The Mortgage Minute, 8.6.2024

Greg Williams Weekly Mortgage Report

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www.dhirubhai.net/in/mortgagebankergreg

What are clients saying about us?

"Very responsive."—Sajal P, closed July 2024

First Horizon Networking Night coming up August 22 at Divan in Midtown Atlanta

We’re looking forward to hosting a Real Estate summit in Midtown later this month (August 22 at Diwan Restaurant in Midtown). ??

Space is limited to please make sure to RSVP. We're looking forward to hosting real estate professionals, investors, and first time home buyers who are interested in learning more about our unique down payment assistance options.

Mortgage Tip:

?When documenting the assets needed for a down payment or necessary reserves, it's important to send actual bank statements and not online prinouts. Online printouts typically leave out important things like, oh, the name of the account holder, the account number, and sometimes even the name of the bank or financial institution. Most banks now have online PDFs of your monthly statements available and these are the best way to document the assets.? First Horizon also allows clients to connect their bank accounts directly to our system, which eliminates the need to obtain monthly statements and allows us to update balances as needed.

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Mortgage Rates continue downward trend, 30 year fixed rates dip below 6.4%

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.? New conventional grants have been announced by Fannie Mae/Freddie Mac and can be combined with our own “in house” grant program.? Realtors, if you’re interested in placing a sign at your listings, please contact us for delivery ?? .

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 6.125% 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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