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Conventional Home Loans.
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There is no limit to the number of times you can refinance. However, you must qualify every time you apply and there will be costs associated with closing the loan each time.
Yes! There are a number of bond programs that offer low or no down payment financing options.
The key to choosing the right mortgage is to understand the range of options and features available to you, as well as your budget, circumstances, and goals. Our licensed mortgage professionals are here to help you navigate that process. The more you know, the more comfortable and confident you will be choosing the best option for you and your family.
The Truth in Lending Act (TILA) does not permit a lender to close a loan until at least seven (7) business days have passed from the date your application was received. A typical home loan takes 30 days, as a number of third-party services such as appraisals, title work, and credit are required in conjunction with the mortgage process. Once you familiarize your Loan Officer with the details of your specific loan scenario, they will be able to provide you with a more specific timeline.
The only way to find out is to speak with a qualified mortgage professional. Our Loan Officers have helped numerous clients who didn’t know if they could qualify to become home owners. We take the time to understand your financial situation and long-term financial goals, and then match you with the loan program that best fits your needs. Your approval for a loan may also largely depend on the price of the home you are financing. Getting pre-qualified prior to beginning your home search can give you an idea of what you may be able to afford.
Homeowners typically refinance to save money, either by obtaining a lower interest rate or by reducing the term of their loan. Refinancing is also a way to convert an adjustable loan to a fixed loan or to consolidate debts.
This question does not have a simple, one-size-fits-all answer. The exact amount will depend on the price of the home you buy as well the type of mortgage financing you choose. Depending on your loan program, your down payment could be as much as 20% of the home’s price or as little as 3%, while some loans require no down payment at all.
You may still qualify for a home loan even if you have experienced a bankruptcy. The best way to find out if you qualify is to talk with a Loan Officer to discuss your options. Be sure to bring all paperwork regarding your bankruptcy so your Loan Officer can find the program that best fits your situation.
Interest rates fluctuate all day, every day. If an interest rate is good, it may be in your best interest to lock now. If you wait, you run the risk of an increase in rates later. If you are concerned that rates may go down after you lock, contact your Loan Officer to discuss your options. Some programs allow you to lock for an extended period and choose to lower your rate should a better one become available.

Mortgage Market Update Bond Volatility and Middle East Tensions Are Pushing Rates Higher This Week
Tricia Reece's Weekly Mortgage Market Update
Last week was a rough one for the bond market and that pressure translated directly into higher mortgage rates. This week is starting with even more volatility and Tricia Reece at The Bryte Home Loan Team is breaking down what is driving it, what it means for the housing market, and what buyers and homeowners should be watching.
What Is Driving the Current Volatility
Renewed tensions in the Middle East and rising oil prices are the primary forces creating instability in the bond market right now. This is the same dynamic that has appeared repeatedly throughout the current rate cycle. Geopolitical uncertainty pushes energy prices higher. Higher oil prices create inflationary pressure. Inflationary pressure makes bond investors nervous. Nervous bond investors demand higher yields. Higher yields push mortgage rates up.
Tricia is specifically watching bond market volatility as a key indicator. Volatility in this context is a measure of how unsettled and unpredictable market conditions are at any given moment. When volatility rises mortgage pricing becomes less predictable and the range of outcomes for any given day widens. That is the environment buyers and homeowners are navigating right now.
What This Is Doing to the Housing Market
The rate pressure is showing up in housing market data in ways that are visible and worth understanding. Pending home sales are running below last year's levels. Inventory is gradually increasing. More sellers are making price adjustments. That combination tells a clear story about buyers feeling the weight of current borrowing costs and pulling back accordingly.
For buyers with the financial position and the timeline to move this environment creates the negotiating opportunity that has been discussed repeatedly. Seller price adjustments and rising inventory mean more room to negotiate on price, closing costs, and rate buydowns than existed during the peak of the seller's market. The challenge is that higher rates affect the monthly payment equation simultaneously.
What to Watch This Week
Two major data releases are on the calendar. Inflation data on Wednesday and jobs data on Friday. Both have the potential to create meaningful movement in mortgage pricing depending on what they show.
Strong job numbers and persistent inflation would signal to bond markets that the Federal Reserve has more work to do to cool the economy which tends to push rates higher. Softer readings on either front would relieve some of that pressure and could create modest improvement in mortgage pricing.
Tricia will be monitoring both reports closely and their downstream effect on bond market behavior throughout the week.
Why Headlines Should Not Make the Decision for You
The important reminder in any volatile week is that national headlines describe average conditions across the entire country. Your specific situation, your purchase timeline, your financial position, and the specific market you are buying in all matter more than any single data release or rate movement in determining whether now is the right time to act.
Tricia Reece is your mortgage professional for life. Her mission is helping you find the right mortgage solution without making it complicated. If you have been thinking about buying, selling, or simply wondering what the current market means for you reach out directly for a conversation built around your specific situation rather than the headline of the week.
Sources
FederalReserve.gov
MortgageNewsDaily.com
EnergyInformationAdministration.gov
ConsumerFinancialProtectionBureau.gov
NAR.realtor


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