Loan With Jen podcast

Home Values vs. Interest Rates

Are you thinking about buying a home but unsure if now is the right time, or if waiting might be better? With home prices continually shifting, it's normal to question if they might drop soon, especially with changes in interest rates on the horizon. It's also crucial to consider the current housing inventory — is there an abundance of homes available, or are options limited?
Another important aspect to consider is how foreclosures impact the housing market and who is actually able to purchase homes in today's economy. Additionally, refinancing can play a significant role in your home buying process. It might enable you to buy a home sooner than you think by making the financing more manageable. A final piece of advice: don't put off getting pre-approved for a mortgage. The sooner you start working on improving your credit score, the better your chances of securing a lower interest rate and reducing your monthly payments.
Check out our resources below for important links!
In this episode, you’ll learn:
Gain insight into the relationship between home values and interest rates
Foreclosure trends and impact
Home buying motivations amid high interest rates
Future interest rate predictions and effects on buying
The refinancing process and its benefits
RESOURCES:
ATTOM Article: Foreclosure Stats https://www.attomdata.com/news/market-trends/foreclosures/u-s-foreclosure-activity-continues-to-see-an-annual-increase/
Divorces All Time High: Revealing Divorce Statistics In 2024
Homeowners that are <5% Rate https://thehill.com/business/4404959-nearly-nine-in-10-us-homeowners-have-mortgage-rate-below-6-percent-report/#:~:text=More%20than%20three%2Dquarters%20of,3%20percent%2C%20according%20to%20Redfin
👉TikTok: @loanwithjen👉Instagram: @loanwithjen👉Facebook: https://www.facebook.com/loanwithjen 
Jennifer Hughes Hernandez, Legacy Mutual Mortgage - Equal Housing Opportunity Lender NMLS #514497 
💻 Documents Needed to Get Pre-Approved Texas: http://checklist.loanwithjen.com/💻 Loan With Jen | Do Business With Us!: http://apply.loanwithjen.com/💻 Visit My Website - Mortgage Lender Houston | Loan With Jen Education - https://www.loanwithjen.com/
📌More Helpful Content:▶️The Myths and Truths About Credit Inquiries: https://youtu.be/d_RQJnTsVPE▶️Why You Should Use A Local Lender: https://www.youtube.com/watch?v=shkijZmEonA ▶️How to Buy A House With Low Income: https://www.youtube.com/watch?v=OcyjWe0snWU▶️Using Rental Income To Qualify For A Mortgage: https://www.youtube.com/watch?v=kv0eXzl1YUo
To contact us visit www.loanwithjen.com
 Equal Housing Opportunity Lender NMLS# 514497
Click Follow on your podcast app and share the show with a friend who’s thinking about buying a home in the Houston, TX area.
Resources mentioned in the episode:
https://www.loanwithjeneducation.com/
https://www.instagram.com/loanwithjen/
https://www.facebook.com/loanwithjen
https://www.youtube.com/channel/UCFrSijIoUv59fxf0hXMro7g
https://www.linkedin.com/in/loanwithjen/
https://twitter.com/LoanWithJen

Who Can Co-Sign for a Mortgage?

