Brentwood, Tennessee-based Churchill Mortgage experienced an increase in homebuyer demand, recording a 49% year-over-year growth in its purchase volume from April to September.
“The spring and summer months are typically when home buying activity is at its highest. This year’s growth is especially noticeable with the shift from refinances to purchases,” said Mike Hardwick, president of Churchill Mortgage.
“Anticipating this demand, we invested heavily in tools and personnel to ensure our borrowers are provided with the best mortgage and can ultimately achieve debt-free homeownership,” Hardwick added.
Along with the year-over-year increase in purchase volume from April-September, the lender realized a 40% increase in the total number of purchases.
Churchill also reported a 7.81% increase in the average amount per loan, reflecting a rise in home values across the country.