When Mortgage Rates Dip, Buyers Jump!

Earlier this month Mortgage rates hit their best levels of the year—and buyers snapped back! 🔥
📈 Applications jumped 7% in one week. Every time rates drop, the market lights up.💥

We’re getting closer to normal spreads, and if the economy cools? 5% rates could be coming 👀👊 Let’s GO! 🏡

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New! Same Day Mortgage Approval Program

We’re excited to roll out our Same Day Approval program—designed to help qualified buyers get approved for a mortgage within just one business day!

Here’s how it works:

• Lock in your rate and submit all required documents within 24 hours.
• Get a fast, streamlined approval for conventional purchase or refinance loans.
• Close in as few as 10 days (depending on third-party timelines).

Who qualifies?

• W-2 employees or fixed-income borrowers
• Primary residence purchases or refinances
• Must submit all documents quickly after locking your rate
• Available in most states (some exclusions apply)
• This program is perfect for buyers who are ready to move quickly and want a smooth, efficient mortgage process.

📩 Have questions or want to see if you qualify? Reach out—we’d love to help!

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FHA Rule Change: Who’s Eligible Going Forward

Starting May 25, 2025, the FHA (Federal Housing Administration) is updating its rules to no longer allow non-permanent resident aliens to qualify for FHA-insured home loans.

What this means:

Only U.S. citizens and lawful permanent residents (green card holders) will be eligible for new FHA loans.

This applies to both purchase and refinance loans.

If you’re currently under contract or working through the loan process before the deadline, this change may not affect you—but it’s important to act quickly.

Why the change?

The FHA says this update is to help ensure long-term loan stability by limiting FHA-backed mortgages to those with permanent legal status in the U.S.

Who’s impacted?

Borrowers using work visas, student visas, or DACA status will no longer be eligible for FHA loans after the change takes effect.

We still have options to help in these situations! 

✅ Bottom line: If you or someone you know is not a permanent resident and is considering an FHA loan, now’s the time to act.

There are still financing options outside of FHA that allow financing in these situation. Reach out and we’re well-versed in helping with all different citizenship/status types.

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FHFA Specialty Programs

The Federal Housing Finance Agency (FHFA) not to be confused with FHA—which oversees Fannie Mae and Freddie Mac, which controls Conventional home loans—recently announced that it’s rolling back support for certain down payment assistance and specialty programs 😕.

What’s changing?

Programs known as Special Purpose Credit Programs (SPCPs), which offered targeted financial help for first-time and underserved homebuyers, are being discontinued ❌.

This includes some newer initiatives that provided grants, credits, or relaxed underwriting to help buyers in historically underserved communities 🧩.

Why the change?

FHFA says these programs are being paused while Fannie Mae and Freddie Mac remain under federal conservatorship, meaning their mission must stay narrowly focused 🎯.

What this means for buyers:

If you were hoping to use a Fannie or Freddie-backed down payment assistance program, some of those options may no longer be available.

But don’t worry—there are still many other down payment assistance programs that we have available and we’re here to help you find your best fit🧭.

📩 If you have questions or want to explore updated options, reach out—we’re always happy to help you navigate the best path to homeownership! 🏠

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Home Values Are Still Rising—And Could Climb Higher

Despite higher mortgage rates over the past year, home values have continued to rise steadily in most markets across the country.

According to the latest data, U.S. home prices are up nearly 5% year-over-year, showing the ongoing strength of the housing market. Even with affordability challenges, low inventory and steady buyer demand have helped keep prices moving upward.

💡 What’s Next?

If mortgage rates drop later this year, many experts expect home values to increase even more—possibly at a faster pace. Lower rates mean more buyers can afford to jump back in, which could drive up competition and prices.

What This Means for You:

If you’re a homeowner, you’re likely continuing to build equity each month—great news if you’re thinking about tapping into your home’s value.

If you’re a buyer, now might be a great time to act before rates fall and competition heats up again.

📩 Want help running numbers or exploring options before the next wave of buyers jumps in? We’re here to help you strategize!