Are you considering adding a co-signer to your loan application to improve your chances of approval? Incorporating a co-signer can indeed increase the apparent income on your application, potentially making you a more attractive candidate to lenders. However, the criteria for who can serve as a co-signer can vary significantly depending on the type of loan you are applying for.
For those looking into government-backed loans such as VA, FHA, or USDA loans, the requirements for co-signers tend to be more stringent. On the other hand, conventional loans typically have more relaxed standards when it comes to co-signers. As you navigate the complexities of securing a mortgage, it’s crucial to consider all the factors that lenders evaluate.
Check out our resources below for important links!
In this episode, you’ll learn:
Understand the difference between a co-signer and a co-borrower
Learn about the specific requirements for co-signers across different types of loans such as VA, FHA, USDA, and conventional loans
Explore how adding co-signers can affect eligibility for USDA loans due to income limits in certain areas
Discuss the stringent requirements for FHA loans
Conventional loans offer more leniency in terms of who can be a co-signer
RESOURCES:
USDA Income Limits: https://eligibility.sc.egov.usda.gov/eligibility/incomeEligibilityAction.do?pageAction=state
FHA Loans: https://www.youtube.com/watch?v=SKsrC-dTUNQ
VA Loans, what you need to know: https://www.youtube.com/watch?v=zDrIhGre7_0&list=PLsjEjJAI2Tj9gJXmp6BND04G82sGoEDlt
👉TikTok: @loanwithjen👉Instagram: @loanwithjen👉Facebook: https://www.facebook.com/loanwithjen 
Jennifer Hughes Hernandez, Legacy Mutual Mortgage - Equal Housing Opportunity Lender NMLS #514497 
💻 Documents Needed to Get Pre-Approved Texas: http://checklist.loanwithjen.com/💻 Loan With Jen | Do Business With Us!: http://apply.loanwithjen.com/💻 Visit My Website - Mortgage Lender Houston | Loan With Jen Education - https://www.loanwithjen.com/
📌More Helpful Content:▶️The Myths and Truths About Credit Inquiries: https://youtu.be/d_RQJnTsVPE▶️Why You Should Use A Local Lender: https://www.youtube.com/watch?v=shkijZmEonA ▶️How to Buy A House With Low Income: https://www.youtube.com/watch?v=OcyjWe0snWU▶️Using Rental Income To Qualify For A Mortgage: https://www.youtube.com/watch?v=kv0eXzl1YUo
To contact us visit www.loanwithjen.com
 Equal Housing Opportunity Lender NMLS# 514497
Click Follow on your podcast app and share the show with a friend who’s thinking about buying a home in the Houston, TX area.
Resources mentioned in the episode:
https://www.loanwithjeneducation.com/
https://www.instagram.com/loanwithjen/
https://www.facebook.com/loanwithjen
https://www.youtube.com/channel/UCFrSijIoUv59fxf0hXMro7g
https://www.linkedin.com/in/loanwithjen/
https://twitter.com/LoanWithJen

Refinancing MIGHT GET Cheaper?

Exciting news for homeowners! President Biden's recent proposal promises big savings on refinancing by eliminating title fees for low-risk borrowers. This change, announced during the State of the Union Address, could significantly lower refinancing costs, especially in states where these fees are a major expense.
If you bought or refinanced your home in 2022 or 2023, you're in luck. With expected interest rate drops later this year, you could start saving on your monthly payments through refinancing. The key to unlocking these savings? Boost your credit score. A strong credit profile not only helps you avoid title fees under the new initiative but also ensures you get the best refinancing rates available.
Get ready to save by improving your credit today!
Check out our resources below for important links!
In this episode, you’ll learn:
Understanding Refinancing
Recent Changes to Refinancing Costs
Steps to Refinance Your Mortgage
The Importance of Credit in Refinancing
Market Insights and Future Rates Predictions
RESOURCES:
Resources:
Market Report: https://youtu.be/UpsOKHzIK0o?si=mn9bcAeA3ui0zpdw
Interest Rates: https://youtu.be/9fsvlsuM40Q?si=o4onRONHiBF_48WS
https://www.fhfa.gov/Media/PublicAffairs/Pages/Director-Sandra-Thompson-Statement-on-Title-Acceptance-Pilot.aspx
 
👉TikTok: @loanwithjen👉Instagram: @loanwithjen👉Facebook: https://www.facebook.com/loanwithjen 
Jennifer Hughes Hernandez, Legacy Mutual Mortgage - Equal Housing Opportunity Lender NMLS #514497 
💻 Documents Needed to Get Pre-Approved Texas: http://checklist.loanwithjen.com/💻 Loan With Jen | Do Business With Us!: http://apply.loanwithjen.com/💻 Visit My Website - Mortgage Lender Houston | Loan With Jen Education - https://www.loanwithjen.com/
📌More Helpful Content:▶️The Myths and Truths About Credit Inquiries: https://youtu.be/d_RQJnTsVPE▶️Why You Should Use A Local Lender: https://www.youtube.com/watch?v=shkijZmEonA ▶️How to Buy A House With Low Income: https://www.youtube.com/watch?v=OcyjWe0snWU▶️Using Rental Income To Qualify For A Mortgage: https://www.youtube.com/watch?v=kv0eXzl1YUo
To contact us visit www.loanwithjen.com
 Equal Housing Opportunity Lender NMLS# 514497
Click Follow on your podcast app and share the show with a friend who’s thinking about buying a home in the Houston, TX area.
Resources mentioned in the episode:
https://www.loanwithjeneducation.com/
https://www.instagram.com/loanwithjen/
https://www.facebook.com/loanwithjen
https://www.youtube.com/channel/UCFrSijIoUv59fxf0hXMro7g
https://www.linkedin.com/in/loanwithjen/
https://twitter.com/LoanWithJen

