Springtime means different things for people. For some, it signifies the end of winter and colder temperatures. For others, it becomes the dawn of an emerging season. Yet, a few gear themselves up for outdoor activities such as golf, baseball, softball, among others.
For real estate industry professionals, it means one thing: The housing market begins its frenzy for buying and selling.
When the snow clears way for warmer temperatures, those looking to participate will be out in force. While that market has seen some unprecedented peaks and valleys over the past several years, one constant has been the ability for buyers to know what they can afford. Having a mortgage lender that can assess the situation and offer programs and options to make the process move quickly can make a big difference.
That is the trademark of Main Street Home Loans, with offices located on 51 Jefferson Boulevard, fifth floor, in Warwick, and on 500 East Washington Street in North Attleboro, MA. They specialize in getting potential buyers into the fray by developing plans for them to seek out the home they want.
Area Manager David Licciardi said the housing industry constantly changes, and with fluctuations, it helps to know how much buying power they have. He has seen numerous trends over his three-decades career in this industry. What sets Main Street Home Loans apart from other companies is being able to connect customers with funding quicker, he said.
“We actually provide the money directly to the consumers,” Licciardi said. “We work alongside FHA, Fannie Mae and Freddie Mac to assist customers with the money they need to put an offer on the table. We have an on-site underwriting team that can expedite the process.
“Mortgages are the only thing we do, and we do them better than anyone,” he said.
Dave said helping others provided the background for choosing his career path. He studied Finance at The University of Rhode Island before working at several companies; doing everything from loan processing to re-structuring loan denials. For the latter, David would research other ways to enable the application to become approved. He would continue to thrive in such capabilities until he co-founded Main Street Home Loans over five years ago.
Since the Spring Housing Market will be in full swing, Licciardi believes there could be a drop in the interest rates at some point this year. He is unsure of how low the rates will fall or if the upcoming presidential election will influence them. However, the way people are impacted in other areas can make for an interesting decision, according to Licciardi.
“There are people out there hurting. They don’t have money for food, gas or other essentials because the price of everything has increased. In that case, they can look into the equity in their home. Their values have also increased during that same period. So, it may make sense for people to take money out of their home to either pay off high-interest credit cards, fix up their home or do something else,” he said.
Another point David makes is the competition this spring. The warm weather will encourage those who sat out during the winter to start looking. That will not only increase demand, but it will also start bidding wars that ultimately helps the seller.
Compounding the problem is the lack of new homes being built around here. He said if there is available land to build something, then it would be sold rather fast. Unfortunately, as the price of materials and properties rise, it makes opportunities to put someone in a new home more difficult.
For anyone looking to begin the process, Licciardi said lenders usually want two years of W2’s (tax returns for the self employed), a month of paystubs and recent bank statements. Those are all needed to determine what people can afford and where they might be able to go house hunting.
David encourages anyone interested in getting started should talk with him and his staff.
“Some people think that if they either have no credit or bad credit they will be automatically disqualified. That isn’t always the case. Their credit score may be fixed in a month or two and put them on track, numbers-wise. We work with many individuals who may have less-than-stellar credit. Or, we can put them in programs that will repair their issues so they can get back on the path to home buying,” Licciardi said.
Main Street Home Loans is an award-winning, multi-state residential mortgage lender currently licensed in 42 states. Main Street Home Loans focuses on assisting consumers in obtaining a residential loan that meets their needs while ensuring that they are receiving exemplary service throughout the process. They are dedicated to streamlining the loan process in order to shorten the time from loan application to closing without sacrificing service, quality, or compliance. Their company operates on a platform of high standards, while always putting honesty, integrity, and ethics at the highest level of importance.
For more details about their services, please contact David Licciardi at 401-487-7691 or david@mainstreethl.com.
Additional information about Main Street Home Loans may also be found by visiting their website at www.mainstreethomeloans.com.
