According to the Mortgage Bankers Association, next year is going to look very similar to this year as far as origination volume goes. Purchase originations are likely to increase slightly each of the next few years — even as potential homebuyers continue to deal with limited inventory and rising rates.
Millennials are likely to drive the market as more and more can’t wait much longer to become homeowners. Their timing — and means to that homeownership end — may be a little unconventional compared to mom and dad and grandma and grandpa. Their employment, sources of down payments, and credit history might make conventional mortgage financing a little more difficult.
If you have that unconventional millennial, or any potential homeowner with unique circumstances in need of financing options, Beyond by Embrace offers almost infinite possibilities compared to other financing options. Consider that millennial client — we will call him Andy. As a kid, Andy dreamt about being a sheriff or a Space Ranger. (Yes, we are going there.) As an adult, Andy freelances as a toy designer. While he is incredibly happy and doing very well financially, Andy’s irregular 1099 income toy design story is a tough read for many mortgage lenders as he looks to finance that new home. It is almost disheartening.
But Beyond by Embrace lets his imagination soar again.
The buzz around Embrace’s new loan program is that it’s light years ahead of what other lenders can currently offer to those unconventional clients that you may encounter. So if that home financing road looks tough for your clients and all they really need is a friend, the options Embrace has to offer go on for (almost) infinity — and Beyond by Embrace can help make homeownership a reality.