Home Prices Are Rising In America

home_prices_rise_middle_america

Middle America’s Rising Home Prices

If you looked at the residential market 15 years ago, metro areas considered small by the size of New York City, Los Angeles, and Boston’s real estate were deemed to be prime residential property areas. These smaller metro areas gave residents the advantage of allowing residents to keep more cash in their bank account due to, typically, lower mortgage payments. Now in 2018, this market has changed considerably and Middle America is one of the desired areas to buy a home.

Forward to 2018

Panama City, Florida real estate remains one of the fastest growing residential metro areas in this country, due to its traditional low tax rates and favorable weather conditions. The central part of the United States has seen it’s biggest boom between 2012, and in 2018 this trend continues because of the robust job markets in this section of the country.

Nashville, Tennessee, Boise, Idaho, and Fayetteville, Arkansas has a six percent increase from 2012 to 2016 in residential sales due to net migration alone, making this a great area to buy a home or sell a home!

 

Huntsville, Alabama is now a thriving residential market due to the quality of life the city offers. Living in downtown Huntsville is an affordable option while buying a ranch with significant average is only a 20-minute commute. These different, yet very accessible options, gives residents the ability to create their own desired unique atmosphere to live.

The Number 1 and Number 3 Best Places to Live in 2018

Austin, Texas, and Denver, Colorado are the number one and three places to live for 2018. These are great examples of areas that do not border the standard coastal hubs that have now become prime real estate areas.

What has attracted so many residents to these vital metro cities once viewed as ” flyover country “? These major cities are industry magnets, attracting significant corporations and business, giving potential residents a very favorable job market to work.

Other Growing Middle America Cities

Des Moines is another enterprising example of a growing residential real estate community. Des Moines has long known as the capital of the insurance and financial services industry.

The city of De Moines has solidified and continued to increase its prominence in the insurance and financial services industry by soliciting and encouraging the technology companies that service these industries nearby.

This avenue not only continues Del Moines standing in the insurance/financial world but has also managed to bring the insurance and business technology needs in the same city, bringing more jobs to the town, thus the demand for more residential housing.

 

The capital of Utah, Salt Lake City, is considered the premier leader in data analytics, attracting the venture capital industry. This city, the fifteen rated town for Best Places to Live. Salt Lake City has put considerable funds adapting residential areas, business areas, and roads to connect to metro areas.

The average morning commute time in Salt Lake City averages 22 minutes. This commute time is an excellent example of how the city has taken advantage of mass transportation locations and their layout. The mass transportation system in Salt Lake City, being so utilized that owning a car is not needed for residents in the downtown districts.

Communication in Middle America Is Now Easier

There will always be the attraction to the big, coastal cities. However, with modern everyday communication technology, it is much less complicated for companies to communicate with the coastal towns and Middle America cities.

Preparing Your Move

When you are moving, especially from one city to another state, it is Stressful! On average, fifteen percent of the United States’ population will move this year and face this exhausting process. The help of a local Realtor will make your move 100% less stress free. 

 

Four Tips When Preparing Your Move

  1. Organization – This is the key to a stress-free move, and early planning is necessary. Research the moving companies and take inventory of all the items they will be moving.

 

  1. Book A Moving Company – You need to book your moving company with as much advance time as possible. In the busier summer months, be advised a minimum of one month notice and in winter months a minimum of three-weeks notice.

 

  1. Buy Your Packing Materials – To save on your moving costs, start packing unneeded items yourself. Make sure your moving company specifies the price of the packing materials and what packing materials are covered as part of your final proposed quote.

 

  1. Downsize and start packing early – Start early, look over what you need and what you don’t need and what goes away. Items not used very often but still need should be packed soon so you have a realistic idea of how much will have to be loaded in the moving truck

The world of the residential housing market is an evolving changing market. Middle America cities that we once just flew over, and thought we would never consider as our place to live, now rank as some of the best cities to live in this country!

Is Becoming a Mortgage Broker For You?

become a mortgage lender

 

If you’re considering a career in real estate, one possible choice is becoming a mortgage broker. What does a mortgage broker do, you ask? Well, mortgage brokers work for clients (who are looking to purchase either private residences or commercial property) to research, find, and secure the best mortgage interest rate and loam terms. Interest rates are ever-changing, so the research is ongoing.

Qualifications For a Mortgage Broker

What are some qualifications that are useful when becoming a mortgage broker? As will most jobs, proficient verbal and written skills, as well as well-rounded personal skills are must-haves. A good grasp of math, especially with financial, sales, and marketing concepts is also a must-have. You have to be able to explain financial concepts to your clients, as well as have a familiarity with credit and lending. Because you will be seeking clients, it’s also really helpful to have an outgoing personality.

It’s also very important to note that being a mortgage broker can call for long hours in search of lenders for clients. It is also not typically a Monday through Friday, 9 to 5 job, as most of your clients are not going to be available for the day as they will often be at work. In other words, mortgage brokers have to be accommodating with their clients’ schedules.

Its All About Effort

Sadly, this is not a job you can just get if you try hard enough—you have to have a high school diploma, 20 hours of training, and a good foundation of knowledge in the finance and economics world. It would even be helpful to have a base of accounting and law knowledge. For that last one, there are many opportunities to improve your knowledge base with online courses.

What About a Salary?

mortgage brokers salary

So how do mortgage brokers make money? Depending on whether you work independently or for a firm, you may or may not earn a salary as a mortgage broker. There is additional compensation based on the mortgages and loans you are able to secure for your clients. Starting out, you might not bring in as much as an experienced broker. Mortgage broker salaries (depending on location, experience, success, and if you are a mortgage broker or a loan officer etc.) can range anywhere from low $30,000 a year to near $80,000 a year. Again, dependent on location and success, you can earn commissions upwards of $100,000 in addition to that salary.

