The Mortgage Minute, 1/17/24

Greg Williams Weekly Mortgage Report

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www.dhirubhai.net/in/mortgagebankergreg

What are clients saying about us?

"Greg and his team always was available when I had questions needed to be answered, they went above and beyond. Greg even took time on his own vacation to make sure I had the best experience to close for my house, I will definitely recommend him again to my friends and family."—Edwin B

Mortgage Tip:

Are you self-employed and looking to purchase a home in 2024?? Now is the perfect time to schedule a call with your CPA and a mortgage professional like myself to make sure you declare enough income to qualify for your desired pricing point.? Self-employment taxes are oftentimes more art than science.? Let me know how I can help you or your clients across the Southeast and in many other states.

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2023 Recap

Rapidly rising mortgage rates posed significant challenges in 2023, as rates peaked in the low 8s in November.? Fortunately we’ve seen a bit of a rally in the mortgage backed security world and the outlook for interest rates/home affordability in 2024 is much brighter.

Recapping 2023 numbers, we assisted 66 families, with 64 closed purchase loans for more than $30M in overall volume.? We were very active in the CRA sphere, securing more than $141,000 in grant funds for 22 families, many of them first time home buyers.

We hosted several events during the year, including two socials with the Georgia Association of Physician Assistants, quarterly meetings for NAIFA, and also presented to several teams of realtors.

Our new down payment assistance grants for 2024 are now available and we’ve already reserved our first client’s funds!? We’ll have $8000 for Homebuyer/Diversity Grant clients and $9000 for eligible First Responders, including Teachers and other school department staffers!? We’ll be sending out more info on this regarding qualifications and geographic eligibility.

Mortgage Rates settle in below 7%

Sample social media post:

"Teacher friends, one of my favorite local lenders is offering $9k grants to eligible educators and other employees of the school system! You can use this for down payment and closing costs. I'd be happy to get your home search process going today and connect you with the lending team!"

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You can use our unique products and ENHANCED grants to market to market your listings.? If you’ve got listings in low or moderate income census tracts, most potential buyers would be eligible for at least $8k in grant funds which can be used to pay closing costs.? First Responders, including teachers and other employees in the education system can obtain a $9k grant.? Our Home Start program works in conjunction with the grants and offers up to 100% financing with no PMI!? We’re happy to help determine the census tract for your listing, just give us a call and we’ll walk you through the process ??

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We’re always looking for opportunities to engage with our communities, let us know if we can sponsor your group for a future event.??

Let’s sell some homes!

Have a great week!?

Greg Williams

AVP/Senior Mortgage Banker

404-457-4143 cell |?

2987 Clairmont Road, Ste 150

Atlanta, GA 30329

NMLS# 151412

https://www.firsthorizon.com/mortgage/greg-williams

Equal Housing Lender

We do Business in Accordance with Federal Fair Lending Laws

UNDER THE FEDERAL FAIR HOUSING ACT, IT IS ILLEGAL, ON THE BASIS OF RACE, COLOR, NATIONAL ORIGIN, RELIGION, SEX, HANDICAP, OR FAMILIAL STATUS (HAVING CHILDREN UNDER THE AGE OF 18), TO:

Deny a loan for the purpose of purchasing, constructing, improving, repairing, or maintaining a dwelling, or to deny any loan secured by a dwelling; or

Discriminate in fixing the amount, interest rate, duration, application procedures, or other terms or conditions of such a loan, or in appraising property.