Putting Your Clients First: How DRMC Navigates Rate Hikes and Empowers Borrowers

Today, the Federal Reserve announced it is raising its key interest rate by 0.25%, continuing its attempt to cool inflation. The increase brings the benchmark funds rate to a range of 4.75% to 5%.

Fed Chair Jerome Powell stated that while they debated a pause in rate hikes due in part to the recent stress in the banking sector, the final consensus for a hike came from inflation and labor market data coming in stronger than expected.

As you will see in the coming days, much of the conversation and coverage surrounding the Federal Reserve and its attempt to cool inflation by raising interest rates has centered around its macroeconomic implications for the global economy.

While understanding the ripple effects of rate increases is essential, at Diamond Residential Mortgage Corporation (DRMC), we prefer to focus on what truly matters: how these changes impact your clients and their homeownership goals.

As your trusted mortgage partner, we're here to provide valuable insights and personalized solutions that empower borrowers in an ever-changing financial landscape.

So, what does a rate hike mean for your clients?

As you know, when interest rates rise, the borrowing cost goes up, potentially making it more difficult for certain clients to qualify for a mortgage or afford higher monthly payments. Rate increases can also lead to decreased demand for homes and potentially lower prices in the real estate market.

As a result, your clients may need to adjust their expectations and budget accordingly. But fear not because we at DRMC offer many options to support borrowers during these times.

Here are a few ways we help clients navigate fluctuating rates:?

1. Non-QM Programs: Traditional loans may not be the right fit for everyone, especially in the current environment. Our Non-Qualified Mortgage (Non-QM) programs cater to borrowers with unique financial situations, providing them with flexible and customized lending solutions.
2. Buydowns: A buydown can be a valuable option for clients who may be affected by higher rates. By paying a lump sum upfront, borrowers can secure a lower interest rate and enjoy reduced monthly payments over the loan term. Our Loan Officers can help assess whether this strategy suits your clients' needs.
3. Expert Advice: As seasoned professionals, our Loan Officers are well-equipped to guide borrowers through the complexities of today's market. By staying informed about the latest trends and leveraging our extensive industry knowledge, we do our best to ensure clients make the best decisions for their financial future.

At DRMC, we believe that every borrower is unique and deserves personalized attention. Our commitment to putting clients first ensures they are seen, heard, and valued - not just as numbers on a spreadsheet or pieces of a global economic puzzle.

By offering tailored solutions and unwavering support, we empower our business partners to serve their customers better and contribute to the realization of their homeownership dreams.

Together, we get it done.

About Diamond Residential Mortgage Corporation:

Diamond Residential Mortgage Corporation is a mortgage lender with corporate headquarters in Lake Forest, Illinois, licensed to originate and service mortgage loans in 21 states. DRMC is approved to originate FHA, VA, USDA, and conventional mortgage loans and several mortgage loan products offered by private investors. It is an approved Freddie Mac and Fannie Mae Seller/Servicer and Ginnie Mae Issuer. Founded in 2009 by Paul Diamond, DRMC has since expanded to over 30 branch locations across the United States. DRMC is not affiliated with or acting on behalf of or at the direction of any governmental body or agency. DRMC is an Equal Housing Opportunity lender, NMLS #186805, NMLS Consumer Access.

For more information, visit https://diamondresidential.com/.