Different Generations – Same Great Need

Blog post was written by Dave Stephan, Inlanta’s TPO Manager. 

The Greatest Generation. Baby Boomers. Gen X. Millennials. Gen Z. Different names for different groups of people, but the one thing we all have in common?  We need a place to live.

To be sure, the standard GSE 30-year fixed rate has proven to be a sound product over the years (Option ARM’s, anyone?), but today’s homebuyer is very different from even ten or twenty years ago.

One thing we know, this isn’t your father’s mortgage anymore…

According to the National Association of Realtors, the average age of a first-time homebuyer is now 32 years old and as a percentage of income, FTHB’s now are purchasing a home valued at roughly 2.6 times their income, vs 1.7 back in the 70’s.

41% of those 32-year-old’s now carries an average student debt load of $29,000. They also rent for nearly 3 times as long before they buy a house, likely a factor of necessity to save for a bigger home while carrying a higher debt load.

According to a recent Genworth market report, in the past 3 years, 79% of first-time homebuyers have relied on low down payment mortgage products. FHA, VA, and USDA collectively made up nearly a third of that volume.

As a lender, higher average home values, lower down payments, and historically tight inventory means you have to have all the necessary tools at your disposal. Inlanta Mortgage’s Third Party Origination program can expand your reach to those first-time homebuyers.

Let us show you how!  Email me at davestephan@inlanta.com or call 262.754.6292 or visit our LinkedIn page

Inlanta Mortgage Named Top 10 Medium Mortgage Company by SocialSurvey

Original press release from PR Web

Inlanta Mortgage, Inc. is pleased to announce they have been recognized as one of the nation’s best mortgage lenders for customer satisfaction with SocialSurvey’s 2017 Top 10 Medium Mortgage Company Award.

SocialSurvey’s Top Performers Awards recognize loan officers and mortgage companies who are best at managing the mortgage game and are making the most of their online reputation. In addition to being named a top mortgage company, three of Inlanta’s top producers have also been individually honored as Top 100 Loan Officers for Customer Satisfaction: Cindy Laffey, Branch Partner/Mortgage Planner in Overland Park, KS; Craig March, Branch Manager in Janesville, WI; and Jim Snyder, Branch Manager in Pewaukee, WI. Laffey and March both placed in the Top 50.

SocialSurvey CEO, Scott Harris, said, “I can’t say enough about Inlanta Mortgage. They have awesome leadership, great originators, and really care about their customers. 99% of their customers report that they had a Great Experience. The Mortgage Loan process is complicated and it is nearly impossible to see results this good. Congrats to the entire Inlanta team.”

Chris Knowlton, Chief Information Officer of Inlanta Mortgage, said, “We are very excited to receive these awards from our partners at SocialSurvey. At Inlanta, we have always had a customer-first approach. We make the mortgage process easy, and the feedback we receive through SocialSurvey validates our success at creating happy customers.”

Paul Buege, President and Chief Operations Officer of Inlanta Mortgage, said, “There is no measurement more important than customer experience surveys. Nothing matters if you do not take care of your customers. SocialSurvey’s platform provides us with important feedback, and it’s great to be recognized as one of the best in the industry based on our customer survey results.”

If you are looking to purchase or refinance a home, experience Inlanta’s award-winning service for yourself. Find your local Inlanta Mortgage branch or loan officer by visiting www.inlanta.com/branch-locator. Then, check out their SocialSurvey reviews at https://socialsurvey.me/pages/company/inlanta-mortgage-inc.

About Inlanta Mortgage

Headquartered in Pewaukee, WI, Inlanta Mortgage was established in 1993 and is celebrating its 25th anniversary in 2018. The company has grown to over 40 branches in 20 states and over 250 employees. Inlanta Mortgage’s mission is to be the home financing partner that you trust to serve your family, friends, and community. Their team of dedicated mortgage professionals is committed to delivering an exceptional experience using honest and ethical lending practices.

Inlanta Mortgage was named a Milwaukee Journal Sentinel Top Workplace in 2014, 2015, and 2016. Inlanta has also been recognized as one of the “50 Best Mortgage Companies to Work For” by Mortgage Executive Magazine and one of the country’s “Top Mortgage Employers” by National Mortgage Professional.

Inlanta Mortgage continually seeks branch managers and loan officers who want to grow their business. To learn about growth opportunities, please contact Brian Jensen (Midwest) at brianjensen@inlanta.com or 630-927-0380; or Kevin Laffey (Kansas, Missouri, and Iowa) at kevinlaffey@inlanta.com or 913-645-4647. To learn about opportunities in other locations, visit www.inlantapartners.com, call 262-439-4260, or email partners@inlanta.com.

Inlanta Mortgage, Inc. NMLS #1016. Cindy Laffey, NMLS #261978. Craig March, NMLS #218697. Jim Snyder, NMLS # 219027.

 

 

Home Buyer Needs – Then vs. Now

Today’s standard home buyer looks a lot different than that of yesterday’s. Along with changes to what the traditional home buyer looks like, home buyer needs have also changed dramatically over the years.

What are their needs now? Let’s continue to evaluate the 2018 homebuyer.

Then vs. Now

According to a Realtor.com video on how buying a home has changed in 30 years, our median buyer today, at 44-years-old, is significantly older than the 33-year-old buyer of 1985. The percentage of married couples buying is also down from 81% to 67% with single female buyers dominating as the second largest demographic of homebuyers at 15%.

Today’s desired home also looks different than that of yesterdays. In 1985, buyers sought out 1,600 square foot 1-story ranch homes with 3 bedrooms and 1 bathroom. Today, buyers are looking for a little extra space in their homes coming in at a median range of 1,900 square feet for a 2-story traditional home containing 3 bedrooms and 2 bathrooms.

As far as homebuyer needs go, wood-burning fireplaces, carpeting, and laminate countertops were a must have back in 1985. Today, buyers seek central air conditioning, hardwood floors, stainless steel appliances, and open kitchen concepts.

Sure, home buying and home buyers have changed a lot over the past 30 years. The question is, have your mortgage programs and platforms changed to meet these needs?

Has Your Mortgage Platform Evolved?

Are you still stuck in the past offering mortgage products that only cater to a traditional homebuyer?

If your institution’s mortgage lending program is looking to evolve, Inlanta’s Third Party Origination (TPO) program can help you take advantage of every mortgage opportunity, including FHA, VA, and USDA Rural Development and help your business survive in today’s competitive marketplace.

Evolve your mortgage business today with an Inlanta TPO partnership! Need more information?  Email our TPO Manager, Dave Stephan, at davestephan@inlanta.com or call 262.754.6494 or visit our LinkedIn page.