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Why Strategy Beats Rates: Unlocking Savings in Any Market

In today’s market, it’s easy to get caught up in the headlines about rising interest rates, but what truly matters is having the right strategy. Back in September, my client was able to lock in what were the lowest rates we had seen in a long time. Fast forward to now, and while rates have hit their highest point, the strategic use of seller credits has allowed my clients to secure better deals—beating both the original interest rate and overall purchase price.This is why strategy is everything. In a shifting market, simply chasing rates isn’t enough. By leveraging the current conditions, such as negotiating seller credits, you can actually reduce your costs and get into a better financial position than if you were only focused on rates. Let’s focus on smart, tailored strategies that work for your goals today and in the future.

From $275K Frustration to $285K Success: A Homebuyer’s Journey

A client initially came to me with an FHA pre-approval for $275,000, frustrated by the limited options in that price range. After reviewing their financial situation, I identified an opportunity to increase their buying power. By switching to a conventional loan, I was able to pre-approve them for up to $315,000 with 20% down, which included the potential for an appraisal waiver to make their offer more competitive.We met to discuss the details, and I discovered they qualified for an income-specific program that provided a $2,500 closing cost credit. This credit was then applied to lower their interest rate by 0.5%.Two days later, the client found a $285,000 home they loved, made an offer, and it was accepted—appraisal waiver included. This second look not only gave them more options but also secured better terms, making the entire homebuying process smoother and more successful.

Appraisals – Gaps, Strategies, & What if it comes in Low?

Navigating the homebuying process can often feel like a complex puzzle, especially when it comes to understanding the role of mortgage appraisals. At the heart of it, mortgage appraisals serve a critical function—they ensure that buyers are paying a fair market value for their new home. In unique markets, appraisals can become a compelling part of any offer, adding a layer of assurance for both the buyer and seller. However, this assurance often brings about a pivotal question: how can one make their offer stand out in a competitive market? That's where I come in, armed with strategies and a creative approach to financing that can navigate through even the most challenging situations.1. Handling Low AppraisalsImagine your offer on a dream home is accepted, but the appraisal comes in $50,000 lower than the agreed purchase price. Such a situation can raise concerns for both listing agents and sellers, potentially derailing the closing process. Through a carefully crafted approach, I demonstrate how to keep the transaction on track, ensuring that everyone proceeds to closing without unnecessary stress. A video example in the sidebar shows a real-life scenario where a low appraisal didn't stop the sale, thanks to strategic problem-solving and negotiation.2. Waiving Your AppraisalThe decision to waive an appraisal is significant and can make your offer more appealing to sellers in a competitive market. However, it's crucial to understand the implications of this choice. In the accompanying video, I explore how waiving your appraisal can impact your deal, offering insights on protecting your interests and maintaining your expected monthly payment. This strategy is particularly useful for buyers who can afford to take a calculated risk but still want to ensure financial stability.3. Strategies for Buyers with 10% DownMany buyers believe that putting down less than 20% limits their options, especially in terms of competitive offers and financing. However, I introduce a distinctive strategy that boosts confidence among buyers only able to put 10% down. By choosing a lender who thinks outside the box—like me—you might find yourself looking at a mere $12,000 difference rather than a deal-breaker. The sidebar features a video that walks you through how this approach works, setting it apart from conventional lender strategies.My Commitment to YouI thrive on finding solutions that not only meet the needs of all parties involved but also pave the way to a smooth and successful closing. Taking the time to explore and implement creative financing options is more than just a job to me—it's a passion. My goal is to keep you informed, confident, and excited about your home purchase, from the initial offer to the moment you receive your keys.Curious about how these strategies can work for you? Looking for a personalized solution that aligns with your unique situation? Click the link to the side to schedule a call with me. Let's make your homebuying journey a memorable and rewarding experience, together.*Available for Conventional Loans Only with 10%+ Down Payment.*

Your Guide to Rate Buydowns

Navigating the current real estate market as a buyer? You might have stumbled upon the term "rate buydown." If you're wondering what it's all about, you're not alone! Many folks find themselves puzzled over how rate buydowns function, which type to go for, and how it could be a game-changer for you and your loved ones.What is a buydown?:Imagine securing a deal on your mortgage where you pay less interest initially - that's a buydown for you. It's a strategy aimed at snagging a lower interest rate for the first chunk of your mortgage term, or perhaps for its entirety.The 2-1 Buydown Breakdown:Opting for a 2-1 buydown means you'll be paying less for the first two years. Each year, your interest rate ticks up by 1%, until the third year rolls around, when you start paying the full interest rate. The early years' savings are essentially subsidized by the seller to the lender.Weighing Buydowns: The Pros and ConsDeciding on a buydown isn't one-size-fits-all. It depends on your loan size, the starting rate, potential interest savings, and your future income outlook. How long you plan to stay in the property also plays a role.Resources:Check out the example videos in the sidebar to see real-life scenarios demonstrating how a buydown could work to your advantage. These quick guides will give you a clear understanding of the benefits and how they might apply to your situation. Don’t miss out on these valuable insights!

Reviews

"Amazing customer service, quick response time, creative thinking/planning"

caitlin f

"Shelby and Lois provided timely and great communication. Shelby’s knowledge allowed me to get a great rate for these times. I always felt like a person and not just an anonymous client."

lisa jill k

"Shelby went above and beyond to help my first time home buyers. I’m excited to continue to work together in the future!"

claire m

"Creative and non stop until the job was done. My wife and I both agree we felt that Shelby went above and beyond to get us the approval and rate we needed. She even went as far as to work on a Saturday close to our closing date to make sure everything was perfect. I am excited to refer others to her in the future. Thank you, Shelby!!"

austin l

"Shelby and the team were fantastic to work with!! It was my first experience purchasing a place of my own and they made the process seamless."

grace b

"Shelby is a top notch lender! She is on her game and great with communication!! I highly recommend!"

katherine lee

"Shelby was awesome per usual! She is on top of her game, and great with communication throughout the process! I highly recommend!!"

katherine l

"Shelby was very easy to contact and readily available to answer any questions we had despite being outside of normal business hours."

camille n a

"Shelby was fantastic!! She is super communicative and creative. We felt very supported during the stressful experience of home buying in this market."

margaret howard lloy s