![]() Jumbo loans have restrictive terms that don’t really work well for first-time homebuyers. What they really need is an increase in the maximum conforming loan amount. Sadly, there just aren’t enough home jumbo loan options available for these first-time homebuyers. We also know from experience that most first-time homebuyers need help with a down payment, and loan options with less than 20 percent down. Most young professionals that are first-time homebuyers want to live close to the city, and they’re looking at condos and townhomes with average sale prices of $700,000 to $800,000. In an area like Houston where there is a range of properties and submarkets, housing prices can reach several million dollars. Prior to applying for a loan and actively in the buying process, buyers should save for a down payment and understand what they can afford. TR: Homebuyers should be aware of their credit scores and how that impacts approval/interest rates. HA: What are the current barriers to finance that homebuyers should be aware of before applying for a loan? The demand for houses has remained good although in 2016 we’ve seen some areas in the higher price range that have slowed. While in 2016, oil prices have been lower, but home prices have remained fairly steady. Over the past four years, we’ve seen price appreciation in Houston due to high oil prices. However, they should know they have many options available to them and many great resources to help them through the process. Market prices are really dictating the market.įor many young homebuyers, the rising home prices cause concern about their ability to afford a home. Houston is certainly an affordable city, however, there are just really specific areas of the city that aren’t. You can come here and buy an average-priced home, but it might be miles and miles away from the city or areas where you really want to be. ![]() Houston is not one home market, but really is comprised of several different submarkets. Tom Rhodes (TR): It’s a generally good sign for the economy – the result of supply/demand and a sign that the Houston market is still booming. How are these prices affecting Houston’s home market? Houston Agent (HA): Average prices in Houston are relatively affordable, but there are areas of the city where homes are selling for more than $500,000, and other places where $1-million homes are common. MetaSource is an equal opportunity employer.Tom Rhodes is the chief executive of Austin-based Sente Mortgage, and he took time this week to talk lending, including what agents need to know about best helping their clients. Must have a minimum of 2+ years mortgage processing experienceĮmployment is contingent upon completing and passing a background check and drug test. Knowledge of guidelines for FNMA, FHLMC, FHA, VA, and USDAĪbility to work both in a team-oriented environment as well as an individuallyĭetail-oriented, with strong organizational, auditing, and analytical skillsĭemonstrate ability to independently problem-solve with minimal supervision Possess exemplary customer service with strong written and verbal communication skills.Maintains current knowledge regarding underwriting, processes, and regulatory and agency guidelines as they relate to the quality control audit function. Performs a thorough review of the loan file, identifying any discrepancies in the loan documentation, and accurately flags discrepancies in a client-ready format.Īnalyzes all income types including self-employed, personal, and business tax returns.Īccurately completes audit checklists by answering all questions completely. Note: This job is classified as a 1099 Independent Contractor This requires reviewing multiple files containing loan documents (which contain numerous loan details) while working with a variety of lenders to ensure a loan is fully prepared for purchase by the end investor. This mortgage auditing position requires the ability to provide a detailed review of loans to validate the accuracy the provided information to ensure compliance with agency or investor guidelines.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |