Gen Z and Homebuying

January 20, 2020

Step aside, Millennials—there’s a new homebuying kid in town. Generation Z—those born between 1995 and 2010, so between 9-24 years old today—represent a larger share of the population than Millennials, with their cohort of some 68 million vouching for a quarter of the U.S. population. By 2020, Gen Z will account for 40% of all consumers in the U.S.* They want to be homeowners Understanding this group will be critical…


Put FHA Condos Back in Your Playbook!

November 11, 2019

Introducing FHA Condo Single-Unit Approvals The best ability is availability. FHA-backed financing has greatly expanded the ability of first-time homebuyers to purchase a residence, but since the financial crisis of 2008 obtaining an FHA loan for a condominium purchase has been very difficult. In fact, there are approximately 150,000 condominium projects in the United States, but only 6.5% of them are approved to participate in FHA mortgage insurance programs. This…


Go all-in with NAMB All-In

October 14, 2019

If you’re like any other hot-blooded mortgage professional, you probably dream of getting more leads. Your dreams likely also feature reduced closing times and the ecstatic customers-for-life such a positive experience would bring. Winning Technology Designed for Brokers – Pinch yourself—you’re not dreaming. Earlier this year, Freedom Mortgage Wholesale announced its inaugural membership and integration with NAMB All-In, the National Association of Mortgage Brokers’ (NAMB) new cloud-based platform. Powered by…


The Freedom Mortgage Condo Advantage – Getting a Condo got a Lot Easier

July 15, 2019

A condo is a great option for many homebuyers. They can be more affordable and require less maintenance than single-family homes. However, the condo financing process can be very difficult for the prospective homebuyer. It has unique qualifying hurdles that have nothing to do with your clients but can prevent them from closing. The Freedom Mortgage Condo Advantage aims to eliminate some of these hurdles you and your clients face….


“Won’t you be my neighbor?”: Good Neighbor Next Door program

June 10, 2019

To help strengthen revitalizing communities, the Department of Housing and Urban Development created the Good Neighbor Next Door (GNND) program. The program offers a 50% discount on the purchase price of a home—with a low down payment of $100 for FHA loans—to members of society who have dedicated their lives to community betterment. There are three key factors to consider for the GNND discount: The borrower’s job The borrower must…


Social Media: The Future of Digital Marketing or the Present?

May 6, 2019

There was a time when social media was simply a fun way to stay in touch with your friends or share nonsensical videos on the internet. That time is over. Social media is now the new cold call. Why waste an entire day dropping in on businesses who MAY want to do business with you, when you can fire off a post in 30 seconds and let them come to…


Millennial Stereotypes and Home Buying

April 8, 2019

What comes to mind when you think of a Millennial? Most likely, it’s probably something along the lines of a smartphone-obsessed young adult complaining that city homeownership is out of reach—between mouthfuls of $20 avocado toast at brunch. It turns out, that impression couldn’t be further from the truth. New data from shows that the Millennial generation (those born between 1981 and 1996) now holds the largest share of…


Non-Qualified Mortgages are on the Rise: What Does that Mean for You and Your Borrowers?

March 11, 2019

The failure to appropriately qualify applicants for a mortgage loan combined with less stringent underwriting standards have been cited as two key factors in the events that led to the 2008 financial crisis. This has led to various regulatory changes, including the requirement that lenders verify the applicant’s ability to repay the mortgage obligation. This requirement was part of the Ability to Repay (ATR) rule. The ATR rule, among other…


Who are Today’s Home Buyers and Sellers?

February 11, 2019

On October 29th, the NATIONAL ASSOCIATION OF REALTORS released the “2018 Profile of Home Buyers and Sellers.” This annual report provides insights into consumer trends related to the housing market. Highlights concerning buyers: 87% of buyers recently purchased their home through a real estate agent or broker. 90% of buyers would use their agent again or recommend their agent to others. 73% of buyers purchased a home that was the…


Marketing to Millennials? Don’t miss these 3 tips!

January 14, 2019

  News Flash – Millennials ARE ready to be homeowners! According to the National Association of Realtors 2018 Home Buyer and Seller Generational Trends report, Millennials currently make up almost 70% of first-time homebuyers. In fact, Millennials also make up the largest percentage of overall homebuyers, at 34%. So, we know Millennials are in the market for a home, but the real question is, how do we reach them from…