Buy a House with Low Income! USDA 502 Direct Loan Program

Ever thought owning a home was out of reach because your income isn't sky-high? Well, we've got some great news for you. The federal government has got your back with a special program that's like a helping hand to make your homeownership dreams come true, especially if your budget is tight. It's all about the USDA's 502 Direct loan, a gem that might just be your ticket to a place you can call your own.
We're going to dive into what the 502 Direct loan is all about, breaking it down so it's super easy to understand. No need to wade through government speak or financial jargon. We'll walk you through the essentials, like what the program is, who it's for, and most importantly, how you can apply. So, if you're in the 'low to median' income bracket and think homeownership is beyond your grasp, stick around. This info could be a game-changer for you!
Check out our resources below for important links!
 
In this episode, you’ll learn:
What is USDA's 502 Direct Loan program
Eligibility criteria for the USDA 502 Direct Loan
Benefits offered by the USDA 502 Direct Loan program
Guidance on how to apply for the USDA 502 Direct Loan
Credit and income verification processes for the USDA 502 Direct Loan program
Must-listen moments: 
[00:00:45] Who can benefit from the USDA 502 Direct Loan program.
[00:01:00] Zero percent down payment feature of the program.
[00:01:15] Details on the potential subsidy money to assist with monthly payments.
[00:01:30] Minimum income guidelines and their variance by county.
[00:01:45] Property eligibility requirements related to rural areas.
[00:02:00] Proving lack of access to safe and affordable housing.
[00:02:15] Requirement of the loan being for the primary residence only.
[00:02:30] Citizenship or eligible non-citizen status requirement details.
[00:02:45] Limitations on the property size and land associated with the program.
[00:03:00] Clarification on the inability to own another home while receiving this loan.
[00:03:15] Benefits of the program regarding interest rates and loan repayment terms.
[00:03:45] Yearly income verification process for continued subsidy eligibility.
RESOURCES:
Resources:
🔎 → Search Eligible Areas: https://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do
🔎 → Check Income Limits in Your Area, just click on your state: https://www.rd.usda.gov/sites/default/files/rd-grhlimitmap.pdf
🔎 → Your USDA Texas Office: https://www.rd.usda.gov/tx
🔎 → Info on the USDA Website: https://www.rd.usda.gov/programs-services/single-family-housing-programs/single-family-housing-direct-home-loans-6
🔎 → Certified Packagers: https://www.rd.usda.gov/programs-services/services/direct-loan-application-packagers
 
👉TikTok: @loanwithjen👉Instagram: @loanwithjen👉Facebook: https://www.facebook.com/loanwithjen 
Jennifer Hughes Hernandez, Legacy Mutual Mortgage - Equal Housing Opportunity Lender NMLS #514497 
💻 Documents Needed to Get Pre-Approved Texas: http://checklist.loanwithjen.com/💻 Loan With Jen | Do Business With Us!: http://apply.loanwithjen.com/💻 Visit My Website - Mortgage Lender Houston | Loan With Jen Education - https://www.loanwithjen.com/
📌More Helpful Content:▶️The Myths and Truths About Credit Inquiries: https://youtu.be/d_RQJnTsVPE▶️Why You Should Use A Local Lender: https://www.youtube.com/watch?v=shkijZmEonA ▶️How to Buy A House With Low Income: https://www.youtube.com/watch?v=OcyjWe0snWU▶️Using Rental Income To Qualify For A Mortgage: https://www.youtube.com/watch?v=kv0eXzl1YUo
To contact us visit www.loanwithjen.com
 Equal Housing Opportunity Lender NMLS# 514497
Click Follow on your podcast app and share the show with a friend who’s thinking about buying a home in the Houston, TX area.
Resources mentioned in the episode:
https://www.loanwithjeneducation.com/
https://www.instagram.com/loanwithjen/
https://www.facebook.com/loanwithjen
https://www.youtube.com/channel/UCFrSijIoUv59fxf0hXMro7g
https://www.linkedin.com/in/loanwithjen/
https://twitter.com/LoanWithJen

