Starting November 16, 2025, Fannie Mae is removing the long-standing 620 minimum credit score requirement for loans processed through its Desktop Underwriter (DU) system. What does this mean?
More flexibility. Instead of relying on a single credit score cutoff, DU will now assess a borrower’s full financial picture—credit history, income, debt, property type, and more.
Alternative credit welcomed. Rent, utility, and phone payment histories may now help demonstrate creditworthiness for those without traditional credit.
Expanded access. This change could help first-time buyers, long-time renters, and underserved communities qualify for conventional loans—not just FHA.
Potential savings. Conventional loans often come with lower long-term costs than FHA loans, especially when it comes to mortgage insurance.
Important: Lenders will still pull credit scores, and other underwriting standards remain in place. But this shift marks a major step toward inclusive, holistic lending.
If you’ve been told “you don’t qualify” because of your credit score—this could be your moment. Let’s talk about your options and what this means for your path to homeownership.
DM me or schedule a call to explore what’s possible under the new guidelines.
Sheree
Okay, for those who didn’t live through the 2008 housing bubble that led to artificially low interest rates, let talk about the proposed 50-Year Mortgage…Dream Home or Debt Trap? Let’s Break It Down. Thinking about stretching your mortgage to 50 years? Here’s the truth in a nutshell—because your time (and money) matter.Pros: Why Some Buyers Say “Yes!”• Lower Monthly Payments: Spread over 50 years, your payment drops. A $500K home might cost ~$2,277/month vs. $2,548 on a 30-year loan.• Bigger Buying Power: Qualify for more house with less monthly strain—especially helpful in high-cost markets.• Short-Term Relief: Ideal for first-time buyers or those needing breathing room now.Cons: What You’re Really Signing Up For:• Massive Interest Over Time: You could pay double the interest compared to a 30-year mortgage.• Slow Equity Growth: You’ll build wealth at a snail’s pace—bad news if you want to sell or refinance.• Debt Into Retirement: You might still be paying off your home in your 70s.Bottom Line:A 50-year mortgage can unlock doors—but it may also chain you to them. If you’re considering it, ask yourself: Am I buying time… or borrowing my future?Save this post. Share it with someone house-hunting. Let’s make smart moves, not just long ones.
Buyers can save thousands by assuming a seller’s low-interest mortgage—here’s how it works.
If you're shopping for a home in today’s high-interest environment, there's a little-known strategy that could dramatically reduce your monthly payment: mortgage loan assumption. This option allows you to take over a seller’s existing mortgage—often at a much lower interest rate than what lenders are offering now.
?? What Is a Mortgage Loan Assumption?
A mortgage assumption means the buyer takes over the seller’s current mortgage, including the remaining balance, interest rate, and repayment terms. Instead of applying for a new loan at today’s rates (often 7% or higher), you “step into” the seller’s loan—potentially locking in a rate as low as 3–4%.
?? Why It Matters in 2025
With interest rates climbing, assuming a low-rate mortgage can save buyers hundreds of thousands over the life of the loan. For example:
Loan Type
Interest Rate
Monthly Payment
Total Interest Paid
Assumed Loan
3.5%
$1,796
$246,624
New Loan
7.0%
$2.661
$558,360
Savings: $311,736 in interest alone.
? Which Loans Are Assumable?
Not all mortgages qualify. Here are the most common types:
Note: Most conventional loans include a “due-on-sale” clause, making them non-assumable.
?? What’s Required?
To assume a mortgage, buyers typically need:
?? How to Find Assumable Homes
??? Final Thoughts
Mortgage assumptions aren’t just a financial loophole—they’re a strategic way to buy more home for less. If you’re an empty nester, first-time buyer, or relocating to the Catawba Valley market, this could be your ticket to affordability and legacy-building.
?? Want to explore assumable homes in your area? Let’s talk.
Sheree Byrd, Realtor® Faith Parker Properties ?? 828-556-5468
info@shereebyrdrealtor.com
If you’re selling an investment property, the IRS offers a little-known gift: the 1031 Exchange. It’s not flashy, but it’s powerful—allowing you to defer capital gains taxes when you reinvest the proceeds into another “like-kind” property. Translation? You keep more of your money working for you.
Here’s how it works: instead of cashing out and paying taxes on your profit, you roll that equity into another investment property. The key is timing and structure. You’ll need a qualified intermediary to hold the funds, and you must identify your next property within 45 days and close within 180. Miss those deadlines, and the tax bill lands in your lap.
Why bother? Because deferring taxes means more buying power. Let’s say you sell a rental for $500K with $200K in gains. A traditional sale might cost you $40K+ in taxes. With a 1031 Exchange, that $40K stays in play—fueling your next purchase, whether it’s a bigger building, a better location, or a property with stronger cash flow.
It’s not just for big investors. Even mom-and-pop landlords or vacation rental owners can use it to upgrade, diversify, or reposition their portfolio. Just remember: this strategy is for investment properties, not your personal residence.
