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Issue two of Lone Star LO dares to discover exactly who is getting help from Texan down payment assistance programs (DPA) and whether loan officers are doing a good job of becoming DPA liaisons for their clients. A profile on the tenacious Jennifer Guidry steals the show; who knew a top LO has cheated death multiple times and lived to tell the tale? We delve into how Guidry did just that, all while tackling a new career at age 47.
In today's housing market, there are only two types of homebuyers, John Hudson says, the haves and the have-nots. The haves are those with healthy credit scores, a robust financial profile, generational wealth and perhaps previous homeownership experience. The have-nots lack most, if not all, of the aforementioned. And the only way many of those "have nots" can transcend their circumstances is by using down payment assistance programs (DPA).
According to a study conducted by Down Payment Resource and the Urban Institute, more than 30% of mortgage loan applications that are denied every year could have potentially been salvaged had the home buyer applied for down payment assistance. The same study revealed that a whopping 43.6% of single-family purchase loans are potentially eligible for down payment assistance. These aren’t numbers to ignore.
The Top 10 Builders by volume in America in 2023 according to Builderonline.com are listed to the right, in order from 1 ascending to 10: Some of these have become household names (pun intended) and it’s no surprise considering this Top 10 list built a combined 276,941 closed units in 2022. Now just because these builders can slap some sticks together and throw some shingles in it doesn’t mean they are to be trusted or have quality craftsmanship.
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