Don't Pay Capital Gains / 1031 Exchange Basics

Have you ever felt that pang of regret when a chunk of your investment gain ends up with the tax folks? Well, let's chat about the 1031 Exchange, a nifty strategy that might just be your new best friend in the investing world. Imagine keeping more of your hard-earned money to invest in the next big opportunity. That's the magic of the 1031 Exchange— allowing you to grow your investments instead of trimming them down with each sale.
Now, you might be wondering, "Is this 1031 thing for everyone?" Well, it's not a one-size-fits-all kind of deal, especially not for your cozy home. But if you've got an investment property and you're eyeing another, you're in luck. Curious about whether you can swap a rental house for an apartment complex? Or maybe trade a commercial space for a retail spot? We are here to guide you through these questions with clear, straightforward talk, no tax gibberish in sight. We'll walk you through the essentials of how a 1031 Exchange works, step by simple step, to make sure you're set up for success and savings on your next real estate venture.
In this episode, you’ll learn:
What a 1031 exchange is
What types of properties qualify for a 1031 exchange
Primary benefit of a 1031 exchange
Procedural steps involved in a 1031 exchange
How 1031 exchanges work in various situations
Must-listen moments: 
[00:00:45] What is a 1031 Exchange?: At this moment, the host provides a clear and concise definition of a 1031 exchange, setting the stage for deeper discussion.
[00:01:30] The Origin of '1031': The host explains why it's called a 1031 exchange, referencing the specific section of the Internal Revenue Code, which helps demystify the term.
[00:03:00] What qualifies as like-kind property, a core concept in understanding 1031 exchanges.
[00:04:00] The 1031 exchange is only applicable to investment or business properties, not personal residences.
 
[00:05:00] How a 1031 exchange can defer capital gains taxes, a key benefit for real estate investors.
[00:06:00] An overview of the procedural steps involved in executing a 1031 exchange 
[00:07:00] Timeframe for property identification: The host explains the 45-day rule for identifying potential replacement properties, a critical deadline in the process.
[00:08:00] Closing Deadline: The 180-day closing requirement.
[00:09:00] How different types of properties can be exchanged.
[00:10:00] Converting vacation homes into rental properties for a 1031 exchange.
RESOURCES:
IPX1031 - Intermediary
Asset Preservation Incorporated - Intermediary
Securitas1031 - Intermediary
IRS Fact Sheet about Like-Kind Exchanges
👉TikTok: @loanwithjen👉Instagram: @loanwithjen👉Facebook: https://www.facebook.com/loanwithjen 
Jennifer Hughes Hernandez, Legacy Mutual Mortgage - Equal Housing Opportunity Lender NMLS #514497 
💻 Documents Needed to Get Pre-Approved Texas: http://checklist.loanwithjen.com/💻 Loan With Jen | Do Business With Us!: http://apply.loanwithjen.com/💻 Visit My Website - Mortgage Lender Houston | Loan With Jen Education - https://www.loanwithjen.com/
📌More Helpful Content:▶️The Myths and Truths About Credit Inquiries: https://youtu.be/d_RQJnTsVPE▶️Why You Should Use A Local Lender: https://www.youtube.com/watch?v=shkijZmEonA ▶️How to Buy A House With Low Income: https://www.youtube.com/watch?v=OcyjWe0snWU▶️Using Rental Income To Qualify For A Mortgage: https://www.youtube.com/watch?v=kv0eXzl1YUo
To contact us visit www.loanwithjen.com
 Equal Housing Opportunity Lender NMLS# 514497
Click Follow on your podcast app and share the show with a friend who’s thinking about buying a home in the Houston, TX area.
Resources mentioned in the episode:
https://www.loanwithjeneducation.com/
https://www.instagram.com/loanwithjen/
https://www.facebook.com/loanwithjen
https://www.youtube.com/channel/UCFrSijIoUv59fxf0hXMro7g
https://www.linkedin.com/in/loanwithjen/
https://twitter.com/LoanWithJen

Should I Use A Realtor®?

If you're in the middle of deciding whether to bring a realtor into your home buying or selling adventure - Realtors® are instrumental in securing the best price for a home, uncovering the ideal property to call home, or simplifying the intricate paperwork involved.
 
The thought of compensating a realtor® with a commission might initially cause hesitation, as they do receive a significant portion of the sale. However, it's important to recognize that for buyers, this arrangement typically doesn't result in additional out-of-pocket expenses, as the cost is often covered by the seller.
 
