Buy a New Home

Here Are Three Reasons That It’s a Smart Time to Buy a Home

March 5, 2021 by Staff Reporter

The mortgage industry has seen some of the lowest rates in history in 2021 and 2020. Usually, springtime means that busy season has officially begun for the home loan business. This year is no exception. To keep you informed, here are some tips that further explain why it is a great time to buy or refinance. This list is a combination of industry information and new information directly from us.

Rates are trending up, but they are still low

From various news reports from the last two weeks, reports say rates are trending up. According to CNBC, there has been a stall in the demand for mortgage applications. The Mortgage Bankers Association said it rose 0.5%, which barely an increase. The national mortgage rate however is now hovering around in the threes. In February, rates were in the twos. Rates are slowly inching up. If you were on the fence about if you should buy a home right now, one thing to think about is how low rates still are. However, no one knows how long these rates will be around for.

New currency is being accepted

The mortgage industry is making new leaps and bounds every day. This is not only due to the fact that the pandemic has forced many industries to get creative and find new ways to do things, but because organizations stay innovative to keep charging ahead. A hot button topic is cryptocurrency. People are finding ways to use digital currencies in everyday life, including the mortgage process. Our organization believes in innovation. Some exciting news we shared recently includes that we will now accept bitcoin as a form of down payment.

Inventory is shrinking, but still available

One in five potential homebuyers have spent more than a year looking for a home, according to mortgage industry experts. The National Association of Realtors said housing inventory fell to a record-low of 1.04 million units, at the end of January. However, sales in existing homes has steadily risen for the past two months. Inventory is waning due to increased sales, however there are still homes on the market. It is best to act now before the home you want is gone.

There are different loan option available to you. Whether you are looking for a conventional mortgage, an FHA loan or to refinance, we’ve got you covered. As a direct lender, we have a streamlined beginning to complete the mortgage process in house.

I hope you took some important bits of information away from this article. Making sure potential homebuyers are confident and prepared for the mortgage process is important. You should go into the process prepared and ready. There are always news topics and ideas to discuss about the mortgage business. Stayed tuned for more information that you need to know before you buy a home.

Huge U.S. Mortgage Lender Now Accepting Cryptocurrency for Down Payments

March 4, 2021 by Staff Reporter

The Home Loan Expert, LLC announced its commitment to digital currencies as it begins making substantial purchases of Bitcoin. With this investment, the company continues its exploration to be the first to regularly accept bitcoin as a verified asset and as a method for down payments on homes.

The growth of digital currency for commercial use around the world, Coinbase Global’s announcement to become a publicly traded company, along with other behind-the-scenes moves, persuaded Ryan Kelley, CEO, and Founder of The Home Loan Expert, to explore the possibility. His goal is that of bringing this alternative to expand access to mortgage loans through digital channels.

“We are embarking on this road in recognition of the shift in commercialization through those technologies and the development to something that confidently looks to be real business as mainstream adoption gets closer. Finding a way for borrowers to use cryptocurrency as a down payment just seems like the right thing to do. It falls in line with our commitment of always improving our client’s experience.” Kelley said.

A majority of Americans exploring and accepting cryptocurrencies as a modern staple are millennials and Generation Z. These groups make up the largest market for potential homeownership in the country. And as other industries innovate in the space, The Home Loan Expert LLC aims to be that first-mover in the mortgage space.

“Nothing is more intrinsic to the American dream than buying a home. Accepting crypto as a down payment will essentially turn digital currencies into an All-American reality,” Kelley added.

The start of accepting Bitcoin and other digital currencies as verified assets for loan approvals, methods of down payments, and the making of monthly payments are still “subject to approval and all State and Federal applicable laws”. The Home Loan Expert LLC is the first major mortgage lender to go all in and lead the industry into the digital currency space.

Q&A with a L.O.: Mike Bertarelli

February 26, 2021 by Staff Reporter

Q&A with a Loan Officer: Mike Bertarelli

In this Q&A, I spoke to Mike Bertarelli about his role as a loan officer. He talked about why he chose to work in the mortgage industry, what motivates him to keep climbing and his top tip for people looking to buy a home.

Why did you choose to get into the mortgage business?

For me, it was not really a choice. I came into this position after graduating from college in 2014. During this time, I had worked a few sales jobs. The mortgage industry fell into my lap at this company. I kind of jumped on it. I knew it would be a lot of customer-based work. It was really important to me to not just sit behind a desk and plug away on data entry.

