On Wednesday, June 13th, new income limits went into effect for USDA loans in Minnesota. These household income limits vary by region and help determine eligibility for rural development home loans. There are many benefits to USDA loans, the most notable being that they don’t require a down payment. You also may be surprised to discover where they are available.
To learn more about the new limits in your area and what they mean for home buyers, contact a Marketplace Home Mortgage Loan Officer today.
*Data for 1-4 person households
The new tax reform bill that was signed into law by Congress will be changing taxes related to home ownership in 2018 and beyond. If you are a homeowner, or are considering becoming one, be sure to meet with your tax professional to discuss how these changes will impact you. READ MORE
As we head into another year at Marketplace Home Mortgage L.L.C., we have a lot to be thankful for. 2017 was a year of tremendous growth.
We opened new locations in Sioux Falls, SD, Clive, IA, and Portsmouth, NH. We also hired 130 new employees across the country.
Throughout the year we were honored to receive some awards and recognition. In August, Marketplace Home Mortgage was named Best Mortgage Company in the Twin Cities by voters in the 2017 Twin Cities Business Magazine Reader Poll. As the year progressed, we were also recognized as Number 27 on the list of the 50 Fastest Growing Companies in the Twin Cities by Twin Cities Business Magazine.
On Tuesday, The Federal Housing Finance Agency (FHFA) announced an increase in maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac in 2018.
The FHFA stated that loan limits will be raised to reflect the change in U.S. home prices. The press release distributed by the agency states:
“According to FHFA’s seasonally adjusted, expanded-data HPI, house prices increased 6.8 percent, on average, between the third quarters of 2016 and 2017. Therefore, the baseline maximum conforming loan limit in 2018 will increase by the same percentage.” – Federal Housing Finance Agency
Marketplace Home Mortgage, L.L.C. is proud to be recognized as one of the Twin Cities’ 50 Fastest-Growing Private Companies by Minneapolis-St Paul Business Journal. Landing at No. 27 with a growth rate approaching 72 percent, we have a great team to thank for such an exciting year of enhancement and expansion.
To qualify for consideration for the Fast 50 List, businesses had to be privately held, for-profit companies in the Twin Cities metro area. Growth rates and financial information were verified by accounting firm Abdo, Eick & Meyers.
Our president and CEO, Keith White, talked with Minneapolis St. Paul Business Journal about the challenges of growth, the importance of a strong team, and plans for the years ahead.
Read more about Marketplace Home Mortgage’s fast growing business.
We are proud to share that Marketplace Home Mortgage was voted Best Mortgage Company in this year’s TC Business Reader Poll.
Each year, TC Business Magazine works with DataJoe Research to accumulate votes for their “Best of Business” Awards. Through the process, they survey thousands of professionals to determine which companies exemplify excellence in their respective industries.
We are honored to be recognized. Thank you to all of the clients and industry peers who voted for us. Our mission is to provide our customers with the best possible mortgage experience, and we are so proud to know that you are experiencing the excellence we always strive for.
Thank you for your business. It is truly an honor to serve you.
As always, contact us with any questions or concerns.
Marketplace Home Mortgage, L.L.C. is excited to be adding to our product line as we launch our new Commercial Lending Division. With the acquisition of First Financial Commercial, a 20-year Commercial Lender owned and operated by Stephanie Safe, Marketplace Home Mortgage now offers commercial lending to clients across the nation. READ MORE
We are pleased to welcome new team members to more branches across the US.
Al Duoba has joined MPH Mortgage in Novi, MI. With over 25 years of experience in the mortgage lending industry, Al has worked as a Loan Officer, Branch/Sales Manager, and Broker Owner. When asked why he chose to work with MPH, Al says, “I saw Marketplace’s innovative approach of using Marketing Coordinators, a solid product line, and their On-Time Closing Guarantee as real differentiators in the marketplace.” He joins our Novi office as the Branch Manager where he will serve home buyers and help grow MPH’s presence in South Eastern Michigan. READ MORE
We are excited to announce that Marketplace Home Mortgage will be adding an Iowa market to our growing list of service areas and locations. As part of this expansion, we will be welcoming Senior Loan Officer, Sara Lindecker, a 15-year veteran of the Dubuque area market.
“Sara’s experience gives us an anchor in eastern Iowa as we expand across the state,” said Marketplace Business Development Manager Craig Nester. “She’s the perfect ambassador to show Iowans how Marketplace outperforms our competition.” READ MORE
We are excited to announce that our South Dakota base has continued to expand with the addition of another key loan officer.
After nearly 15 years as a mortgage loan officer at a large bank, Jen Albers joins our growing team of home mortgage experts in Sioux Falls. She’ll work alongside Josh Osborne, another new major hire, as a key team member assisting the company’s goal of becoming the No. 1 mortgage lender in the city within a year.
“I’m thrilled to join Marketplace and help South Dakotans find their perfect home,” Albers said. “I am so excited to surround myself with the professionals at Marketplace and continue to learn what has made them so successful. Through working with the best, I will be able to provide my clients and customers even better products and services.”
Albers said Marketplace’s deep catalog of loan programs and marketing tools convinced her to join the company. She’s also excited to use Marketplace’s industry-leading technology suite, which speeds up and simplifies the loan approval process for every party involved.
More and more loan officers with backgrounds at large banks are joining Marketplace for similar reasons, said Northwest Regional Manager John Showers.
“We’re big enough to offer our team the resources of a major financial institution but nimble enough to stay on top of industry trends,” Showers said. “New hires see the value in our innovative approach to the mortgage business, such as the security that comes with our On-Time Closing Guarantee.”
Marketplace is continuing to expand our Sioux Falls presence as the area is experiencing major growth in industries like health care.
“We fought hard to bring Jen and Josh on board because they operate with the high level of excellence Marketplace is known for,” CEO Keith White said. “I have great confidence that our new team members in Sioux Falls will deliver the same extraordinary results and bring outstanding benefits to their clients that we are known for in every market we operate in around the country. ”