Mortgage brokers are intermediaries between borrowers and lenders, offering assistance in finding and securing mortgage loans. Here's what they typically provide: Access to Multiple Lenders: Mortgage brokers work with a variety of lenders, including banks, credit unions, and private lenders. This allows them to offer borrowers a range of options to suit their needs. Expertise and Guidance: Brokers have in-depth knowledge of the mortgage market, including various loan products, interest rates, and qualification requirements. They can provide personalized advice based on your financial situation and goals. Loan Comparison and Selection: Brokers analyze your financial profile and help you identify mortgage options that align with your needs and preferences. They can compare loan terms, interest rates, and fees from different lenders to find the most suitable option for you. Application Assistance: Brokers assist with the mortgage application process, helping you gather necessary documentation and complete paperwork accurately and efficiently. Negotiation: Brokers negotiate with lenders on your behalf to secure favorable terms, including interest rates, loan terms, and closing costs. Streamlined Process: Working with a broker can streamline the mortgage process, saving you time and effort by handling much of the legwork involved in securing a loan. Continued Support: Even after your mortgage is approved, brokers can provide ongoing support and assistance, answering questions and addressing any concerns that may arise. Overall, mortgage brokers offer a valuable service by simplifying the mortgage process, providing expertise, and helping borrowers find the best possible loan options for their individual circumstances. tune in and learn https://www.ddamortgage.com/blog Di dier Malagies nmls#212566 DDA Mortgage nmls#324329

U.S. home prices continued to climb in March as a persistent shortage of homes for sale helped to buoy the housing market, according to the Intercontinental Exchange (ICE) Home Price Index. And while prospective homebuyers cope with the challenges of rising housing unaffordability, existing homeowners are reaping the benefits of historically strong price gains. Nationwide equity on mortgaged homes soared to a record $16.9 trillion in the first quarter of 2024, with $11 trillion available for leverage while maintaining a 20% equity cushion — also an all-time high. The ICE index showed that home prices increased by a seasonally adjusted 0.42% month over month in March, marking the third consecutive month of above-average price gains, although this was a slight pullback from February’s 0.58% increase. On an annual basis, home price growth eased slightly in March to 5.6%, below the upwardly revised gain of 6% in February. “The recent trend of rising interest rates has dampened homebuyer demand and allowed the inventory of homes for sale to improve,” Andy Walden, ICE’s vice president of enterprise research strategy, said in a statement.  “We’re still very much in a hole from an inventory perspective, but that deficit has fallen from 50% a year ago to 38% in March. Today, with 3.3 months of supply, inventory is still historically low and indicative of a seller’s market. This is helping to keep home price growth resilient even though