I like to talk to people. I found out quickly that there is a lot that goes into a mortgage. I realized how big getting a mortgage is for people, how there are many factors that go into it, and it made me stay. The importance of mortgage itself made me want to help others.

I have been with the company for five years. I went to the University of Missouri – Columbia (Mizzou) and graduated with a bachelor’s degree in busines administration with an emphasis in marketing.

What does a typical day look like for you?

As a loan officer, my days kind of blend together. We’re on our phones a lot since everything is digitized. One thing you learn quickly in this position is that our clients also have jobs. It’s my job to handle things for them outside of work hours. I would say you wake up, check emails, and make sure you’re getting priorities on from the night before.

Whether something pops up with the IRS or an income issue, we hop on them pretty quick. I work with a lot of different clients across the country. How my day looks will depend on each loan situation. We go through the pipeline to make sure our customers are updated with what’s happening with their loan, which takes one to three hours a day. We’re known for not being a big bank but rather people who want make the mortgage process a little easier for our clients.

The approach I take is that our clients are hands-on and want to know what we’re doing to accomplish their goals. We get a lot of incoming inquiries from commercials shown during sports games. We are also known for following up with people who reach out to us. I prefer to call and talk to people as opposed to email because it’s more personable. The rest of my time is spent taking care of things that pop up. No two days are the same in the world of a loan officer, which makes my job pretty cool. It’s always changing.

What motivates you to keep climbing every day at work?

I think it’s a great question to ask now. Working from home can be a challenge. We have our professional goals. It’s not just about meeting the goal for the company, but I take the clients into consideration. They have real lives that will be affected by their decision to buy a home and use us to do their loan. To me, I always think about how we can be the best lender. There are hundreds upon hundreds of lenders. When I get a client, I think to myself that they chose us, and I take the responsibility of this seriously. I enjoy the prospect of helping people out with their situation.

I have a personal duty to my job. Loan officers take an exam to become accredited by different states in order to do this line of work. You know this is a serious job when you talk to people about their careers’ worth of finances to buy a home or completing a cash out refinance because so much is riding on the line for the client. To be able to figure out solutions and help people to get where they want to be with their finances is rewarding in a sense. People can get so much out of having a lower mortgage payment such as pay off their student loans or pay off other significant debt. To the average borrower, their home payment is their biggest bill or their biggest piece of debt.

You have to be on your “A Game” because you’re dealing with the livelihood of another person. There are probably loan officers out there who clock in at 9 a.m. and out at 5 p.m. We don’t live by that here. Ryan Kelley had a hand in training us to handle the position responsibly. We honor that people trust us with this important decision so sometimes we work around the clock to do a good job in our positions.

What is your top tip for people looking to buy a home?

Do your research!

I think there is a lot of information out there that is really important that you should look into. You should call us (shameless plug) if you have any questions about anything. The odds are good that the questions you have are questions that we have already answered. You must really figure what you want before you make that call.

Additionally, make sure you are prepared to handle the cut-throat market we have right now. You can’t be on the sidelines. You have to be all in, prepared and ready to make the decision on the home you want to own. Once you do all of this, the hardest part is over. We can take it from there.

Tips For Selling Your Home During Winter Months

February 19, 2021 by Staff Reporter

The housing market has experienced an exponential increase in demand for houses over the last year. As a result of this, it is a great time to sell your home. Let us tell you more about why it’s a great time to sell even though we are currently in the middle of winter and a pandemic.

Under normal conditions, selling your home during the winter could come with its unique challenges. You would need to make your home “seller friendly.” This means that you need to make sure that the home is updated, looks attractive to borrowers, and been cleared of any cosmetic problems. The walls should have a fresh coat of paint and there should be new flooring. Some folks complete a full renovation of their house from top to bottom This includes making sure every room looks good, updating any lighting fixtures, and making sure home appliances are up to date. The appraisal of your home needs to be on par with the asking price.

Another thing you would need to do in a “normal” market is set yourself apart. Before the pandemic happened, there was a slightly different process for viewing a home. There would be a showing where a realtor would set up sandwiches in the kitchen and stage the home so borrowers could see themselves living in the space. Viewings are important because borrowers need to imagine what their life could be like in the home.

House showings have been different during the pandemic. People cannot just walk into an open house, so the housing industry has gotten more creative. There are apps that borrowers can use to schedule viewings. Regulators have also placed limits on the number of people who can see a home at a time. Virtual home tours are becoming an increasingly popular way to look at homes.