Think of realtors® as your real estate navigators, armed with insider info on the market, negotiation chops, and the lowdown on listings you won't find anywhere else. So, as you weigh your options, consider how a realtor® might just be the ally you need to make your home buying or selling journey a smooth sail.
In this episode, you’ll learn:
The role of Realtors® in Home Buying and Selling
The benefits of working with a Realtor®
How Realtors® are compensated
Negotiation and closing processes
Legal and compliance aspects of real estate transactions
Must-listen moments: 
[00:02:30] The journey begins: Why consider a realtor® for buying or selling your home?
[00:04:15] How realtors® add value to your home selling process.
[00:06:00] Navigating the home buying process with a realtor®.
[00:08:45] Understanding realtor® commissions: How does it work?
[00:10:30] The hidden benefits of partnering with a realtor®.
[00:12:15] Case study: Successful home sale with a realtor's expertise.
[00:14:00] Case study: Finding the dream home with professional guidance.
[00:16:45] Expert tips: Preparing your home for sale.
[00:18:30] - Must-know: Evaluating a realtor's credentials.
[00:20:15] The negotiation edge: How realtors secure the best deals.
[00:22:00] Market insights: Understanding current trends with a realtor's lens.
[00:24:45] The legalities: How realtors® help navigate contracts and paperwork.
👉TikTok: @loanwithjen👉Instagram: @loanwithjen👉Facebook: https://www.facebook.com/loanwithjen 
Jennifer Hughes Hernandez, Legacy Mutual Mortgage - Equal Housing Opportunity Lender NMLS #514497 
💻 Documents Needed to Get Pre-Approved Texas: http://checklist.loanwithjen.com/💻 Loan With Jen | Do Business With Us!: http://apply.loanwithjen.com/💻 Visit My Website - Mortgage Lender Houston | Loan With Jen Education - https://www.loanwithjen.com/
📌More Helpful Content:▶️The Myths and Truths About Credit Inquiries: https://youtu.be/d_RQJnTsVPE▶️Why You Should Use A Local Lender: https://www.youtube.com/watch?v=shkijZmEonA ▶️How to Buy A House With Low Income: https://www.youtube.com/watch?v=OcyjWe0snWU▶️Using Rental Income To Qualify For A Mortgage: https://www.youtube.com/watch?v=kv0eXzl1YUo
To contact us visit www.loanwithjen.com
 Equal Housing Opportunity Lender NMLS# 514497
Click Follow on your podcast app and share the show with a friend who’s thinking about buying a home in the Houston, TX area.
Resources mentioned in the episode:
https://www.loanwithjeneducation.com/
https://www.instagram.com/loanwithjen/
https://www.facebook.com/loanwithjen
https://www.youtube.com/channel/UCFrSijIoUv59fxf0hXMro7g
https://www.linkedin.com/in/loanwithjen/
https://twitter.com/LoanWithJen

When Will Mortgage Rates go Down?

