VL6 - The VA Lady

VL6 - The VA Lady

V.A. LOAN LADY

VOL. 6 | JULY 2022

CONTENTS

17 BUILDING A CULTURE OF CARING

4 LEARN ABOUT WHAT I DO

21 MOVEMENT MORTGAGE OUTREACH

2 MEET DENISE 3 MOVEMENT MORTGAGE 5 WAYS TO SAVE BIG ON YOUR MORTGAGE 9 RECESSION, INFLATION, & NORMALIZATION 11 WHAT HOMEBUYERS SHOULD KNOW ABOUT TITLE INSURANCE 14 THINGS TO AVOID AFTER APPLYING FOR A MORTGAGE 15 MOVEMENT MILITARY 19 ARE YOU READY TO BUY A HOME? 24 STATE LICENSING POLL 25 MID-SUMMER HOME MAINTENANCE CHECKLIST 27 SUMMER FUN THINGS TO DO 29 FEATURE NON-PROFIT

MEET DENISE In 2017, I was an Air Force spouse of 14 years, trying to make a few pennies crocheting and selling my wares. We were purchasing our second home near Ft. Gordon, GA, and our Loan Officer happened to be a fan of the same football team as my husband and I. We became friends, and when he decided to open up his own Mortgage branch, he pitched the idea of me becoming a loan officer. I had no experience originating loans but had experience in sales. I also had a passion for helping my own military community. From that random meeting in 2017, The VA Loan Lady was born. My passion is to help borrowers, especially those in the military community, buy homes with the knowledge of knowing what is actually happening during the transaction. I pride myself on communication and will explain something 100 times if it helps the borrower feel more comfortable during the process I am highly experienced in VA loans, as well as educating my borrowers. I have videos that help break down the process of obtaining a home loan and what to expect. I’m known for excellent communication and my empathy towards my borrowers. I’m proud that I can say my passion for helping others, especially my own military community.

Movement was created to be different. Founded in 2008, amidst one of the biggest financial meltdowns in American history, Movement set forth on a mission to create a Movement of Change in our industry, in corporate cultures and in communities. First, we pioneered a unique approach to home loans centered around helping homebuyers, quickly and easily. Then, we created a model so that our profit creates a long-term positive impact in communities both close to home and around the globe. For our borrowers, we commit to building relationships based on communication. We get it home loans can be confusing and stressful – But they don’t have to be. And we work to make sure they aren’t. It all comes back to our mission, to love and value people in everything we do.

LEARN ABOUT WHAT I DO

Whether you’re buying, selling, refinancing, or building your dream home, you have a lot riding on your Loan Officer. Since market conditions and mortgage programs change frequently, you need to make sure you’re dealing with a top professional who is able to give you quick and accurate financial advice. As a seasoned loan officer I have the knowledge and experience you need to explore the many financing options available. Ensuring that you make the right choice for you and your family is my ultimate goal, and I am committed to providing my customers with mortgage services that exceed their expectations. I hope you’ll browse my website, check out the different loan programs Movement Mortgage has available, use my decision-making tools and calculators, and use our secure online application to get started. After you’ve applied, I’ll call you to discuss the details of your loan, or you may choose to set up an appointment with me using my online form. As always, you may contact me anytime by phone, fax, or email for personalized service and professional advice. I look forward to working with you.

Loan interest can add up over time — even with low-interest rates. The good news is that there are some super simple yet smart ways to sneakily cut down on how much you pay in interest and save yourself thousands of dollars in the long run. And why WOULDN’T you want to be a smart, sneaky money saver?

#mortgagetips #homebuyertips #movementmortgage

“The house you looked at today and wanted to think about until tomorrow may be the same house someone looked at yesterday and will buy today.”

It looks like the mortgage industry might finally be on a path to normalization. The latest Freddie Mac 30-year fixed-rate mortgage average came in at 5.3%—that’s a half percent lower over the last two weeks. That drop did little to spur more mortgage activity, which might actually be a good thing. Mortgage demand has slowed considerably dropping nearly 5.5% week-over-week according to the Mortgage Bankers Association weekly survey. Home purchase applications were also down 4% for the week and 17% year-over-year. Keep in mind we are also comparing numbers this year to 2021’s record highs across the board, so the drops will feel more precipitous when they’re actually putting us more in line with what a ‘normal’ housing market would feel like. Seemingly insatiable demand is what started driving home prices rapidly higher during the pandemic as many families fled apartments in larger cities for homes in the suburbs. That created untenable bidding wars and drove home prices to extremely high levels. That, plus millions of homeowners refinancing their homes to lower rates and not selling, decimated inventory and only put stronger upward pressure on home prices. Our current climate of elevated home prices and higher interest rates has started to quell the demand which is allowing inventory to start coming back toward what’s considered healthy. The latest report from the National Association of Realtors showed existing home inventory sitting at 2.6 months in May, up from 2.2 months in April. Typically 6 months supply is considered a balanced market but this month-to- month increase is a big deal.

The caveat is that this drop in demand and interest rates trending lower are being caused by fears of an economic recession. As Freddie Mac’s economists note, “Over the last two weeks, the 30-year fixed-rate mortgage dropped by half a percent, as concerns about a potential recession continue to rise. While the drop provides minor relief to buyers, the housing market will continue to normalize if home price growth materially slows due to the combination of low housing affordability and an expected economic slowdown.” Last week we discussed the yield curve inversion and how flat the curve was at the end of June. Well in the first week of July, the 10- and 2-year Treasury note yields inverted and remained inverted for most of the week. That is a key indicator of a coming recession. The Federal Open Market Committee (FOMC) members have also made it clear, along with Federal Reserve Chairman Jerome Powell, that they are willing to sacrifice economic growth in order to control rampant inflation. It’s expected that the FOMC will vote to raise the federal funds rate at its July meeting by another 50 to 75 basis points. Minutes from their June meeting show that policymakers “recognized the possibility that an even more restrictive stance could be appropriate if elevated inflation pressures were to persist.” Powell has also said previously that the employment situation might also suffer as the Fed restricts monetary policy to control inflation. The June jobs report is not reflecting that quite yet as 372,000 jobs were added, according to the Labor Department. Economists had expected an increase of 250,000. The unemployment rate was unchanged at 3.6%. What’s important to remember about the jobs report is that the >Page i Page ii Page iii Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22 Page 23 Page 24 Page 25 Page 26 Page 27 Page 28 Page 29 Page 30 Page 31

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