accounts. Staying financially stable isn't just good practice—it's essential for navigating the home buying process without hiccups. Have questions about how to prep financially for a home purchase? Don’t hesitate to reach out. I’m here to help guide you through! 🏠 Useful Resources 🏠 → https://www.rebeccarichardsonmortgage.com/resources 📱 Book a FREE 15-min call! 📱 → https://calendly.com/rebeccarichardson/15min 👀 POPULAR PLAYLISTS 👀 Choosing a Lender → https://bit.ly/33iGNo1 The Loan Process → https://bit.ly/33jkVJ3 Choosing a Mortgage Strategy → https://bit.ly/3uNSe2q Shopping Your Loan → https://bit.ly/3LuQp04 Homebuyer FAQs (Shorts) → https://bit.ly/3sAyvAj First Time Home Buyers → https://bit.ly/3gEbx61 Separation & Divorce → https://bit.ly/3Luv6Md 🏡 MUST WATCH Videos 🏡 Starting the Loan Process → https://youtu.be/aiPIcCSQdIU What Documents Do You Need? → https://youtu.be/lb6Tx_XNVYs How to Make a Strong Offer → https://youtu.be/zceO2RiFKkc Preapproved for a Payment, Not a Price → https://youtu.be/SzZ77D9Px4g How Mortgage Rates Work → https://youtu.be/MqfhHOJ5Ti0 💥 Follow me on Social Media 💥 → Tiktok: https://bit.ly/34VUTMB → Instagram: https://bit.ly/3rLy5rS → LinkedIn: https://bit.ly/3oJLuyq _________________________________ As The Mortgage Mentor, I'm here to help translate industry jargon into everyday language so you can confidently choose a mortgage strategy that saves you time and money. Rebecca Richardson, AMP Mortgage Loan Officer team@themortgagementor.co NMLS #91445

Let me guess - you dream of buying your own home but find the process overwhelming. You’re not alone, and I’m here to help. I'm Rebecca, aka the Mortgage Mentor, and in this video, I will guide you through every step of the home-buying journey. Whether you’re a first-time buyer or looking to upgrade, I've got some invaluable tips to help you navigate this exciting path. WHAT YOU'LL LEARN 1. Getting Your Finances in OrdER: Discover how to check your credit score, build your savings for a down payment and closing costs, and set a realistic budget that includes mortgage payments, property taxes, and home insurance. 2. Understanding Mortgage: Learn the differences between fixed-rate and adjustable-rate mortgages, and explore various mortgage options like conventional, FHA, and VA loans to find the best fit for you. 3. Getting a Mortgage: Understand the steps involved in choosing a lender, gathering necessary documents, and securing homeowners insurance to get your financing finalized. 4. Closing the Deal: Prepare for the final steps of buying a home, including reviewing documents, understanding closing costs, and performing a final walkthrough to ensure everything is in order. KEY FACTS - A higher credit score can significantly lower your mortgage interest rates. - Experts recommend having at least 3-6 months of living expenses saved before buying a home. - Fixed-rate mortgages offer stability with the same interest rate and monthly payment over the life of the loan. - Closing costs typically range from 2% to 5% of the home’s purchase price. Join the Conversation: What are you doing to prepare to buy a home? Have tips from your experience? Share in the comments below! 🏠 Useful Resources 🏠 → https://www.rebeccarichardsonmortgage.com/resources 📱 Book a FREE 15-min call! 📱 → https://calendly.com/rebeccarichardson/15min 👀 POPULAR PLAYLISTS 👀 Choosing a Lender → https://bit.ly/33iGNo1 The Loan Process → https://bit.ly/33jkVJ3 Choosing a Mortgage Strategy → https://bit.ly/3uNSe2q Shopping Your Loan → https://bit.ly/3LuQp04 Homebuyer FAQs (Shorts) → https://bit.ly/3sAyvAj First Time Home Buyers → https://bit.ly/3gEbx61 Separation & Divorce → https://bit.ly/3Luv6Md 🏡 MUST WATCH Videos 🏡 Starting the Loan Process → https://youtu.be/aiPIcCSQdIU What Documents Do You Need? → https://youtu.be/lb6Tx_XNVYs How to Make a Strong Offer → https://youtu.be/zceO2RiFKkc Preapproved for a Payment, Not a Price → https://youtu.be/SzZ77D9Px4g How Mortgage Rates Work → https://youtu.be/MqfhHOJ5Ti0 💥 Follow me on Social Media 💥 → Tiktok: https://bit.ly/34VUTMB → Instagram: https://bit.ly/3rLy5rS → LinkedIn: https://bit.ly/3oJLuyq _________________________________ As The Mortgage Mentor, I'm here to help translate industry jargon into everyday language so you can confidently choose a mortgage strategy that saves you time and money. Rebecca Richardson, AMP Mortgage Loan Officer team@themortgagementor.co NMLS #91445