Bottom line? The 1031 Exchange is a savvy tool for sellers who want to grow wealth, not just cash out. Talk to your tax advisor early, plan ahead, and make every dollar count.
This information is provided by Denise Poole Shelton with Primis Mortgage. If you would like to learn whether you qualify, reach out to us and we will be happy to connect you!
Selling your home can be a daunting task. Many homeowners consider the For Sale By Owner (FSBO) route to avoid paying commission fees. While this approach may seem appealing at first, it often leads to challenges that can cost you time, money, and peace of mind. Here’s why opting for FSBO might not be the best strategy for selling your home.
One of the primary reasons many attempts FSBO is the desire to save on real estate commissions. However, this often comes at the expense of market knowledge. A seasoned real estate agent brings expertise in:
Pricing Strategies: Real estate agents utilize comparative market analysis (CMA) to determine the right price for your home. Mispricing can result in longer days on the market or losses when it finally sells.
Local Market Trends: An agent understands current trends, allowing them to position your home effectively to attract serious buyers.
When you sell your home yourself, you significantly limit its exposure. Real estate agents have access to:
Multiple Listing Services (MLS): MLS listings are broadcast to a network of agents and potential buyers, increasing visibility.
Broader Marketing Strategies: Professional agents employ marketing tactics, including online listings, social media marketing, and traditional advertising, to get your home in front of more potential buyers.
Negotiating the sale of a home can be overwhelming, especially if you lack experience in real estate transactions. Real estate agents are trained negotiators who can:
Secure Better Offers: Agents know how to navigate offers and counteroffers effectively.
Manage Emotional Factors: Selling a home can be emotional. An agent provides an objective viewpoint that helps you stay focused on achieving your goals.
Real estate transactions involve a myriad of legal documents and requirements. Without the right knowledge, you risk non-compliance, which can lead to:
Financial Pitfalls: Errors in documentation can impose costly liabilities.
Delays in Closing: Missing key legal steps can stall the sale or lead to the loss of buyers.
Time is a valuable asset when selling your home. FSBO often leads to longer sales periods due to:
Inexperienced Marketing: Without targeted, professional marketing, homes may linger on the market longer than necessary.
Handling Inquiries: Fielding calls, conducting showings, and responding to interested buyers can take considerable time and effort, diverting you from your daily responsibilities.
The goal of selling your home is to maximize your return on investment. Unfortunately, by going the FSBO route, you might inadvertently reduce your profits. An experienced agent can help ensure:
Maximized Sale Price: Proper pricing and marketing can lead to higher offers.
Reduced Overall Stress: Working with a professional can also minimize your personal stress, allowing you to focus on your next steps post-sale.
Selling your home is more than just putting a sign in the yard or listing it online. It’s a complex process that requires knowledge, experience, and a strategic approach. While FSBO may seem like a financially sound choice, the potential pitfalls could cost you significantly more in the long run.
If you’re considering selling your home and want to maximize your investment without the stress, I invite you to take the first step with a free home evaluation. Understanding your home’s current market value is essential, and I’m here to help you through every step of the selling process.
Feel free to reach out today for your no-obligation evaluation!
By avoiding common FSBO mistakes, you’ll position yourself for a successful, profitable home sale. Your future deserves expert advocacy—don’t go alone!
Why Pre-Approval Is Important
The initial step in your home-buying journey is to secure a mortgage pre-approval. This process involves a lender evaluating your financial history and current financial situation to determine how much they are willing to lend you. Pre-approval not only clarifies your budget but also signals to sellers that you are a serious buyer.
How We Can Help:
Research and Preferences
Once you’ve determined your budget, it’s time to start searching for your dream home. This involves understanding your needs and preferences. Are you looking for a cozy condo, a family-friendly house, or a spacious estate?
Crafting a Competitive Offer
When you find a home that feels like "the one," it’s time to make an offer. This is where strategy comes into play; you want to make sure your offer stands out.
The Importance of Inspections
Once your offer is accepted, conducting a home inspection is crucial. An inspection reveals the property's condition and identifies any potential issues.
Finalizing Your Mortgage
After passing the inspection, it’s time to finalize your mortgage. This process involves submitting final paperwork and securing your loan, so it's essential to keep communication open with your lender.
What to Expect on Closing Day
Closing is the final step in the home-buying process, where you'll sign all necessary documents and take full ownership of your new home.
Settling into Your New Home
Once the closing is complete and you have the keys in hand, it's time to move in! But the journey doesn’t stop there.
Buying a home is not just a transaction; it's a journey that requires careful planning and expert guidance. Our dedicated team is here to provide the support you need throughout the entire process. With our extensive knowledge of the market and access to a network of trusted lenders, we can help you navigate each step, ensuring you find the perfect home at the best possible terms.
