MOLINGO: Mortgage Lingo with Michele Hammond, Carbon Team at CrossCountry Mortgage

Rates are up, so business must be slow, right?  WRONG!  There is a misconception that higher rates have caused the market to slow down, and while that may be true in some other areas of the country, I definitely do not see that trend in our market.  According to Redfin, 70% of all homes for sale saw bidding wars in early 2022.  Inventory is down and demand is still high, which results in multiple offer situations.  In fact, I’ve seen many clients go from waiving inspections, to waiving appraisals, to waiving financing contingencies to even paying all-cash because that is required to win the property. 

 For those of us who don’t have cash as an option, clients are asking – what can I do to strengthen my offer?  My suggestion is to take advantage of our FastTrack Program.  Our FastTrack Credit Approval program can prevent you from losing your dream home to someone else. With credit conditions already cleared, your loan could close in as few as 10 days after the signing of the purchase contract. I have helped many buyers win in this market using this strategy.  Contact me to find out more. 

Michele Hammond
Vice President of Lending
CrossCountry Mortgage, LLC

C: 443.415.6031

Personal NMLS85839 Branch NMLS1601092
Company NMLS3029

Equal Housing Opportunity. All loans subject to underwriting approval. Certain restrictions apply. Call for details. All borrowers must meet minimum credit score, loan-to-value, debt-to-income, and other requirements to qualify for any mortgage program. CrossCountry Mortgage, LLC NMLS3029 (