The Ups and Downs of the Housing Market
November 26, 2021
A lot of homebuyers found the housing market to be very competitive and tough out there in 2021. Some economists expect 2022 to be a little gentler. If you are in the market for a home, and chasing that great American dream of being a homeowner is what you are searching for, great ready to have a lot of strategy and stamina. Also, why not let your first call be with a TVFCU Mortgage Originator such as Kasey Lewis who recently appeared on a TVFCU virtual mortgage seminar. Below are some of the important issues that Kasey addressed.
Q: Is TVFCU just as competitive as other financial institutions when it comes to getting a mortgage?
A: Yes, and even more so. TVFCU offers up to 100% financing on a mortgage and up to 97% financing on a Jumbo Loan. TVFCU has a wide range of products that can fit into almost anyone buyer’s budget. A simple call to our Mortgage Department, and having that brief consultation with a Mortgage Originator will make all the difference in the world. Remember it’s all part of the strategy.
Q: What happens during the consultation?
A: The most important thing about the consultation is to get all of the borrower’s financial information on the table. The next thing is to get that pre-approval letter written which can then connect you with any realtor. That one letter allows the buyer to have more buying power it’s like a magic key that will let you into any house in your price range. The journey really begins with that letter from your lender that tells how much money TVFCU is willing to lend to you, up to a certain loan amount.
Q: What are some of TVFCU’s most popular products when buying a house?
A: Many hopeful home buyers ask, “Can you buy a house with no money down?” The answer is yes. TVFCU offers 100% financing on our fixed and adjustable rate mortgages. This is an interest on a loan that can fluctuate over time. With our mortgages, we offer a 24, 14 and 10 year fixed rate option. We also offer a 7-1 and 10-1 adjustable rate options. These are arms where your interest rates are locked in for either 7 or 10 years. Each year after that your rate could adjust either up or down. We also offer vacant land financing. TVFCU offers 95% financing which is a great deal when building your home.
View our The Housing Market & TVFCU Mortgage Products video from our TVFCU Virtual Mortgage Seminar series to learn more.
Start the mortgage prequalification process here.