See what Essex has been up to this month! Happy Father's Day!
Every month we post to our social accounts but sometimes, that gets lost in the massive amounts of content found online at any given moment. Keep up to date with us in our blogs and monthly newsletters.
Here's what you'll find in this newsletter:
Top Loan Officers & Employee Spotlight
Top Loan Officers from last month:
Tammy Harrison, Christian Clements, and Troy Weatherly
"Tammy Harrison’s communication skills were second to none. She made our experience wonderful and I can’t say enough good things about her. I highly recommend everyone to use her service and I promise, you will be delighted."
- Maria J.
"Chris was very friendly, professional and informative. He took time to make sure I understood the entire process. My realtor also said she will recommend Chris to future clients."
- Nancy J.
"Troy and his team were amazing to work with. Troy explained the loan process and interest rates in terms I could understand. He and his team were there for me every step of the way.
- Jennifer L.
Chris Collins | Branch Manager
Question: How long have you worked at Essex?
Answer: 5 years!
Question: Why do you like working at Essex?
Answer: The communication and relationship we all have as a team to help each other, from loan officers, underwriters all the way up to the owner himself. No other company has transparency and growth like us.
Question: What's a fun fact of yours?
Answer: I have three kids (9, 5, 2), a dog, two cats, two fish and share a birthday with my wife (September 21st).
Question: What are your favorite spring activities?
Answer: Surfing and Golfing
About Essex Mortgage
Community Spotlight: Hope For The Warriors
Hope For The Warriors is a philanthropic organization dedicated to supporting service members, veterans, and their families who have been affected by physical and psychological injuries while serving. They offer a range of programs and services encompassing health and wellness, transition support, recreational activities, and educational opportunities. Through their compassionate and comprehensive approach, they strive to empower individuals and families, providing them with the tools and support needed to overcome challenges and thrive in their post-military lives.
If you would like to learn more or donate to Hope For The Warriors, click the link to learn more: https://www.hopeforthewarriors.org
(Photo from hopeforthewarriors.org)
Hailing from Essex, England, Roland Weedon founded Essex Mortgage in 1986. With a background in education, Roland remained adamant that educating the client wouId be the company's #1 priority. Today, Roland still holds to the fact that an educated client is best equipped to make decisions that are not only in their best interest, but also help in achieving both short and Iong-term goals.
Housing Expense Ratio
The housing expense ratio is a percentage that lenders use to determine how much of a borrower's income can be used to pay for housing costs. It is calculated by dividing the monthly mortgage payment, property taxes, and homeowners insurance by the borrower's gross monthly income. Borrowers can do a few things to lower their housing expense ratio, such as making a larger down payment, buying a less expensive home, or finding a home with lower property taxes or homeowners insurance.
Mortgage Demand is Surging
Mortgage demand and interest rates dropped earlier this month after the Federal Reserve signaled a potential pause on interest rate hikes. The Fed's decision to pause rate hikes is based on the expectation that inflation will be slowing down in the coming months. This decrease in interest rates led to an increase in applications for both refinances and mortgages, by about 10% and 5%, respectively.
Loan Officers are your guide throughout the entirety of the home buying process. They are mortgage specialists that will review your credit, financial and employment information to see if you qualify for a mortgage and find the loan option that works best for you. One of the most important parts of their job is answering any questions that the buyer may have and ensuring that any loan-related issues are resolved.