Saturday, June 6, 2020

Lending Programs RETURN

As the economy settles, the forbearance curve flattens and the financial markets become more stable, we are seeing loan programs return.  Such GOOD NEWS for our clients. 
  • Jumbo loans are back for buyers and refinance clients up to an 80% loan to value and a 720 credit score
  • CHFA and our other state DPA programs return with NO restrictions!  This is the program I am most excited about as we help more people move into home ownership and building wealth.
  • Renovations loans are back in full hammer swing!
  • Broker loans and Non-QM are slowly returning as well.
All of those first time home buyers did NOT go away!  In fact, loan applications for FTHB had a 50% less decline than move-up buyers in April, and are DOUBLE the amount of repeat homebuyers in May. Inventory is low, and demand is high. The housing market is as strong as ever.