Rise and Shine! “April showers bring May flowers” has never been more true. Rain can ruin our days, forcing us inside to avoid the storm and becoming soaked. However, what results after the storm passes are beautiful flowers in full bloom, brightening our days! Our ability to weather storms separates those who enjoy the blossoming afterwards or those who get caught in the rain. As we head into the second half of the year, we must be aware of how to weather the storms that the economy faces to enjoy the flowers that follow….

"Life is 10% what happens to us and 90% how we react to it." - Charles R. Swindoll

Performance Stats

• $31,485,410 in funded volume

• 88 closings

• A+ rating with Better Business Bureau

• 900+ 5-Star reviews on Google and counting!

1. How Student Loan Repayments Affect Your Mortgage

Student loan repayments are resuming in August 2023, impacting mortgage applicants and current homeowners. Here's what you need to know:

Impact on Mortgage Applicants:

• Debt-to-Income Ratio (DTI) may be affected, potentially limiting your eligibility, reducing qualified loan amounts, or raising interest rates.

• Affordability may decrease, making it harder to save for a down payment.

• Creditworthiness could be impacted if you struggle with loan payments, leading to higher rates or mortgage denial.

Impact on Current Mortgage Holders:

• Cash flow may decrease due to additional financial obligations.

• Refinancing plans may be affected by higher DTI ratios.

• Budget adjustments may be necessary to manage both mortgage and student loan payments.

• Potential loan defaults or bank garnishments

Conclusion:

Evaluate the impact of student loan repayments on your eligibility, affordability, and creditworthiness. Make necessary budget adjustments and seek professional guidance to navigate these changes and make informed decisions regarding your mortgage.

To read more about how to reduce expenses and save, check out our article!

2. Markets Rundown

If you want to find out what discounted rates are based on your personal profile, please fill out this form .

Rates are up from April but overall lower than national average according Freddie Mac

3. Realtor of the Month

About:

Hello! My name is Alyx, and I'm excited to share a bit about myself. Originally from sunny Southern California, my family made the move to Arizona in 2006 and I have called it home ever since. As a dedicated Realtor with eXp Realty, my passion for real estate ignited when I purchased my own home in 2020. Since then, I've been driven to help others achieve their dreams of finding the perfect property. I absolutely relish the art of strategizing, navigating negotiations, and fostering collaborative relationships to guide my clients successfully to the finish line. I proudly serve the Phoenix and Prescott area.

Hobbies:

My hobbies are traveling with my husband, decorating our home (it's still a work in progress) and my love for photography.

Favorite TV Show:

My favorite TV show is Cops lol

Goals:

In the next 5 years I'd love to own 2 investment properties!

Contact Info:

Phone: (480) 600-0030

Email: [email protected] 

Website: https://alyxandrahydrick.exprealty.com/ 

LICENSE #: SA699963000

MLS ID: AH959

Do you know a realtor? Please refer them to us! We’d love to hear and feature them on future editions!

4. Top Mortgage News

• Rocket Mortgage rolls out 1% down payment grant program (Rocket Mortgage)

• Student loan repayments are coming this Fall (Federal Student Aid)

• National debt ceiling was raised to prevent default (CNN)

• Federal Government pauses national interest rate hikes for June (Business Insider)

(Articles are not endorsed in any matter by Agave Home Loans)

5. Sticky Media: Bigger Pockets Podcast

The BiggerPockets podcast is a highly popular resource for real estate investing. Hosted by David Greene and Rob Abasolo, it offers valuable insights for beginners and experienced investors alike. The show covers a wide range of topics, providing a comprehensive introduction to real estate investing for beginners and delving into advanced strategies, market trends, and wealth-building principles for experienced investors. The podcast fosters a sense of community and offers practical advice, making it an essential resource for all skill levels in the real estate industry.

You can listen to the episodes on their website, apple music or Youtube!

(You can start with Episode 1 by clicking the links below)

• Listen on Apple Music

• Listen on Bigger Pockets Website

• Watch on Youtube

"I truly believe that real estate investing is one of the most powerful vehicles for building wealth and creating financial freedom. It's not about being lucky; it's about being educated, strategic, and taking action."

- David Greene, BiggerPockets

6. Sweet Visuals: National Average Interest Rate

National Average Mortgage Interest Rates over time (2071-2023)

Source: Freddie Mac

 Want More Agave?

Subscribe to our Youtube channel!. We are still ramping up but you’ll get access to:

1. Market deep-dives & discussions

2. Realtor Interviews: in’s and out’s of the real state market

3. Deeper understanding of complex mortgage topics

4. Loan Officer trainings and a backstage look at what it takes to be a Loan Officer

See you on YouTube!

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AGAVE HOME LOANS

MORTGAGE BROKERAGE

PHONE 888.300.3440
EMAIL [email protected]
WEB www.agavehomeloans.com
AGAVE NMLS #1951574

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