The demand for new homes has come from an abundance of different places. When people sell their homes during the winter, it is typically harder because the supply is higher than the demand of the home. Currently, this is not an issue because the supply is not keeping up with the demand in the housing market. People who are currently working from home with their spouses and/or children are realizing they need more space.

When working in close quarters with others, it has made people come to the realization that upgrading their space would be beneficial. An issue some people have is that they are hesitant to move during the winter because this would interfere with a child’s schooling. Moving right now is a little easier than it has been in recent years.

Right now, it does not matter when you sell your house. The usual hurdle associated with selling your home during winter months could be the curb appeal of the home. The front yard or garden may not be as vibrant as it would be in warmer months. Imagine looking at a nice two-story house with a fresh paint job on the outside, a newly manicured garden, and a clean driveway. This entices the borrower to see what else the home has to offer.

The season changes are usually not as noticeable in states with a warmer climate, like Florida, Alabama or Arizona. In places where it is warm all year-round, this would not be an issue. With this in mind, it is a little easier to sell a home in states located in the southern parts of the country because curb appeal can be maintained.

The natural next question to have is what’s next. If you want to buy another home, you want to put your trust in a reputable lender. Rates are in the two’s, which makes it a great time to buy a home or refinance for a lower mortgage payment. If you’re prepared to take the next step, we can help!

A Great Time to Refinance

February 18, 2021 by Staff Reporter

With national mortgages rates at historic lows, people are considering the option to refinance. Let us tell you why people around the country are refinancing their homes right now and saving money on their monthly payment.

Refinancing is an option that homeowners look at their mortgage to see if they can get a lower monthly payment. In 2020, our borrowers who completed a rate and term refinance with a 30-year term saved on average about $339 per month. You may ask yourself what is that? Simply put, a rate and term refinance is when you adjust the interest rate and term of your mortgage while maintaining the original remaining principal amount.

Other options include a cash out refinance. You essentially trade out your current loan for a new one, but you can take out the monetary difference between the two loans in cash. This option is appealing to homeowners because they can put this money toward a financial goal.

Mortgage rates are changing all of the time, but they have been consistently low over the last few months as the market has struggled. Rates are in the two’s to be exact! This means that homeowners have the opportunity to examine options available to them to see if they can get a lower rate. If you can get a lower payment, think about the money that you can save or direct toward another financial goal.

A question you should ask yourself, as you consider refinancing, is: What would you do with an extra $300 a month, which was only the average in 2020? This is Here are some different things that you could do with the money you saved on your mortgage payment.

Consolidate your debt

One way to use the money is to consolidate your debt, which can raise your credit score. You can pay off your credit card debt, student loan debt, and any other obligations you may have right now. If you take care of the debt now, you should have more money for the things you want in the long run.

Go on a family vacation

The current global health crisis that we are living through has caused certain changes in our day to day lives. Travelling may not look the same for us especially with certain countries placing restrictions on tourist travel. However, there are ways to get around this. You can take a solo or family vacation into the woods. The benefits of this includes fresh air, activities like fishing and hunting, and getting away from the busy city life. You work hard. You deserve a moment to unwind every now and then.

Another vacation related thing you can do is plan for one. Let’s say you have the money you need for the vacation you want right now, but the country has travel restrictions. You can save money to take the vacation you want when the country you want to visit is open to visitors.

Purchase a new car

Aside from a house, one of the other biggest purchases you’ll make in your life is a car. There are nice sports cars, affordable family vehicles and sustainable, electric cars. Everyone’s dream life looks a little bit different. A cash out refinance could potentially supply a person with the funds to buy a new car.

Do home improvement projects

With the money you could receive from a cash out refinance, it could go towards home improvements. You can use it to buy the new refrigerator you’ve been eyeing or complete that new fence project you’ve put off for months. You could even upgrade your laundry game with a new washer and dryer. Home improvement projects take time, patience and a little extra cash to make it happen. A cash out refinance could be just what you need to update your home. Making sure your home it up to date is also important when it comes to selling your home.

Buying a home is only the first step in your life as a homeowner. It is up to you to keep climbing to get the best mortgage. We can help you refinance in as little as 14 days. Our excellent customer service will keep you informed and confident every step of the way. Our streamlined process takes care of the refinance process from start to finish. Give us a call today!