Ramblings of a Baltimore area Realtor: The Changing Face of Real Estate Financing

The Changing Face of Real Estate Financing

The Changing Face of Real Estate Financing

FHA, FHA 203B, FHA 203K, CDA, LNYW, LNYW+, MMP, VA, Community Communitment, My Community and the list goes on and on.  How do you keep them all straight? 

The real estate industry has been changing over the last few months.  Listings are staying on the market longer.  Homes need to be staged and presented or they won't sell.  Buyer's Agents need to be fully versed and extremely knowledgeable about all the different kinds of financing available or be teamed up with a very experienced loan officer who is a genius.  Loan Officers needed to become licensed this year for the first time.  This is a good thing, especially, given the changes in the industry now and the huge number of different loan products out there. 

In the last few years the only loan product you needed to know was conventional.  Houses were on the market for 2 seconds and if you didn't have conventional financing your contract was rejected.  Now, sellers are anxious to get their homes sold and houses have been improved and staged to make them more attractive and seller's are willing to look at any contract that comes across the table.  A lot of agents have left the business because it's gotten too difficult to get clients and there are fewer and fewer sales.  A lot of loan officers have also left the business.  Cross career networking is key.  You need to have great loan officers who know their stuff in order to get your buyers the best deal out there. Lending is not a one stop shop, not every lender has all the products and is good at getting the job done.  I have a list of preferred lenders and each has a speciality.  

One of my agents introduced me to their latest buyer this week.  The young couple are preapproved for a CDA DSELP loan and I took a quick look at the contract and it's a good contract.  Then I looked at the financing and this couple could have qualified for a different CDA product that would have given them more help with their closing help but the loan officer didn't know about it. 

The key to our success is the team we build.  We are all interdependent on each other for the success that we all ultimately share when our clients purchase their home.  Read everything there is to read, take as many continuing education classes as you can so that you can become as knowledgeable as possible.  In the world of internet and information technology we need to be much more knowledgeable than our forefathers in order to add value to our transactions.  Learning and networking is key.  Don't be complacent, to be successful we much each depend on one another.

If you are thinking of buying or selling a home in  Maryland give us a call at 410-292-0100 or start your search here and we'll talk about the market conditions and what your home could possibly be worth in today's market place if you are thinking of selling.  If you are considering buying a home, there is no better time than now to buy. The tax savings and wealth building alone is worth the plunge into today's market. Houwzer and I are connected with some of the brightest and best real estate agents in the world and can assist with your move here in Maryland or anywhere in the United States or abroad.  Ask me how.

During these trying times, Houwzer and I are equipped with the latest technology to sell your home using Virtual Open Houses, Virtual showings, electronic signing, virtual inspection, and even online closings.   You can reach out to me through Snapchat, Duo, Skype, Google Hangouts, What's App, text messaging, or simply by phone.  We take your and your family's health and safety very seriously.  

June Piper-Brandon ~ Associate Broker ~ CDPE, CIAS, ePro, MRP

Houwzer Inc.

410-292-0100 - Direct   410-559-0155 Office

City Living Expert







June Piper Brandon - Agent with Century 21 New Millennium

June Piper Brandon - Agent with Century 21 New Millennium

Comment balloon 3 commentsJune Piper-Brandon • June 02 2007 10:40PM


In Ms a lot of agents here have been in the business for years and they are very complacent. It is only one way. Quite a few deals close where the buyer could have gotten a better deal or lower rate but the agents are stuck in doing it only one way.
Posted by Michelle Way, ABR, GRI, WCR ( AVALAR Pro Realty) over 13 years ago

This has and always will be a problem.  With all the different loan programs and companies offering them (brokers, banks, internet), it takes a lot to understand all the loan programs out there - to include the pros and cons of each.  Too many loan originators/ officers get comfortable with "one or two" programs and try to fit everyone into them.  With the variety of people out there and their different situations, you need to be able to fit them into a program that best fits their needs.  Yes, it does take a lot of time to learn these programs - but that is what sets professionals apart from the rest.


Posted by Doug Capps, MMS, CLO, CRMS (Guaranty Bank & Trust Co) over 13 years ago
As a Realtor, keeping up with all the loan products is impossible. I do shop around some to make sure my guy is on top of things and he always is! After inspections, financing kills more deals than anything else.
Posted by Wayne B. Pruner, Tigard Oregon Homes for Sale, Realtor, GRI (Oregon First) over 13 years ago

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