GREENWAY BLOG

A greener look at a mortgage process unlike anything you have
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Understanding Bank Statements and Deposits in the Mortgage Application Process

Understanding Bank Statements and Deposits in the Mortgage Application Process

  Navigating the mortgage application process can feel overwhelming, but it doesn’t have to be. By following a few straightforward guidelines regarding your bank statements and deposits, you can significantly streamline your application and approval process. Here’s a simple guide to help ensure everything goes smoothly. 1. Provide All Numbered Pages of Each Account Statement When submitting your bank statements, always include all numbered pages of each document. For instance, a statement labeled “Page 1 of 8” might only be a cover sheet, while “Page 8 of 8” could be blank or feature advertisements. Underwriters need to see...

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MarketMinute | How are homebuilders feeling about the market?

MarketMinute | How are homebuilders feeling about the market?

Retail sales strengthened by more than forecast in September. Resilient consumer spending continues to power the economy. Jobless claims fell much more than economists expected last week, after reaching their highest level of the year during the previous week. The signs of a strong economy and a rebounding labor market, along with higher inflation, are pressuring bonds and pushing mortgage rates higher. Builder sentiment moved up for a second consecutive month. Builders look forward to a busy 2025...

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MarketMinute | What technology do you want in a home?

MarketMinute | What technology do you want in a home?

The economy added far more jobs than expected in September while unemployment fell, pointing to a stronger labor market than believed. September's inflation rate was higher than forecast. When combined with the blowout jobs report, it reduces the likelihood of Fed rate cuts. Jobless claims rose last week to the highest level in over a year. The increase is likely due to the aftermath of Hurricane Helene.   An NAHB survey found technologies to improve energy efficiency and security are most...

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MarketMinute | Investors Show Housing Market Love

MarketMinute | Investors Show Housing Market Love

Job openings unexpectedly increased in August after 2 straight monthly declines, but hiring was soft and consistent with a slowing labor market. In September, however, private sector hiring picked up, according to ADP. The labor market is holding its ground despite some signs of weakness. Fed Chair Powell said the recent half-point policy rate cut shouldn’t be interpreted as a sign that future moves will be as aggressive. August’s pending home sales edged up 0.6% from July's record low...

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What Are Mortgage Discount Points, and Should You Pay Them?

What Are Mortgage Discount Points, and Should You Pay Them?

  What are points, and how much do they cost? "Points" or "Discount Points" are a type of prepaid interest you can pay upfront to lower the interest rate on your mortgage. One point equals 1% of the loan amount. Example: 1 point on a $100,000 loan = $1,000. Should You Pay Discount Points? To decide if paying points is a good idea, calculate your break-even point . This is when the money you save from a lower interest rate equals the upfront cost of the points. Example: On a $100,000 loan, paying 1 point reduces your interest rate by 0.25%, saving you $15.17 per month. Break-even calculation:...

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