When will mortgage rates dip in 2024? It could be earlier than you anticipate. Last December 2023, J. Powell, the head of the Federal Reserve, announced the end of rate hikes. Looking ahead, we're anticipating at least three rate cuts starting around May. While the Feds rates don't exactly match mortgage rates, they definitely influence them.
So, why the shift towards lower rates, especially with inflation still above target? Powell believes that the heightened rates are no longer needed. It seems like the economy, along with corporate profits and banks, could use some relief. This, in turn, means consumers might see lower interest rates on things like homes, credit cards, and cars. Lowering mortgage rates isn't just about numbers; it's about reigniting the American dream of homeownership. This move could inject a fresh sense of pride among consumers, fostering growth in families and communities. Stay tuned as we delve into more stats and forecasts about this year's rates!
In this episode, you’ll learn:
Distinction between the federal funds rate and mortgage interest rates
How Federal funds rate influences emergency loans for banks and indirectly impacts consumer loans
How mortgage rates are set
A need to boost consumer confidence through lower rates
Job cuts and the housing market's role in economic health
A prediction on a downward trend in rates
Must-listen moments: 
[00:00:20] Discussion of the Federal Reserve's decision to stop raising rates and expected decreases in 2024.
[00:00:40] Clarification that the Federal Reserve's rate is different from mortgage interest rates.
[00:01:49] Explanation of the potential timeline for the Federal Reserve's rate reductions in 2024.
[00:02:30] Description of the federal funds rate and its historical context.
[00:03:00] Correlation between the 10-year Treasury yield and mortgage rates.
[00:03:30] Insight into how mortgage rates are determined daily by investors' sentiments.
[00:04:00] Discussion on the Federal Reserve's stance on inflation and interest rates in 2024.
[00:04:30] Analysis of the current economic situation and the need for rate reduction.
[00:05:00] The impact of interest rates on banks, credit cards, and car loans.
[00:05:29] The role of consumer confidence and the housing market in the economy.
[00:06:00] Overview of job cuts in major companies and the affordability gap in housing.
[00:07:00] Predictions for mortgage rates by the end of 2024.
Resources:
https://www.msn.com/en-us/money/markets/initial-us-employment-reports-overstated-by-439000-jobs-in-2023/ar-AA1mzhiu?ocid=socialshare
https://www.cbsnews.com/news/citi-layoffs-2024-20000-job-cuts-jane-fraser/
https://www.cnbc.com/2024/01/30/ups-reports-drop-in-package-volume-stock-tumbles.html
👉TikTok: @loanwithjen👉Instagram: @loanwithjen👉Facebook: https://www.facebook.com/loanwithjen 
Jennifer Hughes Hernandez, Legacy Mutual Mortgage - Equal Housing Opportunity Lender NMLS #514497 
💻 Documents Needed to Get Pre-Approved Texas: http://checklist.loanwithjen.com/💻 Loan With Jen | Do Business With Us!: http://apply.loanwithjen.com/💻 Visit My Website - Mortgage Lender Houston | Loan With Jen Education - https://www.loanwithjen.com/
📌More Helpful Content:▶️The Myths and Truths About Credit Inquiries: https://youtu.be/d_RQJnTsVPE▶️Why You Should Use A Local Lender: https://www.youtube.com/watch?v=shkijZmEonA ▶️How to Buy A House With Low Income: https://www.youtube.com/watch?v=OcyjWe0snWU▶️Using Rental Income To Qualify For A Mortgage: https://www.youtube.com/watch?v=kv0eXzl1YUo
To contact us visit www.loanwithjen.com
 Equal Housing Opportunity Lender NMLS# 514497
Click Follow on your podcast app and share the show with a friend who’s thinking about buying a home in the Houston, TX area.
Resources mentioned in the episode:
https://www.loanwithjeneducation.com/
https://www.instagram.com/loanwithjen/
https://www.facebook.com/loanwithjen
https://www.youtube.com/channel/UCFrSijIoUv59fxf0hXMro7g
https://www.linkedin.com/in/loanwithjen/
https://twitter.com/LoanWithJen

2024 Housing Prediction Houston, TX

In this episode, we dive into housing predictions for Houston, Texas in 2024. Jen interviews a 25 year veteran of the homebuilding industry about  the market conditions for builders last year and an upcoming proactive approach some home builders are implementing to keep ahead of market trends.Jen and guest Benita Owens of Meritage Homes explore local housing market dynamics, including interest rate trends and buyer behavior. They talk about pricing strategies - explaining how pricing is responsive to interest rate changes and buyer demand. 
Overall, we have an optimistic outlook for the Houston housing market, encouraging potential buyers to invest now, foreseeing price increases as interest rates potentially drop in 2024. 
 
In this episode, you’ll learn:
A plan aiming to meet the anticipated buyer demand
A widespread expectation of a market crash
A scarcity on inventory and the recent dip in interest rates
A gradual decrease in interest rates and prediction on influx of buyers
A potential decrease in interest rates by 2024, might be a surge in market activity
 
