Eight Best Marketing Practices to Fund New Loans Faster

Join our expert panelists to learn which best marketing practices will help you get to your customer quickly with your best offer – and win their business for another loan term.

engage.marketing event: All eyes on purchase

To help power your business forward, we’re bringing together the smartest minds in purchase mortgage marketing to share the insights, tactics and strategies that set leaders apart.

Behind the executive exodus at Fannie Mae

What's behind the wave of executive departures at Fannie Mae? It's not just money, according to former employees of the GSE.

2021 Agent Rankings now live

Today RealTrends + Tom Ferry announce the 16th annual The Thousand of America's top 1,000 real estate sales and professionals and teams.

Real EstateAppraisals & Valuations

Think your 6-digit salary is enough to live in San Francisco?

Think again

Do you think you make enough to live comfortably in San Francisco making a six-digit salary? Actually, you might not.

As it turns out, San Francisco has the highest low-income limit in the country at $105,350, according to an article by Jeff Collins for The Orange County Register.

Yes, you read that right. Even making six figures in San Francisco still could land you in the low-income category.

The article primarily focuses on Orange County (Los Angeles MSA), which holds the fifth highest low-income limit of $83,450 in annual income.

From the article:

Government and private agencies use HUD’s income calculations to determine eligibility for a wide variety of assistance programs, ranging from rent subsidy vouchers and public housing to mortgage assistance. While low-income families qualify for some programs, others are limited to households earning far less, with limits as low as $31,300 for a family of four.

Record-high rents and home prices are driving up Southern California income limits. Orange County apartment rents, for example, increased 20 percent over the past seven years, while the median sale price of an Orange County house has jumped 40 percent.

While households must be in the extremely low income in order to qualify for Section 8 housing, being categorized as low income can help homebuyers get down payment assistance in this hot market.

From the article:

High-income limits are justified in a county where the median house price tops $700,000, said Karla Lopez del Rio, NeighborWorks’ vice president of marketing.

“You probably need to make three times the median income to afford the median-priced house,” Lopez del Rio said. “Actually (the income limit) is not high enough for our reality.”

Most Popular Articles

Fannie Mae gives go-ahead for digital verification

Fannie Mae has given mortgage servicers the green light to use third-party digital vendors to verify income and asset information. Mortgage tech firms are thrilled.

Jun 10, 2021 By

Latest Articles

How Rocket Pro TPO continues to give its broker partners the upper hand

To remain competitive and create a better experience in this purchase environment, brokers need one thing above all: Speed. And there’s one lending partner that has the solutions and resources to give LOs just that.

Jun 11, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please