Ready to start your home-buying journey? Contact us today to schedule a consultation and learn how we can assist!
After a rollercoaster ride of rising interest rates, homebuyers are finally catching a break. Mortgage rates, which peaked at nearly 7.8% in late 2023, have moderated to around 6.2% as of fall 202512. While still higher than the historic lows of 2021, this shift is making a noticeable difference in monthly payments—especially for buyers shopping in the average price range.
Let’s break it down. A $400,000 mortgage at 7.79% would have cost buyers roughly $2,877/month in principal and interest. At today’s moderated rate of 6.2%, that same loan now costs about $2,450/month—a savings of over $400 monthly1. For homes priced closer to the median in our region (around $300,000–$350,000), the savings are still substantial, often trimming $300–$350 off monthly payments compared to last year’s peak.
This moderation is especially meaningful for first-time buyers, empty nesters, and relocators who were previously priced out of the market. With slightly lower rates and more predictable monthly costs, the window to buy is opening wider.
Beyond the numbers, western North Carolina is buzzing with new energy. The Morganton–Hickory–Newton/Conover corridor is seeing a wave of new businesses and infrastructure that’s turning heads—and drawing relocators.
Here’s what’s brewing:
Nestled between Charlotte and Asheville, this region offers a rare blend of affordability, natural beauty, and economic opportunity. Whether you're a remote worker seeking a scenic backdrop, a retiree looking for community, or a family craving space and value, Morganton, Hickory, and Newton/Conover deliver.
With interest rates easing and new businesses planting roots, now is a strategic time to explore relocation. The mortgage math is improving, and the lifestyle perks are multiplying.
?? Thinking about making a move? Let’s connect. Whether you’re buying, selling, or just exploring, I’m here to help you navigate the market with clarity and confidence.
Sources:
1Data Spotlight: The Impact of Changing Mortgage Interest Rates. https://www.consumerfinance.gov/data-research/research-reports/data-spotlight-the-impact-of-changing-mortgage-interest-rates/
2How Federal Reserve Rate Decisions Impact Mortgage Rates in 2025 .... https://www.kiplinger.com/real-estate/mortgages/how-the-federal-reserve-affects-mortgage-rates
3Here's the latest on businesses coming to Morganton | Business | The Paper. https://www.thepaper.media/business/from-farewells-to-new-construction-here-are-the-latest-morganton-business-updates/article_5601c03b-8349-40a3-a5aa-b72c013c296f.html
4Breaking Ground | City of Hickory. https://www.hickorync.gov/breaking-ground
5Home - The Chamber of Catawba County. https://catawbachamber.org/
Let's talk inventory, absorption, and pricing power.
The absorption rate in Catawba Valley is hovering around 3.6 months - still favoring sellers. But buyers are getting pickier. Homes that show well and are priced right are flying off the market. Those that miss the mark? Sitting. If you are prepping to list, presentation is everything. I can help you determine how to best position your home for listing and provide a well-thought out strategy for pricing to get the quickest turnaround and highest dollar.
Remember, your house is only worth what someone is willing to pay for it. So, let's get you ready to command the best the market has to offer.
Buyer urgency is rising. Sellers, take note.
With rates dipping below 6.5%, buyers are re-entering the market with confidence. This creates a window of opportunity for sellers - especially those with move-in-ready homes. Expect more showings, faster offers, and competitive pricing. if you've been waiting for the right moment, this could be it.
A look at homes that didn't sell and how they're bouncing back...
In the past 60 days, over 40 homes in Catawba Valley were relisted after failing to sell. The common thread could have been poor marketing, unclear pricing or missed emotional connection for buyers. Sellers who re-entered the market with fresh visuals and strategic storytelling saw renewed interest. If you've tried to sell before, let's explore what could work better this time.
From lakefront estates to modern farmhouses - here's what's trending.
Homes over $75k are moving faster than expected, especially those with high-end finishes, guest quarters, and outdoor entertainment zones. Buyers are prioritizing lifestyle over square footage. Hickory, Lake Hickory, and parts of Morganton are seeing strong activity. If your home fits this niche, it may be time to revisit your pricing strategy.
Scenic views, legacy estates, and a lifestle shift are driving demand. Catawba Valley is seeing a surge in relocations from Charlotte, Raleigh and even out-of-state markets like Florida and New York. What's drawing them? Privacy, mountain views and homes with character. Legacy properties with acreage or lake access are especially hot. If your considering selling, now's the time to highlight what makes your home unique.
Home values, inventory and buyer behavior - here's your Q4 snapshot.
Home values in the Catawba Valley market rose 4.2% this quarter, with luxury homes seeing the biggest gains. Inventory remains tight, especially in Hickory and Lake James, where days-on-market dropped below 30. The broader market clocked in just over 50.
Buyers are moving fast, and sellers with updated kitchens or outdoor living spaces are commanding top dollar. Want to know what your home might be worth in today's market? Let's chat.