Must-listen moments: 
[00:00:31] Benita Owens' introduction, representing Meritage Homes at Montgomery Oaks
[00:00:50] 32 years of experience in home building
[00:01:50] Analysis of the 2023 market for builders and its success
[00:02:16] Meritage's plans and strategies for 2024
[00:02:54] Buyer demand in the Houston market, especially in the Conroe area
[00:04:13] The correlation between housing prices and interest rates, and the best time to buy
[00:05:18] Texas down payment assistance and its impact on interest rates
[00:06:58] Pricing range in Houston's market and future predictions
[00:08:09] Houston's appeal due to low cost of living and housing affordability compared to other parts of the country
[00:08:46] Final predictions on inventory, buyer demand, and market trends for 2024
[00:09:34] The advice to 'marry the home and date the rate,' emphasizing the current market opportunity.
👉TikTok: @loanwithjen👉Instagram: @loanwithjen👉Facebook: https://www.facebook.com/loanwithjen 
Jennifer Hughes Hernandez, Legacy Mutual Mortgage - Equal Housing Opportunity Lender NMLS #514497 
💻 Documents Needed to Get Pre-Approved Texas: http://checklist.loanwithjen.com/💻 Loan With Jen | Do Business With Us!: http://apply.loanwithjen.com/💻 Visit My Website - Mortgage Lender Houston | Loan With Jen Education - https://www.loanwithjen.com/
📌More Helpful Content:▶️The Myths and Truths About Credit Inquiries: https://youtu.be/d_RQJnTsVPE▶️Why You Should Use A Local Lender: https://www.youtube.com/watch?v=shkijZmEonA ▶️How to Buy A House With Low Income: https://www.youtube.com/watch?v=OcyjWe0snWU▶️Using Rental Income To Qualify For A Mortgage: https://www.youtube.com/watch?v=kv0eXzl1YUo
To contact us visit www.loanwithjen.com
 Equal Housing Opportunity Lender NMLS# 514497
Click Follow on your podcast app and share the show with a friend who’s thinking about buying a home in the Houston, TX area.
Resources mentioned in the episode:
https://www.loanwithjeneducation.com/
https://www.instagram.com/loanwithjen/
https://www.facebook.com/loanwithjen
https://www.youtube.com/channel/UCFrSijIoUv59fxf0hXMro7g
https://www.linkedin.com/in/loanwithjen/
https://twitter.com/LoanWithJen

Will the Housing Market Crash in 2024?

Will the housing market crash in 2024? We address a common misconception: those anticipating a steep drop in home prices may find themselves disappointed. Fluctuations don't necessarily indicate a market crash, as defined by a rapid and significant drop in prices due to an oversupply of homes and a lack of buyers.
 
We also discuss Federal Reserve policies, their influence on interest rates, and the broader implications for the housing market, emphasizing the importance of understanding these dynamics for anyone involved in buying, selling, or refinancing a home.
In this episode, you’ll learn:
A reflection on the 2008 housing crisis
A significant shift in the loan landscape with more robust, fully documented loans, and fewer foreclosures in 2023-2024
Despite the high rates causing some potential buyers to pause their home searches, there is a pent-up demand waiting to re-enter the market 
A potential decrease in interest rates by 2024, might be a surge in market activity
 
Must-listen moments: 
[00:00:32] Nationwide home price trends from November 2022 to November 2023
[00:01:15] Slight decrease in home prices in December 2023 and its causes
[00:02:00] Definition of a housing market crash and its characteristics
[00:02:45] Reference to the housing bubble, comparison with previous years, and the 2008 crash
[00:03:30] 2008 financial crisis and its impact on mortgage lending
[00:04:15] Analysis of risky loan practices and their consequences leading up to the 2008 crash
[00:05:00] Foreclosure peak in March 2007 and its cascading effects on the financial sector
[00:05:45] How mortgage-backed securities contributed to the financial crisis
[00:06:30] The lending practices in 2008 and the healthier state of current loans in 2023-2024
[00:07:15] Current state of foreclosures and their absorption in the market
[00:08:00] The pent-up demand for housing and its potential impact on the market
[00:08:45] Interest rate trends in 2024 and their effect on the housing market
[00:09:15] Examination of Federal Reserve policies and their implications for future interest rates.
Resources:
2008 Housing Bubble 2000s https://en.wikipedia.org/wiki/2000s_United_States_housing_bubble
Foreclosure Activity 2008 to 2023 https://www.attomdata.com/news/market-trends/foreclosures/attom-mid-year-2023-u-s-foreclosure-market-report/
CONTACT JENNIFER!
👉TikTok: @loanwithjen👉Instagram: @loanwithjen👉Facebook: https://www.facebook.com/loanwithjen 
Jennifer Hughes Hernandez, Legacy Mutual Mortgage - Equal Housing Opportunity Lender NMLS #514497 
💻 Documents Needed to Get Pre-Approved Texas: http://checklist.loanwithjen.com/💻 Loan With Jen | Do Business With Us!: http://apply.loanwithjen.com/💻 Visit My Website - Mortgage Lender Houston | Loan With Jen Education - https://www.loanwithjen.com/
📌More Helpful Content:▶️The Myths and Truths About Credit Inquiries: https://youtu.be/d_RQJnTsVPE▶️Why You Should Use A Local Lender: https://www.youtube.com/watch?v=shkijZmEonA ▶️How to Buy A House With Low Income: https://www.youtube.com/watch?v=OcyjWe0snWU▶️Using Rental Income To Qualify For A Mortgage: https://www.youtube.com/watch?v=kv0eXzl1YUo
To contact us visit www.loanwithjen.com
 Equal Housing Opportunity Lender NMLS# 514497
Click Follow on your podcast app and share the show with a friend who’s thinking about buying a home in the Houston, TX area.
Resources mentioned in the episode:
https://www.loanwithjeneducation.com/
https://www.instagram.com/loanwithjen/
https://www.facebook.com/loanwithjen
https://www.youtube.com/channel/UCFrSijIoUv59fxf0hXMro7g
https://www.linkedin.com/in/loanwithjen/
https://twitter.com/LoanWithJen

