Shelter Six:  100% Conventional Loan Now Available

Millennials now represent the largest generational group in the history of the U.S. with a population of nearly 84 Million.

The largest segment of Millennials will turn 30 over the next 1-2 years and are expected to dominate home purchases over the next decade.

Surprisingly, according to a recent Freddie Mac survey, many potential home buyers have misinformation regarding what it will take to buy a home.

Nearly a third of those surveyed falsely think a 20% down payment is required to buy a home and that all of the down payment needs to come from personal savings.

The reality is that there are many loan programs that require only 0-5% down and that the down payment can often come from a gift.  Real estate agents and mortgage professionals everywhere need to do a better job of getting this word out.

The Shelter Peak 100 is a Conventional purchase program that requires no money down, a 660 credit score, and income that doesn’t exceed 140% of the Area Median Income.

Rate Update

Weaker than expected economic data was modestly positive for mortgage rates last week. Headlines about the trade negotiations between the U.S. and China caused some volatility but had little net effect.

This Week

Existing Home Sales will be released on Tuesday, New Home Sales on Thursday, and Durable Orders on Friday. In addition, news about the status of the trade negotiations between the U.S. and China could influence mortgage rates.

May 20, 2019 by · Leave a Comment

About James

James A. Williamson is currently the Sr VP of Sales Development for Shelter Lending Services (formerly Fairfield Mortgage). James joined Shelter in 1994 and was the company's top Loan Officer in GA for 20 straight years helping over 2500 families finance their homes. James now oversees an incredible group of Loan Officers in Atlanta while further building Shelter's Atlanta business.

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