The successful lender is going to have to transition to doing more purchase loans. In addition, they will have to reach more first-time homebuyers. Some are already going down this path. For example, in response to a recent report naming the top 10 markets for first-time homebuyers, Churchill Mortgage is continuing to support local communities by providing the right loan product for each borrower.
According to the report, the top markets include, by rank, Pittsburgh; Tampa-St. Petersburg-Clearwater, Fla.; Philadelphia; Fort Worth-Arlington, Texas; Orlando, Fla.; Jacksonville, Fla.; Dallas; Raleigh-Durham-Chapel Hill, N.C.; and Phoenix-Mesa, Ariz. Cities were ranked based on location, affordable list prices, ample inventory, reasonable time on the market and steady employment.
Churchill Mortgage provides these communities with the tools and education necessary to become homeowners. In addition, the lender’s Home Buyer Workshops, held throughout the year in different cities, teach prospective borrowers the primary steps to homeownership as well as offer budgeting advice for home financing. Churchill Mortgage also counsels homebuyers on how to complete a mortgage application, how to select the right loan program and lock in interest rates, what to look for in a Realtor, and what to know before shopping for a home.
“Many potential first-time homebuyers are in an excellent position to purchase a home, particularly in these markets,” said Mike Hardwick, president of Churchill Mortgage. “As these communities continue to show positive growth, we stand ready to help first-time homebuyers achieve the real American dream of debt-free homeownership.”
About The Author
Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at firstname.lastname@example.org.