Mortgage Loan Limits in 2024

In this episode, we delve into the topic of increased loan limits for 2024. We explain the role of financing agencies like FHA (Federal Housing Administration) and FHFA (Federal Housing Finance Agency) in adjusting loan limits annually in response to inflation and rising home prices. 
What is the importance of these changes for homebuyers and the consistency of loan limit increases over the years.
In this episode, you’ll learn:
How this change affects the home ownership journey
New loan limits for different types of loans and area
USDA, VA loans and 0% down payment
FHA loans as accessible but have lower limits
Must-listen moments: 
[00:00:45] How FHA and FHFA adjust loan limits annually in response to inflation and changes in the median home price
[00:01:15] Significance of these loan limit changes for individuals on their home ownership journey
[00:02:30] New maximum loan amount for conventional loans in 2024
[00:03:10] How to calculate the purchase price with the new loan limits
[00:03:50] Distinction Between Loan Amount and Sales Price
[00:04:20] Jumbo loans and their requirements
[00:05:00] Down payment percentages for different types of buyers
[00:05:45] Lower loan limits for FHA loans and their target demographic
[00:06:30] Specific numbers used in FHA loan limits.
[00:07:10] USDA loans and the specifics of VA loans
[00:07:50] Loan limits in high-cost areas like California and the East Coast
[00:08:15] Historical trend of loan limit increases, and the rare exceptions
Resources:
- FHA Loan Limits 2024 https://www.hud.gov/press/press_releases_media_advisories/hud_no_23_265- Conventional Loan Limits 2024 https://sf.freddiemac.com/articles/news/loan-limit-values-for-2024- FHA Loan Summary https://youtu.be/ce0R8jt5WkY?si=1S_6tBLnRbZBFyLV- Conventional Loans Summary https://youtu.be/LcpEAn0SrcU?si=ZGvtni7YhcDWKk6u- USDA Loans Summary https://youtu.be/sn4PCuiMeCs?si=Bsh-ObiKvZixcNiH- VA Loans  https://youtu.be/1j_SJbpTzt4?si=28JHS25njyJKXHMJ
👉TikTok: @loanwithjen👉Instagram: @loanwithjen👉Facebook: https://www.facebook.com/loanwithjen 
Jennifer Hughes Hernandez, Legacy Mutual Mortgage - Equal Housing Opportunity Lender NMLS #514497 
💻 Documents Needed to Get Pre-Approved Texas: http://checklist.loanwithjen.com/💻 Loan With Jen | Do Business With Us!: http://apply.loanwithjen.com/💻 Visit My Website - Mortgage Lender Houston | Loan With Jen Education - https://www.loanwithjen.com/
📌More Helpful Content:▶️The Myths and Truths About Credit Inquiries: https://youtu.be/d_RQJnTsVPE▶️Why You Should Use A Local Lender: https://www.youtube.com/watch?v=shkijZmEonA ▶️How to Buy A House With Low Income: https://www.youtube.com/watch?v=OcyjWe0snWU▶️Using Rental Income To Qualify For A Mortgage: https://www.youtube.com/watch?v=kv0eXzl1YUo
To contact us visit www.loanwithjen.com
Equal Housing Opportunity Lender NMLS# 514497
Click Follow on your podcast app and share the show with a friend who’s thinking about buying a home in the Houston, TX area.
Resources mentioned in the episode:
https://www.loanwithjeneducation.com/
https://www.instagram.com/loanwithjen/
https://www.facebook.com/loanwithjen
https://www.youtube.com/channel/UCFrSijIoUv59fxf0hXMro7g
https://www.linkedin.com/in/loanwithjen/
https://twitter.com/LoanWithJen