The Mortgage Minute, 7.26.24

Greg Williams Weekly Mortgage Report

Connect with me on LinkedIn

www.dhirubhai.net/in/mortgagebankergreg

What are clients saying about us?

“Greg was fantastic to work with! He was extremely helpful and responsive throughout the entire process, which was especially great considering we were first time home buyers. We will not hesitate to refer Greg to folks in our network, and look forward to working with him again in the future!."—Lauren and Logan, closed July 2024

First Horizon Networking Night in Peachtree Corners/Norcross!? #FHNN

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We hosted a networking event with our Peachtree Corners branch last week, connecting clients, realtors, and our awesome bankers in an effort to create more retail relationships. Thank you to our PC team for the collaboratio and help with promoting our unique CRA and down payment assistance option!? We’re looking forward to hosting a Realtor summit in Midtown next month (August 22, details to follow).

Mortgage tip:

Q.? Are FHA loans only for First Time Home Buyers??

A.? No, anyone can apply for an FHA mortgage for the purchase of a primary residence.? Many first time home buyers opt for the FHA program because of its low down payment requirement, which currently stands at 3.5%.? Generally speaking, if you have a credit score in excess of 720 and 5% down, you should go for conventional financing.? If not, FHA is an excellent option and offers competitive rates down to a 620 credit score.? There are many other features that distinguish FHA loans from other mortgage products, please feel free to contact me with any questions or to get preapproved for your home purchase.

?Average Mortgage Rates continue improvement, rates stabilize below 7%

First Horizon offers one of the most expansive down payment assistance programs in the industry and we’re working hard to spread the news across our communities.nbsp; New conventional grants have been announced by Fannie Mae/Freddie Mac and can be combined with our own “in house” grant program.nbsp; Realtors, if you’re interested in placing a sign at your listings, please contact us for delivery ?? .

Listing of the Week!

621 Kennesaw Ave NE, Atlanta, GA 30308 | MLS# 7377326 | Redfin 621 Kennesaw Ave NE, Atlanta, GA 30308 Listed bynbsp;Ginnie Temple?Dorsey Alston Realtors ?912-571-1388 cell ?[email protected]

Pro tip, our expanded Home Possible program offers below market interest rates for eligible clients.? Rates for purchase loans are typically lower than refinance rates and lower than the average 30 year fixed rate.? We locked in a First Time Home Buyer client at 6.5% on a 30 year fixed conventional mortgage this week for no points and combined an $8000 grant from First Horizon’s own funding vehicle.? The grant can be used for down payment/closing costs. (Grant amounts can vary based on buyer’s scenario, our minimum grant is $8000)

Sample Social Media Post for Realtors

"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!"

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 ??

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.

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