Getting Your Mortgage Broker License

mortgage lendingSo how do I become a mortgage broker? Well, the industry is heavily regulated and each state is going to have its own requirements for this. First thing, in every state, you have to get your mortgage broker license and bonded. The exam is given by the National Mortgage Licensure System (NMLS), and is called the SAFE Mortgage Loan Originator Test.

This exam has state-specific questions, as well as a large portion of national regulation questions. There are many resources online to help with exam prep.

Important to note, the mortgage broker exam fees are a fixed amount for all brokers regardless of which state you are in. The national component costs $110, and the state component is $69.

Assuming you’ve passed the exam and gotten your mortgage broker license, many states in the U.S. require that you also obtain a broker bond. What is a broker bond? It’s a type of surety bond that acts as a protection for your clients (the future homeowners) in the case that you are found to be doing business fraudulently. Which, of course, you won’t… right?

The bond works the same as insurance does—you pay an annual premium to be covered for a certain state-required amount. The cost you’ll pay depends partly on the amount of the bond and your credit score.

Sounds Tough Doesn’t It?

Still interested? Great! So take some time to research the specific requirements in your state for becoming a licensed and bonded mortgage broker. Make sure that you complete all of the requirements, pass that exam, and you’re on your way to a successful and fulfilling career in real estate as a mortgage broker.

Congratulations, now you are licensed and bonded to be a mortgage broker in your state. Don’t forget, you have to renew your license and bond annually, and in most states even have to take required continuing education hours. Also not to be forgotten is that if you are planning to operate in multiple states, you have to have a license for each of them—that can add up!

 

Recent Articles

Texas Mortgage Education

Texas Mortgage Education

 

Image result for texas mortgageTexas home mortgage loan can be yours for the asking. Just do your homework initially, make sure you have a decent credit history, get a deposit in hand for the house you want to purchase, and after that contact an excellent home mortgage broker. Remember that a home loan broker can just earn money when he or she finds you a loan, and helps in the state of Texas of getting a Texas mortgage loan. If you live in Texas, and you are in the market for a home, see with a mortgage broker and he or she will assist you determine what Texas home loan you presently qualify for. A mortgage broker functions as an intermediary in between you and home mortgage loan providers, assisting you find the ideal mortgage item for your needs. Brokers might work independently, be associated with a loan provider, or really be staff members of lenders. A home loan broker or any other loan provider will typically have paperwork for you to complete and questions to solution to see how they can best assist you. Lot of times they will permit you to go through this procedure online. If you have concerns, make sure to request for assistance.

 

Image result for mortgageA good place to begin looking for home loan brokers in Texas is in your local chapter of the Texas Association of Mortgage Brokers. Getting a Texas home loan for you are financially helpful to the home mortgage broker or lender, so they will utilize their experience to assist you fill out the forms properly. At this time the mortgage broker will likewise run a credit check, describe it to you and reveal you how you can make improvements in your scenario in order to much better get a Texas mortgage loan. Texas mortgage programs will still ensure you can benefit from the house value gratitude’s presently on an upward trend in this state. Texas home mortgage loan companies can be agents in between the client and the lending institutions or they can be the lending institutions also. An educated mortgage company would have the ability to offer ideal loan options like lower rates for customers with excellent credit score or no-income verification loans for self-employed individuals having excellent credit history.

 

Image result for mortgage

Texas home mortgage loan companies likewise use refinance home loan for clients who are planning to decrease their current loan burden. There are numerous sort of mortgage readily available in Texas: FHA (Federal Housing Administration) loans, debt consolidation loans, land loans, standard loans, balloon loans and unique loans like difficult equity loans, interest just loans, 100% money out refinance, building loans, business mortgage, farmers home mortgage, no PMI (Personal Home loan Insurance coverage) loans, vacant land and acreage mortgage and cross- collateralize of properties.However, lots of people get preapproved for a loan, either online or offline before they are ready to buy and that expedites the process of getting a Texas mortgage. Saving time is constantly an advantage. Whatever technique you choose, getting a Texas mortgage is much easier than ever, so enjoy your brand-new house.

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Louisiana Mortgage Education – Maybe you’re purchasing your very first house in Louisiana, or possibly you’re relocating to Louisiana from another state. In any case, it is essential that you inform yourself on Louisiana home mortgage before buying a house. This post explains exactly what you’ll require to know before purchasing a home in Louisiana: The typical price of a home in Louisiana is $111,200, and houses Image result for mortgagein Louisiana appreciate at less than half of the rate of the typical national home gratitude. The rate of task development in Louisiana is well below the national average. In fact, income levels in lots of parts of Louisiana are too low to purchase a median-priced home with a conventional loan. Average interest rates on home loans in Louisiana are simply. 01% higher than the nationwide typical interest rate. House prices in Louisiana can vary significantly between zip codes. For example, in the summertime of 2005, the median rate of a house in New Orleans, Louisiana, was $148,000; however, the typical rate of a home in Baton Rouge, Louisiana, was $450,000. Louisiana has the strictest mortgage financing laws of all 50 states. The Louisiana Fair Lending Act prohibits the financing of credit insurance and financial obligation cancellation protection and limits both late and payoff charges. Louisiana positions restrictions on all house loans instead of the high-cost loan arrangements of other states with equivalent anti-predatory financing programs. Louisiana’s Second Home loan Loan Program uses down payment loans at 0% interest to authorities officers, firemen, teachers, and health care employees. Louisiana also has a Fair Housing Law that restricts home loan discrimination versus anybody due to the fact that of their race, color, gender, religion, familial status, or national origin.

 

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